Cole Robinson: Why Franchising is a Great Entrepreneurial Option - And How to Get There

Special guest this episode: Cole Robinson. Cole rose from door to door selling books in college, to the retail floor of a major department store, then joined a small marketing company and helped them grow from $6M to $22M. She decided at least a year in advance that she needed to leave her job and start a company. She enlisted a mentor, saved money, did a ton of research and finally pulled the trigger. Cole always had the goal to own her own business before 40. Well she did that and today she's created the work-life balance and income she always wanted.

0:20 Cole’s swimming pool background looks like a serenity screensaver

1:24 How to thrive and survive in this COVID-19 situation we are in

1:40 Cole’s walk-in song - personal “pump up” song

3:29 Start with opening slide: Is this a massive change in our lives and work?

4:33 Allen’s start-up advice: Plan for the worst, hope for the best

5:15 Cole’s been through two other massive crises before, including after 9/11 – this is something else to navigate through

6:39 She is optimistic

7:01 This crisis is different, will create changes in overall business to personal contact/touch and space – we were not prepared for this

8:18 SPONSOR: Executive Launch (www.execlaunch.com) – from corporate executive to startup founder 10:05 Cole’s background

12:28 The makeup counter at Dillard’s department store

13:03 Left retail for recruiting and got let go!

15:06 Melanie, a listener, sold knives for three months

16:56 Michelle, a listener, sold copiers door-to-door (so did Sarah Blakely, founder of Spanx)

18:50 She said after selling copiers she could sell anything to anyone and learned she could find the answer to anything for her customers

20:18 Her advice is ”look outside the box” and Cole added Michelle knew how to make lemonade from lemons

25:30 Allen says we need to let ideas flow, opportunities flow, it’s tough times out there

25:49 When Cole was in sales, she wanted more and said she was lucky to work for entrepreneur business owners who had that mindset

27:22 Cole says “It was in me” 29:33 She had savings of $100,000+ before she launched her business

31:05 Purchasing a franchise appealed to her

33:28 She didn’t want to be 40 and working for someone else

34:02 She was burnt out on what she was doing

34:14 She wanted to be there for her daughter in school like her parents were for her, and to be financially secure when her daughter graduated

34:54 Cole talks about FISH commercial window cleaning and their business history

35:57 Their first franchise was in Tampa, Florida

37:09 How COVID-19 is affecting her business

39:15 Allen sees being an entrepreneur as an insurance policy, an opportunity to control your own destiny and not be so vulnerable in your job – the current situation is a “wake-up call”

39:44 Cole had to lay off some of her staff and knew she could go clean windows herself

40:22 Her business enables her to always take care of her family and have freedom with entrepreneurship

41:00 Cole answers question from listeners regarding franchising

43:36 Allen advises that nothing will come as easy as you imagine it

44:32 Cole is not afraid of hard work

45:02 She found the first 3-4 months of being in business exciting and her honeymoon period lasted for the first 18 months

45:47 Hiring employees was the hard part – January 4, 2018 was a tough moment

47:03 Cole talks about mental toughness

52:11 What advice would Cole give her younger self in this situation?

57:15 Faith is the center of everything for Cole

58:11 Prior to her quit to start, she knew that she could do more on her own and for the greater good than working for others.

59:10 Cole reached out for help, mentors were important

1:02:13 Cole says it’s time do a personal inventory, freshen up, reach out to references

1:04:03 Carl, a listener, asks Cole a question about what the franchise offered that she couldn’t do on her own

1:06:39 Her answer: teach her how to run a business holistically

1:07:03 How she markets her business – on the streets and networking

1:07:35 We see Cole get tough and a glimpse of her highly competitive mindset!

1:08:53 Allen wants to be of help to people, give advice – discussion about “pivoting” and how it is a great time to absorb information and become more educated - sharpen your skill set!

1:13:13 Small businesses are going to be born, make lemonade from lemons… maybe now is the time

1:15:18 Cole suggests business ideas for now could be around the cravings for entertainment and interaction

1:20:52 Workforce development gaps will be filled with people looking to be re-trained to do different jobs

1:22:13 Cole asks Allen for the first three things he will do after the pandemic

1:23:22 Cole thinks tele-health is absolutely the future

1:26:40 You know it if entrepreneurship is or isn't for you

1:29:48 Wait for it to come to you – that is a powerful message

Cole's Business: www.fishwindowcleaning.com/Tampa-FL-3187/

Allen's new book Quit to Start: www.quittostart.com