Nick Neonakis, CEO of The Franchise Consulting Company, joins the Ask A CEO Podcast to share his ten years of experience in the franchising industry, strategies on how investing in franchising can yield maximum results and how Nick manages to consult clients in different locations. Check out all other episodes of the Ask A CEO Podcast here.
Key Facts
- Nick’s LinkedIn
- The Franchising Consulting Company’s website
- Nick has more than twenty years of business experience
- Nick has more than ten years of experience in franchising
- Nick speaks five languages
- Nick is the author of the book The Franchise MBA
- The Franchising Consulting Company is headquartered in Miami, Florida
- FCC is a privately owned company that launched in 2016
- FCC has its sub-offices located in Turkey, Saudi Arabia, Canada, Brazil, Cambodia, France, MENA, and Scandinavia
Key Takeaways
- Nick has more than twenty years of business experience with the last ten years devoted to franchising
- Nick holds an MBA degree in finance & marketing
- Nick is the author of the book The Franchise MBA
- Nick believes that regular updates create efficiency and proactiveness in the business. Therefore, his teams organize bi-weekly town hall meetings to discuss the business, market, and strategies
- At FCC, Nick promotes an information-sharing culture to provide the same quality of information to internal and external stakeholders
- Nick believes that the success of a franchising business lies in the proper alignment of interest between the owner and franchisee
- Nick recommends that franchising consultants try to understand Maslow’s Hierarchy of needs. In the franchising business, the consultants should focus on fulfilling the necessities of the investors interested in franchising
- “Time and money are crucial factors that determine the future of any franchise,” Nick advises owners to analyze the possible outcomes of acquiring a franchise before investing the capital
- Nick shares four steps that investors must do before acquiring a business
-
- Examine the business
- Evaluate the options
- Test the options
- Analyze legal and financial components
- Nick believes that every phase of business and market fluctuations brings about opportunities. During the pandemic, Nick and his team focused their attention on networking and building up new prospects globally
About 10 Years of Franchising with Nick Neonakis, CEO at The Franchise Consulting Company
I'm an author and the CEO of The Franchise Consulting Company. We are an organization of franchise executives and business people who freely share their knowledge about franchised businesses. We have extensive experience in franchising and specialize in the sale and resale of well-known national and international franchise companies. Our past clients are both in the United States and in over 30 countries worldwide.
While owning a franchise or any business is not for everyone, over the past 19 years, I have helped hundreds of aspiring franchise owners, established franchise businesses and existing businesses with their franchise acquisition and operations. In total, I have over 30 years of business experience. If you are reading this and wondering if franchising is something you’d like to investigate – call me.
While owning a franchise or any business is not for everyone, over the past 19 years, I have helped hundreds of aspiring franchise owners, established franchise businesses and existing businesses with their franchise acquisition and operations. In total, I have over 30 years of business experience. If you are reading this and wondering if franchising is something you’d like to investigate – call me.