Going Big with Your Wholesaling Business Strategy [Franchising]
Are you thinking big enough with your wholesaling business strategy?
Real estate investors are constantly told to “think big”. For some just making the leap into real estate investing and taking home their first $20,000 paycheck is bigger than they’ve ever dreamed before. But is it really monumentally big? Is it really utilizing their full potential?
What are your current goals for your wholesaling business? Is $1 million your magic number? How about scaling up to flipping 10 houses a month or maybe 30 a month and pocketing tens of millions of dollars per year?
Is that as big as you can go, and if you have set grand objectives like this for your wholesaling business does your strategy back it up? Have you planned out the steps to get there? How are you going to scale and manage an operation of that size and enjoy all the free time you have been dreaming of?
Now consider the advantages of franchising as a core part of your wholesaling business growth strategy…
Few even think of it. Yet it has helped many innovative firms in many diverse industries to create multimillion dollar passive income streams with a tight team. Franchising means no limits, no time or resource constraints and the potential to have hundreds of others flipping hundreds of homes for you each year.
Some of the upfront franchise fees other real estate related businesses charge are absolutely obscene. Then there are the ongoing royalties coming in year after year. Don’t forget the immense value that can then grow in your brand. This can be many millions or more that is added to your wealth automatically and is fueled by leveraging others, not the number of hours you can put in.
Then there are the great side benefits that range from additional visibility to benefiting from dramatic discounts. Think massive discounts on everything your wholesaling business needs due to the huge volume of business you wield. This can save you money on everything from marketing and leads to appraisals, title work and borrowing.
So what do you need to work this into your wholesaling strategy and take your business to a whole new level you never even dreamed possible?
It definitely requires planning and being worked into your overall business plan. It requires taking the time to do a little market research to see what the competition is if any and how you will fit into the market, defining the opportunity and presentation material and polishing your branding. Of course legal assistance for creating the necessary franchise agreements and some experienced support staff isn’t a bad move either.
So will you dare to dream this big or do you have a better plan?
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