should you franchise or get investors this is a common question I get asked by
this is a common question I get asked by
this is a common question I get asked by entrepreneurs who are trying to expand
entrepreneurs who are trying to expand
entrepreneurs who are trying to expand right you you’ve you built your business
right you you’ve you built your business
right you you’ve you built your business up to a certain degree and now you want
up to a certain degree and now you want
up to a certain degree and now you want to expand it and you need help and you
to expand it and you need help and you
to expand it and you need help and you don’t have the capital to do it so
don’t have the capital to do it so
don’t have the capital to do it so you’re looking at either franchising it
you’re looking at either franchising it
you’re looking at either franchising it out and that’s where you own all your
out and that’s where you own all your
out and that’s where you own all your business but you are selling the rights
business but you are selling the rights
business but you are selling the rights and the training and the system to other
and the training and the system to other
and the training and the system to other people or you bring on investors to help
people or you bring on investors to help
people or you bring on investors to help you grow this business up I’m going to
you grow this business up I’m going to
you grow this business up I’m going to answer this question with contacts from
answer this question with contacts from
answer this question with contacts from one of my face book readers love you
one of my face book readers love you
one of my face book readers love you guys John who wrote in John has been a
guys John who wrote in John has been a
guys John who wrote in John has been a notch work for 25 years John’s based in
notch work for 25 years John’s based in
notch work for 25 years John’s based in New Jersey is 52 years old he’s got a
New Jersey is 52 years old he’s got a
New Jersey is 52 years old he’s got a pizzeria he says he’s got this new idea
pizzeria he says he’s got this new idea
pizzeria he says he’s got this new idea to expand his pizzeria and two new
to expand his pizzeria and two new
to expand his pizzeria and two new niches that nobody else has done before
niches that nobody else has done before
niches that nobody else has done before and he wants to go big he wants to take
and he wants to go big he wants to take
and he wants to go big he wants to take a nationwide he doesn’t have the capital
a nationwide he doesn’t have the capital
a nationwide he doesn’t have the capital to do it he hasn’t launched it yet
to do it he hasn’t launched it yet
to do it he hasn’t launched it yet because he doesn’t want people to steal
because he doesn’t want people to steal
because he doesn’t want people to steal his ideas because there’s only one man
his ideas because there’s only one man
his ideas because there’s only one man show and he doesn’t know which way to go
show and he doesn’t know which way to go
show and he doesn’t know which way to go he’s talking to investors but it’s not
he’s talking to investors but it’s not
he’s talking to investors but it’s not sure if you should do investors or if
sure if you should do investors or if
sure if you should do investors or if you should go with the franchising room
you should go with the franchising room
you should go with the franchising room so let me answer this with that context
so let me answer this with that context
so let me answer this with that context okay John first of all to franchise you
okay John first of all to franchise you
okay John first of all to franchise you have to have something that works people
have to have something that works people
have to have something that works people buy into a system so I don’t know how
buy into a system so I don’t know how
buy into a system so I don’t know how while your pizza we is doing right now
while your pizza we is doing right now
while your pizza we is doing right now but you are basically selling this
but you are basically selling this
but you are basically selling this concept there’s new concept for it to
concept there’s new concept for it to
concept there’s new concept for it to work you have to show that your system
work you have to show that your system
work you have to show that your system works you’ve got to launch it in your
works you’ve got to launch it in your
works you’ve got to launch it in your store and show that it has proven
store and show that it has proven
store and show that it has proven results because you won’t have to be the
results because you won’t have to be the
results because you won’t have to be the best or people going to come to you for
best or people going to come to you for
best or people going to come to you for training if you haven’t launched it yet
training if you haven’t launched it yet
training if you haven’t launched it yet you don’t know how it works you don’t
you don’t know how it works you don’t
you don’t know how it works you don’t know what the numbers are people can’t
know what the numbers are people can’t
know what the numbers are people can’t buy into that right you have projections
buy into that right you have projections
buy into that right you have projections but that doesn’t mean anything the best
but that doesn’t mean anything the best
but that doesn’t mean anything the best and most successful franchises are the
and most successful franchises are the
and most successful franchises are the ones who have a with high degree of
ones who have a with high degree of
ones who have a with high degree of certainty here’s how much money you’re
certainty here’s how much money you’re
certainty here’s how much money you’re going to make in this location
going to make in this location
going to make in this location franchising is typically the faster way
franchising is typically the faster way
franchising is typically the faster way to grow you want to take this big you
to grow you want to take this big you
to grow you want to take this big you want to take this nationwide franchising
want to take this nationwide franchising
want to take this nationwide franchising lets you get there because people are
lets you get there because people are
lets you get there because people are paying you for the rights to open up
paying you for the rights to open up
paying you for the rights to open up locations you want complete control of
locations you want complete control of
locations you want complete control of business but you have all these kind of
business but you have all these kind of
business but you have all these kind of independent people who are around the
independent people who are around the
independent people who are around the country running this it’s fast because
country running this it’s fast because
country running this it’s fast because they’re paying into it if you go own or
they’re paying into it if you go own or
they’re paying into it if you go own or operate and you get investors involved
operate and you get investors involved
operate and you get investors involved you have more say because you actually
you have more say because you actually
you have more say because you actually own each store but you have the
own each store but you have the
own each store but you have the challenge of bringing on partners who
challenge of bringing on partners who
challenge of bringing on partners who you not have to work with instead of you
you not have to work with instead of you
you not have to work with instead of you owning everything and you have the
owning everything and you have the
owning everything and you have the challenge of slower growth because you
challenge of slower growth because you
challenge of slower growth because you have to open one store at a time now
have to open one store at a time now
have to open one store at a time now both methods can work if you look at two
both methods can work if you look at two
both methods can work if you look at two of the biggest systems in the world
of the biggest systems in the world
of the biggest systems in the world you’ve got starbucks and mcdonald’s
you’ve got starbucks and mcdonald’s
you’ve got starbucks and mcdonald’s we’re starbucks everything is run by the
we’re starbucks everything is run by the
we’re starbucks everything is run by the store you can’t buy starbucks franchise
store you can’t buy starbucks franchise
store you can’t buy starbucks franchise and mcdonald’s is the opposite they’re
and mcdonald’s is the opposite they’re
and mcdonald’s is the opposite they’re all franchise if they have their
all franchise if they have their
all franchise if they have their training university you learn about
training university you learn about
training university you learn about making hamburgers and running a
making hamburgers and running a
making hamburgers and running a restaurant but it’s all franchisees so
restaurant but it’s all franchisees so
restaurant but it’s all franchisees so it comes down to one what kind of
it comes down to one what kind of
it comes down to one what kind of business do you want to run because i’ve
business do you want to run because i’ve
business do you want to run because i’ve had a lot of successful entrepreneur
had a lot of successful entrepreneur
had a lot of successful entrepreneur friends of mine who have gone the
friends of mine who have gone the
friends of mine who have gone the franchising route and your business now
franchising route and your business now
franchising route and your business now becomes working with franchisees and
becomes working with franchisees and
becomes working with franchisees and training them instead of working with
training them instead of working with
training them instead of working with the customer so most of your time is
the customer so most of your time is
the customer so most of your time is spent talking to your franchisees and
spent talking to your franchisees and
spent talking to your franchisees and recruiting them and training them and a
recruiting them and training them and a
recruiting them and training them and a lot of the entrence have gone down that
lot of the entrence have gone down that
lot of the entrence have gone down that road they don’t like it they want to be
road they don’t like it they want to be
road they don’t like it they want to be customer facing so there’s not the kind
customer facing so there’s not the kind
customer facing so there’s not the kind of business that you want to run or not
of business that you want to run or not
of business that you want to run or not okay second how fast you want to grow
okay second how fast you want to grow
okay second how fast you want to grow because if you want to get this going
because if you want to get this going
because if you want to get this going quicker franchise and we’ll get you
quicker franchise and we’ll get you
quicker franchise and we’ll get you there faster because you don’t need as
there faster because you don’t need as
there faster because you don’t need as much of your own capital from investors
much of your own capital from investors
much of your own capital from investors and from yourself people will supply the
and from yourself people will supply the
and from yourself people will supply the capital you have to show you have a
capital you have to show you have a
capital you have to show you have a working model people will supply the
working model people will supply the
working model people will supply the capital the third one is do you want to
capital the third one is do you want to
capital the third one is do you want to work with investors or not do you want
work with investors or not do you want
work with investors or not do you want to have partners on board you know you
to have partners on board you know you
to have partners on board you know you don’t know I don’t know how much you’re
don’t know I don’t know how much you’re
don’t know I don’t know how much you’re asking for I don’t know much they’re
asking for I don’t know much they’re
asking for I don’t know much they’re going to take as a percentage of your
going to take as a percentage of your
going to take as a percentage of your business but you know can you work with
business but you know can you work with
business but you know can you work with a business partner do you want that or
a business partner do you want that or
a business partner do you want that or not so both models can work hopefully
not so both models can work hopefully
not so both models can work hopefully help give you a little bit of clarity it
help give you a little bit of clarity it
help give you a little bit of clarity it comes down to
comes down to
comes down to kind of business do you want to run and
kind of business do you want to run and
kind of business do you want to run and how it you want to grow that will help
how it you want to grow that will help
how it you want to grow that will help decide which model to take good luck and
decide which model to take good luck and
decide which model to take good luck and believe and keep me posted with your
believe and keep me posted with your
believe and keep me posted with your progress for those you watching like the
progress for those you watching like the
progress for those you watching like the video please give it a thumbs up below
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leave a comment I’ll make a video response subscribe to the channel if you
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