Business
After 17 years in corporate sales Christy Wilson Delk decided to risk it all. In 1996, she sold her house and cashed out her 401(k) plan for the down payment on a $1.7 million-dollar loan she needed to buy and build a Kids ‘R’ Kids Academy franchise in Orlando, Florida. Over the next 15 years, Christy expanded twice and grew her business into one of the largest franchises in her industry before her multi-million dollar exit in 2012. Now, as a college professor and a franchise industry expert, Christy, has turned her focus to helping franchisees realize greater professional rewards by complimenting existing franchisor systems and processes with her 4 Pillars Approach. Her book, Adventures in Franchise Ownership is based on her experience and includes advice from 18 other top performers representing 12 different segments. Key Takeaways: [0:18] Today’s episode of Franchise Euphoria is brought to you by IndyFranchiseLaw.com, a leading resource in the franchise space. Head over to IndyFranchiseLaw.com learn more! [0:59] Josh introduces today’s guest, Christy Wilson Delk, an author, speaker, and educator in the realm of franchising. [2:08] Josh welcomes Christy to Franchise Euphoria. [2:55] Christy introduces herself and sheds light on her background in the franchising industry. [6:54] For anyone who is considering “pulling the trigger” on franchising, Christy would encourage them to maximize their use of resources to determine which franchise is the best fit. [9:34] While Christy didn’t have experience in the franchising industry before buying a franchise, she discusses why that isn’t essential. [12:51] In Christy’s opinion, it is easy to get caught up in the numbers as the franchisee, but returning to your underlying passion helps revitalize your business. [15:05] One thing that gave Christy confidence in buying a franchise was making sure she had enough time and money to hire professionals such as an attorney and a CPA to assist with this venture. [16:58] Christy shares about how her experiences led her to write her book, Adventures in Franchise Ownership. [22:11] The “Four Pillar Approach” is a framework to strengthen, protect, and grow a business. [29:28] In regard to the coronavirus situation, Christy encourages everyone to think about the things you can control to keep moving your business forward. [33:44] Josh encourages everyone listening to be putting together action steps for your business to put into place when things do get back to normal. [35:47] If you want to learn more about Christy, visit her website listed below. [36:24] Thanks for listening, and please, reach out to Josh anytime through email at josh@franchiseeuphoria.com. If you enjoyed this interview, please leave us a review on iTunes. Mentioned in This Episode: josh@franchiseeuphoria.com www.franchiseeuphoria.com www.indyfranchiselaw.com www.ChristyWilsonDelk/listeners (Download complementary worksheets and exercises) Adventures in Franchising Ownership https://www.linkedin.com/in/christywilsondelk https://twitter.com/WilsonDelk https://www.facebook.com/ChristyWilsonDelk https://www.instagram.com/ChristyWilsonDelk