95: Business Expansion During the Pandemic With Todd Bains

<p><span style="font-weight: 400;">While the COVID-19 pandemic has impacted so many businesses around the country, now might be the perfect time to actually expand. With franchises hurting and possibly looking to get out, those thinking long-term have access to more affordable avenues of business expansion right now.</span></p> <h2><span style="font-weight: 400;">Business expansion during a pandemic</span></h2> <p><span style="font-weight: 400;">On this episode of the Franchise Secrets podcast, Erik is joined by Todd Bains, the owner of several Massage Envy and Sports Clips franchises. Erik talks to Todd about his recent expansion, including buying seven more locations.</span></p> <h3><span style="font-weight: 400;">Listen to Erik and Todd talk about business expansion:</span></h3> <p><strong>Introduction</strong></p> <p><strong>Todd’s franchise portfolio (0:55)</strong></p> <p><span style="font-weight: 400;">Todd explains what franchises and businesses he currently has</span></p> <p><strong>Why Todd is expanding business during a pandemic (2:45)</strong></p> <p><span style="font-weight: 400;">Todd is about to open seven more SportsClips franchises. He tells Erik why he’s expanding during the middle of the coronavirus pandemic.</span></p> <p><strong>Legacy franchising (6:43)</strong></p> <p><span style="font-weight: 400;">Erik has noticed a lot of people want to start a franchise for legacy purposes, to pass down to their children. Todd talks about his son’s journey through the family businesses to the point where he started his own business.</span></p> <p><strong>Business expansion in a pandemic (13:55)</strong></p> <p><span style="font-weight: 400;">Todd explains the reasoning for his desire to expand during the pandemic, including what the potential long-term growth process is.</span></p> <p><strong>Buying a Massage Envy right now (15:00)</strong></p> <p><span style="font-weight: 400;">Erik asks Todd how easy it is to buy a Massage Envy franchise during the pandemic. They talk about the risks and difficulties