Should I Buy A Franchise? 5 Pros and Cons You MUST Know

[@TariqJohnson]

📘 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

[@loyal365]

Do you offer any one one services

[@freddya.r.8726]

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]

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

[@treeez_____5317]

Patient persistence commitment

[@mohammadarifulislam5974]

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.

[@user-bg3qy9zi7v]

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]

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

[@nathaniellynch6266]

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]

Appreciate that vote of confidence Nathaniel 👍🏾

[@ibby7112]

How it going

[@LuminaryLookExtensions]

Did you start your franchise?

[@TYPthePYT]

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]

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]

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

[@TariqJohnson]

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

[@bridgettemayer8975]

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]

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

[@TariqJohnson]

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

[@TariqJohnson]

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

[@adimd8357]

@@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]

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

[@expresslawnmowing5969]

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

[@TariqJohnson]

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

[@LeoLandaverde]

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]

Thanks Leo! Start with why!

[@ethanbentley_6662]

Looking to buy my first franchise at 19

[@TariqJohnson]

You got this!

[@PsychedelicPhD]

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]

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!

[@LilyGrace1990]

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]

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/

[@floriangardner3405]

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]

Glad it helped! Think and then DO!

[@TariqJohnson]

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

[@Zo-hc2fn]

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]

Nice!

[@TariqJohnson]

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

[@patrickfiddler5734]

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.

[@anthonyserraneau6076]

This was very helpful information thank you

[@TariqJohnson]

You’re welcome

[@B.Phill7]

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]

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

[@TariqJohnson]

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

[@JTclips-v4q]

thank you for the video and after a year of owning multiple franchises like five guys and others could you be making ALOT of money passive income that’s what I heard for example shaq please correct me if I’m wrong though

[@marleeellis6425]

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

[@TariqJohnson]

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]

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

[@Edwin-pj7pt]

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?

[@dontestrachan2350]

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

[@TariqJohnson]

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

[@colejason1968]

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.

[@eliboatman]

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]

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]

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

[@TariqJohnson]

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

[@danshelhooper7365]

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

[@TariqJohnson]

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

[@FalhenStudios]

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

[@TariqJohnson]

My pleasure.

[@scorpios.wrld_]

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]

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

[@chillintm]

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]

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]

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

[@shaelove473]

Wow thanks for giving us this valuable information tariq

[@virajganglani6619]

@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]

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

[@sdiz3509]

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?

[@sdiz3509]

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

[@brucegriffin1276]

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]

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

[@crystallynngreen6934]

I am an educator, things are going south across the nation, therefore I want out. I want something that will put me in the best position to bring in a better income for all the work that I do. I want to be financially stable and love what I do. Is this the wrong reason to pursue?

[@rcaction8030]

Great video. Thanks Tariq

[@TariqJohnson]

My pleasure RC!

[@Y317]

Thank you for making these videos. 🙏🏻

[@TariqJohnson]

My pleasure!

[@worldwideachievers1234]

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

[@TariqJohnson]

Thanks! Exit strategy is key.

[@issifisoumana2037]

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

[@TariqJohnson]

You got this!

[@TariqJohnson]

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

[@justjam2177]

What is your product or your selling point

[@slvshy666]

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

[@TariqJohnson]

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]

@@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 🤣

[@dilliemobbjoshtv171]

Thanks for video very informative looking to purchase a franchise already established such as Taco Bell subway etc any videos related please share thanks

[@emilywelsh5359]

Thank you so much! Wonderful video.

[@TariqJohnson]

You're very welcome!

[@atlballin7417]

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?

[@brownmate4852]

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

[@MillionaireMindframe101]

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]

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]

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

[@hamid_4084]

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]

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.

[@elizabethbolf3629]

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]

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

[@azymodares4672]

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

[@TariqJohnson]

?

[@cheridotson146]

My hubsand and I are thinking about purchasing a tool truck. What are your thoughts?

[@gitasuji4158]

Thank you.i want to learn more of it .i am planning to do small kind of business with minimum investment and I like franchise business .But How may I proceed to learn and meet the mentor ?

[@nickodemis]

Great Video!

[@TariqJohnson]

Thanks!

[@AKJAG]

can it be managed like a side hustle ?

[@beast_o4201]

Awesome video 🔥

[@TariqJohnson]

Thanks 🔥

[@bradlewis117]

Very informative. Thank you.

[@TariqJohnson]

My pleasure Brad.

[@hectormayoral443]

Thank you so much for this information

[@TariqJohnson]

My pleasure!

[@TariqJohnson]

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

[@rhussein2639]

Very informative video, thanks

[@TariqJohnson]

Glad it was helpful!

[@TariqJohnson]

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

[@EMERGENCYNYC911]

Thank you for this video..

[@TariqJohnson]

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

[@otakuchan9657]

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]

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]

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

[@driptcg]

Still halfway through, but thanks for sharing.

[@byronrich2780]

Great video. Thank you

[@TariqJohnson]

You are welcome!

[@wendyatilano6077]

What do you think about Starbucks?

[@TariqJohnson]

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]

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

[@crystallynngreen6934]

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

[@mikebrownbassist802]

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]

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

[@nickodemis]

This Guy is a Champion!

[@TariqJohnson]

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

[@SahalS8]

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

[@bleachfan178]

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]

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.

[@KennyRomes]

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]

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]

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

[@adminprinceofficiale6859]

Will a fast food franchise make me sny acceptable returns??

[@TariqJohnson]

Food is typically a lower margin business.

[@brianjones5271]

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 .

[@jaqqueen7]

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]

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

[@marissaherrera3734]

Could you jump into the franchise business without any knowledge of it??

[@TariqJohnson]

Yep. If you want more knowledge go to my website, I have a bunch of free resources and trainings there. www.tariqjohnson.com/

[@azymodares4672]

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]

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

[@mareneagb2336]

Thanks for the info sir.. 😊👍 💯

[@TariqJohnson]

My pleasure!

[@TariqJohnson]

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

[@larenzolotto]

Thank you 👊🏽

[@TariqJohnson]

My pleasure

[@chrisstinson5658]

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]

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.

[@checosa9202]

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

[@alejandroganem1183]

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]

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

[@rozetghazalian5537]

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]

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]

Thank you appreciate @@TariqJohnson

[@peter_knowz_lifting]

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]

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.

[@Corndog89]

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]

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]

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

[@caden0622]

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

[@TariqJohnson]

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]

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

[@Lanigirl88]

We have a very small icecream business and a few people have talked to us about taking our business to other places. Would this be a “franchise” ? I’m just not sure how to go about a “deal” on such a small scale.

[@TariqJohnson]

Franchising a business is a lot of work and takes a lot of capital. If it's a small business as you mentioned , keep your life simple and enjoy growing your business!

[@brokenbottleproductions1222]

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

[@TariqJohnson]

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

[@tarunajoshi5690]

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]

Hey Taruna, hit me up at [e-mail] , happy to share my thoughts.

[@TariqJohnson]

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

[@venomgamer914_yt2]

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]

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]

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

[@pamelagurrola1269]

Really enjoyed your video

[@TariqJohnson]

Glad you enjoyed it!

[@TariqJohnson]

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

[@mz1929]

How long do you think is the ROI? I'm thinking of Franchising a juice bar too. There all doing about 600k -800k+ a year. I'm worried that if I need a loan and how long is the license for. Will I even come out neutral or profitable on the end. What protects me as a franchisee? When the contract basically says they can take it away and stuff etc

[@TariqJohnson]

Phew deep questions there. I can't dive into them in depth on here, but if you want help/coaching - reach out to my team and we'll see if we can help ya. www.tariqjohnson.com/consulting

[@khalifdalmar9673]

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]

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.

[@GhostGrind]

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]

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]

@@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.

[@sergiorubio1311]

I am 29. I will be turning 30 in June. I would like to own a franchise myself. Im looking to create for something on the side. Id like to be be an "absantee" owner. A convinence store with a gas and car wash draws my attention. Any suggestions Mr. Johnson?

[@TariqJohnson]

Start researching how much gas stations or car washes are in your area. Find out if there are any existing ones for sale- go work at one part time to get a feel for it- put together a plan on how to buy one, execute that plan.

[@TariqJohnson]

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

[@Woljap007]

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

[@Puma.da.don.fitness]

If I don't own the company how do I get paid ?

[@cliftonfrederick1120]

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]

I got into detail here. kzbin.info/www/bejne/pXWaenyOlq15qck

[@VolticReplayz]

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]

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.

[@peacelove4809]

Would this work like a passive income source?

[@thekalib121]

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?

[@DeltaLou]

I am in the process of getting a Chicfilet franchise. But, it's different. I'd only be an operator. Do you know anything about Chicfilet?

[@TariqJohnson]

Well, considering you have less than a 1% chance in getting a Chick Fil A franchise- Congratulations! If you are going to operate one you should probably nail down the spelling 😉. I know enough to be dangerous...😎

[@TariqJohnson]

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

[@hastayt4761]

So I wanna start a cleaning company but idk if I should start one for the ground or join a franchise

[@TariqJohnson]

I don't know much about you or your situation to answer that. People join franchises for the proven system and support.

[@samuelaniraz4259]

I have a product that can becomes franchise business… how do you can help me?

[@mosskoolie4114]

Hello my name is Will. I don’t have the money or experience in this area but, I would like to pitch the idea of owning a Walmart in the county where I live. The area doesn’t have any franchises of any kind in the county. The good thing is that the county has money and is a great location to place a Walmart. It connects three major counties but this particular county doesn’t have what the other two have which is a Walmart. So everyone in the county has to travel to get what they need. I know it would be a huge profit! So my question is, How do I pitch the idea to Walmart to that the area where I live would be a major profit by opening in this area.

[@TariqJohnson]

Walmart is corporate- they don't franchise from what I know of them.

[@michaelbriddell4140]

I want to get a franchise but I’m not sure where to start I do have about 25,000 but I just don’t know if I have enough to start.

[@TariqJohnson]

There are a few franchises that you get into at that range. Overall my recommendation is to have at least $50k before you start, but have had clients get in with $25k saved up. If you want my help, check this out. www.tariqjohnson.com/consulting

[@bruce3244]

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

[@TariqJohnson]

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

[@mikeyyyy1111]

Hi Tariq, I’m trying to buy existing franchise location which opened 2 yrs ago. This Teriyaki company(similar to flame broiler) is small franchise which only has about 7 locations total. I’m trying to buy one of them. Franchise fee is $15,000(payment to franchise owner) and $35,000(payment to location owner). Monthly sale has decreased due to pandemic but recent average monthly sale is about $30,000. Franchise fee is 3% weekly, 1% Advertising Franchise fee(monthly), Rent is about $5,000/month. So, I need at least about $50,000 to change ownership of this this location + additional fees. So many people are saying bad stuffs about franchising, so I’m really not sure if this is worth doing it. Please advise. Thank you🙏🏼

[@TariqJohnson]

Mike- my apologies for the delayed response. I'd need to understand more about this business and the financials. What do the P&L and Balance sheet look like? The $15k fee sounds like the transfer fee to the franchisor? Are you saying the owner is selling the business for only $35k? 3% weekly is 12% royalties which sounds high to me. Go to my website and submit an inquiry if you want to dive in more.

[@TariqJohnson]

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

[@Rommie26]

So as an absentee owner you just buy the franchise sit back and relax and collect income?

[@TariqJohnson]

Not at all. That’s a common misconception. First, if you’re buying a new franchise you need to get it up and running. That takes time and effort. Second, if you’re buying an existing franchise you still need to work ON the business, ideally not IN the business. Big difference. Any business is going to require your time and attention. That looks different depending on the industry, business, your personal experience in running a business, managing a staff, and understanding how to put the proper systems and operations in place. Check out my video on Passive Income Franchise.

[@TariqJohnson]

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

[@reinextdoor]

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]

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

[@oneministries4878]

What percentage of the profit can the new owner of the franchise expect?

[@TariqJohnson]

It all ranges , I talk about it in this video kzbin.info/www/bejne/pHvXcnuXeb6YpKMsi=UO5Bg-JBLCrEyiis

[@danielcrouse8010]

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