If you'd like to quit your 9-5 and achieve financial freedom, here's a proven playbook to do it: I graduated college in 2010 and had no idea what I wanted to do with my life Fast forward 14 years, and I now own 46 franchises doing $42M/year The crazy thing? Anyone can replicate this model Here's how: In franchising, there are two parties: • The franchisor (e.g., McDonald's, Burger King, KFC) • The franchisee (the business owners - like me). Franchisees pay the franchisor to operate the business model but never own the brand - they rent it The franchisor focuses on building better systems for franchisees like: • Product and service optimization • Research • Pricing • Margins Franchisors aim to create better marketing for all franchisees They spend millions on consumer research to: • Identify trends • Create the brand • Develop content • Buy digital marketing Franchisors provide support to franchisees through: • Online training • Business and technical coaches • Regional and national meetings • Expert speakers • Consultants These activities are unrelated to the operations of the business Franchisors mainly earn revenue through franchise fees and royalties Fees include an initial fee to buy a license. Typically, $30K-$60K for a single unit for 10-20 years The second way franchisors make money is through a % of sales. Typically 5-8% of sales paid weekly or monthly Well-run franchisors are high-margin, recurring revenue models that generate a lot of money Because there is often a lot of money involved, this creates a lot of appeal A major problem in franchising is people thinking they can become a franchisor with: • A small budget • Weak systems • Poor training • A cheap brand This is how franchisees lose a bunch of money because the brand is built like a house of cards This is why it is incredibly important to find the right franchise for you Not every franchise is a good choice It's important to do your research and make sure the franchise is a sound investment Now, let's explain who the franchisees are Franchisees are ordinary people, usually with sales, management, or leadership background Most come from Corporate America or have owned a small business They make money like traditional small business owners As a franchisee, growth can come from: • Increasing sales and margins • Buying new licenses • Acquiring existing stores • Expanding into new brands. This playbook allows ordinary people to build wealth The best decision of my life was to get into franchising. It has allowed me to achieve financial & time freedom Today, I run 46 franchises doing $42M/year Not only that, but I also help others do the same If you'd like to learn more about franchises, follow me!
Good stuff! In our experience we've seen home/commercial building service franchisees crush it the most.
Helping businesses save money & reduce liability on real estate.
9moWhen you're the one behind the wheel, the possibilities are bright if you work hard enough 💪