ABOUT THIS PODCAST

There is zero formal financial education through the standard schooling system.
Your formal education prepares you for your career and making money! ...but after graduation you're on your own trying to figure out what to do. This leads to a lot of frustrated, furious people!
Finance and Fury picks up where your formal education left off, providing a unique insight into the world of economics, personal finance and building wealth with three different episodes each week.
To start the week, in Mondays' episodes we look directly at personal finance, so you can act independently and make your own financial decisions - not follow the crowds. Let's be real here, how well is that working out for the ‘average’?
Say What Wednesdays – Each Wednesday we give you the answers you are looking for and respond to questions from our listeners (that's you!)
Furious Fridays – Each Friday we explore often misunderstood topics about finance and the economy, shedding some light in dark places, and challenging some common misconceptions.
English
United States
213 episodes
since March 22, 2017

LATEST EPISODE

Welcome to Finance and Fury, the Say What Wednesday edition John’s Question: I thought a useful topic could be about pros and cons off starting a business and starting your own business vs buying a franchise system etc. and using a business to achieve financial freedom.  Personally, I have been looking into options to start a business both online and franchises. I have found that starting an online business can have a very low startup and ongoing costs, which is attractive but finding something that can be worthwhile is difficult. So far I have been leaning towards buying a franchise due to the systems already in place and there service or product already being tried and tested. But obviously, this incurs a higher startup cost and ongoing franchise fees etc.  But I am not a skilled tradesman or professional such as a website developer or marketing expert etc.  with a unique selling proposition, so therefore a franchise system is most likely a better option for me to pursue.    Starting an online business or franchise First – Check out the Episode towards the start of the year about figuring out what type of business to get into – Won’t cover that part – but say that you have an idea in mind about the type of company: How do you start a business? What you need: idea, clients, cashflow, capital What types of business have high upfront capital requirements? I.e. higher barriers to entry First key steps – what do you need to have planned out? What are the most important things to have ready before starting? What are the most important things to focus on in the first 6 months? Problems will happen along the way – what are some major ones that you have seen, and how could these be avoided? What if you don’t know what type of business to get into, or don’t have a selling proposition? – Purchase a Franchise How does the purchase of a franchise work? What are the costs, and how much support is provided? Can you get financing to buy a franchise? If so, what LVRs? Have you seen any types of franchises which are the most profitable? What are the best ways to structure each? Best way to structure a franchise (Trust, company, sole-trader etc.). By yourself Partnership Best way to structure a business (Trust, company, sole-trader etc.). By yourself Partnership Which has better cashflow potentials? Any type of franchises that have more consistent earnings than others? How do the valuations work on a franchise compared to a company? Which industry/types receive the best valuations? How easy is it to find someone to buy your company/franchise if you are looking to step back? Summary of pros and cons of starting a business vs buying a franchise system Pros of a Business – When would you want to start a business? Does it give more control over service offering? Pros of Franchise – When would you want to buy a franchise? Are they more successful than starting your own? Cons of Business – When would you not want to start a business? Any horror stories you have Cons of Franchise – When would you not want to buy a franchise? Any horror stories you have   Thanks for listening,  If you want to get in contact, you can do so here. 
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