Why I Left Finance For This: Insights and Opportunities - With Fred Fry

DESCRIPTION:In this episode of the Franchise Hot Seat, host John Hayes interviews Fred Fry, Vice President of Franchise Development for 16 Handles. Fred shares his career journey from banking and finance to the franchise industry, highlighting how he discovered franchising through a friend at church after relocating to Texas. He previously worked with HTO and Shipley Donuts, where he played key roles in their significant growth. The episode dives into the appeal of franchising, the opportunities for financial and personal growth it offers, and the challenges and benefits of different franchise concepts. Fred emphasizes the importance of community involvement, systems, and strong management in ensuring franchisee success. The conversation also touches on financing options for franchisees, including SBA loans. Fred discusses the strategic decisions that new leadership at 16 Handles has made, including community engagement, technology stack improvements, and leveraging social media, to ensure the brand's growth and success.- With Fred FreyTIMESTAMPS (Use ChatGPT on Transcript):00:00 Intro00:28 How did Fred start franchising?01:57 What drove transition to franchising?03:32 Why franchise in Texas? Costs?05:29 Biggest franchise development challenges/rewards?07:31 How to finance franchise investments?10:20 Best ownership style for engagement?16:48 Why is franchisor support crucial?21:04 What killed frozen yogurt's boom?30:23 Why are franchise systems important?LINKS:WEBSITE: http://franchisehotseats.com/LinkedIn: https://www.linkedin.com/in/drjohnhayes/Twitter: https://twitter.com/drjohnhayesYouTube: https://www.youtube.com/c/HowtobuyafranchiseInstagram: https://www.instagram.com/hayesjph/TikTok: https://www.tiktok.com/@johnphayesfranchisePinterest: https://www.pinterest.com/DrJohnHayes/Facebook: https://www.facebook.com/franchisehotseatpodcast