The Pursuit of Profit

Becoming a successful franchisee doesn’t happen overnight.

Don’t let a franchise broker talk you into buying multiple licenses from a brand that only wants your money and never intends to help you open a profitable business.

​Book a 30-minute call with us. Franocity identifies three potential brand options that suit you, preparing you for impactful meetings with brand executives.

Hi Reader,

In 1994, Lance Freedman was just a young entrepreneur hungry for success, working alongside an entrepreneur who would become his mentor.

This relationship paved the way for Freedman's move into a management position and eventually led him to branch out with his own store. Embracing the mentor's advice, Freedman overcame his fear of losing clients by hiring someone to train them, allowing him to focus on growing the business.

This pivotal decision marked the beginning of his journey to becoming a "boutique franchisor" with XPONENTIAL FITNESS, now encompassing 11 fitness brands, including Club Pilates, CycleBar, StretchLab, and AKT, a dance hit-based concept in partnership with Julianne Hough of DWTS.

Freedman's franchising philosophy is encapsulated by his commitment to following a well-defined plan, ensuring the success of his stores and, by extension, his franchisees.

​On this episode of Franocity’s Pursuit of Profit podcast, we talked with Freedman about his 30-year career at every level in franchising.

There’s a ton of great lessons in this conversation, but we’ve boiled down the essence of something we preach all the time — you don’t buy into a franchise. You’re awarded a license.

Since he started out in business as a franchisee and now leads a team that determines which applicants are a good fit for his company’s 11 brands, we wanted to share his wisdom in this area.

3 Red-Flag Traits for Franchise Applicants

As Freedman transitioned to awarding franchises, he identified three key traits that could disqualify potential franchisees, emphasizing the importance of alignment with the franchise's high-growth systems and culture.

The Deviator

Individuals with an innate desire to innovate or alter the brand's proven blueprint are encouraged to pursue their own ventures. Xponential Fitness seeks franchisees ready to adhere to established systems for mutual success.

The Zealous Visionary

Passion for the fitness space is crucial, but it must be balanced with solid business acumen. Xponential Fitness looks beyond enthusiasm, seeking franchisees with the skills to execute effectively within the system and contribute to the brand's culture.

The Engaged Leader

Success in franchising demands more than just good intentions; it requires active participation. Xponential Fitness values franchisees who possess strong people skills and the ability to build a winning culture, crucial for managing employees and ensuring customer satisfaction.

Freedman's approach to selecting franchisees is not just about finding individuals with the financial means to invest but those who align with the brand's values, are prepared to engage actively in the business, and have the skills to navigate the challenges of retail and service industries successfully.

Like Freedman, Franocity sets expectations for potential clients because our job is to set our clients up for success. If you’re thinking about starting a new business, let’s talk. We’ll get to know you better, then give you our unvarnished best assessment about if or where you can thrive in a franchise. Book a 30-minute call with us.​

Talk soon!

The Franocity Team