Are you thinking about franchising your own business?
Well, you need to remember that franchising doesn’t stop at just earning more money. It also means putting your brand out there and entrusting your franchisees with your name and reputation as a service provider.
Neel Parekh — the founder and CEO of MaidThis, a cleaning business, informs us in our chat today about the key indicators you need to put in mind when starting a franchise business. Neel shares the story of how they managed to navigate their business through the recent struggles we’ve been faced with, including this pandemic. We also talk about how your growth as an individual is beneficial to the growth of your business.
Grab your pen and paper as we drop valuable insights along our discussion you’d surely love to take note of. Let’s get started!
What’s Discussed In This Episode:
0:00 Opportunity Analysis
1:54 Welcome to the podcast
3:12 Neel talks about how he started his career
4:20 Neel’s future plans for his business
5:01 Mitigating the risks and forming compliances around health & safety protocols
7:20 Deploying policies across franchisors and communicating operations to end customers
12:10 Neel tells the story behind his decision to franchise the business
14:33 The process of starting a franchise you need to know
16:30 What can you offer as a franchisor?
17:32 Allow the franchisee to be creative but also set certain limitations
19:26 Onboarding franchisees
20:34 Here’s why you need to put franchise systems in place
22:35 Navigating the franchisees through the different state laws
24:08 Choosing the right franchisees and team members
27:00 Improving processes within the franchised business
28:47 What is the Entrepreneurial Operating System and how can your business benefit from it
32:38 A business is never going to surpass its leader
35:39 How books can help you gain growth as the leader of a business
41:29 Leaders need to accept their flaws so something can be done about it
About Our Guest
Neel Parekh is the Founder and CEO of MaidThis® & MaidThis® Franchise. A company that helps homeowners and short-term rental hosts (Airbnb, VRBO, etc) with their cleaner needs. MaidThis has generated millions in revenue while having a fully remote team, and now they are on a mission to help others achieve the same.
- The Opportunity Assessment (FREE GIVEAWAY FOR A LIMITED TIME) https://tradie.wiki/grow
- Go to https://tradie.wiki/grow and use the code: SITESHED
- Join a global community of 6000+ trade professionals https://www.facebook.com/groups/TheSiteShed
- Visit Neel’s business website https://www.maidthisfranchise.com
- Visit Neel’s website to learn more about franchising https://neelparekh.co/
Connect with me on LinkedIn. For more podcast episodes, you may also visit my website. Tune in and subscribe to The Site Shed: You can also listen to The Site Shed on Apple Podcasts, Spotify, and Stitcher.
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