If you want to learn how to franchise a business, Ray Titus is the person you want to learn from! In this episode, the CEO of United Franchise Group™ (UFG) talks about the benefits of becoming a franchisee. Ray also shared how he has embraced a practice of lifelong learning to thrive in the franchise space, the value of always maintaining a positive attitude, and why you should build your career around what you are good at, not what you love!
About Ray Titus:
Ray Titus, CEO of United Franchise Group™ (UFG), founded Signarama®, growing it into the leading sign franchise in the world and laying the foundation for what has become United Franchise Group, the global leader for entrepreneurs. Today, UFG-affiliated brands are among the most recognized within multiple industries, from business services to charcuterie boards. Ray’s commitment to franchising helped establish the Titus Center for Franchising, the first university center of its kind. His philosophies on growth, positive attitude, and family influence the core values that have driven success within the award-winning brands he has developed from conception to international expansion.
Aside from leading UFG, Ray has also authored a collection of books that provide immense value to entrepreneurs. These books, including “YOU’RE NOT LISTENING TO ME,” “The Challenge,” “Selling Today,” “Round the Clock,” “Laws of Inevitability,” and “Put a Little JJ In Your Life,” cover various topics such as marketing, selling, communication, and life, offering a comprehensive resource for personal and professional growth.
Visit our curated collection of Business Books for more enriching reads.
How To Franchise A Business?
If you’re interested in the entrepreneurial path but you don’t want to absorb all the risk that comes with being a start-up founder, you might want to explore how to franchise a business! The main benefit of opening a franchise are that you have the support of the franchise system, but you can still maintain a lot of your independence in the way you run your business.
To become a franchisee, you need to do proper research on the franchise group you are buying into. Don’t be afraid to reach out to other franchisees and ask them about their experiences! You can also hire a franchise lawyer to assist you with the legal side of things and plan how you are going to deal with your finances. For more details on this topic, we’ve put together a blog about the most underrated advice for how to open a franchise!
Episode Highlights:
- Keep looking towards the future. Successful entrepreneurs evolve with the times, so don’t let yourself dwell for too long on the past otherwise you’ll be left behind! (14:53)
- Almost everything you need to know about business can be found in a book! To thrive during all stages of your entrepreneurial journey, try to continuously absorb as much knowledge as possible! Ray reads 40 books a year and attributes much of his success to the lessons he has learned and implemented from these transformative resources. (15:55)
- If you want to go out on your own but you think you would benefit from having some structure, why not consider franchising? Becoming a franchisee gives you the benefits of both independence and support. (34:04)
- Always look for the silver lining! If you maintain a positive attitude in the face of the challenges you are facing, you will always find a way through them! (42:06)
- Build your career around what you are good at, not what you love. Save the things you love for your hobbies and vacations, and when it comes to work, play to your strengths (because then you’ll end up loving what you do.) (47:46)
- You never know when you’ll meet your next investor, business partner, or client. Keep your eyes and ears open to opportunities; they are all around you, you just need to be open to them! (52:18)
- Wherever possible, keep things simple. Business doesn’t need to be complicated, and you don’t need a to-do list of a million things. Set yourself a few goals and work at them until they’re achieved before moving on. (52:53)
Ray’s best advice for entrepreneurs:
“Always look for the lemonade out of the lemon. Always look for the silver lining, the opportunity that others aren’t looking at.” (51:20)
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Resources Mentioned:
- Signarama
- Fully Promoted
- Transworld Business Advisors
- Accurate Franchising Incorporated
- Exit Factor
- Titus Center for Franchising
- Profit First
- Straight-Line Leadership
- Lincoln on Leadership
- The 6 Types of Working Genius
- Death by Meeting
- The Five Dysfunctions of a Team
- Buy then Build
- Grit
- The Founder
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