Owning a Franchise | 5 Things You Must Know [Franchise Owner Reveals]

[@jeffw3108]

Tariq, thank you so much for all your wonderful videos and passing on your knowledge. It is no wonder that you are such an amazing Franchisee. You're demeaner and presentation is impeccable. I am taking notes on your attitude and positivity to inspire me to be the best franchisee in my business. Again, thank you for all of your effort in helping us out. Keep up the great work, my friend.

[@TariqJohnson]

Appreciate those kind words Jeff- good luck to you on your new endeavor!

[@thebtran1009]

I believe in you at no.4, i started up small store, i don't know all your share before, now i relized its exactly, absolutely.

[@TariqJohnson]

Hind sight is always 20/20 😎

[@ZenLenfilms444]

Quality transparent info. Good stuff.

[@TariqJohnson]

Appreciate it brotha!

[@TariqJohnson]

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

[@paperstraws2429]

I have to say, you and your wife must be very proud about buying these franchises. The quality of the videos keep getting better and better. Keep it up bro 💪

[@TariqJohnson]

It’s been an amazing growth opportunity for us. I appreciate the kind words! More to come 😎

[@paperstraws2429]

@@TariqJohnson I really appreciate the transparency of your channel and showing off what's great and what's not. You can tell by the way you talk, you know what you're talking about.

[@TariqJohnson]

@@paperstraws2429That's really awesome feedback, thanks! If there's any topics you'd like me to cover. Let me know!

[@paperstraws2429]

@@TariqJohnson maybe some of the steps required to start a franchise???

[@TariqJohnson]

Sure thing! Will add to the list. Feel free to hit me up at [e-mail] if you have specific questions!

[@RoyalQueengoddess1993]

In need of help finding franchise opportunities in NC and seeking a consultant

[@TariqJohnson]

You've come to the right place. www.tariqjohnson.com/consulting

[@moet3038]

Tariq.. Thank you so much for your videos! Can you point me to a Franchise consultant. I'm located in Ft. Worth Texas.

[@TariqJohnson]

Yes- send me an email at [e-mail]

[@davemacmelville914]

Tariq, I have truly enjoyed your informative videos. After 28 years serving in the military I have been looking at franchise opportunities heavily for the last 2 months. I am looking at the flooring and insulation businesses specifically because they seem to be largely recession resistant. I have participated in discovery days for both industries. Both seem viable and I may be interested in investing in both simultaneously as start ups in my demographic. If I start both companies as LLC's under the umbrella of a C corp are there tax liabilities I'm not considering aside from that of each LLC under the umbrella?

[@TariqJohnson]

Hey Dave, glad you've been finding the videos helpful! Thank you for your 28 years of service! A couple of quick thoughts: Be cautious in doing 2 franchises at once or back to back. My advice would be start with one. If you need some guidance on narrowing that process down, or want some 3rd party non bias insight you can send me a note at [e-mail] In regards to taxes and LLC/C- Corp. That depends on your situation, as well as where you live. I'm not a tax expert so I would seek guidance from a CPA on that question. I'm launching a franchise consulting service, so would be honored to help you along the process if you want it. Here's to your success!

[@TariqJohnson]

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

[@BonBonShrimp]

For franchises whose FDD does not include item 19 (revenue and profit numbers for franchisees), what is a good way to still get some idea about those numbers?

[@TariqJohnson]

You'll need a blank pro- forma, and to piece together the data on a bunch of franchisee validation calls.

[@pigtailscrewcuts4345]

Hey Tariq, regarding creating and reviewing Proforma numbers, is this something franchisors will help to put together or would I be on my own to do?

[@TariqJohnson]

Typically a franchisor will provide the template. If they don't you'll need to create one or find one- as the calculations can be complex. The franchisor can help with some realistic data to use for the pro-forma, OR you can talk to existing franchisees. That's what I did. Corporate is really careful around setting expectations on any sort of performance you may or may not experience- so your greatest resources are often other franchise owners in the system.

[@brittneymassey]

Can you include any type of crypto passive income as liquid cash if I transfer it to my bank?? I hope that question makes sense.

[@TariqJohnson]

Cash is cash , and considered liquid no matter where it comes from. 🙂

[@catherinelepetit2796]

Hi Tariq! I received my Franchise agreement... YAY! About to sign but wanted to ask you if I should have it review with a lawyer or if the agreement is non negotiable anyway? Thanks!

[@TariqJohnson]

Congrats! It’s 50/50. Often times Franchise agreements are non negotiable. I would ask the Franchisor delicately and see how they respond.

[@catherinelepetit2796]

@@TariqJohnson They said it was non-negotiable :-(, I guess I won't "waste money" on a lawyer!

[@TariqJohnson]

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

[@lisagurrie8143]

Can I get your blueprint please?

[@TariqJohnson]

Email us at [e-mail] and we'll send it to you.

[@ayshinae]

Hey I sent you an email already. I would love to be connected to a trusted consultant! Please help!

[@TariqJohnson]

Just responded to your email.