How Technology is Driving the Future of Franchising with Dave Liniger

<p>There are more than 750,000 franchises in the United States, meaning that more than 10% of American businesses are part of the franchise model.</p><p>Adam welcomes back Dave Liniger to talk all about franchising and technology is likely to be one of the biggest drivers of the industry moving forward.</p><p>Dave Liniger started RE/MAX in 1973, and it has become the largest real estate company in the world with a record year in 2021. He also runs a private equity company, Area15 Ventures, focused on emerging franchisors and high-growth businesses and franchise concepts.</p><p>Dave tells story of beginning of RE/MAX and selling his very first franchise in Kansas City. Over the course of the next two years, Dave sold more than 100 franchises across North America.</p><p>Dave explains the concept of a franchise as a system of methods, training, advertising and more that can be imparted on franchisee. The franchisee pays a fee to buy into the concept and pays the cost of opening a business, making the franchise model a great way to rapidly expand a business concept without it being cost-prohibitive. </p><p>Dave shares the four key elements of franchising:</p><ol> <li>Unique product or service</li> <li>Brand, advertising and market share</li> <li>Purchasing</li> <li>Training Technology and Systems</li> </ol><p>Dave shares the story of the success of the McDonald’s franchise and how it transformed the fast food franchise industry.</p><p>One of the biggest benefits of owning a franchise is the access you receive to a network of peers. You get to learn from each other and share ideas and insights to grow businesses. Dave also shares that every significant, good idea for RE/MAX came from his franchisees. He tells the story of how breakfast, the filet o’ fish and the Big Mac started at McDonald’s thanks to the ideas of franchisees. </p><p>Adam and Dave talk about a new franchise concept they have acquired through Area15 Ventures called Daddy’s Chicken Shack. This business is a great example of how technology is dr