📘 FREE StarterKit - Zero to Profitable Franchise in Less Than 12 Months: Start fast in the franchising world. Download Now: www.franchiseempire.com/o-ztpf-guide
I couldn’t sleep but I’ve been up all night thinking about the future so I came here. I still haven’t started high school but I want my parents to not worry about me when I’m on my own.
Wow- awesome! Good for you being young thinking about your future. Keep envisioning yourself living the life you want. There is power in thoughts. Keep watching videos like this and reading business books. Surround yourself with people that have succeeded in life and business- you will find your way.
Get yourself a degree that earns you a stable job, and start building your dream from there. I have seen younger people try different things to "get rich quick" like BITCOIN, UA-camr... But the point is, everything has risks. The more net worth you have, the less risks you have. Is it riskier to raise your net worth from $1M to $2M, or from $10K to $2M, in the same amount of years? So, get a stable 9-5 job and start from there. If you want to be an entrepreneur, best degree is Engineering, because the top 10 companies in the world are engineering related.
The fact that you are so young thinking about the future should tell you that you will be successful in life. Find a mentor that is already successful and learn things that even colleges cannot teach.
You made me learn a lot about franchise. You're explaining was beautiful and so simple to comprehend . I would like to thank you for the efforts you've made into making this informal video ❤
Hi! New subscriber! Literally just sent a franchise application and came to UA-cam to educate myself. You were the first video I watched! Thank you for valuable information
hey, did you actually end up owning a franchise? if yes, how is it going? any advice for someone like me who is looking to get into Frenchise business?
What is your favorite franchise brand?! Mine is Five Guys Burger and Fries :) Also grab my 7 Step Blueprint to Business Profits in 60 days for FREE! www.tariqjohnson.com/
Mine too, every thing you mentioned it’s so important, I’m looking to buy some property to but I like to because I really want to do what your doing because it’s a great investment, thank you
sometimes all we need is someone explaining this things in simple clear words. now I understand how franchise works. my favourite is KFC cause its more popular in my country Nigeria and other African countries. thanks a lot.
I enjoyed your video a small businesses and I'm a franchisee owner with a commercial cleaning franchise, and my main favorite franchise brands are the Marriott, 711 and Chick-fil-A like how you explain what is a franchise and your video provide a lot of information for the people out there that don't know what franchise it is or how it works very good video keep up the good work.
Thanks for the feedback Donte. Shoot me an email , would love to hear more about how you got into franchising and how it's going for you. info@tariqjohnson.com
I just found this channel and IT. IS. AMAZING. You are soooo knowledgeable and easy to listen to and follow. I may have missed this, but do you have a video discussing or can you tell me what Franchisors are looking for (in general) when they are deciding to say yes. Like are they going to be digging into my credit history, debts, etc? Would they say no due to high student loans even with an excellent credit score? Are they looking for you to have ZERO debt? What are some reasons they may deny you?
Hey thanks Ruby! Franchisors look at many things , but meeting their liquid/ net worth requirements are typically the first. You will definitely need to fill out an application and a personal financial statement. Most franchisors will also run credit. Typically as long as you meet their net worth requirements and have the down payment for an SBA loan, you can can get approved by the franchisor.
I'm sorry I made it. I made it type. Oh, that's why it looks increasing my favorite fast food franchises. Wendy's, and I'm wanting to own 1 day. And I wonder no and kips if I to start one
My favorite franchise brand is Adam & Eve. : ) I'm watching your UA-cam channel to learn more about exploring the opportunity to potentially become a franchisee for this brand. Good stuff. Thanks!
Great video and super simple and informative. I am a teacher and have been covering this for years. Do you have any information on how population effects whether or not a franchise will be successful? For example, how large should be a town be to support a McDonald's? Thanks.
Thank you Tariq. This is a great summary of the basics of considering creating a franchise opportunity with my own business. I believe it is promising, purposeful and possible for me to do it.
Great video thanks. I’m going to read your seven steps book soon. Just found out about it. What are the limits if any that a franchise system can impose on franchisees?
Hi! My favorite franchise is McDonald. Also my father would like to start a business by launching a Burger King near Brussels with a budget under 70.000 euros. How should he approach this? And thank you for the videos, they are very usefull and put an idea how a franchise works! New subscriber here!
@@sassyd8738 my wife’s family use to own a petrol station the profit margins on selling fuel is very small it only takes one runner and you are making nothing. You really need to sell a lot in the shop for profits it’s all about the sells in drinks and snacks👍
Hi thank you I watch your video I am looking for franchise for many years how much money do you have to have to fully operated the McDonald's business ? If you don't have enough money will you be able to get a business loan to get started and also in order to get a loan how much money do you to show to the bank Thank you
Right I got you. That's going to be the hardest thing. To get a franchise to come aboard. To believe that you will be a good fit to represent their brand. I got drive to work with anyone or franchise. But how can I get them to??????
Great video! My question is, how important is Net Worth when applying for a franchise? I see a lot of franchises require a net worth of $300K+ Thanks in advance!
I’m 16 years old, and still in High school if you were in my shoes what do you wish you did differently? Any pointers you could give. I’m interested in becoming a franchisee, but don’t know where to start.
Thanks. I need to interview 50 people that are looking into buying a franchise, or just trying to figure out how to transition from employee to full time entrepreneur. I’d like to set up a brief call to interview you. If you are down, please send me an email at info@tariqjohnson.com and I’ll reply with the link to book directly on my calendar.
guess you've got the bug; judging from video; its 100s 1000s dollars; is what you need; to buy IKEA furniture; up to million; that kind of money; will be hard pressed to save up; from zero balance; it will be very long time; you will need backer; someone to finance the money; your parents; relative cousin with inheritance; and so on; reason is; if you go to mcdonald; and look; i mean really look; each tile on the floor; each light bulb on the wall; each screw holding up the machine; all that came out of 'your' pocket; so if those things has to come out of your pocket; imagin the equipments; employees are working on; all that was bought by your money; placed at where you want; how far the distance from the wall; how big the fan is; make up air volume is; where the air coming in; which side of roof; where the flue going up; all that; is your decision; more you decide; more you get hands on; less money you paying someone; you can lower the cost; you can be general contractor; and save money; you can get your own license; how to get occupation permit; zoning and planning of local county; EPA if need rise; architech for build out; engineering for weight from roof; if you need to put weight on joist; get your own lease; if you know how to read lease; and know how single punctuation can alter the contract; then you are qualifed to get your own lease; saves you 1000s dollars; on lawyers fee; bottom line is its lot simpler than it sounds on paper; as in IKEA instruction manual; is linear; but these are multi directional happening at same time in multiple fronts; so they are short fast quick; so if you ever cooked for party alone; for 300; per se; you can do this; if you never done it; you need to get experienced; how you get it is up to you; go work for caterer; restaurant; what ever it takes; to get exposure to things happening in multiple fronts; if you been employee only all your life; this will be big leap; challenging but not impossible; the difference between these kind of challenges and challenges as employee is; at end of the day; its satisfying; it was hard; but it feel good; kind challenge; business is; more your hand touches more money you save; more skill of your hand touches more money you make; more let someone else skill do; less money you make; same with employees; hire someone with pre made disposition; more money you have to pay to hire them; hire no expereince; and you train them; less money; closer to minimum wage; you can pay; so its up to you; how much you know can be exploited to pay minimum wage or pay top dollars to hire pre made employee with experience; you can rely on; for ever; or you can master the business and hire no experience; that . . is what its like to run your own business; except this is franchise;
Hey , Appreciate the info well informative. I was looking up how to own a Circle K franchise. 1,of there requirements is you need to have a network of 500,000.00 . Can you inform me more on that for me please
So my brother and I drive an hour south regularly to Weirton West Virginia to a Tudors biscuit word, we want to open one in out town. A McDonald’s store closed about 7 yrs ago and a friend of mine they purchased the building and is looking for a business to move in. We are currently working some sort of agreements to start the process of getting tudors to meet with us.
Tariq Thank you so much for your videos. My 2 favorite franchise 5 guys and panera.In your experience which one is more profitable andLess expensive to start? What was your 1st franchise? Thank you again and God-bless
Love 5 guys. I also enjoy Panera. Those are 2 franchise concepts that don't do single location deals, and you typically need millions or access to millions and sign a deal to open up multiple units. These are not accessible concepts for the average individual looking to buy a franchise. As an example- 5 guys requires prospective franchisees to have access to $5million in capital. 😳
my favorite franchise brand is Red Robin...not sure how much more these are compared to fast food, but I'm interested in learn more about this. Do you have any videos on Restaurant franchises like Red Robin / Olive Garden / BJ's? ..thanks
So would I, as the franchisor, get access to franchisee's information like payroll and customer reviews and whatnot? I would want to be sure all my franchisees are maintaining our standards.
Hey Tariq, I have one question for owing a franchise by myself. If I want to buy a existing franchise which has been placed already and we want to take a ownership of that franchise company how does that works? For example we have Dominos franchise which is running from last 15 years and now they want to sell the stores and I want to buy that store. What are the key factors which I have to remember and how does the money structure works?
Good question. Not a simple answer, certainly not in YT comments. Here are some resources #1 Video on resale franchises ua-cam.com/video/A-cF9avwG7I/v-deo.html #2 www.tariqjohnson.com/post/franchise-overall-steps-when-looking-at-re-sales
📘 FREE StarterKit - Zero to Profitable Franchise in Less Than 12 Months: Start fast in the franchising world.
Download Now: www.franchiseempire.com/o-ztpf-guide
I couldn’t sleep but I’ve been up all night thinking about the future so I came here. I still haven’t started high school but I want my parents to not worry about me when I’m on my own.
Wow- awesome! Good for you being young thinking about your future. Keep envisioning yourself living the life you want. There is power in thoughts. Keep watching videos like this and reading business books. Surround yourself with people that have succeeded in life and business- you will find your way.
Get yourself a degree that earns you a stable job, and start building your dream from there. I have seen younger people try different things to "get rich quick" like BITCOIN, UA-camr... But the point is, everything has risks. The more net worth you have, the less risks you have. Is it riskier to raise your net worth from $1M to $2M, or from $10K to $2M, in the same amount of years?
So, get a stable 9-5 job and start from there. If you want to be an entrepreneur, best degree is Engineering, because the top 10 companies in the world are engineering related.
The fact that you are so young thinking about the future should tell you that you will be successful in life. Find a mentor that is already successful and learn things that even colleges cannot teach.
I Love It My Advice Is Stay In The Library I Read Up On Passive And Residual Income All The Answers To Success Are In The Library
Fuck What That Other Guy Saying A Trade Is Better Than A Degree Open A Credit Union The Better Than Banks And Boost Credit Score
You made me learn a lot about franchise. You're explaining was beautiful and so simple to comprehend . I would like to thank you for the efforts you've made into making this informal video ❤
Watching this 2 years later. Great video! Your hands are huge
Hey, thanks!
Well, you explained franchise better than my textbook - so I guess that's a win. Thanks a lot :) !
Lol! Hopefully it helped you ace the test 😉
Facts
Fact
I am just 17Y old and I thought about franchises and I love business & investing , hope in future I can make my dreams come true .
I’m rooting for you!
You made me feel at ease about owning a franchise. Thank you for sharing your time and information
Watched this in 2024. Very informative. Thank you.
Hi! New subscriber! Literally just sent a franchise application and came to UA-cam to educate myself. You were the first video I watched! Thank you for valuable information
Welcome Julie! Glad you enjoyed it. Make sure to check out the LIVE masterclass I’m doing tomorrow.
You sent the application before some type of due diligence? Just curious how that turned out.
hey, did you actually end up owning a franchise? if yes, how is it going? any advice for someone like me who is looking to get into Frenchise business?
I love the simplicity of explaining this to me. Better than all the readings and other videos thus far. Many thanks @TariqJohnson
Score! My pleasure
What is your favorite franchise brand?! Mine is Five Guys Burger and Fries :)
Also grab my 7 Step Blueprint to Business Profits in 60 days for FREE!
www.tariqjohnson.com/
What about 7 eleven franchise? Is that good to open?
Tariq did you have to get trained by McDonald's to also open up your franchise?
Tropical Smoothie Cafe.
Mine too, every thing you mentioned it’s so important, I’m looking to buy some property to but I like to because I really want to do what your doing because it’s a great investment, thank you
MacDonald’s for sure
Great video, very informative, detailed and elaborated. Thanks a lot mate!
sometimes all we need is someone explaining this things in simple clear words. now I understand how franchise works. my favourite is KFC cause its more popular in my country Nigeria and other African countries. thanks a lot.
Happy to help! Thanks for watching
Perfectly explained and simplified this is so clear to understand you have really pumped knowledge to my head thanks.
8:53
Thanks for all the info you're providing in regards to franchises. New subscriber here!
Thanks and welcome!
Tariq is hosting a FREE online event, go register at dreamlifemastery.com/
I enjoyed your video a small businesses and I'm a franchisee owner with a commercial cleaning franchise, and my main favorite franchise brands are the Marriott, 711 and Chick-fil-A like how you explain what is a franchise and your video provide a lot of information for the people out there that don't know what franchise it is or how it works very good video keep up the good work.
Thanks for the feedback Donte. Shoot me an email , would love to hear more about how you got into franchising and how it's going for you. info@tariqjohnson.com
You explained the concept very well. Thanks
You’re welcome!
Great video. Thanks Tariq!
We hope if u make some videos about franchising models and how to franchise your business!
Thank you for the information, just found your page and I like the real life perspective you give 💯 I greatly appreciate it
My pleasure Corey.
Put the Playback speed at 1.25.thank me later 😊
Totally agree! I was talking pretty damn slow.
Thanks bro
Great content! Thank you for simplifying this international market entry strategy for me.
Ok you video was very informative and I didn't get to watch all of it but I'll be bk to watch it all
Glad you like it.
I just found this channel and IT. IS. AMAZING. You are soooo knowledgeable and easy to listen to and follow. I may have missed this, but do you have a video discussing or can you tell me what Franchisors are looking for (in general) when they are deciding to say yes. Like are they going to be digging into my credit history, debts, etc? Would they say no due to high student loans even with an excellent credit score? Are they looking for you to have ZERO debt? What are some reasons they may deny you?
Hey thanks Ruby!
Franchisors look at many things , but meeting their liquid/ net worth requirements are typically the first.
You will definitely need to fill out an application and a personal financial statement. Most franchisors will also run credit.
Typically as long as you meet their net worth requirements and have the down payment for an SBA loan, you can can get approved by the franchisor.
Hi Tariq great job this is brilliant explanatory video on franchising
Thanks Rod!
I'm sorry I made it. I made it type. Oh, that's why it looks increasing my favorite fast food franchises. Wendy's, and I'm wanting to own 1 day. And I wonder no and kips if I to start one
I responded to your other comment.
Tariq u r so good! U explain so well, so simply. I feel so motivated. From South Africa
Thank you!
Hi Tariq, thanks for your profound explaination. Grateful.
With love Jonas from Zambia
My pleasure!
I loved this information
Thank you
My pleasure
Hello Tariq, good job. Thank you for sharing your insights.
My pleasure
Thanks for taking ur time to explain this.... U have made it very easy to understand 💯
My pleasure.
@Tariq, good and informative video! I am just getting into this world and these basics really helped!
Glad you like it! I have LOTS of videos on franchising...and doing a free training on UA-cam live, make sure you have your notifications on!
😊
Very informative. Thanks for posting.
Glad it was helpful!
Excellet Tariq! I like the way you have said it all! Good!
Thanks!
Thanks bigtime Tariq. This video was valuable
My pleasure, glad it helped!
This explained Franchises very well to me, thank you for the education and the simple explnations that you provided here in this video.
You're very welcome! Glad you found it helpful.
Amazing content thank you
My favorite franchise brand is Adam & Eve. : ) I'm watching your UA-cam channel to learn more about exploring the opportunity to potentially become a franchisee for this brand. Good stuff. Thanks!
Great video and super simple and informative. I am a teacher and have been covering this for years. Do you have any information on how population effects whether or not a franchise will be successful? For example, how large should be a town be to support a McDonald's? Thanks.
Not a specific on that topic. But I talk about market demand here ua-cam.com/users/livezGsz9xzyH50?si=GVFax2oIg275M09k
Thank you Tariq. This is a great summary of the basics of considering creating a franchise opportunity with my own business. I believe it is promising, purposeful and possible for me to do it.
Sweet! Check this podcast episode out on franchising your biz. ua-cam.com/video/fj_IKImJMKg/v-deo.html
Wow! you explained very well and understandable way. Thank you very much.
My pleasure.
Beautifully explained! Keep it up!
Thank you!! 😀
Tysm you explained it in such a simple way
Thanks
Wonderful Intellect! Very Impressed!
Well, thank you!
Amazing video
Thanks!
@@TariqJohnson 🐐
A lot of people doubt me and what I want to do but it is possible. Working from food truck is good just not my route.
I loved this content ❤ thanks a lot😊
Glad you enjoyed it!
Thanks for explaining, What do you suggest is a good franchise to open now and how much should one start with?
All depends on you, your goals, your background etc. There is no one size fits all.
just supporting the channel
Appreciate that man.
Very informative and informative 🤫🤔💯
Glad you think so!
I've def been thinking about this w an old abandoned Dairy Barn by my house. My neighborhood could use something there. I'm in NY. Thanks for info.
Awesome, go for it!
Thanks for guide and mind opener about franchise
My pleasure
amzing vry good.the way presented the info.
I love Wiener schnitzel. I'm from San Diego and recently moved to MO. The type of food here is really basic. I would think this chain would do well.
Sweet, are you going to open one?
Great video thanks. I’m going to read your seven steps book soon. Just found out about it. What are the limits if any that a franchise system can impose on franchisees?
Hope you enjoyed the blueprint. There are many limits- all would be listed in the FDD.
@@TariqJohnson What is the FDD?
Thank you. I hope to pass my APC board course with this information 🙏.
What?! Awesome!
excellent content! thank you
You're very welcome!
Thank You!
You're welcome!
I love all this info brother..
Awesome! Thanks for watching.
You explained it so easily. 😎
Thank you
Does the Franchisor ever pay those startup fees?
My pleasure. In 99% of instances they do not pay the start up costs.
What's your website?
Thanks million bro
You're welcome!
crumbl is one I would love to buy
They are sold out throughout the entire country.
Great information
Glad it was helpful!
Thank you!
you're welcome!
Hi! My favorite franchise is McDonald.
Also my father would like to start a business by launching a Burger King near Brussels with a budget under 70.000 euros. How should he approach this? And thank you for the videos, they are very usefull and put an idea how a franchise works! New subscriber here!
Has he reached out to burger king? They may have higher financial requirements.
@@TariqJohnson I was thinking the same with that amount he can buy shares in macdonalds
@@sko1beer id rather do a gas station mcdonalds too much for me n they ways and burger king too ]
@@sassyd8738 my wife’s family use to own a petrol station the profit margins on selling fuel is very small it only takes one runner and you are making nothing.
You really need to sell a lot in the shop for profits it’s all about the sells in drinks and snacks👍
How do you go about deciding which franchise to choose? I’m pretty sure city/location plays a part in what Franchise to start..
I just made a video on that! ua-cam.com/users/liveqwkw8h3iMyk
Hi thank you I watch your video I am looking for franchise for many years how much money do you have to have to fully operated the McDonald's business ? If you don't have enough money will you be able to get a business loan to get started and also in order to get a loan how much money do you to show to the bank
Thank you
I’m trying to learn about owning a restaurant because I have a brilliant idea for a restaurant and need help getting it started.
Restaurant business is a tough business.
Great video.
I am interested in opening an American Eagle franchise, do you have any information in regard to the clothing industry. Thank you
Thank you
You’re welcome
Hi, how do I franchise my small independent funeral home in UK ?
Thank you
Didn't know Marriot was a franchise . Ty for the video lesson.
How to create my own franchise? Already I have one single branch running 😀
Would love to see the formal way to ask a company in a letter to become a franchise
What?
Right I got you. That's going to be the hardest thing. To get a franchise to come aboard. To believe that you will be a good fit to represent their brand. I got drive to work with anyone or franchise. But how can I get them to??????
Great video! My question is, how important is Net Worth when applying for a franchise? I see a lot of franchises require a net worth of $300K+ Thanks in advance!
Cinnabon had a min requirement of 500K net worth
It’s definitely important. Some are more strict about it than others.
I know this is 2 years ago... But this helps a lot because my husband and I want to open a mcdonalds and other franchise
Glad it helped. McDonald’s will be a tough one.
thanks man understand a lot
Happy to help
Gotta say I love 5 guys as well
🔥
Great Video
Thanks!
im running Business in Dar es Salaam,Tanzania🇹🇿 i Build Brand for almost 6 yrs Thank You for education im about to go to franchise 🔥🔥
Great! Congrats!
Would you be able to do a. Idea on how to start franchising your company for business owners?
That's a great idea- yes I will.
I’m 16 years old, and still in High school if you were in my shoes what do you wish you did differently? Any pointers you could give. I’m interested in becoming a franchisee, but don’t know where to start.
Good explanation
Thanks
What is impressive when applying for a franchise? What is the most effective way to reach out to franchises? Also a new subscriber!
They have a contact us form on their website. As long as you meet their net worth requirements, they’ll want to talk to you.
sir your video is so educative.my husband and I wish to set up a franchise restaurant.I need your guide on this.Thank you sir.
Thanks.
I need to interview 50 people that are looking into buying a franchise, or just trying to figure out how to transition from employee to full time entrepreneur.
I’d like to set up a brief call to interview you.
If you are down, please send me an email at info@tariqjohnson.com and I’ll reply with the link to book directly on my calendar.
I have a business, looking at getting into franchising it. Doing research for now
This video will help ua-cam.com/video/fj_IKImJMKg/v-deo.html
Hi, new subscriber here. Could you tell me how you earn/save the initial funds to start a franchise? Thank you!
It just depends on your situation. Watch this video I made on starting with no money.
ua-cam.com/video/V_qdqv180T4/v-deo.html
Tariq is hosting a FREE online event, go register at dreamlifemastery.com/
McDonald’s is king. I personally prefer the Waba menu.
guess you've got the bug;
judging from video; its 100s 1000s dollars; is what you need; to buy IKEA furniture; up to million;
that kind of money; will be hard pressed to save up; from zero balance; it will be very long time;
you will need backer; someone to finance the money; your parents; relative cousin with inheritance; and so on;
reason is; if you go to mcdonald; and look; i mean really look; each tile on the floor; each light bulb on the wall; each screw holding up the machine; all that came out of 'your' pocket;
so if those things has to come out of your pocket; imagin the equipments; employees are working on; all that was bought by your money; placed at where you want; how far the distance from the wall; how big the fan is; make up air volume is; where the air coming in; which side of roof; where the flue going up; all that; is your decision;
more you decide; more you get hands on; less money you paying someone; you can lower the cost;
you can be general contractor; and save money; you can get your own license; how to get occupation permit; zoning and planning of local county; EPA if need rise; architech for build out; engineering for weight from roof; if you need to put weight on joist; get your own lease; if you know how to read lease; and know how single punctuation can alter the contract; then you are qualifed to get your own lease; saves you 1000s dollars; on lawyers fee;
bottom line is its lot simpler than it sounds on paper; as in IKEA instruction manual; is linear; but these are multi directional happening at same time in multiple fronts; so they are short fast quick;
so if you ever cooked for party alone; for 300; per se; you can do this; if you never done it; you need to get experienced; how you get it is up to you; go work for caterer; restaurant; what ever it takes; to get exposure to things happening in multiple fronts;
if you been employee only all your life; this will be big leap; challenging but not impossible;
the difference between these kind of challenges and challenges as employee is;
at end of the day; its satisfying; it was hard; but it feel good; kind challenge;
business is; more your hand touches more money you save; more skill of your hand touches more money you make; more let someone else skill do; less money you make;
same with employees; hire someone with pre made disposition; more money you have to pay to hire them;
hire no expereince; and you train them; less money; closer to minimum wage; you can pay;
so its up to you; how much you know can be exploited to pay minimum wage or pay top dollars to hire pre made employee with experience; you can rely on; for ever; or you can master the business and hire no experience;
that . . is what its like to run your own business; except this is franchise;
Hey , Appreciate the info well informative. I was looking up how to own a Circle K franchise. 1,of there requirements is you need to have a network of 500,000.00 . Can you inform me more on that for me please
😅😊 you really saved me wow! You explain better than my teacher does
Boom!
Good thanks
You're welcome!
So my brother and I drive an hour south regularly to Weirton West Virginia to a Tudors biscuit word, we want to open one in out town. A McDonald’s store closed about 7 yrs ago and a friend of mine they purchased the building and is looking for a business to move in. We are currently working some sort of agreements to start the process of getting tudors to meet with us.
informative content
Thank you.
Tariq Thank you so much for your videos. My 2 favorite franchise 5 guys and panera.In your experience which one is more profitable andLess expensive to start? What was your 1st franchise?
Thank you again and God-bless
Love 5 guys. I also enjoy Panera.
Those are 2 franchise concepts that don't do single location deals, and you typically need millions or access to millions and sign a deal to open up multiple units. These are not accessible concepts for the average individual looking to buy a franchise.
As an example- 5 guys requires prospective franchisees to have access to $5million in capital. 😳
What do franchisees do on a day to day bases? What are they doing daily to run their franchise?
Depends on the franchisee, how mature their franchise is, what industry they are in, etc.
my favorite franchise brand is Red Robin...not sure how much more these are compared to fast food, but I'm interested in learn more about this. Do you have any videos on Restaurant franchises like Red Robin / Olive Garden / BJ's? ..thanks
Red Robin is likely very, very expensive to own. Overall I'm not a fan of food franchises- so no videos on them. Olive Garden is corporate.
do I need to pay for the land and the store if I'm a franchisee
So would I, as the franchisor, get access to franchisee's information like payroll and customer reviews and whatnot? I would want to be sure all my franchisees are maintaining our standards.
If that’s how you set it up.
Hey Tariq, I have one question for owing a franchise by myself. If I want to buy a existing franchise which has been placed already and we want to take a ownership of that franchise company how does that works? For example we have Dominos franchise which is running from last 15 years and now they want to sell the stores and I want to buy that store. What are the key factors which I have to remember and how does the money structure works?
Good question. Not a simple answer, certainly not in YT comments.
Here are some resources
#1 Video on resale franchises ua-cam.com/video/A-cF9avwG7I/v-deo.html
#2 www.tariqjohnson.com/post/franchise-overall-steps-when-looking-at-re-sales
Can you use a sba loan to start a franchise or you you need personal money ?
Good video.
Thanks!
My favorite franchise is Chick-fil-A and Mcdonalds and after college I want to own a Mcdonalds in New York City!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Some big names there!
constructive in eating
eh?