Podcast Summary

The Amazing Authorities Podcast

Episode: The Truth About Franchising: Costs, Risks & Opportunities
Host: Mitch Carson
Guest: Liz Leonard, Franchise Expert
Date: December 1, 2025

Episode Overview

In this insightful episode, Mitch Carson interviews Liz Leonard, a seasoned franchise consultant affectionately dubbed the “Franchise Queen.” Liz shares real-world advice on the pros and cons of franchising, reveals the risks and opportunities involved, and provides practical steps for anyone considering taking the leap into franchise ownership—or even franchising their own business. Listeners gain an honest look at success stories, industry pitfalls, financial realities, and actionable strategies for building wealth and freedom through franchising.

Key Discussion Points and Insights

1. Why Consider Franchising Instead of Starting from Scratch?

[02:11-06:33]

• Systematization & Support: Franchising offers a “business in a box” with proven systems, playbooks, vendor discounts, and ongoing support from the franchisor and peer franchisees.
• Personal Experience: Liz recounts launching a $1.2M independent childcare center (22 staff, 140 kids) and the crucial difference expert mentorship made in getting her venture off the ground.
• Quote:

  “If people are considering franchising, it’s a great opportunity… a playbook, or business in a box… it’s all systematized. … You’re partnering with the franchisor, but it gives you all of the pieces.” (Liz, 02:22)

2. The Reality of Running Your Own Business

[06:33-10:08]

• Pain Points: Personnel management and turnover were Liz’s biggest challenges, especially with changing employee expectations and generational differences.
• Retention Tools: Implementing solutions like the Predictive Index assessment helped retain quality employees.
• Quote:

  “The solution … was the predictive index tool. … It helped me do my hiring. … The retention rate will be much better.” (Liz, 09:16)

3. Assessing Franchise Fit: Individual and Family Readiness

[10:57-13:50]

• Holistic Process: Liz’s consultative approach starts with skills assessment, personality fit, vision mapping, and an honest evaluation of financial, lifestyle, and family factors.
• Owner-Operator vs. Manager-Run: Determining the candidate’s ideal level of involvement is key.

4. Who Thrives in Franchising?

[13:50-14:59]

• Best Candidates: Those facing career upheaval, in transition, or seeking to build legacy or additional income streams.
• Mindset Matters:

  “It’s usually somebody that—‘I need help, Liz. I need to solve this.’ It isn’t, ‘I’m just window shopping for businesses’—that never works.” (Liz, 14:59)

5. Financial Realities: What Does it Cost?

[15:11-18:05]

• Two Main Franchise Types:
  • Brick-and-mortar (food, fitness, retail): $350K–$1M+ investment
  • Service/Non-brick-and-mortar (plumbing, restoration, training): Can be under $150K
• Funding Options:
  • SBA loans and pre-qualifications
  • ROBS (Rollover for Business Startups) using retirement savings tax-free
• Quote:

  “Those are perfect examples of a very low investment. Those could be under 150. And we help people with funding.” (Liz, 16:52-17:02)

6. Hidden Gems: Semi-Absentee and “Boring” Businesses

[18:05-19:39]

• Self-Storage & Mailbox Stores: High demand, relatively low owner involvement with new tech
• Semi-Absentee Models:

  “Semi absentee means you don’t need to be there 40, 60 hours a week… Maybe 10 or 15 hours a week.” (Liz, 19:19)

7. Education & Due Diligence

[19:39-21:02]

• Liz’s Book: Your Franchise Fast Pass: Step-by-step guide packed with case studies, funding info, and exit strategies, plus an online educational portal for candidates.
• Disclosure Documents: Regulatory requirements and industry transparency

8. International Franchising: Laws & Opportunities

[21:02-23:19]

• US vs. International: Canada has its own laws and hoops; some US brands aren’t registered there.
• E2 Visa Pathway: Franchising can help international families legally immigrate and build a new life in the US.
• Quote:

  “Freedom is what they called it.” (Liz, 22:56)

9. Franchising Your Own Business: When & How?

[23:19-25:20]

• Franchise Development: Three years of financials preferred; Liz refers entrepreneurs to experts who package and evaluate readiness for franchising.
• Comparing Partners:

  “I’m a big believer in comparing and contrasting, which I teach my candidates. … Shop around.” (Liz, 24:16)

10. Business Opportunities vs. True Franchises

[25:20-27:05]

• Biz Ops’ Fine Line: Examples like vending or licensing, but some are subject to state or federal regulation. Vetting and paperwork are essential to avoid penalties.

11. Legal Costs and Getting Started

[27:05-28:37]

• Legal Fees: Packaging a business for franchise can cost anywhere from $100K to $300K; some firms offer more accessible plans depending on the stage and brand size.

12. How to Connect & Get Started

[28:41-29:13]

• Free Book Offer: Your Franchise Fast Pass is available at yourfranchisefastpassbook.com
• Main Website: yourfranchisefastpass.com
• LinkedIn Newsletter: Liz encourages listeners to reach out directly for personalized advice.

Notable Quotes & Memorable Moments

• On grit and franchising:

  “Having been on my own island… when you start your own business, many people think it’s easy… when you’re in business for yourself… you better have access to resources to make sure you don’t have a lot of mistakes.” (Liz, 05:15)

• On staff turnover:

  “Turnover in that industry… was 28%.” (Mitch, 08:33)

• On mindset:

  “Franchising is not right for everybody, Mitch. … Sometimes, you know, we have to part ways if it’s not ideal.” (Liz, 12:42)

• On freedom through franchising:

  “Because of that business and the E2 visa, they were able to move into the US… Freedom is what they called it.” (Liz, 22:53, 22:56)

Timestamps for Key Segments

• [02:11] — Advantages of franchising over independent startups
• [06:33] — The realities of staffing and why Liz sold her childcare business
• [10:57] — Liz’s client evaluation and vision-mapping process
• [14:59] — Who’s a good fit for owning a franchise?
• [15:24] — Types of franchises & financial requirements
• [16:52] — Funding strategies and little-known franchise models
• [19:39] — Liz’s book and supporting education portal
• [21:02] — International franchising laws and E2 immigration pathway
• [23:19] — When and how to consider franchising your original business
• [25:20] — Business opportunities vs. formal franchise models
• [27:05] — Legal costs for creating a franchise offering
• [28:41] — How to connect and get Liz’s resources

Conclusion

Mitch and Liz deliver a candid, actionable look at the world of franchise businesses. Liz’s brutally honest, yet encouraging style sheds light on how to evaluate your own fit, what to expect financially, how to avoid the pitfalls, and the importance of mentorship and due diligence. For new entrepreneurs, investors, or career shifters curious about franchising—or those contemplating scaling a business—this episode offers indispensable advice.