Rich Potter: I Bought the Wrong Franchise So You Don't Have To

Rich Potter represents more than 500 franchise concepts across 37 industries, and he got there the expensive way. He bought a Snap Fitness gym in 2019 without a broker, found it did not fit his life, and sold it inside nine months. Host Zaneta Chuniq Inpower gets the myths, the math, and the personality test.

Rich once owned a Snap Fitness gym. Jeremy's own fitness project is The Body Arcade, a weigh-twice-a-day method and a $1 app, and the two of them should compare notes on who actually shows up.

In this episode

• What a franchise consultant actually answers, and who it is not for
• The entrepreneurial assessment used up front to match people to systems
• Following your strengths versus chasing a hot trend
• Rich’s own cautionary tale: the gym he bought and sold in nine months
• The biggest myths — that franchising means food, and that you need half a million dollars
• Semi-passive versus owner-operated, and keeping your job while a manager runs it
• Who thrives as an owner: veterans and burnt-out executives
• The industries that are relatively AI-proof: plumbing, HVAC, senior care

“There’s like 8,000 franchises out there. So trying to find the right one for yourself on your own can be very difficult.” — Rich Potter

“It’s gonna cost you $2 million to buy a McDonald’s. You’ll be lucky if you net 80, $90,000 a year on something like that.” — Rich Potter

“As is the occupational hazard that we hear about when you start becoming a franchise consultant, you end up being a franchise owner eventually.” — Rich Potter

Read the full recap: How I Bought the Wrong Franchise So You Don't Have To

Connect with Rich: franchiseheroes.co

Hosted by Zaneta Chuniq Inpower. More at Unscripted Small Business.