How Franchising Works : Mcdonalds Franchise Example
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- Опубликовано: 24 июл 2024
- Want to know How Franchising Works? This video explains franchising in an easy way using the McDonalds franchise as the example.
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Start a business
Own my own business
Start a business with no money
Career transition
quit my job 2021
career transition 2021
Start a business 2021
Become an entrepreneur 2021
When to quit your job
Leave your job
work for yourself
gary vee
#franchise #entrepreneur #startabusiness
![How to Franchise Your Business [7 Steps]](http://i.ytimg.com/vi/MaOR1nbcTW4/mqdefault.jpg)
![How to Franchise Your Business [7 Steps]](/img/tr.png)
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I couldn’t sleep but I’ve been up all night thinking about the future so I came here. I still haven’t started high school but I want my parents to not worry about me when I’m on my own.
Wow- awesome! Good for you being young thinking about your future. Keep envisioning yourself living the life you want. There is power in thoughts. Keep watching videos like this and reading business books. Surround yourself with people that have succeeded in life and business- you will find your way.
Get yourself a degree that earns you a stable job, and start building your dream from there. I have seen younger people try different things to "get rich quick" like BITCOIN, RUclipsr... But the point is, everything has risks. The more net worth you have, the less risks you have. Is it riskier to raise your net worth from $1M to $2M, or from $10K to $2M, in the same amount of years?
So, get a stable 9-5 job and start from there. If you want to be an entrepreneur, best degree is Engineering, because the top 10 companies in the world are engineering related.
The fact that you are so young thinking about the future should tell you that you will be successful in life. Find a mentor that is already successful and learn things that even colleges cannot teach.
I Love It My Advice Is Stay In The Library I Read Up On Passive And Residual Income All The Answers To Success Are In The Library
Fuck What That Other Guy Saying A Trade Is Better Than A Degree Open A Credit Union The Better Than Banks And Boost Credit Score
Great video, very informative, detailed and elaborated. Thanks a lot mate!
Amazing content thank you
Watching this 2 years later. Great video! Your hands are huge
Hey, thanks!
Thank you for the information, just found your page and I like the real life perspective you give 💯 I greatly appreciate it
My pleasure Corey.
You made me feel at ease about owning a franchise. Thank you for sharing your time and information
Perfectly explained and simplified this is so clear to understand you have really pumped knowledge to my head thanks.
8:53
I love the simplicity of explaining this to me. Better than all the readings and other videos thus far. Many thanks @TariqJohnson
Score! My pleasure
Well, you explained franchise better than my textbook - so I guess that's a win. Thanks a lot :) !
Lol! Hopefully it helped you ace the test 😉
Facts
Fact
I loved this information
Thank you
My pleasure
Thanks for all the info you're providing in regards to franchises. New subscriber here!
Thanks and welcome!
Tariq is hosting a FREE online event, go register at dreamlifemastery.com/
Very informative. Thanks for posting.
Glad it was helpful!
I enjoyed your video a small businesses and I'm a franchisee owner with a commercial cleaning franchise, and my main favorite franchise brands are the Marriott, 711 and Chick-fil-A like how you explain what is a franchise and your video provide a lot of information for the people out there that don't know what franchise it is or how it works very good video keep up the good work.
Thanks for the feedback Donte. Shoot me an email , would love to hear more about how you got into franchising and how it's going for you. info@tariqjohnson.com
excellent content! thank you
You're very welcome!
Hi! New subscriber! Literally just sent a franchise application and came to RUclips to educate myself. You were the first video I watched! Thank you for valuable information
Welcome Julie! Glad you enjoyed it. Make sure to check out the LIVE masterclass I’m doing tomorrow.
You sent the application before some type of due diligence? Just curious how that turned out.
hey, did you actually end up owning a franchise? if yes, how is it going? any advice for someone like me who is looking to get into Frenchise business?
Thanks for taking ur time to explain this.... U have made it very easy to understand 💯
My pleasure.
Hi Tariq, thanks for your profound explaination. Grateful.
With love Jonas from Zambia
My pleasure!
Hi Tariq great job this is brilliant explanatory video on franchising
Thanks Rod!
Hello Tariq, good job. Thank you for sharing your insights.
My pleasure
Excellet Tariq! I like the way you have said it all! Good!
Thanks!
You made me learn a lot about franchise. You're explaining was beautiful and so simple to comprehend . I would like to thank you for the efforts you've made into making this informal video ❤
My favorite franchise brand is Adam & Eve. : ) I'm watching your RUclips channel to learn more about exploring the opportunity to potentially become a franchisee for this brand. Good stuff. Thanks!
Wow! you explained very well and understandable way. Thank you very much.
My pleasure.
Beautifully explained! Keep it up!
Thank you!! 😀
@Tariq, good and informative video! I am just getting into this world and these basics really helped!
Glad you like it! I have LOTS of videos on franchising...and doing a free training on RUclips live, make sure you have your notifications on!
😊
Ok you video was very informative and I didn't get to watch all of it but I'll be bk to watch it all
Glad you like it.
I love all this info brother..
Awesome! Thanks for watching.
Thanks bigtime Tariq. This video was valuable
My pleasure, glad it helped!
Thank You!
You're welcome!
You explained the concept very well. Thanks
You’re welcome!
This explained Franchises very well to me, thank you for the education and the simple explnations that you provided here in this video.
You're very welcome! Glad you found it helpful.
amzing vry good.the way presented the info.
Tariq u r so good! U explain so well, so simply. I feel so motivated. From South Africa
Thank you!
Great information
Thanks 🙂
Tysm you explained it in such a simple way
Thanks
Very informative and informative 🤫🤔💯
Glad you think so!
Great video. Thanks Tariq!
We hope if u make some videos about franchising models and how to franchise your business!
Wonderful Intellect! Very Impressed!
Well, thank you!
Great content! Thank you for simplifying this international market entry strategy for me.
Thank you!
You’re welcome!
I loved this content ❤ thanks a lot😊
Glad you enjoyed it!
Thanks for guide and mind opener about franchise
My pleasure
just supporting the channel
Appreciate that man.
Great Video
Thanks!
I am just 17Y old and I thought about franchises and I love business & investing , hope in future I can make my dreams come true .
I’m rooting for you!
I just found this channel and IT. IS. AMAZING. You are soooo knowledgeable and easy to listen to and follow. I may have missed this, but do you have a video discussing or can you tell me what Franchisors are looking for (in general) when they are deciding to say yes. Like are they going to be digging into my credit history, debts, etc? Would they say no due to high student loans even with an excellent credit score? Are they looking for you to have ZERO debt? What are some reasons they may deny you?
Hey thanks Ruby!
Franchisors look at many things , but meeting their liquid/ net worth requirements are typically the first.
You will definitely need to fill out an application and a personal financial statement. Most franchisors will also run credit.
Typically as long as you meet their net worth requirements and have the down payment for an SBA loan, you can can get approved by the franchisor.
Thank you Tariq. This is a great summary of the basics of considering creating a franchise opportunity with my own business. I believe it is promising, purposeful and possible for me to do it.
Sweet! Check this podcast episode out on franchising your biz. ruclips.net/video/fj_IKImJMKg/видео.html
Thanks million bro
You're welcome!
Great video thanks. I’m going to read your seven steps book soon. Just found out about it. What are the limits if any that a franchise system can impose on franchisees?
Hope you enjoyed the blueprint. There are many limits- all would be listed in the FDD.
@@TariqJohnson What is the FDD?
Thank you. I hope to pass my APC board course with this information 🙏.
What?! Awesome!
Amazing video
Thanks!
@@TariqJohnson 🐐
Good explanation
Thanks
Thank you
You’re welcome
informative content
Thank you.
sometimes all we need is someone explaining this things in simple clear words. now I understand how franchise works. my favourite is KFC cause its more popular in my country Nigeria and other African countries. thanks a lot.
Happy to help! Thanks for watching
Good thanks
You're welcome!
Didn't know Marriot was a franchise . Ty for the video lesson.
A lot of people doubt me and what I want to do but it is possible. Working from food truck is good just not my route.
Good video.
Thanks!
I know this is 2 years ago... But this helps a lot because my husband and I want to open a mcdonalds and other franchise
Glad it helped. McDonald’s will be a tough one.
thanks man understand a lot
Happy to help
im running Business in Dar es Salaam,Tanzania🇹🇿 i Build Brand for almost 6 yrs Thank You for education im about to go to franchise 🔥🔥
Great! Congrats!
I've def been thinking about this w an old abandoned Dairy Barn by my house. My neighborhood could use something there. I'm in NY. Thanks for info.
Awesome, go for it!
sir your video is so educative.my husband and I wish to set up a franchise restaurant.I need your guide on this.Thank you sir.
Thanks.
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 info@tariqjohnson.com and I’ll reply with the link to book directly on my calendar.
Thank you i got my all answers 🙂
Great!
😅😊 you really saved me wow! You explain better than my teacher does
Boom!
I’m 16 years old, and still in High school if you were in my shoes what do you wish you did differently? Any pointers you could give. I’m interested in becoming a franchisee, but don’t know where to start.
Tariq Thank you so much for your videos. My 2 favorite franchise 5 guys and panera.In your experience which one is more profitable andLess expensive to start? What was your 1st franchise?
Thank you again and God-bless
Love 5 guys. I also enjoy Panera.
Those are 2 franchise concepts that don't do single location deals, and you typically need millions or access to millions and sign a deal to open up multiple units. These are not accessible concepts for the average individual looking to buy a franchise.
As an example- 5 guys requires prospective franchisees to have access to $5million in capital. 😳
Thanks for explaining, What do you suggest is a good franchise to open now and how much should one start with?
All depends on you, your goals, your background etc. There is no one size fits all.
So my brother and I drive an hour south regularly to Weirton West Virginia to a Tudors biscuit word, we want to open one in out town. A McDonald’s store closed about 7 yrs ago and a friend of mine they purchased the building and is looking for a business to move in. We are currently working some sort of agreements to start the process of getting tudors to meet with us.
my favorite franchise brand is Red Robin...not sure how much more these are compared to fast food, but I'm interested in learn more about this. Do you have any videos on Restaurant franchises like Red Robin / Olive Garden / BJ's? ..thanks
Red Robin is likely very, very expensive to own. Overall I'm not a fan of food franchises- so no videos on them. Olive Garden is corporate.
I just subscribed.
Welcome aboard!
Great video and super simple and informative. I am a teacher and have been covering this for years. Do you have any information on how population effects whether or not a franchise will be successful? For example, how large should be a town be to support a McDonald's? Thanks.
Not a specific on that topic. But I talk about market demand here ruclips.net/user/livezGsz9xzyH50?si=GVFax2oIg275M09k
I have a business, looking at getting into franchising it. Doing research for now
This video will help ruclips.net/video/fj_IKImJMKg/видео.html
Hello new to your channel love it so my question is how do you get funding for a franchise thats not a majorly known brand they are real big in PA multiple locations want it here for Nashville TN
Depends on the funding route you are choosing. For SBA the business tends to need to be on their approved list. Many other ways to fund a business. Watch this video. ruclips.net/video/zDUBPWn7WqQ/видео.html
Great video.
I am interested in opening an American Eagle franchise, do you have any information in regard to the clothing industry. Thank you
Watched this in 2024. Very informative. Thank you.
Gotta say I love 5 guys as well
🔥
I’m trying to learn about owning a restaurant because I have a brilliant idea for a restaurant and need help getting it started.
Restaurant business is a tough business.
Great video . Your hands are massive
Banana hands!
You explained it so easily. 😎
Thank you
Does the Franchisor ever pay those startup fees?
My pleasure. In 99% of instances they do not pay the start up costs.
What's your website?
What is impressive when applying for a franchise? What is the most effective way to reach out to franchises? Also a new subscriber!
They have a contact us form on their website. As long as you meet their net worth requirements, they’ll want to talk to you.
Would you be able to do a. Idea on how to start franchising your company for business owners?
That's a great idea- yes I will.
I love Wiener schnitzel. I'm from San Diego and recently moved to MO. The type of food here is really basic. I would think this chain would do well.
Sweet, are you going to open one?
Thanks mr. Tariq. I been looking information such as this and found ur youtube. I was looking at Mcdonald business model and thinking opening at my town. May i know roughly how many percent net profit does franchisee make in a year.
Hi Leonard. McDonald’s are very expensive to open. Are you prepared to make a $2million investment?
To answer your question, the net profit varies from location to location, and how mature the specific location is. With that said, food franchises typically have a 10-20% net profit. That of course depends on your financing and cost of capital.
I’d recommend watching this video which will answer many of your questions. ruclips.net/video/ZF2UytWAvcQ/видео.html
Can you use a sba loan to start a franchise or you you need personal money ?
What do franchisees do on a day to day bases? What are they doing daily to run their franchise?
Depends on the franchisee, how mature their franchise is, what industry they are in, etc.
Very informative thank you. 14:04
Glad it was helpful!
Hi! My favorite franchise is McDonald.
Also my father would like to start a business by launching a Burger King near Brussels with a budget under 70.000 euros. How should he approach this? And thank you for the videos, they are very usefull and put an idea how a franchise works! New subscriber here!
Has he reached out to burger king? They may have higher financial requirements.
@@TariqJohnson I was thinking the same with that amount he can buy shares in macdonalds
@@sko1beer id rather do a gas station mcdonalds too much for me n they ways and burger king too ]
@@sassyd8738 my wife’s family use to own a petrol station the profit margins on selling fuel is very small it only takes one runner and you are making nothing.
You really need to sell a lot in the shop for profits it’s all about the sells in drinks and snacks👍
How do you go about deciding which franchise to choose? I’m pretty sure city/location plays a part in what Franchise to start..
I just made a video on that! ruclips.net/user/liveqwkw8h3iMyk
Do Franchisors require lot of prerequisites to accept you … like a resume I mean and list of qualifications or it’s just a training they give?
It’s more about a process than prerequisites. Some ask for a resume and some don’t. They generally want a candidate with certain skillsets but not necessarily “qualifications”. If you meet the net worth requirement and are fairly intelligent, and reasonable you should be good.
One factor is you need to plan to run the business how they want- if you plan to be semi-absentee and they want owner operator, you may not be approved.
Hi ... just to clarify one thing ... when you take a franchise , say dominos , can the franchisee order the raw materials from his local suppliers ? Does that local suppliers also get instructions from the franchisor on preparing those?
Depends on the franchise.
Hello
If you want to bring the franchise to another country where the franchise is still not available how do you go about it? And which office do you contact? Is it the head office of the nearest country that has the franchise?
Depends on the franchise. Submit your info on the franchise website- once you speak to someone with the company they should be able to direct you accordingly.
Hey Tariq, I have one question for owing a franchise by myself. If I want to buy a existing franchise which has been placed already and we want to take a ownership of that franchise company how does that works? For example we have Dominos franchise which is running from last 15 years and now they want to sell the stores and I want to buy that store. What are the key factors which I have to remember and how does the money structure works?
Good question. Not a simple answer, certainly not in YT comments.
Here are some resources
#1 Video on resale franchises ruclips.net/video/A-cF9avwG7I/видео.html
#2 www.tariqjohnson.com/post/franchise-overall-steps-when-looking-at-re-sales
GREAT
😀
What’s the best way to raise the initial upfront money?
do I need to pay for the land and the store if I'm a franchisee
Is there any reason why a franchiser would cut ties with the franchise ? Like if the business isn't being very profitable for example?
hey,
The reason i watched your video was because my plan is to make a franchise business of my detailing business. what m not so sure about yet is what rules and regulations can we set in terms of safety for the franchisor. for example if a franchisor is getting 10% of the sale as a royality fee. whats the garantee that the franchise will actually get paid by Cash and just put it directly in his pocket. what kind of terms and conditions it should be in this agreement to have that for efficient
All sales would be run through the POS. You need to talk to a franchise attorney about how to structure a legal agreement.