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47: Franchising As The Expansion Strategy, with Tom Hodgson

Stories from Franchisees & Founders

In this episode, we’re with Tom Hodgson, the Founder/CEO of Color World Housepainting, Inc. and Color World Franchise. The franchise currently has 37 units, and more that are set to open soon.

 

Tom saw the opportunities that came along and used it to grow his business. He also valued the importance of learning from successful people and those that are knowledgeable in certain aspects of the business and made franchising the way to expand his business.

 

Let’s join Erik Van Horn and Tom Hodgson and learn from Tom’s business journey and how he brought it to its level of success today.

 

What we talk about:

  • Tom Hodgson’s background, how Tom started

  • Seeing the opportunities for business

  • Having the main service with some extra services that go great together

  • Franchising as the way to expand the business

  • How the corporate structure looks like

  • The mindset that franchising would make it easier to sell

  • What sales looked like before the Franchise FastLane

  • Figuring how to get the help you needed and doing it

  • Telling your business’ story

  • Working with a consultant

  • Identifying the inefficiencies

  • Things that are done to help scale franchisees

  • Tom’s advice for new franchisors or potential franchisors

  • Having multiple locations and different markets

What we mention: