The reason for buying a franchise is to replicate a successful business model cutting out the failures of building a business costing more than a franchise would. Support is there from the franchisor to make it a success so you are buying experience and expertise to make it a success, Building a business from scratch is much harder and could become more costly
think about what "support" could entail though. some franchisors go way beyond "support" in some cases micro managing your entire venture, which essentially means you have paid upfront for a very unpleasant job in some cases
Yeah majority of businesses fail within 5-10 years Ive heard … Also what if your skillset would makes sense for using others business system and youre not the best at creating a business system?
I'm in the very early stages of discussing a franchise opportunity(in the UK though) and your videos have provided me a wealth of information in such a short period of time. I feel better equipped going forward to ask the right questions and make the right choice for me, so thank you!
I don’t like all the decision making that comes with starting my own business. This is coming from someone who took 8 years to decide what color to paint her kitchen lol.
LOL oh wow. Owning a business isn't for everyone. Important to know that. If you wanted to though, you can build the habit of making decisions more quickly. Procrastination usually stems from fear.
Thanks? I was explaining who franchising is NOT for, I didn’t say franchising isn’t a good idea. There are tens thousands of people , if not more who have built successful franchise businesses and teams- NOT buying a job. There are plenty of others who have not. Just like any pursuit in life- some people succeed, and some don’t. The question is- how do you intentionally create the success you desire, and drastically increase your probability in doing so.
I just emailed you ! I will be reading your blueprint materiel soon ! Thank you for the videos and Information about owning a franchise. It’s a HUGE commitment. I’m taking my time researching the company that I am thinking of franchising and I plan on reaching out to the franchise owner of the one that is near me. I want to make sure it’s the right decision for me. I’m ready to put in a lot of time including weekends. I will continue to watch your videos. Very Inspiring !
So far so good your videos gave me a deeper understanding of the business world. So my game plan is to go for an accounting course in my college in Singapore as a skill set that I will find very important in a business. As always thank you for the in-depth, detailed videos.
Accounting is definitely an important skillset Alex- always one you can outsource too 😀 Kudos for having a plan, and taking meaningful action towards your future! Thanks for watching!
Hello great video I have been researching franchise opportunities. This video really highlights the issues and commitments required to become a franchisee. There are many videos online for but not against therefore your video caught my eye.
Thats my question if i only have to work hard for a couple weeks or so thats not a big deal its a short amount of time whatever itll be worth it long term again what i DONT buy is a job that i have to show up for everyday.
There are plenty of food franchises having success. Largely depends on where, and what franchise. What are you looking at? Send me an email at info@tariqjohnson.com
Are royalties tax write-offs, therefore eventually made up in business tax savings? Super new to franchising, trying to make sense of the big picture. Thanks,
I have came across a bran new business that opened this February 2021 and is so good and unique that I want in. I did ask a manager if they had another location and she said "not yet but is highly probable in the near future!" I feel this is the prime time to get on board and have no idea how to approach the owner nor do I have franchise experience. I have been watching your videos and have learned more then expected! How would you handle the first step for a bran new company?
For a guy that says he doesn’t give people BS and that he cuts to the chase, he sure is BS’ing a lot and makes me wait nearly 3 minutes before he gets to the point and talks about the subject at hand! Two thumbs down from me! 👎👎
Thanks for the feedback. You can also skip ahead, or watch the video on 1.5x speed. I hope you have a great day, and excited to see your videos when you put them up! 😉
