Last week, I talked to a franchise owner who made a classic wealth-killer mistake.
His business was crushing it.
$300k+ profit built from zero over the last 2.5 years
Then he tells me he just bought into a completely different brand.
“Now I can cross-sell to my existing customers!”
Here’s the thing about diversification:
Wealth is created through concentration. It’s maintained through diversification.
Most people don’t buy a franchise to maintain wealth.
You bought it to build wealth.
“But new opportunities are exciting!”
There’s a dopamine hit exploring something fresh.
Just understand what you’re trading: entertainment for wealth creation.
Nothing wrong with that trade IF you’re making it consciously.
Otherwise, you’re building an expensive hobby collection, not a wealth strategy.
The “Copy & Paste Method” beats shiny object syndrome every time:
- Master one brand completely
- Build systems so it runs without you
- Copy & paste relentlessly
Each time you hit Ctrl+V, it should generate predictable, incremental cash flow.
Boring?
That’s the point.
The most successful owners aren’t trying to be Elon
They’re building seven-figure businesses that don’t drive them crazy.
So when do you diversify?
- Your business operates without daily involvement
- You have excess capital that can’t be deployed efficiently in brand #1
Until then, stay focused.
One brand + Multiple locations = Maximum wealth creation.
Cheers!
Brian
P.S. I help create 8-figure franchisees. Reply here telling me about your goals. Maybe I can help.
