TOP Questions to Ask a Franchisor and Franchise Owners!

Рет қаралды 41,553

3 жыл бұрын

What are the top questions to ask a Franchisor? In this video I give you the top franchise questions to ask. I break down questions to ask franchisors, and questions to ask franchise owners. I also breakdown what to look for and franchise questions related to the FDD (Franchise Disclosure Document)
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1. Questions to Ask about the FDD (Franchise Disclosure Document)
2. Questions to ask Franchisors
3. Questions to Ask Franchise Owners (Franchisee)

Пікірлер: 145

@TariqJohnson Ай бұрын

📘 FREE Franchise StarterKit - Zero to Profitable Franchise in Less Than 12 Months: Start fast in the franchising world. Download Now: www.franchiseempire.com/o-ztpf-guide

@jessicawilson7511 Ай бұрын

Do the franchiser supply equipment to begin business?

@neokurgen 10 ай бұрын

Your first bit of advice that I got from this video was "Every franchise HAS to have an FDD,". Found out the company that I was looking into was not an actual franchise even though its listed as a franchise after asking for a copy of the FDD. "We're not an actual franchise." was the response.

@TariqJohnson 9 ай бұрын

Oh wow. That's an important discovery!

@chrisechols22 3 жыл бұрын

Great content! I will be using these questions this week when I meet with franchisees of a business I’m considering. Thanks so much for sharing!

@TariqJohnson 3 жыл бұрын

My pleasure- here are some additional resources for you. www.tariqjohnson.com/blog

@MissAshleyDuBose 2 жыл бұрын

The was sooo helpful. God bless you for taking the time to advise us and share what you know. I’m considering purchasing a pre-existing DQ from a retiring franchisee in a popular mall. I will definitely be following your advice and asking the recommend questions before making my decision. Thanks again!

@TariqJohnson 2 жыл бұрын

Just catching up on comments. It was great talking to Ashley- look forward to our follow up conversation.

@christinakofoed9757 2 жыл бұрын

Thank you! Getting ready to do some validation calls with franchise owners, and this gave me some good question ideas!

@TariqJohnson 2 жыл бұрын

You're welcome. Here are more www.tariqjohnson.com/blog

@daviddiciccoii2483 Жыл бұрын

Thanks Tariq, this is a great video, thanks for sharing with us all. Super valuable!

@TariqJohnson 7 ай бұрын

Glad you got value out of it!

@esthermoleeli4858 8 ай бұрын

Thank you Tarig for the tips, really helpful

@TariqJohnson 7 ай бұрын

Glad it was helpful!!

@eversorto5728 Жыл бұрын

Tariq thank you for the video.I am now 4 weeks into the buying process of a franchise and wish I had found you earlier thanks again for your videos.

@TariqJohnson Жыл бұрын

Better late than never! Go watch this ASAP. www.buyaprofitablefranchise.com/optin-webinar

@jeffw3108 2 жыл бұрын

You are an amazing person! Thank you for all your expertise.

@TariqJohnson 2 жыл бұрын

Thank you for that, and my pleasure!

@nabilarridho 10 ай бұрын

Thank you Tariq for the tips. Really helpful.

@TariqJohnson 9 ай бұрын

My pleasure!

@KatBaumgarten 6 ай бұрын

This was so informative and accessible! Great video!

@TariqJohnson 6 ай бұрын

Thanks for the feedback and glad you got value!

@fisalmoon 2 жыл бұрын

Thanks for the Content

@TariqJohnson 2 жыл бұрын

My pleasure, thanks for watching.

@tmac4jesus Жыл бұрын

I’m two minutes in and know this will be good! 👍🏼

@TariqJohnson 7 ай бұрын

Let's gooo!

@catherinelepetit2796 3 жыл бұрын

Another very helpful video! Especially the profit margin one! I will try it out!

@TariqJohnson 3 жыл бұрын

Awesome! You still talking to the ....coffee business, was it?

@catherinelepetit2796 3 жыл бұрын

@@TariqJohnson Yes! I'm at the Peer Review phase, wish me luck!

@TariqJohnson 3 жыл бұрын

Awesome! Good luck 😀

@TariqJohnson 3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

@markhoffmann7741 3 жыл бұрын

Great vids Tariq - they've been helping as I navigate through the process. What's on your bookshelf in your reading/listening library. I can't make out all the titles?

@TariqJohnson 3 жыл бұрын

Thanks Mark. There’s some Tony Robbins sets, Bob Proctor, Good to Great. That’s maybe 1% of the real book collection 😀

@TariqJohnson 3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

@paigejeha3701 2 жыл бұрын

Hey Tariq, great video! All of your videos are very informative. I have one follow-up question about connecting with current franchise owners. How did you go about finding and contacting current franchise owners? Did you ask the franchisor to connect you or did you simply find them online? Thanks for your help!

@TariqJohnson 2 жыл бұрын

Hey Paige- I responded back to your email.

@user-yu4ij3kb7j 10 ай бұрын

Super helpfull. Im looking at pressure washing franchise.

@TariqJohnson 10 ай бұрын

Glad it was helpful!

@keithmehta2286 Жыл бұрын

This video was very informative and helpful. Any advice on things to consider when looking into a fast food franchise.

@TariqJohnson 7 ай бұрын

Low margins. You'll need to own 3-5 , which is very capital intensive

@vashallakhraj 3 жыл бұрын

Thanks a lot! I am opening a vegan food franchise in South Africa, just struggling to find a venue that is feasible for both parties i.e. the franchisee (us) and the landlords at the moment. Love the videos, keep up the good work!

@TariqJohnson 3 жыл бұрын

Nice! That sounds exciting. What made you get into that Franchise?

@vashallakhraj 3 жыл бұрын

@@TariqJohnson thanks! There is an increase in demand for vegan food in our country and our offering is different and unique to what is already there, mainly healthy vegan eateries. It is essentially gourmet vegan junk food called Lekker Vegan - do check it out. The brand is also very well liked, averaging around 4.7 out of 5 on our food rating services in South Africa and franchises are slowly but surely popping up locally and globally, with demand in Spain recently.

@TariqJohnson 3 жыл бұрын

That’s very cool! Best of luck to you!

@TariqJohnson 3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

@zellybeatzproductionz5708 2 жыл бұрын

Great content

@TariqJohnson 2 жыл бұрын

Thanks

@YET64 3 жыл бұрын

Great presentation.

@TariqJohnson 3 жыл бұрын

Glad you liked it!

@chinwemaduka2430 Жыл бұрын

Very clear and quite detailed.👌 Thank you for sharing.

@646deon 2 жыл бұрын

Hello, I’m new to your channel and I’m working to invest in my first franchise business. I’m hoping it’s a great learning experience, and hoping to learn a lot. Thank you

@TariqJohnson 2 жыл бұрын

Welcome and good luck!

@realestatewithashwin 2 жыл бұрын

This man is solid

@TariqJohnson 2 жыл бұрын

Well thank you 😎

@lisairvin3288 2 жыл бұрын

Thoughts on a business that has just decided to franchise? Limited information on the FDD.

@TariqJohnson 2 жыл бұрын

Eh..depends, I don't have enough info to say definitively. With that said- there are so many great franchises that have a history and track record of successful locations. I'd personally rather go with a franchise with a track record, unless the new concept was really innovative.

@sylvesterlewis9176 3 жыл бұрын

Very informative video, appreciate the work man. I am doing research in few opportunities and wanted to get your opinion. What are your thoughts on buy a franchise that has recently started franchising and have couple corporate stores doing very well business. They’ve already signed agreement with over 20 franchisee within 1 year in various other states in progress of building. The FDD shows good growth in revenue over the past 4 years they’ve been in business. Would really appreciate your response

@TariqJohnson 3 жыл бұрын

Hey Sylvester- overall sounds like the franchise has some great momentum. Without me seeing specifics- like the brand, the average sales, locations pending open, etc...it's impossible to give you a concrete answer. Hit me up at info@tariqjohnson.com if you want to talk specifics.

@TariqJohnson 3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

@garretttaylor7896 Жыл бұрын

I'm pretty interested in getting into a Crumbl Cookie franchise. I love their products, the tone of the brand is awesome, and one of the states they want to expand in is the state I live in. Any recommendations?

@MILSPEC_MEXICAN Жыл бұрын

I work next to one looks fun

@jefry4145 Жыл бұрын

hi Tariq great video it really help me out, cause im planning to open my first business by taking some franchise. I have another question for you, how can I meet the other franchisee of the same franchise that I want to take? because im planning to buy some vending machine business franchise. Thank you so much. Subscribed by the way.

@TariqJohnson 7 ай бұрын

The FDD will list the contact info of all the franchisees.

@melel527 Жыл бұрын

Very good information thank you! May I ask why you’re giving away valuable information for free?

@TariqJohnson 7 ай бұрын

It's fun, and I enjoy it.

@TheRonnyjr 3 ай бұрын

Great video. Thanks for the content. You mentioned that we could get a free question checklist and to goto your website. I don’t see it, this video is three years old so maybe it was there and now taken down. Understandable. Is there a was to still get it? Thanks again for the great content.

@TariqJohnson 3 ай бұрын

Hey Ron, we don’t have the checklist- but there are a few blog articles here that should help www.tariqjohnson.com/blog

@TheRonnyjr 3 ай бұрын

Man thanks for the quick reply. Subscribed to your channel. I just found today. Cheers!

@charlenbregoli4070 2 жыл бұрын

Hi. What question would I ask related to Legal Contract of the frinchise on the frinchisor?

@TariqJohnson 2 жыл бұрын

I don't understand your question.

@maguayo11 Жыл бұрын

Good morning,Tariq. I found your channel because I was look for SBA loan information. You are informative and educational beyond belief. Thank you so much. Tariq, I am a Registered Nurse and I want to learn about franchises businesses within healthcare. Could you please help me with steps on where to start? I live in SWFL area and it is booming growth in this area. I need to take advantage of this opportunity. I have contemplated owning my business for years. I have a few business ideas, but I definitely would like to brainstorm and get your input.

@TariqJohnson 11 ай бұрын

Hey Mairim, happy to hear my content has been helpful for you. Go here (www.tariqjohnson.com/)and download my free Zero to Profitable Franchise Guide...it'll then give you the opportunity to schedule a free call with my team. We'd love to help point you in the right direction if we can.

@abras3479 11 ай бұрын

Hello, I am looking to open McDonald’s franchise in Dar Es Salaam Tanzania. This is going to be the 1st McDonald’s restaurant in the country. What angle should I focus the most to get it approved for Tanzania

@prophetessmichellemckenzie2044 8 ай бұрын

Looking to purchase a painting franchise - what’s your thoughts on those

@TariqJohnson 7 ай бұрын

There are some good pros and some bad cons about it. Book a Call with my team and they will be able to provide you a custom strategy. -> www.buyaprofitablefranchise.com/o-booking

@fip88 2 жыл бұрын

Hi Tariq, great information! I took your advice on "3 Huge Mistakes to Avoid". I am getting the help of a Franchise Consultant. The opportunities that have come up are all in the B2C sector. Due to the nature of the business (e.g., Pool Cleaning and Luxury home painting), I would want to be a semi-absentee owner. With that said, what are some realistic profit margins to expect? If I am not able to do the work myself, I would want to limit (within reason) the number of profits being spent on my workforce. Do you have advice on B2Cs? I am limited to this sector due to my net worth ($150K - $200K).

@TariqJohnson 2 жыл бұрын

B2C's can be a good option to get started. Profit margins range. In the first year, could be $0. Especially launching as a semi absentee. Once the business matures...could be 0-30%. Depends on so many factors. Here's a free masterclass I did that will help you. buyaprofitablefranchise.com/

@TariqJohnson 3 жыл бұрын

Drop me your franchise or business questions below!

@tiffanythunguyen9288 3 жыл бұрын

Thanks for all the great information that you have shared with us. We are interested to buy a franchise from Kungfu Tea. We have hard time to get to the right personnel regarding about this. What your thought on this?

@TariqJohnson 3 жыл бұрын

Hey Tiffany- when you say you're having a hard time what do you mean? Did you submit an inquiry on their website? Call or email them?

@TariqJohnson 3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/

@Thesimplebodyshop 3 жыл бұрын

Hey Tariq I read that one cannot acquire an fdd until the franchisor agrees you are eligible. So should I ask the franchisor all the questions that could be answered on the fdd becuase I couldn't obtain it?

@TariqJohnson 3 жыл бұрын

I would just reach out and ask them- see what they say.

@wilsonorr6762 3 жыл бұрын

I've spoken to 4 franchisors in the past week and 3 of them sent the FDD after the initial call (prior to them qualifying me). So all you have to do is ask.. most will oblige.

@mechoeldavis4699 2 жыл бұрын

Hey Tariq, what do you think of opening a top golf franchise?

@TariqJohnson 2 жыл бұрын

Top golf doesn't franchise. If they did it would cost about $10million to open one.

@HDBnB1 10 ай бұрын

thoughts on buying an existing ritas franchise?

@TariqJohnson 10 ай бұрын

Without specifics on the listing, no.

@GoogleUser-ge5hi 2 жыл бұрын

Thanks for the info. I’m currently looking for a franchise model that is office coffee machines related. Can I message you some details to verify if it’s legit? Thanks!!

@TariqJohnson 2 жыл бұрын

I'm not the person to tell you if something is legit. If that's in question- take a pass.

@jackpunjabi3576 6 ай бұрын

Do you have a video, on how to become a Frenchesor

@TariqJohnson 5 ай бұрын

Yep, on our podcast channel. Here’s the video kzfaq.info/get/bejne/nNCPfK560rCxe5s.htmlsi=rYswkfhffCBuKNdJ

@L00se_change 2 жыл бұрын

Hi there, Is a 20% per month franchise royalty with 5% of that 20 going to advertising too high?

@TariqJohnson 2 жыл бұрын

It depends on the franchise. At first glance it seems pretty high..BUT. The question is what is the value you get for that royalty? Is the franchisor going above and beyond in some way than when the royalty is 7% and 3% advertising? Also what’s the initial franchise fee?

@noblenwogu9402 2 ай бұрын

Looking to purchase a Vending Machine franchise - Please what’s your thoughts on those

@TariqJohnson 2 ай бұрын

Do you have a more specific question?

@WondwosenNigussie-id4fj 9 ай бұрын

How much cost to open franchise mcdonalds in canada?

@workwithcori4052 Жыл бұрын

Hi Tariq What if the franchise is an online franchise?

@TariqJohnson 7 ай бұрын

Can you be more specific with your question?

@workwithcori4052 Жыл бұрын

Like the business i an online business

@TariqJohnson 7 ай бұрын

Responded below

@amansidhu6971 Жыл бұрын

I am trying to download you book but can’t do it.

@TariqJohnson 7 ай бұрын

Sorry you had issues.

@datrimray1920 7 ай бұрын

When do we know whether the profit margin is too scarce? Let's suppose in India, I earn 300,000 INR per month from a franchise and my actual profit margin is only 90,000 INR per month. Do you think it is too small an amount? What does an average profit look like in terms of percentages?

@TariqJohnson 7 ай бұрын

Sounds like a 30% profit margin if my math is correct. In the US 30% profit margins are solid. Not sure about India.

@datrimray1920 7 ай бұрын

@@TariqJohnson Yes your calculation is correct. Thanks for your response on that. One last question. What happens if I realise that the profit margin is severely less? In that case should I ask them to provide a list of deductions from my profit margin? I need to know if it is rent, royalty fees or cost of raw materials that is going to cost me a lot

@kelseydpt4216 5 ай бұрын

How do prepare your business to be an attractive franchisee?

@TariqJohnson 5 ай бұрын

I have a video that answers that coming out next week. Monday 1/22

@kelseydpt4216 5 ай бұрын

awesome! I will be looking out for it - I have a private practice (physical therapist) and am in the process of attracting investors to fund a franchise in an adjacent industry but not the same exact business model/service. @@TariqJohnson

@umermirza5575 2 жыл бұрын

Salaam Sir. Hope you are doing good. Really got impressed by your teaching. Well I am umer from srinagar kashmir India. I am currently working as a flight attendent & I am interested in opening a food business. I have in mind of one of the India’s momo food brand called Wow Momos! & interested in there Franchise. I want to ask you . Q. If I go for the restaurant , do I have to get the employees for my shop or the company do? Q. Will the company train my employees on how to make the product as per company style & standards? Q. After getting all the information about the franchise , Can then I procedd for finalising the location for my shop and do all the agreements ? More to ask you, as of now this only. Allah bless . Regards, Umer Mirza.

@TariqJohnson 2 жыл бұрын

Hey there. Typically you need to hire and train your employees. Most franchisors want you to sign an agreement before they will help you find a location or approve it.

@adimd8357 Жыл бұрын

So I take 20 minutes of notes just for you to mention a document half way through. Great video bro but that’s mad annoying especially with my adhd

@TariqJohnson Жыл бұрын

Sorry?

@adimd8357 Жыл бұрын

@@TariqJohnson Apology excepted I follow now and I got your free book, much appreciated for all the knowledge you’ve put out.

@rubycortes6709 2 жыл бұрын

It would be more helpful if you have text as you point out the questions

@TariqJohnson 2 жыл бұрын

Noted, thanks.

@esthermoleeli4858 8 ай бұрын

How much cost to open franchise kfc in south Africa

@TariqJohnson 7 ай бұрын

No idea. Between $1.4m and $2.7m in the US

@zekecapriano6868 3 жыл бұрын

Hi, my question is, what are the requirements for start? Do you need to go to a business class or study to get a diploma or such? Or any documents need to be on hand?

@TariqJohnson 3 жыл бұрын

To own a franchise? You simply need to get approved by the franchisor. Are you looking at any specific company?

@zekecapriano6868 3 жыл бұрын

@@TariqJohnson yes, sir, I'm looking to own one. as I mentioned in the previous comment looking at either subway, Papa Jonas, little Cesar. food franchise. but I only got 70k how do get your chances up to be approved by the franchisor?

@TariqJohnson 3 жыл бұрын

That's a tough one- you might have a better shot at buying an existing location. You could submit an application with each franchisor- and put your best sales game on and convince them why you should be approved despite not meeting their net worth requirement. Hit me up at info@tariqjohnson.com if you have more questions. Hard to track replies on youtube!

@zekecapriano6868 3 жыл бұрын

@@TariqJohnson but I was hoping to get a business loan for the rest.do I not have a chance to get a loan? I've heard that franchisor will help you to get a loan, is that right?

@TariqJohnson 3 жыл бұрын

Send me an email at info@tariqjohnson.com

@panseycain7086 10 ай бұрын

Franchise with wheelchair and stretcher transportation company

@TariqJohnson 9 ай бұрын

Cool, we have free trainings and resources on our website.

@shannoncoley7923 Жыл бұрын

Should I pay asking price for a franchise

@TariqJohnson Жыл бұрын

Are you buying a resale?

@TariqJohnson Жыл бұрын

Join the Zero to Profitable Franchise free Fb group and reply in there. I won’t get notified of replies here on YT.

@bryntonkolb9420 8 ай бұрын

What franchise did you buy?

@TariqJohnson 7 ай бұрын

ROBEKS

@dc-logic8830 2 жыл бұрын

Yooo could I get a franchise for 24000$ and the franchise working smoothly and it’s should be a win win for everyone right

@adrianapollyon5087 Жыл бұрын

Yo. Why not? Buy some franchise pool maintenance.

@TariqJohnson Жыл бұрын

I’m not sure I understand the question.

@adrianapollyon5087 Жыл бұрын

@@TariqJohnson it's a bot Tariq

@rahabshai8046 2 жыл бұрын

Looking to franchise a real estate

@TariqJohnson 2 жыл бұрын

franchise real estate?

@adrianapollyon5087 Жыл бұрын

Motel 6

@gautamraj2440 2 ай бұрын

3:20

@TariqJohnson 2 ай бұрын

👌

@aqeelaswad4006 3 жыл бұрын

Hi How are you , for direct questions , I have 50,000 cash 💰. An I own franchise with good profits, Also my dream to own food or coffee shop franchise Thanks

@TariqJohnson 3 жыл бұрын

What’s up man- congrats on having $50k man. You definitely can! Hit me up at info@tariqjohnson.com if you want my help. Also have you gotten my Free 7 Step Blueprint to Business profits in 60 days? It’s at my website ( link in video description). Dreams come true my man! Takes strategy, planning, and taking action !

@TariqJohnson 3 жыл бұрын

Tariq is hosting a FREE online event, go register at dreamlifemastery.com/