176: Build Wealth Through Owning a Franchise: Advice from Kim Daly

Join us in this episode of Passive Investing from Left Field as we sit down with franchise expert Kim Daly. Kim shares her incredible journey from answering a classified ad to becoming one of the top franchise consultants in the industry. Discover how franchising can be a powerful tool for building wealth and achieving financial freedom. Whether you're a seasoned investor or just starting out, Kim's insights on selecting the right franchise and managing it effectively are invaluable. Tune in and learn how to make franchising work for you!   About Kim Daly  For more than 20 years, Kim Daly has been helping people realize their dreams of business ownership through franchising all the while living her own dreams through her franchise. Today, she is recognized as one ofAmerica’s top franchise consultants having created nearly 1000 franchise owners. She is an international best-selling co-author of Franchising Freedom and the founder and host of KimDaly.tv and Create Wealth through Franchising Podcast. Kim created the “The Daly Plan” – a millionaire mindset coaching program that she used herself to build the largest franchise consulting business in the history of franchise consulting in 2012. She is a mom of two teenage boys. She is passionate about fitness and nutrition. She loves to workout and ski, and she lives on the beach in southern New Hampshire.  Here are some power takeaways from today’s conversation: 02:04 Her journey to franchising  03:11 How has franchising changed over the last 20 years 04:41 A "want based" business  06:45 Why do LPs like franchising? 09:56 Typical rate of failure with franchises  13:06 Common characteristics of a successful franchise 14:23 How to vet a franchise?20:38 Deciding on an industry to franchise  24:56 Passive franchise opportunities 28:30 new franchise opportunities  32:19 Do the interest rates affect franchises? 36:20 What is the exit of a franchise?  41:24 Podcast Recommendation 42:44 Contact Kim   This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.         Podcast Recommendations:Money Ripples Podcast: https://moneyripples.com/podcast/Wealth without Wall Street: https://www.wealthwithoutwallstreet.com/Mind Valley App: https://www.mindvalley.com/apps Resources Mentioned: Contact the guest:LinkedIn: https://www.linkedin.com/in/dalykim/Instagram: https://www.instagram.com/thedalycoach/ Kim's Podcast: https://www.thedaily.coach/ Advertising Partners: Vyzer:https://vyzer.co/ Left Field Investors:https://www.leftfieldinvestors.com/ Rust Belt Capitalhttps://rustbeltcapital.com/ Avoiding Rookie Errors as a Left Field Investor: 20 Lessons Learned From 14 Years of Passive Investing in Private Syndications by Steve Suhhttps://www.leftfieldinvestors.com/books/