Get Authentic with Marques Ogden
Get Authentic with Marques Ogden

Episode 31 · 1 week ago

Get Authentic With marques Ogden - Doug Stout

ABOUT THIS EPISODE

Doug is an entrepreneur and the founder of Stout Franchise Advisors.  Doug helps business owners get into the franchise business or help them turn their existing business into a franchise.  Join us as Doug shares with us his tips to help you build your empire, to live the life you deserve for yourself and your family

Yea glorybody and welcome to episode number thirteen of it. Get Authentic with Marcut show. I'm your host, Marcus Ogden. Today, episode number thirteen, or everything. My great friend Doug Stout of Stout Franchise Advisors. Stout Franchise advisors in one of our major sponsors. Doug helps people that want to get into the franchise business orbit that already have a business that might want to franchise their operations. Now that's welcome to the stage, my good friend, Mr Doug Stout. Hey, Marcus, how you doing? Doing well, my friend, doing well. So, Doug, the first question I ask any guests before we start their interview, what does the Word Authentic mean to them? So, Doug, can you tell our arts? What does the word authentic mean to Doug Stout? You know, for me, I think the world, I'll think me is just keeping it real, being who you are, you know, don't fake anything. You know, just just to be real. You know about who you are. M So don't we ask you a question? Why do you feel so many people today, especially through like the pandemic things that are happening around the globe, you know, and of course in our country as well, especially all around the globe. Why do you feel so many people struggle with authenticity or being authentic in their own way? You know, that's a good question. I always go back to our times have changed. You know, when I was a kid, I grew up in West Virginia and then you couldn't hide anything. I grew up in a small town and people knew who you were and pretty much do everything about you. So you're authentic no matter what, because if you weren't, you'd be called out on the perfect just how it was. You fast forward to today, people can hide behind so many different things. You know, you can look at somebody's facebook profile, and I got friends, so I can look at and say, wow, they've got such a great life, but yet I know them and know what's going on and they're not authentic. I mean they're saying one thing but their situations another. I think it's just real easy to hide behind social media. M Hm. So dog, tell honest a little bit more about you. Where you're from. You said you from West Virginia, your upbringing, education background and then, of course, your early corporate career to now what you're doing as a very successful entrepreneur with stout franchise advisors. Sure. So I grew up in West Virginia, was born...

...and raised, went to w Vu. Um stayed in West Virginia for four years. So when I graduated college in ninety two there was economic turmoil going on. Then I got my first job retail management. Toys are US definition of insanity. Great Company, but man, I learned, learned a lot of things. Um Left toys R US and relocated to South Carolina. Leaved in myself and said, you know what, I'm going to relocate down here. Relocated down here. Um started with a company called I t t tech as a college recruiter. You know, I did that for a while and then got into I t recruiting, which was phenomen was having great success being an I t recruiter and then the company got bought out. So I had a billion dollar company that got bought up by a hundred million or a hundred million dollar company got bought up by a Billion Dollar Company for the client list and they laid everybody off from the hundred million dollar company. So that's the first time. I went through a caruer to musicians. M I went to go work for a small mom and pop and then eighteen months later they right out of money. So that's the second time I went through career transitions. So I'm like there's gotta be a better way now thinking about things and looking at things in kindsight. One of the best things my parents ever did for me, Um, was they got me to be a newspaper carrier when I was in second grade. So I was that kid with the baseball hat delivering Sunday papers, living Monday through Wednesday paper, Sunday Saturday papers, and that put the entrepreneurial bug in me, if I didn't realize it at the time. Fast forward, when I got laid off for the second time, I'm like, you know, I've always been able to make things happen for myself, no matter what's going on with my career. So I saw my best friend. He had bought a franchise. Um, I kind of talked him out of it and it was the best thing he could ever done for himself. And he was fixing wheels. I knew nothing about wheels, so my but if he can do it, I can do because he was, you know, being very successful and he still has that same franchise today, you know, eighteen years later. So I went to my franchise seminar got involved in my first franchise, which is the entrepreneur source, and you know, it was a franchise to help people find the right franchise for themselves. So I've still been doing that now for the last eighteen years, not this time with the entrepreneur source, but with Franchise Consulting Company and Stole Franchise Advisors. But then I've also owned a couple of the franchises. It's lucky to have two best friends in life. You know. The other one we got into a partnership and developed out a senior care franchise where we developed half the rights in North Carolina and South Carolina for senior care. We built that up, sold that, got into karate. Knew nothing about karate, but it was it was fun and get to see lots of kids succeed. We sold that when we could adopt our child, which was awesome because we needed to to have a little bit more free time. And currently my wife and I, you know, we just caught our fourth frame task of free cut nails or...

...in the process of building it out. It's a semifst O ship franchise. So hopefully here in three months we'll we have our doors opened up and we'll have that one go. You know, Doug, I have a saying let's get real, and let's get real for a moment. It sounds like to me in your entrepreneurial ventures, right, you didn't know everything you needed to know about your specific business, but you knew enough to either get a partner or get into, like you said, a franchise where they could teach you about the business and tell everybody how important that is. You know, if you don't know a business right, people say you can't get into the business. And what I'm hearing from you is you didn't know the business, but you still got into it because you had the right partnerships or you had the right franchise or that taught you the business. So you can succeed at like you said, with your karate business that you got into, and then you with your friend and the health care you sold that that you got into cry after that. So it sounds like to me, Doug, that you did not only not understand importance of teamwork and partnership, you understood the importance of getting education from the right credible sources. Right, Doug, to succeed in your current ventures at those times? Absolutely so. When I got into franchising, you know, I've been in eighteen years now. The first time I looked at it I really thought it was McDonald's, fast foods. It's all. My friend get into his franchise and like okay, this is more than what I thought it was. So all the franchises I've owned, Um, I knew nothing about those industries. I knew nothing about nails, I knew nothing about, you know, martial arts. I didn't know anything about senior care when I got into it with franchise and your business for yourself, but not by yourself. All the systems are there. The franchise or will keep you how to work inside those systems. You just gotta have the drive to do it and I knew I had that. So as I did my investigation process, I learned hates a team environment and that was important to me. I throve a team environment, so I even hate there's rules and regulations. I'm great at following processes and procedures and that's what franchising is and that's why I'm excited about it and might have enfranchises. M You know another question Doug you said something. I just took a note of it a moment ago. Processes and procedures. Okay, I believe there's four key elements, four key parts with successful business. Marketing, sales, operations, finance, processes and systems. Falls under operations. If you have the right process and systems right, Doug, I think you can succeed any business. If you have a great idea, lots of money, need lots of innovation, great marketing,...

...but you have no process in no systems, I feel you're doomed to fail because eventually, when you get a job, if you can't execute a job, you will get what's called a bad reputation. Tell everybody about how it's so important the franchise business right, Doug, to get with franchise. So words that have excellent processes and procedures to help you succeed. It's very important because with franchising it's all about following processes and procedures with them because, as you look at things, you know the franchise or want you to succeed. Um, they have invested interest in it. You pay a franchise fee, which typically or breaking even proposition for the franchise or they want you to go through and say hey, look, follow a V, C and D and it's gonna lead to success. They haven't spelled out. That's why they franchise their business. They know it's a proven business. They know what's going to work. The great thing about franchising is it's government regulated by the Federal Trade Commission, has been for the last fifty years. So as people are doing investigations into a franchise, they can talk to franchise ease to make sure that the process and procedures are working. Nothing can be hidden from you because you're gonna have their name, mattress and telephone numbers. So you'RE gonna start calling those guys. If you like that franchise. Start calling the franchise ease and saying, Hey, does this work? What spend your experience with the process and procedures? You know, do you feel like the franchise or supports you if you need help? Do you feel like do they work? Do they adapt, because you know we have changing our climates, so do they adapt in different environments? So they're very important. You know. I want to pivot really quickly and ask you this question. When you talk about adapting, changing, adjusting to your environment right. What type of franchise businesses would you say is a good fit for a beginner? Let's say, spout into this episode, right, Doug, and they really like what you're talking about. You yourself have been in the business, so you you have your own personal success and experienced stories to go along with. You know what you're doing and they're like, man, I like what Doug is saying. I want to get into the franchise business myself. What would you say are some good type of industries businesses people should get into it? Their beginner trying to test the waters about. Maybe they they want to get into a franchise business and maybe that could be the next big thing they can maybe make a career or their full time. You Know Passion. Well, I would say most franchises can work for anybody, whether you're a first time franchise owner or you're an experience business person. But the important thing is to have a game plan and most people get into business ownership and they're like, Oh, I'm gonna buy a...

...subway, but they don't think about, Hey, what are the goals, needs, expectations? I went out of that business. What's the income, lifestyle, wealth, equity goals I want out of that business. You know what's the exit strategy going to be. So a lot of people don't put together that game plane in the beginning and I think that's so important because you want that game plan to match up with the franchise. With franchise you've got a couple of different options, active ownership. So if they need something to rape up quickly, they become an active owner and they're in their business forty fifty hours a week. Some people, you know, have a great job but they're looking to build that safety net for that what if scenario. IT WEAPONS IF I lose my job. Where we wanted to do investments, there's great semi absentee ownership for options for people like that, where you manage the managers. It really depends on what people want out of the franchise. You know, Doug style franchise ad biases one of our sponsors and we're so blessed and grateful to have you all board to support our snation and our sponsorship, excuse me, to support our podcast. With your sponsorship. Can you tell our audience a little bit more, give them more information, more knowledge about what you do with Stout Franchise? Advisor. Let's say I come to you right Doug, and I'm interested in getting a franchise. How do you help me? How do you charge? What can I expect? What is that process and procedure if I was to retain Doug Stout and stout franchise advisors to go ahead and help me become a franchise e and start my own business? You know in that regard? Sure. So the process is all education based. So it's free and I'll kind of explain that here in a second. But it's four steps really that we take people through. Number one is I got to take it to know people well, so I send them out a questionnaire. I have them fill it out. Um, I link in with them because I want them to be comfortable with WHO I am as a person, who we are as a company. They filled this questionnaire out for me. Takes them about twenty minutes. I'll get it back and I'm gonna have a lot of questions based on how they answer things. It goes back to start building that game plan, that business plan. Now I gotta understand goals, needs expectations for business ownership. Income, lifestyle, wealth, equity. Goals for business ownership are they're going to have a partner, that they're gonna be a husband and wife team, our kids going to be involved. You know, exit strategies. I want to gather all that data. Once I have that data, I can then go out and build a customize business plan for them, start doing research for franchises. So in step two I'm going to introduce franchises to them, the master business plan, but also have availabuilding where they live at. So the franchise work. They already know. Hey, the demographics work. They want to be there. So I'm introducing things that, hey, makes sense for them. So in step two I'll give them an overview of the franchise as and then I'm going to put them in...

...touch with the director of Franchising Development for the vice president of Franchising Development. So they'll start having those conversations with those folks. As they're having conversations, we're gonna meet weekly. Let's talk about what you're learning, what questions you have. How do you get the answers to those questions? You know, some of them our franchise were related, some of them our franchise he related, but we're gonna have those discussions on how we're gonna get all those answers again. Franchising's government regulated. A lot of disclosure documents, so we're gonna make sure we understand those disclosures, the information that's in there. As they're learning, they'll start putting things on the back burner. You know, we may get to the point you know, hey, one of these franchises and moving forward. We're moving to step three. It could be hey, none of these franchises makes sense, but we locked, we learned a lot of information. I gotta go back and do more research. Can't understand what you're liked and didn't like. Or we could learn hey, this is just not the right time right now, so we need to put things on the back burner and come back in a year or two, which is totally fine. You know, those are typically the three options we see. But if they get to step three, that's where they're going to a franchise or, and it's called a discovery day. That's where they're gonna meet, you know, the franchise or in person. They've talked to them over the phone, but now to meet the OPS team, the training team, the marketing team, the president of the company. Now they're looking at these guys like can I have a good working relationship with them, because that's important. It's got to work for them. Now the franchise or is doing the same thing they're looking at. Okay, we've got to disclose all of our franchise ease. We want to make sure we've got a good working relationship with them. Then also at that event there's other people like them from other parts of the country are that exact same step. So they're gonna hear their stories, what they've learned, why they're looking at this. Everything goes well there. You know, step forward. Funding. I've got Moan on my staff. She's got thirty years experience in lending. We'll guide you through that for free. We work with all the different ways to fund to franchise. And then legal, if you need a franchise attorney to review documents with you. We can make recommendations there. You know. From there that's when you're really going to decide. Hey, I'm gonna do this franchise or not do the franchise. How I'm compensated is by franchise or worst, so I'm free. Franchising is a fixed feet industry, so there's a one time franchise fee set in stone. So whether you use me or not, use me still the same fee. How I'm compensated is like a recruiter, I get a percentage of that fee for like a real estate agent. So they don't compensate me. Franchise works due you know, Doug, I heard a lot of great information. I heard the process is very systematic. It goes step by steps, so it's not overwhelming or you feel that you're just getting a lot of things thrown at you at one time, which can be very overloading for people if they feel it's so much things coming at them they don't know what to look at with the...

...process. So I think your step by step is great. I love how you said you don't charge the clients. So this way, if I'm your client, I know that you have my best interests at heart because you're not trying to take my money or drag the process on or make it longer. You're doing what's best for me because you don't get money until I close with the franchise or so this way I know you're working and acting my best interests. And the third thing I love is the amount of options, like these franchises don't work for you. Let's go back to the drawing board. Hey, you know, doing this right now doesna be a good sentence. Is gonna be a good fit for you. Let's go back to the drawing board, come back in a year or two. So this is fantastic information does, because I feel sometimes people fake. Getting into the franchise business can be very quick. It could be very you noticed I need to find one to day and sign up and all. And I love how you said funding and options. You's going for thirty years, so they know how to get the right funding for the best opportunity for you to get the best deal for your clients. So a lot of gry information here. Anybody's we can get into franchising or get into the business. Doug is an excellent person to call. He knows it. He was in it himself. He has built franchises, sold them, reinvest into franchise that didn't know anything about. Certain Franchisees, built the right team, got the right knowledge, has success. His clients are doing very well in the respective industries. These are the type of people that you want to work with, the credible people and see, let's get real one more time in business it's not who you know, it's who knows you and will vouch for you. And I can vouch for Doug. I've been working with him for almost two and a half years now. Very ethical, very dependable, very loyal and he shows up. He's consistent right, so he's always gonna be there. He is smiled, that is ethical and he's gonna always have people's, his client's best interests. So, Doug, if people wanted to get in touch with you, connect with you, find out more about, you know, franchising, and you want to engage you for your services. How can people get in touch with you? There's a couple of different ways. You can always call me. You know my phone numbers. Eight, six, four, three, four, six, five to seven. Seven. You can go on my website, which is stout franchise advisors dot com. Or if you just Google me and you'll see me on linkedin. Um, go free to connect with me on Linkedin. Just message me over linked in. You connect with me that way, Doug. Before I give my authentic tip for this interview, one final question I have. What is the main characteristic that somebody needs to have? It's non negotiable if they're gonna get into the franchise business? Would it be team building abilities?...

Would it be discipline? Would it be, you know, patience? Would it be forgnitude, focused like? What is that one main characteristic that somebody needs to have if they're gonna be successful in the franchising business? Wow, you know, I think internal drive and belief in yourself that you can do it. You know, I see a lot of people that have been beat up, but you start looking at their career and successful things that they've done and sometimes I've better remind them, Hey, your success. Look at all these things that you've done that you've told me about. This is all going to apply to business ownership. Just take time and look back at your past and say, I was success at this, this and this. That's all gonna follow you into business ownership and you've got to have that drive and belief. Ladies and Gentlemen, my authentic tip for the day. Like Doug said, you have to have that internal drive and belief in yourself. There is a three step process. You have to see it, you have to feel it, you have to believe it. If you don't believe in yourself, why would anybody else? So when you get into being a franchise or franchise. This is like Doug is talking about starting a podcast, speaking, being an entrepreneur. Whatever you want to do right, if you don't have and maintain that belief in yourself, you will eventually fall off the wagon. It's not it's not a question, because if you don't have that internal drive to do and be your best, you're not gonna get to your best opportunity, you're not gonna get to that potential finish line because you're not allowing yourself to push forward through adversity, hard times and struggles, and when you come out on the other side of that, that's when you know you are prepped for success again. Everybody, if you wanna geto the franchise business, if you have any questions about that, you want to know more information, reach out to Doug. He has tons of knowledge, tons of experience. He's very authentic, which is why he's on the show. Great Guy, he's very coachable. At the end of the day, why Doug is the best to work with. He will always have your best interests at heart, and that's what's most important in business. Who Work with if they have your best interest, if they have your back, everything will take care of itself again. This is Marcus Alden, the host, up to get offensive with market show Anti Tunity.

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