What I don't understand is if the systems are so great that anyone with any executive background can follow the system and make a lot of money why don't established franchises just hire managers and keep all that money for themselves? I particularly wonder about franchises that allow absentee owners. If all you have to do is sign a check and the money will start rolling in slowly but surely why doesn't the franchisee get a loan, start a new location and keep the profit? I can understand it for new companies that lack funding, however there goes brand recognition. As a consumer it is hard to tell the difference between a franchisee of a new company and a newly started local businesses. In both cases it is a brand name you have never heard of. Many companies franchise so their must be some reason. I hope it isn't just that they are looking for suckers (like Steak 'n Shake). Other than passing off risk I don't see what the franchisee gets out of it other than less money.
Great questions! And you are right many franchises suggest it is easier than it actually is to operate the business. That is the main reason we developed a process that matches a persons skills, background, operational preferences and demographics to a franchise, and identifies if they are likely to fail. Why do franchises not just grow internally? A number of reasons, including that franchising allows them to expand more quickly and leverage talent that has "skin in the game". An owner with $300k invested will give much better performance than a employee/manager. Also, deploying $300k+ per location can be excessive and slow growth for most new franchise, vs just selling master licensing and single franchise locations. Unfortunately, it has left a huge opportunity open for bad franchises to sell hundreds of locations to "suckers" as you suggest. The magic happens when a good franchise,aligns with a skilled operator, in a good location. Thx for the question!
I like how you've moved from the office to the basement. More relaxed. I'm sure you could get away with drinking a scotch on ice, cubes clinking against the glass, throughout the video.
My opinion before watching this video is this, both franchises and business start ups have it's benefits. I feel if you're skilled at making a business profitable and able to scale it then a franchise might be your best bet because you'll have the supplies ( name, location, already established reputation). If you're an original thinker/innovator with skill to make a business scalable and profitable, then starting a business might be your best bet because you bring your own uniqueness to the table.
To be honest I would say study and start with a good Franchise because it can help you learn about running a Business for the first time. if you want to open a gaming Business, well buy a gaming Franchise that is good and learn to form them, then start up your own Gaming Business like that over time. your making money with you owns a Franchise ever week or two .
Thanks for the request! We have a video in the works showing that there is no ideal "veterans" franchise, but only franchises best for an individuals goals, location, market demand, operational preferences etc. Don't buy into the story that somehow any one franchise is great for veterans - its just marketing hype! We do have two very talented people on our team that used to go directly to army bases around the country and worked with veterans helping them find businesses for many years - they are available remotely anytime and at no charge. Here is how our service works www.franchise.city/our-services
Great question! Typically there is little to no recourse. A "good" franchise however will want individual franchisees to be happy and successful so will pass savings onto the owners. A "bad" franchise may try to gouge their franchisees but in most cases it hurts the system overall in multiple ways. Our most recent video covers that situation where a franchise company made half of all their profits by selling franchisees overpriced fitness equipment. th-cam.com/video/62O0ZIx27j8/w-d-xo.html
@@FranchiseCityOnline thank for answer , I sold businesses for only one month long time ago , as a gift for your children , my mother was a one of the last Majesty of Iran that oil find in our land and we brought democracy I have money and some time, I like to buy passive or semi passive business or hire some one to teach me to sell at amazon or make articles or video on you tube or other social media
@@azymodares4672 Thank you. If you are in the USA we can assist with identifying a passive franchise business www.franchise.city/our-services . In regards to creating articles / video or selling on Amazon there are many excellent resources here on TH-cam that cover best practices.
Great video again, I want to invest in this course I’ve been seeing on Facebook and TH-cam called Business Lending Blueprint, it’s a course that shows you how to start your own business loan broker business , would you know if this is legit ?
Thank you very much for all the informative videos!! I’ve owned few restaurants and still owning one, but I’m trying to go over to senior care business which I have Zero experience.. would love to see more videos about senior cares and other service franchise pros and cons.. 🙏
Thank you! Videos don't uncover the most important elements, which are your own skills and operational preferences and how they relate to the business. Also your local demographic and market demand. Our (free) service does and can predict your performance in that type of business environment. www.franchise.city/our-services
Is there any way I can franchise if I been in restaurant business for 3 years now doubled up in profits each year. Would it be smart to buy another building to operate another or invest in a franchise??
Many variables to consider and success has been found both ways - Chipotle and Panda Express - both non-franchise Corporately owned. You need to examine your financial resources, long term goals, capabilities and operational preferences. Franchising is not cheap, and not easy , and the market particularly for food is quite competitive. Our video on the subject is here: th-cam.com/video/PpVb1xvm5vY/w-d-xo.html Thanks for visiting.
Have you heard of Core Life Eatery? upstate New York. Check em out. Old Brooklyn Street School of Business: "better to make a quick nickel then a slow dime"
BurgerIM would be an interesting franchise to make a on because it's a smaller, less known chain and u could talk about the kind of path they're on and compare them to other franchise's that were once in burgerim's situation.. whether those franchises failed or flourished
Do you mind discussing Technology based franchises? I’m looking into some as my background is in computer science but my goal is to have my own technology based business. Thanks, I love your videos and content.
Thanks! Why not give us a call? We can provide you with free industry reports and skills assessments specific to your situation and market demand. www.franchise.city/our-services Many technology franchises require high levels of sales efforts. While you are providing tech services, you first need to acquire the accounts. B2B sales is often the primary operational requirement of the business.
Thanks for the question - A lot depends on location, business goals , local demand etc. There are other brands with potentially higher AUV's but again if there is a gap in your market it might be the best choice.
We would need to know your goals and budget first, here are details for our immigration investment program: www.franchise.city/e2-visa Thank you for visiting!
Great video! Very informative and detailed advice on franchising! The success road map you mention is key to having a successful franchise! Taking a step back to analyze your business and tweak the model is what can pave the way to your franchising success story. I have a lot of info on this if you ever want to check it out! Awesome content. Can't wait to watch more :)
Hey Brian! Thanks for visiting the channel. I've been subbed to your channel for ages - great content! Gotta get you on for an interview one day would love to share your story with our viewers.
Creating a business model isn’t simply about completing your business plan or determining which products to pursue. It’s about mapping out how you will create ongoing value for your customers.
I have credit score 850 + 00 Debts 100 % paid 2 mortgages Cash money about $8K. ( since just finish paying off my mortgages 1 month ago.) And yet I do not qualify...
@@acapulco1231 Taco Time? It doesnt scare you how many stores they are closing?? Anyway.....Every franchise has a series of requirements including liquid capital, net worth, credit score etc. If you have only $8K in liquid capital there are very few brick and mortar options available. That's a $200,000+ investment you should have at least $60k liquid if not more. You might qualify for service based franchises which can actually be equally profitable to retail. Any reason you didnt call Franchise City?
@@FranchiseCityOnline Thank You for responding. Actually your are 100% correct. I will not buy any franchise at all. My industry has always been trucking 30 years now.... it's just that because of ELD ( electronic log book ) My paycheck is going to cut by 35%. Now I need to drive team un my dedicated lane UT 2 CA. I will have to become a freight broker... and sell my trucking company. Thank You.
![Owning a Franchise | 5 Things You Must Know [Franchise Owner Reveals]](http://i.ytimg.com/vi/UAv3wyFoxT8/mqdefault.jpg)
What I don't understand is if the systems are so great that anyone with any executive background can follow the system and make a lot of money why don't established franchises just hire managers and keep all that money for themselves?
I particularly wonder about franchises that allow absentee owners.
If all you have to do is sign a check and the money will start rolling in slowly but surely why doesn't the franchisee get a loan, start a new location and keep the profit?
I can understand it for new companies that lack funding, however there goes brand recognition. As a consumer it is hard to tell the difference between a franchisee of a new company and a newly started local businesses. In both cases it is a brand name you have never heard of.
Many companies franchise so their must be some reason. I hope it isn't just that they are looking for suckers (like Steak 'n Shake). Other than passing off risk I don't see what the franchisee gets out of it other than less money.
Great questions! And you are right many franchises suggest it is easier than it actually is to operate the business. That is the main reason we developed a process that matches a persons skills, background, operational preferences and demographics to a franchise, and identifies if they are likely to fail. Why do franchises not just grow internally? A number of reasons, including that franchising allows them to expand more quickly and leverage talent that has "skin in the game". An owner with $300k invested will give much better performance than a employee/manager. Also, deploying $300k+ per location can be excessive and slow growth for most new franchise, vs just selling master licensing and single franchise locations. Unfortunately, it has left a huge opportunity open for bad franchises to sell hundreds of locations to "suckers" as you suggest. The magic happens when a good franchise,aligns with a skilled operator, in a good location. Thx for the question!
They do. they just call the managers "owners". They make all the money and avoid the risk because the "owner" has agreed to accept that deal.
You make more with franchises with fees. You forget growth & assets the companies gain. It’s a model to hire people to expand the company.
can you break down bubbles tea franchise?
I like how you've moved from the office to the basement. More relaxed. I'm sure you could get away with drinking a scotch on ice, cubes clinking against the glass, throughout the video.
Lol!! (excellent idea btw)
My opinion before watching this video is this, both franchises and business start ups have it's benefits. I feel if you're skilled at making a business profitable and able to scale it then a franchise might be your best bet because you'll have the supplies ( name, location, already established reputation). If you're an original thinker/innovator with skill to make a business scalable and profitable, then starting a business might be your best bet because you bring your own uniqueness to the table.
To be honest I would say study and start with a good Franchise because it can help you learn about running a Business for the first time. if you want to open a gaming Business, well buy a gaming Franchise that is good and learn to form them, then start up your own Gaming Business like that over time. your making money with you owns a Franchise ever week or two .
One of the best TH-cam channels ever. So informative and detailed there is no other channel like this
Thank you - the feedback is appreciated!
All your videos are Great.Can you do one on the opurtunities veterans may have in buying a franchise....Thanx ,i would Apreciate it... God Bless✔
Thanks for the request! We have a video in the works showing that there is no ideal "veterans" franchise, but only franchises best for an individuals goals, location, market demand, operational preferences etc. Don't buy into the story that somehow any one franchise is great for veterans - its just marketing hype! We do have two very talented people on our team that used to go directly to army bases around the country and worked with veterans helping them find businesses for many years - they are available remotely anytime and at no charge. Here is how our service works www.franchise.city/our-services
Thank you for the advise I’ll be sure to keep everything in mind when I can begin my ventures into business 👍🏻🙂
Thanks for visiting!
Real stuff no chit chat. Thanks for sharing this video.
Can you do one on Culver's?
Ill add it to the list! Thank you.
what grantee you we have that franchisor do not raise the supply that we have to buy from them any time they want and cut your profit
Great question! Typically there is little to no recourse. A "good" franchise however will want individual franchisees to be happy and successful so will pass savings onto the owners. A "bad" franchise may try to gouge their franchisees but in most cases it hurts the system overall in multiple ways. Our most recent video covers that situation where a franchise company made half of all their profits by selling franchisees overpriced fitness equipment. th-cam.com/video/62O0ZIx27j8/w-d-xo.html
@@FranchiseCityOnline thank for answer , I sold businesses for only one month long time ago , as a gift for your children , my mother was a one of the last Majesty of Iran that oil find in our land and we brought democracy
I have money and some time, I like to buy passive or semi passive business or hire some one to teach me to sell at amazon or make articles or video on you tube or other social media
@@azymodares4672 Thank you. If you are in the USA we can assist with identifying a passive franchise business www.franchise.city/our-services . In regards to creating articles / video or selling on Amazon there are many excellent resources here on TH-cam that cover best practices.
Great video again, I want to invest in this course I’ve been seeing on Facebook and TH-cam called Business Lending Blueprint, it’s a course that shows you how to start your own business loan broker business , would you know if this is legit ?
Great video, thank you 👍
can you break down bubbles tea franchise?
I don’t wanna invest. I want to just by the rights
Ill have 40k how can i invest
Thank you very much for all the informative videos!! I’ve owned few restaurants and still owning one, but I’m trying to go over to senior care business which I have Zero experience.. would love to see more videos about senior cares and other service franchise pros and cons.. 🙏
Thank you! Videos don't uncover the most important elements, which are your own skills and operational preferences and how they relate to the business. Also your local demographic and market demand. Our (free) service does and can predict your performance in that type of business environment. www.franchise.city/our-services
Is there any way I can franchise if I been in restaurant business for 3 years now doubled up in profits each year. Would it be smart to buy another building to operate another or invest in a franchise??
Many variables to consider and success has been found both ways - Chipotle and Panda Express - both non-franchise Corporately owned. You need to examine your financial resources, long term goals, capabilities and operational preferences. Franchising is not cheap, and not easy , and the market particularly for food is quite competitive. Our video on the subject is here: th-cam.com/video/PpVb1xvm5vY/w-d-xo.html Thanks for visiting.
Good Video!! Really like the new background.
Thanks Andy!
Filming this video from his Skyrim home in Windhelm.
Close - Turkish prison actually.
I have 14k for investment I'm from Texas
Buy baseball cards,
Hey. Thanks a lot for this information. I'm in Africa. Please I'll need some tips on opening a franchise in Africa. How do I contact you.
Have you heard of Core Life Eatery? upstate New York. Check em out. Old Brooklyn Street School of Business: "better to make a quick nickel then a slow dime"
Great knowledge and information shared will help executives and employees decide or prepare for their dream of owning a profitable business.
Great video. Thank you 🙏
Thanks Hassan - I'm making up for those lost days :-)
Hi do you think Chem dry Franchise a good investment in ontario. Thanks
BurgerIM would be an interesting franchise to make a on because it's a smaller, less known chain and u could talk about the kind of path they're on and compare them to other franchise's that were once in burgerim's situation.. whether those franchises failed or flourished
This video sounded racist😭
Can you review the cryotherapy industry. Specifically the Icryo market pls? I was always curious about them.
I'll add it to the list. Thanks for watching!
Do you mind discussing Technology based franchises? I’m looking into some as my background is in computer science but my goal is to have my own technology based business. Thanks, I love your videos and content.
Thanks! Why not give us a call? We can provide you with free industry reports and skills assessments specific to your situation and market demand. www.franchise.city/our-services Many technology franchises require high levels of sales efforts. While you are providing tech services, you first need to acquire the accounts. B2B sales is often the primary operational requirement of the business.
Should I buy wingstop franchise if I have restaurant experience?
Thanks for the question - A lot depends on location, business goals , local demand etc. There are other brands with potentially higher AUV's but again if there is a gap in your market it might be the best choice.
Franchise City how can I get more info? Weichuan brand that has better AUV?
Hey! I'm from Pakistan and I am thinking to shift to America. Can you tell me what is the best Frenchie to open????
We would need to know your goals and budget first, here are details for our immigration investment program: www.franchise.city/e2-visa Thank you for visiting!
7/11
Is it possible to take out a loan to purchase a franchise
Yes, but there will be an up front liquid asset cost and often a net worth threshold.
Like your videos, when are you going to do one for sweet frog?
Thanks! we will be doing a general froyo video in the next month, will also look at SF
9:52
Please do a video on el pollo loco
Great idea - thanks!
Great video! Very informative and detailed advice on franchising! The success road map you mention is key to having a successful franchise! Taking a step back to analyze your business and tweak the model is what can pave the way to your franchising success story. I have a lot of info on this if you ever want to check it out! Awesome content. Can't wait to watch more :)
Hey Brian! Thanks for visiting the channel. I've been subbed to your channel for ages - great content! Gotta get you on for an interview one day would love to share your story with our viewers.
Creating a business model isn’t simply about completing your business plan or determining which products to pursue. It’s about mapping out how you will create ongoing value for your customers.
I have credit score 850 +
00 Debts
100 % paid 2 mortgages
Cash money about $8K.
( since just finish paying off my mortgages 1 month ago.)
And yet I do not qualify...
Sorry - qualify for..............?
@@FranchiseCityOnline buying a TacoTime
Which is the most affordable for me at this time.....
@@acapulco1231 Taco Time? It doesnt scare you how many stores they are closing?? Anyway.....Every franchise has a series of requirements including liquid capital, net worth, credit score etc. If you have only $8K in liquid capital there are very few brick and mortar options available. That's a $200,000+ investment you should have at least $60k liquid if not more. You might qualify for service based franchises which can actually be equally profitable to retail. Any reason you didnt call Franchise City?
@@FranchiseCityOnline Thank You for responding. Actually your are 100% correct. I will not buy any franchise at all. My industry has always been trucking 30 years now.... it's just that because of ELD ( electronic log book )
My paycheck is going to cut by 35%. Now I need to drive team un my dedicated lane UT 2 CA. I will have to become a freight broker... and sell my trucking company. Thank You.
@@FranchiseCityOnline I recently discover your TH-cam channel....sorry
Been there. Franchise suck.