James Hilovsky is the CEO of The FranDream, which matches franchise buyers with quality brands. As an investor and entrepreneurial strategist, he is passionate about matching entrepreneurs to successful franchise business opportunities. James is also a franchise broker with experience scaling new food concepts from one store to over 100 in just over three years.
Here’s a glimpse of what you’ll learn:
- [2:17] James Hilovsky’s career journey and his drive to align entrepreneurs with ideal franchises
- [6:36] What are the key qualities of an exceptional franchisee?
- [9:38] Fundamental considerations for investing in franchises
- [13:49] How a minor league baseball player became a franchisee: a success story
- [16:14] Why processes are crucial for franchise businesses
- [17:42] The essential support systems and training a franchisor should provide
In this episode:
In the competitive franchising landscape, identifying an ideal franchisor, asking probing questions, and adhering to established systems can carve a path to entrepreneurship. How can you become a successful franchise owner?
With in-depth experience in the franchise business, broker James Hilovsky maintains that franchisees must be open to constructive criticism and taking direction. When evaluating franchisors, consider your career goals and your ideal job structure. Franchisors provide opportunities to grow and develop your career, so identifying a supportive franchisor who provides you with the tools and systems for success will help you in your journey.
In today’s Systems Simplified episode, Adi Klevit sits down with James Hilovsky, the CEO of FranDream, to talk about becoming a successful franchise owner. James shares the systems and processes of effective franchises, a success story from a minor league baseball player, and how he aligns franchisees with ideal franchises.
Resources mentioned in this episode:
- Adi Klevit on LinkedIn
- Business Success Consulting Group
- James Hilovsky on LinkedIn
- James Hilovsky’s email: james@thefrandream.com
- The FranDream
Quotable Moments:
- “Franchising provides you with a playbook of how to run a business.”
- “Athletes are great to run a franchise business because franchising provides you with the playbook.”
- “If you drive around the street, you’ll see the majority of businesses are franchises.”
- “You’re only as good as your people.”
- “The processes are a piece of paper, but you need the people to buy into the process.”
Action Steps:
- Determine if you’re the right fit for a franchise by assessing your ability to follow systems and handle accountability: Aligning with a proven system can provide structure and reduce risk for aspiring entrepreneurs.
- Research various industries for franchising opportunities that align with your passion or interests: Diverse franchising options mean there’s likely a good fit for each individual’s interests and strengths.
- Interview potential franchisors with key questions on support and training: Understanding the level of franchisor support is crucial for ongoing success in the franchise relationship.
- Foster a culture of importance and contribution among employees in franchise operations: Recognition and engagement with staff can lead to better adherence to processes and overall business success.
- Review processes regularly and be open to revising them based on employee feedback: Continuous improvement of process efficiency and effectiveness keeps the business evolving and competitive.
Sponsor for this episode:
This episode is brought to you by Business Success Consulting Group.
At Business Success Consulting Group, we create custom processes and tailor-made management systems so businesses can thrive.
Businesses simply can’t survive without workable systems and well-documented processes. That’s why our team of experienced professionals takes care of it for you.
We provide business owners, entrepreneurs, and key executives with strategic implementation, process improvement and documentation, and long-lasting systems necessary to support business expansion.
So, what are you waiting for? Do yourself a favor, and cut the chaos out of your business.
Visit bizsuccesscg.com today or email info@bizsuccesscg.com to schedule a free consultation.
