Owning a Franchise | How Much Money Do You Make?

[@TariqJohnson]

🤑 5 Low-Cost Franchises That Make $1 Million: Learn about affordable franchises with high returns. Learn More: www.franchiseempire.com/lowcost

[@gregbreen8296]

Just bought my first pizza franchise. It’s an existing store with 10yrs of business and loyal customers. Biggest issue was the location is 2 hrs from my house. If you have the right employees then this isn’t a major issue. Hire smart and fire when appropriate. Don’t delay on either on of those. Everyone should read book, Good to Great. Love the channel Tariq

[@TariqJohnson]

Awesome Greg! Do you want to be on my channel and I interview you? If so email us at [e-mail]

[@fuzuzafitness8354]

Hi Greg, looking to get into the space as well, which brand did you go with?

[@staycoolwithrob]

Just purchased book. good to great from Amazon

[@williammitchell4054]

Thank you for all your advice, I’m talking to a business currently in regards to opening my own franchise here in the Uk, a quick KZbin search on advice found me your channel and it’s helping me out a lot, particularly found the video about starting with no money helpful as I have very little equity to my name.

[@TariqJohnson]

Welcome William! Best of luck to you in the process.

[@peterparker6118]

I’m really interested in operating and opening a franchise. I tend to think the “might as well do it myself” mindset. But the learning aspect is what intrigues. That’s why I wouldn’t mind making around 60-70k in profit. Anything else is a blessing

[@TariqJohnson]

Your perspective makes sense. $60k-$70k profit is realistic with the right concept. Starting a business is hard either way you go. Having the blueprint helps A LOT.

[@olaade1555]

Thank you for answering some of the nagging questions I have about owning a franchise I really appreciate all the free and valuable information

[@TariqJohnson]

My pleasure!

[@chinwemaduka2430]

Thanks for the details in your videos.

[@AnthonyIsToeKnee]

I can relate to you when you say that allot of folks cannot watch a 20 min video on business. That's great advice. I'm interested in starting a franchise in the next year or two. I could start sooner and borrow the money or wait 2 years and pay cash. How would paying all expenses up front change your equation? Skipping the rent and interest on all the loans. Also, could you get cheaper deals with cash? Going into my first business I want the best start that I can. That's what I think about. Also, I found Robert Kiyosaki a few weeks ago and I'm certain to say I've been bingeing business, taxes, real estate, and franchise videos about 10 to 12 hours a day while I do other things. 20 min video doesn't get me through my coffee lol great video 👍

[@escapingthewilderness]

I’ve literally watched from beginning to the end 🙌🏾!!! Took plenty of notes☺️

[@TariqJohnson]

Awesome!

[@louaimajor7070]

Is there video about what to expect to profit from the mother corp. Point of view When starting a franchise . Realistic statisticsl data of people buying into a franchise. Thank you on advance.

[@schmill2444]

I’m 23 I have 20k saved and I want to open a franchise I have watched your videos for a while

[@TariqJohnson]

Nicely done on saving up 20k! I saw your other comment- I do Franchise Consulting, and Business coaching. You can apply here www.tariqjohnson.com/consulting

[@schmill2444]

@@TariqJohnson thank you and I just filled out the form

[@TariqJohnson]

I sent you an email.

[@TariqJohnson]

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

[@mohamedajalloh]

Hey boss! How was the consultation? Have you started your own franchise ?

[@ClaudiaPerez-tx3dz]

This is great info! Thank you...!

[@TariqJohnson]

Glad it was helpful!

[@TariqJohnson]

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 [e-mail] and I’ll reply with the link to book directly on my calendar.

[@angrymongorrian8825]

Hey Tariq i love your page and videos, im looking at buying a code ninjas franchise that is turnkey ready and was wondering if you did any kind of like 1 on 1 calls with people?

[@TariqJohnson]

Hey Javier- you can apply for coaching with me here www.tariqjohnson.com/consulting

[@estefanjoseph7281]

Would really love to start up some type of business or franchise operation going. Don’t have the buying power to put in 50k-200k in a startup. Trying to breakdown what are franchise options in between that 10k-30k range

[@TariqJohnson]

Common situation. I made a video on this: kzbin.info/www/bejne/sIjUmKmhdreBi6c Other option is to start your own business!

[@Juicelyfeagainstdaworld]

I was offered to run a local pizza franchise I don’t know what to charge 12 hrs day.

[@TariqJohnson]

Eh?

[@dennisarranaga655]

I have talking to a few franchise companies. What caught my attention was a Franchise consultant. How profitable is this?

[@yeshuagl6282]

The more important figure is not the net margin on sales but the percentage of net income/margin to investment.

[@TariqJohnson]

Definitely an important number to know! Solid advice.

[@derrekb4501]

The most important is cash flow in a small business, without it net margin, or net income won't matter, to survive you need revenue to pay bills first, to be successful you first need to survive through the first few year, yes, once established then you gotta pay attention to your margin then income, obviously working 80 hours making $35000 a year is not a worthwhile investment, even once can technically call it "profitable", most here are looking for advice to start their first business, I've been there, extremely risky because most here have no idea what is waiting for them. Some will make it, most won't, that's how brutal franchise is.

[@freddychico3621]

I signed up for a call but curious if there are any grants for franchises possibly for minors and/or veterans

[@TariqJohnson]

This is definitely not Tariq actually responding. 😆 I’m sure there are grants out there, we have another coach on our team that knows about that stuff. I’ll ask him, what he may be tuned into. Hope you enjoy the loom. 😉

[@freddychico3621]

@@TariqJohnson ok thanks for your response

[@Fredannan1]

Hi Tariq ...great content value btw. I am looking into the signs and graphics business investing approx. 300k. Is this an area that in your opinion has seen high profit margin?

[@nickodemis]

Great Video!

[@TariqJohnson]

Thanks!

[@escapingthewilderness]

This is great information! What are your thoughts on franchising a therapy center?

[@TariqJohnson]

Are you asking about franchising a business that you already own?

[@escapingthewilderness]

@@TariqJohnson franchise a business that someone else own

[@EmmanuelOnitheoneandoni]

I'm getting the book now!

[@TariqJohnson]

Boom!

[@boatenthusiastandexplorer6961]

Do they have franchises out there Where are you don’t have to do anything you just make sure everything run smooth all the bills are paid and make sure there’s plenty of inventory

[@TariqJohnson]

Not really.

[@bradhansen2970]

I think you said in the past that you earned $2.4 M Goss revenue from all your years from both your juice bars. What was your profit margin? How many years did you own each?

[@TariqJohnson]

Hi Brad, I appreciate your attention to detail and specificity. I'm not sure what your intention is with your question...but I opened my first location in November 2017 and bought the other store in August 2018. As much as I share already personal information, I'm not sharing my profit margins with all of youtube.

[@bradhansen2970]

There are two Smoothie King franchises that are for resale near me. I wasn’t that interested until seeing you’re KZbin but I’m a numbers guy.

[@TariqJohnson]

Got it- it's a great asset to be a numbers guy. Have you reviewed the Financials for the business yet? (P&L and Balance Sheet) . Shoot me an email at [e-mail] it's hard to track replies here on youtube.

[@TariqJohnson]

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

[@TrapstarWock]

@@TariqJohnson imagine not being secure enough to share a silly number 🤡

[@samozinn]

What’s the chances of making a $380k+/year after all the expenses with a $500k net worth?

[@consciousimmortal]

I would love to make $15,000 a month owning a franchise. I am looking to start a smoothie and juice bar. This video has so much value. Thank you. #item19 #AUV

[@TariqJohnson]

Glad you enjoyed it. $15K/ a month gross or net?

[@mannanshaik1485]

Hi, I’ve been watching your videos for awhile, I’m living in Singapore and I’m thinking of owning a franchise business but I’m not sure what franchise can I buy. Could you advice me on what franchise can I buy?

[@TariqJohnson]

I’m not familiar with franchises in Singapore.

[@ChrisJones-yt8zp]

Tariq, thanks for the video. What is the average time most franchisees keep their business before selling or closing?

[@TariqJohnson]

I'm not sure Chris, I don't have any data on that- now that you ask, I'm going to go looking.

[@nathanielcormier4930]

Nice information

[@TariqJohnson]

Thanks

[@LTDChannel614OH]

Looking to become a silent partner with a youth sports league franchise . . . what should know?

[@TariqJohnson]

Do your due diligence. There's a lot to know- hard to sum it up in a comment on YT, but keep watching my channel as I've made a lot of videos on it. Or you can reach out to my team for help. www.tariqjohnson.com/testimonials

[@sherylbrooks6538]

Hi, TariqI am learning a lot from your videos. I’ want to purchase an interior design franchise, but getting a loan is confusing what are the first step?

[@TariqJohnson]

The first step is to apply with a lender! You need 20% down for SBA. Hit us up if you want help. www.tariqjohnson.com/consulting

[@harryl9640]

Hi Tariq. Responding to your question about what I would like to make by owning a Franchise or my Own Business- On just one location, it would need to generate $250k net to me in owner benefit to warrant the investment of time, money, and risk.

[@TariqJohnson]

Harry- looking forward to our call to discuss working together. The likelihood of netting $250k on one location is very rare. Those are typically the top 1% of locations, and in the mature years once open for 3+ years. The only way to increase the likelihood is to be a multi unit or multi territory owner.

[@aranznaz6916]

I just graduated from graduate school. I have (new) school/student loans, along credit card loans. No other expenses. An opportunity has presented to invest/franchise in a restaurant. Is it possible to get a loan and start such investment at this phase of my career? I was hoping such investments could help pay student loans faster. Rather than waiting to pay off loans BEFORE making investments ventures.

[@TariqJohnson]

It's POSSIBLE, but do you meet the franchise net worth requirements? Are you investing passively, not to run it? If so what's your targeted % return? If it's purely passive investing, there are probably better strategies than what you are suggesting.

[@samk.4158]

Hey, im interested in this. Id like to talk soemtimes. You said its rare for somebodu to make 250k+ in this business, but have you seen it happen? Is it easier to open another once you open one? How is it owning multiple?

[@TariqJohnson]

Reach out to us on our website, our team is happy to help. www.tariqjohnson.com/

[@oracleofgod6716]

Hello Tariq, first of all I'd like to thank you for this video, My question is, can one be an absentee franchise owner and how?

[@TariqJohnson]

Yes of course. I made a video talking about this topic.. Two actually. Watch this first: kzbin.info/www/bejne/Y4atqHyNgq-dbtk This second: kzbin.info/www/bejne/i6C0eJerps1sfM0

[@alejandrobulux6232]

I am interested in purchasing a Firehouse franchise in Northern Virginia. I was able to obtain the Financials for 2021 and 2022. Is the best route to get feedback is speaking with a loan officer since i would put 20% down? The sale price is $225K plus transfer Franchise fee of $10K. Any feedback when taking over a franchise in place ?

[@TariqJohnson]

I'm not sure what kind of feedback you are trying to get? I made a video on what do when buying resales check it out. kzbin.info/www/bejne/d17Gd2yXq9x6bas Out side of that, I don't get notifications to replies here so you can go to our website and schedule a strategy call if you need professional help.

[@newaccount1268]

Is that store already up and running? Curious as to what the gross sales are if the sale price is 225k? And why are they selling?

[@lecikov]

hello. whats your opinion on buying the first francise from a francisor

[@TariqJohnson]

As in- they don’t have any franchisees yet?

[@lecikov]

@@TariqJohnson Yes. They just started as a francisor.

[@schmill2444]

Do you do mentoring?

[@TariqJohnson]

See my other reply.

[@TariqJohnson]

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

[@Lawnandgarden]

When talking about profit is it gross profit or net profit?

[@TariqJohnson]

You need to know both. But net profit is the bottom line.

[@boatenthusiastandexplorer6961]

How to find a franchise that does everything for you the hiring and all the other things

[@TariqJohnson]

Doesn't really exist.

[@Kbaby7.62]

Is it difficult to manage living expenses and paying back a loan with the monthly income you would receive from owning a franchise?

[@TariqJohnson]

Depends on the franchise. Plus, there will be a ramp up period in any business. All comes down to my profitable franchise formula I train on. The higher the demand , the better position you are in.

[@sumtingwongnow]

I’m joining a sandwich franchise and yearly it seems to pull in $350-370k Is it out of bounds to say I would profit 10 % ? If I was a manager as well would that boost my profit to over 5g a month in your opinion ?

[@TariqJohnson]

Depends on a lot of factors. If you want professional guidance, we can help www.tariqjohnson.com/consulting

[@sumtingwongnow]

We need a franchise that will bring me 6k a month is that possible ?

[@teehemp]

What is your take on franchising a cruise or travel, vacation business?

[@TariqJohnson]

It’s usually a low cost franchise- so good from that perspective. It’s one that relies heavily on marketing, networking and your ability to build relationships and sell. As the world opens back up- could be a quality business.

[@wilsonorr6762]

Just my two cents... if/when another Covid-like event occurs, cruises & air travel are the first things to go... you could be out of business for a year. Local travel may not be as bad, but could still suffer.

[@LINJ638]

@@wilsonorr6762 SOCIALIST AND MARXIST REGIMES ARE DESTROYING AMERICA AS YOU KNOW IT!!!! FUCK HOPE!!!! COLLASPE IS ON THE HORIZON!!!!!

[@renabell3811]

Where do you go to find a Franchisor FDD and AUD?

[@TariqJohnson]

You get the FDD from the Franchisor. AUV* Average unit Volume sales would be in the FDD.

[@sidneycanterbury5739]

Is Zaxby's a good franchise to buy?

[@TariqJohnson]

For some people yes, for some people no. I'll research them more and maybe make a video.

[@YET64]

Great information 👍

[@TariqJohnson]

Glad it was helpful!

[@Sonancy]

Is the franchise agreement and the FDD the same thing?

[@TariqJohnson]

Technically no. The franchise agreement is inside of the FDD, but the franchise agreement is a separate document.

[@Sonancy]

@@TariqJohnson thank you for replying!

[@nathanielcormier4930]

I am a loan broker just staring how can I on a business or a franchise thank you

[@TariqJohnson]

I don't understand your question.

[@Reodai]

I would like to chat about having you as a franchise consultant for me. Hopefully we can chat.

[@TariqJohnson]

Hi there- Go here and complete this application www.tariqjohnson.com/consulting

[@shoaibchaudhry550]

Bro if it was free ebook... it would have showed in my email... but it didn't

[@TariqJohnson]

Maybe it landed in your junk?

[@rahmajik]

Thoughts on JunkLuggers in 2021?

[@TariqJohnson]

Don't know anything about them. People always need to throw crap away though! Question is on the systems, marketing, and operations of that specific business.

[@amberfannin8729]

Love your videos. I would love to ask you some questions regarding the home health franchise my fiancé and I just purchased. Cash vs loan and how much of each would be most beneficial

[@TariqJohnson]

Cool, we have a mastermind for franchisees that I run. Send us an email at [e-mail] and we can see if it makes sense for ya.

[@TariqJohnson]

How much Money would you love to make owning a franchise? Make sure to grab my FREE 7 Step Blueprint to Business Profits in 60 days!! www.tariqjohnson.com/

[@consciousimmortal]

I would love to make at least $15,000 a month owning a franchise. I might have to put down $65,000 to start a smoothie juice bar business.

[@Asolimando]

Would you hire a lawyer to review FDD?

[@TariqJohnson]

Yep

[@amukelanintsako535]

Can u open a franchise using a loan money

[@TariqJohnson]

Most franchises are opened using a loan and some sort of down payment.

[@sir_cornholio5]

In thinking about F45

[@TariqJohnson]

Cool. I’m familiar with that concept.

[@kshan6911]

how can i contact you . i would love to speak with you

[@TariqJohnson]

www.tariqjohnson.com/consulting

[@kshan6911]

@@TariqJohnson I went to the site and you denied my request because I don’t make enough money basically. But thanks tho

[@TariqJohnson]

I understand, yes we do have a net worth requirement to qualify for coaching. Best of luck to you.🙂

[@alenayou2352]

if i'm trying to buy a franchise, and you won't tell me how much you make? that's a joke

[@TariqJohnson]

Are you talking about me or the franchisor?

[@jadenalleman5137]

Do you think I should open multiple of ONE business, or multiple DIFFERENT franchises?

[@TariqJohnson]

Depends- what's the pros and cons to both? Do you have a location opened yet? If it's doing well, and you like the business- why wouldn't you open another one? There is likely no efficiency with opening multiple different franchises- but if you open one, and you don't like it- sure try a different one.

[@jadenalleman5137]

@@TariqJohnson yes I own one. It’s a quick service chicken restaurant and service isn’t too slow, but profits aren’t as high as I’d like it to be. Right now we’re the only location in Texas though, so the name isn’t as popular as a “Wing Stop” for example. I questioned whether to do what Burger King did when they first opened, which was open multiple locations, even though they were struggling, to get more business and it became a serious competitor to McDonalds.

[@TariqJohnson]

Yea I get it man. How long have you owned it for? Is it your only source of income? Sometimes it’s better to “cut your losses” and move onto the next one. That’s such a nuanced situation, that’ll take a hybrid of great strategy and gut instinct to determine what to do next.

[@jadenalleman5137]

@@TariqJohnson thanks for the input.

[@faizfitri3553]

even though i dont have any background in accounting or food and beverage industry .. but i know some trick and tips about good business .. im just 20 years old going 21 but my hand are tied by money and parents . I want to own a tea cafe at my place that are offering licensing currently . I need around RM 300,000 to invest in it but i dont have any money same goes my parents . They told me to just ignore it and we can make our own business whenever we have money but i doubt that 🙄🙄 . So my only option is to find an investor that i can partner up which is hard to find but i was thinking to ask my district rep since i want to open the business at my district . Please pray for me to get a green light and agreement to partner up . i wanna ask questions , can i still doing this franchising/licensing cafe business even i dont have any accounting background ? I work hard and very commited to what i do and a fast learner .. so What do you think ?

[@TariqJohnson]

I don't fully understand your question, and everything depends on the specific franchise concept you are looking at. Sounds like these are not U.S. based- so I'm not able to help you.

[@TrapstarWock]

Bro you can run any business you want without any actual experience 😂 aslong as you learn and do your best at it and provide amazing customer service, that’s all that matters.

[@trailertrish]

you are VERY young to own a business. keep that in mind bc ur employees need to respect u, and at that age, its going to be difficult. good luck!

[@masonbuck9764]

@@trailertrish I disagree with age. Age doesn’t matter. It comes down to leadership and respect. If you’re a great leader and take care of your employees, they’ll take care of you.

[@anotherguy5038]

Matthew 7:21

[@TariqJohnson]

❤️

[@Mark-vs9rk]

Too broad of a topic to be of any value.

[@TariqJohnson]

With 37,000 views someone got value, or YT wouldn’t keep recommending it.🤷🏽‍♂️