Built By Me Podcast
Welcome to the Built By Me Podcast! Get ready for a journey into the heart of entrepreneurship as we explore the stories behind successful businesses. Join us every other week as we delve into personal journeys, share tangible tips, and uncover the secrets to success.
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Built By Me Podcast
Riches Are in the Niches: How Red Boswell Built 148 Franchise Territories | Built By Me Podcast Ep.5
In this episode of the Built By Me Podcast, Taina and Mo sit down with Red Boswell, President of IFPG (International Franchise Professionals Group), the largest franchise broker network in the world. With over 30 years of entrepreneurial experience and 25 years in franchising, Red brings invaluable insights into what makes franchising work, and what doesn't.
Red shares his remarkable journey from building a "pooper scooper" business into a nationwide franchise with 148 territories across 28 states, embodying his philosophy that "riches are in the niches." He candidly discusses his evolution from franchise skeptic to industry leader, revealing how his initial dismissal of franchise consultants transformed into a deep appreciation for their value.
The conversation explores the realities of franchise ownership, including the hard truth that franchising requires significant work despite the common misconception that paying a franchise fee guarantees success. Red offers a fascinating look at overlooked franchise opportunities in unexpected industries, from crime scene cleanup to mosquito control—that may not be glamorous but deliver consistent, profitable returns.
Whether you're considering franchise ownership, looking to franchise your business, or simply interested in the business models that drive economic growth, this episode provides a no-nonsense look at the franchise industry from someone who's experienced it from every angle.
Key Topics Discussed:
- Red's journey from entrepreneur to franchise owner to IFPG President (00:01:30)
- How Red built a successful "pooper scooper" franchise across 28 states (00:02:30)
- The three essential traits needed to succeed as a franchise consultant (00:13:30)
- Why "know-it-all" entrepreneurs often fail as franchisees (00:15:20)
- The reality of franchise fees and what they actually cover (00:19:30)
- Surprising profitable franchise opportunities in unexpected industries (00:28:00)
- The true cost of becoming a franchisor and path to profitability (00:33:30)
- Semi-passive franchise ownership and realistic time commitments (00:36:00)
Guest Information:
- Red Boswell, President of IFPG (International Franchise Professionals Group)
- Website: IFPG.org
- Connect with Red on LinkedIn
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Until next time, keep building!