Investing in US Franchises - With Pat Rossi

The Franchise Hot Seat Podcast with Dr. John P. Hayes - Director, Titus Center for Franchising

DESCRIPTION:
Pat Rossi, a franchisee of ImageOne and member of the Titus Center Advisory Board, was interviewed on Franchise Hot Seat. Rossi, originally from Montreal, Canada, moved to the United States on an E2 investor visa. He was introduced to the idea of investing in a franchise by broker Daniel Purim at a conference in Orlando. Rossi already owned a commercial cleaning business in Canada and was looking to expand into the United States, particularly Florida. He connected with Daniel Purim from Franchise Wizards who recommended the E2 visa, which allows him to invest in a company and live and work in the United States. Rossi chose to invest in a franchise rather than start his own business due to the lower startup costs, proven business model, and ability to hit the ground running. He invested close to $100,000, which included the franchise purchase, hiring an employee, purchasing materials, and putting money in the bank for cash flow and capital. He chose Florida due to his love for the state from childhood vacations and the pro-business environment. Despite challenges such as establishing a credit score, Rossi found it relatively easy to launch his business in the United States.
- With Pat Rossi.
TIMESTAMPS:
Introduction and Welcome (0:00)
Pat Rossi joins Franchise Hot Seat
Brief introduction of Pat Rossi's background and his connection to the Titus Center Advisory Board
Initial Meeting and Background (1:10)
Mention of the conference in Orlando
Introduction of broker Daniel Purim and his role
Decision to Invest in a Franchise (3:00)
Pat's decision to pursue the American dream
Background on Pat’s commercial cleaning business in Montreal
Why Not Expand in Canada? (5:00)
Pat’s rationale for investing in a franchise rather than starting from scratch in the U.S.
Franchise vs. Starting a Business Independently (8:00)
Comparison of costs and benefits between franchising and starting a new business
Choosing ImageOne (10:30)
Pat’s process in selecting a franchise
Interaction with Daniel Purim and the selection of Image One
E2 Investor Visa Insights (12:30)
Overview of the E2 investor visa and its requirements
The role of legal advisors in the visa process
Investment Details (15:00)
Breakdown of Pat’s investment amount and use of funds
Attraction to Florida (17:00)
Reasons for choosing Florida for business
Pat’s personal connection to the state
Challenges of Starting a Business in a New Country (20:00)
Difficulties encountered when starting a business in the U.S. from Canada
Closing Thoughts and Thanks (22:00)
Final thoughts on the franchise experience and acknowledgments
LINKS:
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