📘 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’m in a position that, I’m well rounded in different aspects of life, and just working towards the dreams of someone else just isn’t an option any longer

@TariqJohnson

3 жыл бұрын

Boom. I think a lot of us can relate to that Freddy. Go get em!

@treeez_____5317

Жыл бұрын

Patient persistence commitment

@mohammadarifulislam5974

Жыл бұрын

Is 4% profit margin is enough for franchise business? Franchise fee 7.5% on turnover and average monthly sell 96000 euro per month , it’s a burger restaurant and reputation is healthy.

Great summary Tariq. The 'why' part is so often overlooked, but so important.

@TariqJohnson

2 жыл бұрын

So true! It’s the fuel that powers your “vehicle” that gets you to your destination!

Thank you for making these videos. 🙏🏻

@TariqJohnson

2 жыл бұрын

My pleasure!

Great video. Thanks Tariq

@TariqJohnson

2 жыл бұрын

My pleasure RC!

Tariq, great video! I liked how you started with the "WHY." I think a lot of people get caught up on the hype of wanting to own a business without really knowing WHY they're doing it.

@TariqJohnson

2 жыл бұрын

Thanks Leo! Start with why!

Thanks so much for the insight Tariq, I will be reaching out after going through the links you added. Thanks for sharing again

@TariqJohnson

2 жыл бұрын

My pleasure.

this was extremely an extremely insightful video, thanks for the knowledge!!

@TariqJohnson

3 жыл бұрын

My pleasure! Glad you enjoyed it. Make sure to grab my 7 step blueprint from my website if you haven’t already.

Thanks allot bro you're the BEST ! and you have a special gift when it comes to choosing the right words to get your point across FANTASTIC !👍

@TariqJohnson

3 жыл бұрын

Wow Charles, thanks so much for such genuine and kind feedback!

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

Great info on starting franchises. The exit strategy was one of our last items we discussed.

@TariqJohnson

2 жыл бұрын

Thanks! Exit strategy is key.

Very informative. Thank you.

@TariqJohnson

2 жыл бұрын

My pleasure Brad.

I just watched your other video, and now this one. It answered so many questions but now I have a lot to think about!

@TariqJohnson

4 жыл бұрын

Glad it helped! Think and then DO!

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

Glad you are sharing all of this information. I hope you share how you made our first franchise profitable in the first few months. Some people want to be entrepreneurs and own franchises and think because they are in a system they will make money but that is not always the case. Thanks for sharing!

@TariqJohnson

4 жыл бұрын

I will definitely be sharing that! That's very true, just because you buy a system doesn't mean it'll be successful.

@TariqJohnson

3 жыл бұрын

The first one was about $300k to open brand new

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

@adimd8357

Жыл бұрын

@@TariqJohnson how’d you get the 300k ima 9-5 guy for big pharma studdy stock options to get my 300k not sure on the path to take but feel as I best just grind this

@trogdortheburninator3621

2 ай бұрын

Just don't power trip and expect from your underlings unrealistic goals. I was a manager bullied by my franchise owner expecting me to clean, prep, and ready morning shift by 12 am. The drive through stayed open until 11:00: am. I worked by ten pm solo. I've had to test the alarm so many times 4:27

Thank you so much! Wonderful video.

@TariqJohnson

Жыл бұрын

You're very welcome!

Great Video!

@TariqJohnson

2 жыл бұрын

Thanks!

Thank you 👊🏽

@TariqJohnson

Жыл бұрын

My pleasure

Great video. Thank you

@TariqJohnson

2 жыл бұрын

You are welcome!

Thank you for this video..

@TariqJohnson

3 жыл бұрын

My pleasure! I have a really awesome free virtual event coming up. Make sure you register! dreamlifemastery.com/

Thank you for this information

@TariqJohnson

3 жыл бұрын

My pleasure! What are topics are you interested in learning about? Any specific franchise questions?

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

Thank you so much for this information

@TariqJohnson

3 жыл бұрын

My pleasure!

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

This is absolutely nice

@TariqJohnson

Жыл бұрын

Thanks

Awesome video 🔥

@TariqJohnson

7 ай бұрын

Thanks 🔥

This was very helpful information thank you

@TariqJohnson

Ай бұрын

You’re welcome

Very informative video, thanks

@TariqJohnson

3 жыл бұрын

Glad it was helpful!

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

Thanks for the info sir.. 😊👍 💯

@TariqJohnson

3 жыл бұрын

My pleasure!

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

This Guy is a Champion!

@TariqJohnson

2 жыл бұрын

Thanks so much man! Looks like you're on a roll watching all the videos. Great work!

After vetting many franchise opportunities and doing a massive amount of research, I am starting a franchise. With that said, Tariq is spot on. Listen to this advice

@TariqJohnson

Жыл бұрын

Appreciate that vote of confidence Nathaniel 👍🏾

@ibby7112

10 ай бұрын

How it going

This is the 3rd sign I have had in 24 hrs about something I have wanted to do for years! I am an entrepreneur, author, speaker, actress, etc but I have a masters in Organizational management. I have had jobs that know my value, hired me for it and then resent me for it also. I do NOT want to work for anyone else and I had to be honest about that. I want something for my daughters, I want freedom, I want a business that is already established ( I am not trying to make changes). I need financial freedom and no stress.

@TYPthePYT

3 жыл бұрын

Also I just requested your book and I am reading reading READING! I'm creating a binder with all the information and tips and I already have a location in mind

@TariqJohnson

3 жыл бұрын

Hi Ty, that is awesome! I believe in you! I sent you an email FYI.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

I am thinking of owning a franchise. It has always been my dream to own my own business and so i thought franchising would be a great step rather than starting up a small business first.

@TariqJohnson

2 жыл бұрын

Franchising is definitely a great way to attain your goal of business ownership through a proven system first! Then you can take what you learn and start your own thing!

Really enjoyed your video

@TariqJohnson

2 жыл бұрын

Glad you enjoyed it!

@TariqJohnson

2 жыл бұрын

Quick favor to ask- 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 a yes, please send me an email at info@tariqjohnson.com and I’ll reply with the link to book directly on my calendar.

I recently found an interest in possibly owning a franchise. I just turned 30 and I have had 2 jobs over the last 14 years (Pizza Hut and AT&T) in both companies I started from the frontlines and worked my way into leadership roles. I am now an area retail sales manager of and have gained experience in so much aspects of running a business from sales, marketing, coaching, leading people, operations, hiring/firing etc. I feel that my work ethic, leadership, integrity and passion for learning has helped me tremendously throughout my career. I’m currently in the process of finding ways to gain funding to start a franchise, that I feel is the biggest barrier right now. Once I figure that out I am confident I can grow my selected business.

@TariqJohnson

7 ай бұрын

Awesome, you sound like you would make a great owner. I'm rooting for you!

Hi Tariq Great content always. Would you like to do video on how to find location for FAST FOOD QSR? Thanks

Still halfway through, but thanks for sharing.

Top notch

Good morning Mr Johnson I is subscribed and a close friend of mine owns a couple of franchises. I’ve never owned a business or anything of that nature but I’m very interested in creating wealth that can be passed down through generations. I understand there’s risk and honestly even some fear of it because I’m new just trying to learn things but I want more! I’m doing very well in the industry I’m in as far as income but like I said I want residual income if possible.

@TariqJohnson

7 ай бұрын

Thanks for sharing! If you want to find out more about franchising, you can grab my free ebook -> www.buyaprofitablefranchise.com/o-optin

I’m 20 and want to never have to go back to a day job while I get my digital media degree and real estate invest on repeat 🙏🏽 all of this to support my financial freedom dreams and a family I plan to have in the future in 10 years

@TariqJohnson

3 жыл бұрын

Awesome vision, and kudos for thinking about this at 20 years old!! Let's go!

I am thinking about a new type of restaurants : eating-spots, in eating-spots, food keeps changing, chefs also rotate, this is opposed to current restaurants, thanks to this rotation of food and chefs, eating-spots are more powerful than restaurants along with that, there is an app, people vote for the food that will be cooked in the next days menu is influenced by the live input of the people via an app

@TariqJohnson

3 жыл бұрын

Nice!

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

@patrickfiddler5734

5 ай бұрын

Stay away from current restaurants and franchise they are nothing but a bunch of scammers. I wish you well with your new company bit stay away from these crooks and preditor who are in the business of ripping you off. Do your own thing. Best wishes.

I would like to become a pack and ship franchisee, I have never done this before. I am doing my research and I am also reaching out to other franchisees in the area not directly but maybe the next town over maybe I can network with them to understand what I am looking to get into. I 9bviously cannot quit my day job right now but I am willing to put in the time.

Thanks for this. I was recently laid off and I’m exploring buying a business or franchise rather than taking another job in a cubicle. A couple hurdles I’m having are: finding businesses that allow at least partial absentee ownership and actual profitability numbers. I don’t necessarily want to “buy a job” as they say.

@TariqJohnson

3 жыл бұрын

Hi Chris. Being laid off could be the biggest blessing that's ever happened to you. I'm sure it's not an easy position to be in, so my heart is with you. There are a number of franchises that allow absentee ownership, it's just a matter of finding them. Another tactic is to buy a franchise that requires an active owner, work the business full time for a year...learn it inside and out. Once you do then you can hire a manager and go back to work. You can then earn income off the franchise while earning a full time income in a job with benefits.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

@shaelove473

Жыл бұрын

Wow thanks for giving us this valuable information tariq

@virajganglani6619

Жыл бұрын

@chillintm I was recently laid off and in the exact same spot you were in 3 years ago. It would be so helpful if you could share what you ended up learning and doing.

@Pepi86753

8 ай бұрын

@@virajganglani6619in the same boat and would also love an update.

I'm just a pre-teen who doesn't even have a job yet but still thanks for the advice.

Looking to buy my first franchise at 19

@TariqJohnson

7 ай бұрын

You got this!

I dabbled in leadership by helping a team make a video game and ended up loving the freedom it brought me. I have ADHD and I direly want to set my own hours and not be in constant fear of being fired or having bosses overwork me and wrecking my mental health. Owning a franchise is an option I didn't know existed until recently and it seems to be a great fit, as I'm highly creative but nervous about starting something entirely on my own without any guidance. The issue is that I struggle with organization and prioritizing tasks properly. Are there franchises that can help me figure out a plan and/or organizational system to follow so I'm not stuck working all the details out all by myself? I'm also kind of a terrible salesperson because it feels manipulative and makes me uncomfortable, so would that be an issue?

@TariqJohnson

2 жыл бұрын

Hi Lily, thanks for sharing your story. The short answer is yes. You would be an ideal candidate for a franchise. They provide structure, and systems. You still have to be disciplined enough to execute on those systems. You can hire sales people, and your role depends on the franchise. I believe 100% there is a franchise out there that would be perfect for you. I have a free franchise masterclass that you may find helpful. buyaprofitablefranchise.com/

I’m looking to start a franchise business to yes eventually leave my full time job. I have to cash flow rite now n I 2 years away from semi retirement. I’m ready to do my own Family business.

@TariqJohnson

2 жыл бұрын

Awesome! Quick favor to ask- 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’m so happy I found this video. I’m currently 18 in my senior year of highschool and want to become a financial advisor hopefully leading up to owning a franchise. Do you have any tips?

@TariqJohnson

3 жыл бұрын

Very Cool Eli! I've been investment licensed for 13 years now- I was a Financial Advisor for many years. Get your intro series exam passed so that you can get into a firm. Serve your clients at the highest level and save and invest as much money as you possibly can, keep your expenses low, and do NOT fall into traps of buying fancy things to impress others. Franchises typically require liquid assets, and net worth requirements. The more money you make, and then save and invest...the sooner you'll have the assets to buy a franchise. Best of luck to you!

@eliboatman

3 жыл бұрын

Tariq Johnson thank you that helps more than you could even imagine

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

super helpful video and the printer making random noises was hilarious lol.

@TariqJohnson

10 ай бұрын

Out of over 100,000 views , and 3 years later- you are the only person to mention the printer! Lol I thought it was hilarious too. 👊🏽😆

@slvshy666

10 ай бұрын

@@TariqJohnson yeah I have a printer that also seemingly has its only life and hobbies that it randomly wakes up and makes a racket about so I know that reaction first hand 🤣

Hi thanks for the video! What are your thoughts on a start up company with 2 stores that have started franchising ?

@TariqJohnson

3 жыл бұрын

Depends on the industry, financial history, brand, and how long those 2 stores have been in business. There will certainly be more risk with an un-established brand. It could also be a ground floor opportunity. You would need to do thorough due diligence before committing!

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

can could you make a video on what are the pros and cons in being a financial advisor ?

@TariqJohnson

3 жыл бұрын

Nah, I'm sticking to franchises and owning a business. Probably a lot of content out there on that if you google it.

Hi Tariq, I’m really enjoying your videos! I see that you have recommended using a franchise consultant. Do you recommend working with multiple consultants to access a larger inventory of franchises? I really like my consultant but I’m worried I am missing out on franchises that might be a stronger fit.

@TariqJohnson

10 ай бұрын

Eh, depends. Unfortunately, not all consultants are created equal. Glad you are enjoying the content!

1.How do you know if an existing franchise is selling? --- 2. Would this be something good to do with inherited money?

@TariqJohnson

4 жыл бұрын

You can find businesses for sale at a website like bizbuysell, if it's not listed there you would often need to find out through word of mouth. Inherited money is certainly an option, just make sure you aren't taking a unnecessary risk and being reckless because it wasn't money that you had before.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

My goal is to open a franchise outside the U.S.. I really want to do TopGolf in Erbil, Iraq(Kurdistan region), but I know they don't franchise. I also want to do a fast food franchise there as well. During my travels, I noticed the fast food franchise outside the U.S. are way more successful.

@TariqJohnson

3 жыл бұрын

Interesting observation Phillip. Likely 0% chance of Topgolf. They are corporate owned, and probably about $10-$15million to open. Food franchise outside the US - Could be a home run! What kind?

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

Great video! Thank you so much for all this information. What are your thoughts on cinnaholic?

@TariqJohnson

3 жыл бұрын

Thank you- First I've heard of that brand.

I have a few questions tbh 1 what degrees help the most 2 do you manage the business 3 do you own a certain store or restaurant of the entire business when doing this and how much control over the location would i have?

Very informative, I’m going to college this year for a double concentration in finance and analytics and aiming for an MBA of course, any tips

@TariqJohnson

2 жыл бұрын

Tips for what specifically? School, business, franchises, money?

@dedrickriley1188

2 жыл бұрын

@@TariqJohnson tips on franchises or what would be a more efficient way of allocating funds into the right places to grow

Thanks Tariq for this video its very informative for beginners like me 💯 My question is : what do you think about obtaining a government backed loan ( in Canada) to finance the franchise cost and fees ! I feel like I know the answer but taking my chances!!! I really want to start my own franchise business and I know I will be successful. Thanks for all your help, Sarah

@TariqJohnson

3 жыл бұрын

Hey Sara- glad to know you found the video helpful! If you can secure a loan then go for it! As long as you aware of the risks you are taking and the consequences...I'm generally an advocate of people betting on themselves to create their business and financial future. Hit me up at info@tariqjohnson.com and I can help you.

@manititili1995

3 жыл бұрын

@@TariqJohnson Will definitely do txs 🙏🏽

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

i have faith you’ll help me become a millionaire 🤝 i’m subbed in

@TariqJohnson

2 жыл бұрын

Woohoo! Cheers to that.

Question Hi Tariq, great video! Could you tell me more about your experience in Franchisees losing money after acquiring a franchise, taking in the profits, then in 5 years say: selling said franchise. Thank you Appreciate it

As someone who has no saving, TERRIBLE credit, no idea of the complexity franchise. But someone with an aspiration. A goal. How does one start?

@sdizzzzzy3509

2 ай бұрын

Net worth is 100$ lol the company I seek to franchise has a “initial” start cost of 170k but it depends on many factors so it can go upwards to 250k-300

Love the content! I am looking to franchise a business, and I am communicating with the company now. There isn’t another store in my area, so I am having difficulty trying to figure out a conservative number on what the franchise would make per month. How do you recommend coming up with that figure - or getting as close as possible, conservatively?

@TariqJohnson

2 жыл бұрын

Have you spoken to other franchisees that aren’t in your area? Also have you completed a pro-forma? The conjunction of those two things and local competitive analysis would get you close to an estimate.

@grahamboykin1537

2 жыл бұрын

thank you for your reply! No sir, I have not completed a pro-forma. I will be speaking with another franchise owner next week, so I am hoping to get some good intel there. @@TariqJohnson

@TariqJohnson

2 жыл бұрын

You definitely need to do a pro-forma. It's a key part. Quick favor to ask- 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 a yes, please send me an email at info@tariqjohnson.com and I’ll reply with the link to book directly on my calendar.

@lizb8850

2 жыл бұрын

@@TariqJohnson are you still looking for 50 people to interview?

after so many year having different job and business I START LOOKING INTO IT , it was good that Leo send you massage

@TariqJohnson

10 ай бұрын

?

Great content. Any potential franchise owner needs this information. What is your thoughts on Fitness Franchises like Anytime Fitness?

@TariqJohnson

4 жыл бұрын

Anytime Fitness is a solid Franchise. The fitness franchise world has A LOT of competition, and a lot of the success will depend on if the owner would be active in the business, or relying on a manager to run it for them. The quicker you can get to break even and then profit with memberships then the more you've got a chance to succeed and thrive. Fitness franchises like most opportunities require a lot of front end work in acquiring members. Hope that helps!

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

Me and my Husband are in a good position and are looking into possibly buying a Franchise. Wanting to work for ourselves and build something for our kids to give them a steady life. I am seeing that there is so many different money factors involved. When buying a franchise we are responsible for paying for all construction and equipment and everything thing else?

@TariqJohnson

3 жыл бұрын

Hi there- that is correct. You are generally responsible for all of the build out. Email me at info@tariqjohnson if you have more questions.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

Great content Tariq! Would you advise against becoming a distributor for a franchise ? And if so, is it customary to pay a franchise fee to be a franchise’s distributor only? Appreciate any guidance Thank you Dave

@TariqJohnson

2 жыл бұрын

Interesting question. What do you mean by distributor?

@dric30

2 жыл бұрын

@@TariqJohnson to distribute a manufacturer products

I want to make enough passive income and get x2 value return within a year from investing into a franchise. I was originally thinking of investing into real estate but if I can invest into a franchise and it can help build me more wealth without having involve myself that much into it . Then I’m all for it because I’d like to work in my career while owning it.

@TariqJohnson

10 ай бұрын

The first year will require a large investment of time no matter what. As you grow, if you do it the right way, and properly train and manage a manager. You *could* be less hands on.

14:23 Can you please give a few examples of what not following the system looks like?

@TariqJohnson

2 жыл бұрын

Franchisor says to spend 2.5% on local marketing, but someone doesn't because they are scared to invest the money. So in turn, because they don't follow the marketing systems, they don't generate the sales. Or... They feel like they want to start trying to add products or services that aren't apart of the franchise model and get distracted from actually executing on the core services.

I’m 21 and still in college. So let’s say hypothetically, I started working after college and has saved up enough money for liquid assets after a few years. How does one actually start a franchise like where do I go? And do I need to go to school to keep one? Very informative video btw! :)

@TariqJohnson

2 жыл бұрын

You just reach out to the franchise company that you are wanting to start through their website. That starts the conversation, and then you go from there.

@Sanyu-Tumusiime

8 ай бұрын

How did it work out for you, over the last 2 years? @Otakuchan9657

I want to leave my full time job and open cleaning franchise business and becomes big company can help people for jobs.thanks

@TariqJohnson

3 жыл бұрын

You got this!

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

@justjam2177

3 жыл бұрын

What is your product or your selling point

Hello Tariq, I would like to know about the fundamentals of franchising. Startup cost, operating cost, royalty, qualifying criteria, etc. I hate fast food and restaurant jobs in general, but I hate working for others even more. But I am 40 years old and I am sick of working for minimal wages. I am thinking about a possible franchise. But I kind of need to know the basics, costs, etc. Before I dive into it. Thanks

@TariqJohnson

2 жыл бұрын

There is a lot of basic info available with a simple google search. Way to much to breakdown here. Generally for a decent franchise you need to have at least $50k to your name.

I believe people can buy a franchise to gain control.

@TariqJohnson

2 жыл бұрын

Yep - agree.

What do you think of a beauty boutique that specializes in facials? Interested in skoah, please let me know what you think. They have a membership model and also a product line . Please let me know what you think .

@TariqJohnson

3 жыл бұрын

Hey Taruna, hit me up at info@tariqjohnson.com , happy to share my thoughts.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

This may be a stupid question.but I am.looking to franchise a buisness(checkers) in a new.lpcation How much foot work do I need to do to get it running. As far as staffing and setting up a processing system .

hello tariq. this is edwin. i live in the dc area. i've been doing my homework. AI franchise opportunities. would it be a good idea?

I want to open a Farm Store to get out of the job I have. I’m not afraid of hard work, but funding a franchise is a big hurdle for me. $250K is a lot of money! :/

@TariqJohnson

3 жыл бұрын

$250k is a lot. When there’s a will- there’s a way. Research how people fund a business. Don’t give up before you even start.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

Can you use a payroll loan to pay ur employees like in a small business Or will buying a recognized business prevent you from qualifying?

Why or why not? Why would anyone ever say why not to own a franchise? Now what’s the best franchise and the worst franchise to invest in should be the real concern.

@TariqJohnson

2 жыл бұрын

A reason not to own a franchise- is if you have experience in the specific industry and feel confident you can do it on your own. There are so many quality franchises out there- it's less about best and worst and more about what will put you in the best position to succeed and meet your specific goals, based on your local market demand, financial situation, beliefs, and skillsets.

How do I choose the right franchise for me? How will I know I will receive a return and that it will be successful?

problem with owing a franchise is franchisor can raise their material any time and you have to buy from them and you are stuck

@TariqJohnson

10 ай бұрын

Maybe the bad ones, but not all franchises work like that.

My wife is really interested in buying a Pelican’s Snowball franchise, here in Atlanta. She is fixing her credit right now. Should she wait until her credit is better before she submits an application? How high do you think her credit needs to be?

@TariqJohnson

2 жыл бұрын

Credit is only one part, does she meet the financial requirements? Without good credit? How will you fund the business?

My biggest question is this: How large is the time commitment in owning a franchise such as a 7/11, Carls Jr., or SubWay?

@TariqJohnson

3 жыл бұрын

The time commitment is as much as you decide to put in. You can what is called in the industry as "absentee". That means you're not actively involved in the operations. The consequence is you aren't aware of what is actually happening in the business on a day to day basis (employee issues, customer complaints, theft, etc). Also, The less you do, the more you have to hire people to do and the lower your margins are. In all of those businesses you mention, 7/11, Carls Jr, Subway, you could be completely absentee at some point- your margins, and customer service could suffer. Oh and 7/11 and Carls Jr require some serious cash to buy one.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

What advice would you give us on coffee franchise? My and i want to have franchise cafe shop in my country. One of the franchisors we are negotiating has no any location in the country that we are planned to open the coffee.

@TariqJohnson

2 жыл бұрын

I’d personally rather go with a concept that has already been proven in my country- not a new one. Too speculative for my risk tolerance.

What are the biggest employment or labor law challenges you face as a franchisee owner, particularly one with units in two different markets?

@TariqJohnson

Ай бұрын

In the food business, it's turnover. California also had very strict rules.

What training or education should you have to buy into a franchise?

Love your information very helpful! I'm in the middle of negotiation a deal on a pre existing franchises in a stvr. Now I know the short term rentals business and been working in it for past 7 years however it's still nerve raking and hoping I'm making the right choise . My question is any idea if borrowing from SBA loan would be a good way to go as I cannot give the down payment they are asking. Or is this a mistake 😬

@TariqJohnson

7 ай бұрын

Without knowing the specifics of your situation, and the business you’re looking at, it’s financials etc I can’t answer that with any accuracy. Most people put 10% down and SBA loan the rest for profitable resales.

@rozetghazalian5537

7 ай бұрын

Thank you appreciate @@TariqJohnson

I want to franchise a restaurant or simply setup my own steak and shake in my area in N.C. can you EXPOUND on what I should do to begin?

@TariqJohnson

2 жыл бұрын

I got into detail here. kzread.info/dash/bejne/oXhrq6uRkauso8o.html

When starting a new franchise do you have to provide real estate and building plans. And how do you know if there is an existing location available if you don’t want to go through the trouble. Thank you

@TariqJohnson

7 ай бұрын

You buy the franchise first and then find the real estate, and then when you have a lease secured, hire an architect for the plans. You can ask the franchisor if there are any existing locations for sale. They don't always know. Sometimes the franchisees list them for sale without telling the franchisor.

Bottom line: Most of the big brand name companies are only selling to people who are already in the system and own a location or are second generation owners. You have to have a lot of money and be highly qualified (prior management experience and/or business degree) to be even considered.

@TariqJohnson

Жыл бұрын

That can definitely be the case with the “mega” brands, like McDonald’s, Five Guys, PODS, etc. Which brands are you referencing? There are still a lot of established and quality brands that have a great track record of happy and profitable franchisees. It just depends on your goals- do you care more about being in a huge brand, or being in a brand with a proven track that you can still accomplish your goals with.

@GhostGrind

Жыл бұрын

@@TariqJohnson I know Mcdonald's and 7-Eleven are some of the companies who prefer to sell a store to someone who is already a franchisee. They like having multi-location franchisees, they don't really like it when they have a franchisee that only owns one location. What im trying to say is "outsiders" are rarely considered when they are trying to buy one of their franchises. I agree that there are a lot of good brands with happy franchisees.

I'm really interested in courting a local company to partner with in opening another location. I currently sell my baked goods from my home kitchen but would like a more consistent business with a store front. This would be a win/win as I've personally been a customer of theirs for years now, love their culture & believe in their company. Their products also very much so compliment my personal business. What are the best questions to ask? What should I expect to ask for? Fee? Startup, etc? they do renown themselves for local community which is an appeal my business would add to that uniqueness. THANK YOU for any/all advice. I'm so nervous lol

@TariqJohnson

2 жыл бұрын

Are they a franchise or a mom and pop?

So it isnt all about having the money and just find the right place to open it, well it seems like everything is risky financially

@TariqJohnson

2 жыл бұрын

It’s never that simple man. There ARE ways to reduce risk. My team helps a lot of our clients buy resale franchises that are already profitable. It’s like buying a multi unit real eState already filled with tenants.

Hello what about people from the UK? Can US franchise be purchased by someone in the UK,

Hey Mr.Johnson, may I please get your thoughts of owning a franchise after high school?

@TariqJohnson

2 жыл бұрын

If you have the financial resources and believe you have the hustle, and knowledge to be successful - then go for it!

How do you get in touch with the franchise to get the opportunity to franchise???

@TariqJohnson

3 жыл бұрын

Depends on the franchise, but generally they have a website to submit your contact information. What franchise are you looking at?

I am actually a financial advisor also and have been looking into a music instruction franchise. I’m curious what lead you away from being an advisor since many people would view that has “your own business”.

@TariqJohnson

Ай бұрын

Great question. The OBAs were too restrictive. My compliance department was very strict. I couldn’t make any KZread videos talking business or money until I left!

I’d like to open a Dunkin’ what would my net worth have to be roughly to open a new location in a suburbial area just outside of the city

@TariqJohnson

2 жыл бұрын

$500k net worth

How did u become a speaker to Tony Robbins and what does it take to become one?

@TariqJohnson

3 жыл бұрын

I was introduced to the hiring manager, they rejected me numerous times. I was relentless that I could do it. I didn't take no for an answer. I had to memorize a 15 page script JUST to apply for the position. I did that while working a full time job and staying up until 2am trying to memorize it. I flew out to California on my on dime to go the corporate office to prove myself. It was one of the most mentally challenging processes I've ever gone through to accomplish something.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

If have no money or credit. But if I ever do . What about a papa Murphy's in the ghetto. But deliver. You dont need a oven and accept food stamps

@TariqJohnson

3 жыл бұрын

I can't tell if your being serious or trolling...

I’m opening a franchise. Interested in a multi-unit development deal. I need to raise roughly 250k in capital. What would be an attractive yet fair return for potential investors? I don’t have money myself, but I will be an owner/operator and will take a working salary until initial investors are paid back.

@TariqJohnson

3 жыл бұрын

Depends Kenny- how long you plan on holding their capital, what exit strategy you've given them and more. Do research on angel investors. If it's friends or family- very different.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

Hi, I'm 22 years old and I'm thinking of buying a video game franchise in the future. I love playing video games and have been playing at a very young age. There has always been a specific franchise that I have been a fan of but unfortunately has not been receiving the love the franchise deserves. Although it hasn't done good in years, I would like to purchase it and develop a new game because I believe it has so much potential. How do I get more information about the process I would need to undergo. Thank you for taking time to read this.

@TariqJohnson

2 жыл бұрын

Hi there- are you talking about a retail franchise? I'd be cautious about that- as you would be go against the trend. The retail model for video games is dying...in my opinion from what I've observed. Buying a franchise that resales games, would not offer you the opportunity to create your own game. Other than those comments- reach out to the franchisor and get more information.

Currently looking at becoming a State Farm agent. Do you have any input? Of course, I have concerns on the financial side of things or not being profitable.

@TariqJohnson

3 жыл бұрын

That's not my area of expertise.

How do you value an existing franchise. I’m considering buying it from the current owner that’s been in business for 16 years.

@TariqJohnson

3 жыл бұрын

Zack there are a few different ways to value a business. The most commonly used is a multiple of the net income (profits). An example is 2-4x earnings. So if a business profits $50,000 a year, it might sell for $100-$200k. There a lot of other nuances that affect it.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

Hello Tariq, I was wondering if there was a way to get on a call so I could ask some questions regarding buying a franchise.

@TariqJohnson

5 ай бұрын

Hey Alejandro, you can schedule a free call with our team here www.franchiseempire.com/find-a-franchise

What do you think about Starbucks?

@TariqJohnson

3 жыл бұрын

Hey Wendy- Starbucks doesn’t franchise. The only “license” stores if you have an existing business that a Starbucks could be put into. Example: you own a hotel, Starbucks allows you to license a location in your hotel.

@TariqJohnson

3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/