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When Franchises Fail: My $200K Investment Gone Bust
Manage episode 445399771 series 3490137
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In this eye-opening episode, I dive into the highs and lows of my entrepreneurial journey, starting with the sale of my successful property management business. I share how I transitioned into a new venture, investing in a promising tiny home franchise that seemed like the perfect fit—until it wasn’t. The unexpected closure of the franchise left me and my family blindsided, with a loss of $200,000.
But this isn’t just a story of financial loss; it’s also a story of resilience. I explore how adopting a Stoic mentality helped me navigate this challenging time. From controlling what I could to letting go of what was outside my control, I explain the mindset shifts that helped me endure and grow through the experience. Tune in to hear the lessons I learned about risk, loss, and finding strength in adversity.
Key Takeaways:
- The Transition from Property Management: Why I sold my successful property management business and what led me to invest in a tiny home franchise.
- The $200K Loss: How the franchise unexpectedly went out of business, leaving me high and dry.
- Lessons in Due Diligence: What I wish I had known before investing and why understanding the risks is essential in any business venture.
- Stoic Philosophy in Business: How adopting a Stoic mindset helped me handle the emotional and financial fallout of losing such a significant investment.
- Bouncing Back: My strategy for moving forward, learning from failure, and staying optimistic for the future.
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