Hey Empire Builders,

Welcome to this week’s Franchise Empire Newsletter, where we share specific franchise opportunities that we think are interesting, and examples of everyday folks building their empires.

Here’s a major takeaway and hack for you, after I just finished running an annual planning training and session for our group of franchise owners in our Profitable Franchisee Mastermind group….

Most people wing it. They sort of, kind of want something…or have a rough idea of what they want. 

Or they don’t truly believe, with conviction, that they can achieve it. 

Here’s the formula on doubling your income, OR creating any specific goal you have.

Beliefs dictate what you THINK…

Your thinking determines how FEEL  ( confidence, certainty, fear, doubt, confusion)

Your feelings drive your behavior ( the volume, and the quality)

Your behavior creates your results.

Most people try to ACT their way out of a belief problem. So they spin their wheels, and nothing really changes in a meaningful year.

Maybe you go from making $80k a year, to $90k. 

Or $125k to $140k, 

Or $150k to $175k. 

How do you go from $125k to $250k?!

It starts with shifting your belief first. You have to convince yourself that it’s 100% possible and within your control.

The problem of just starting to take random action, is that subconsciously you don’t believe that you can actually do it. 

Because when you DO believe it.

This leads to the next part of the formula.

The acronym is SAM. 

Strategy, Actions, Mindset.

To double your income this year, you will need to set that as your definitive specific target with unwavering commitment and belief.

Then you need to develop a clear and actionable STRATEGY to make it happen. (I will buy a franchise, start my own business, buy an existing resale, etc).

Then you must ACT. When you have 100% belief, you act with conviction. Decisively and swiftly. 

Tip toeing , or procrastinating stems from a lack of belief, which creates fear and uncertainty. 

Think about it. If you 100% knew that failure was not an option, how quickly and confidently would you move forward?

Lastly, it’s not going to be easy. You will be tested, challenges will come up, you will want to quit, doubt and fear will creep in.

So you’ll need to build an unstoppable and unshakeable MINDSET. 

This is the difference maker. It represents 80% of your success because mindset and belief are synonymous. 

The problem is, without mindset you’ll have the strategy nailed. You probably even take action. But then you don’t follow through, or you procrastinate, or you doubt so you hesitate.

So in order to double your income this year.

1. Shift your belief and decide that you can and will do this.
2. Create a strategy.
3. Act on that strategy.
4. Cultivate an unstoppable mindset.

If you want to know HOW to do those things, keep hanging around here because I will show you! 

You got this homie!

Tariq

CEO & Founder, Franchise Empire

Today, in 5 minutes or less:

✔ 1 Specific resale franchise for sale

✔ 1 Franchise of the week

✔ 1 Client Case study of someone just like you

✔ Latest episode of The Franchise Empire Show

Join Our Franchise Buyers Beta Course for
Aspiring Franchise Owners

Franchise resales possess many benefits for aspiring business owners – established cash flow, experienced employees, systems in place, and brand awareness to name a few. 

This week, our featured resale comes from Kitchen Tune-Up, a leader in the kitchen remodeling industry. Started in 1975, Kitchen Tune-Up is a well-established, stable franchise with 258 locations throughout the U.S. and Canada. Franchise owners specialize in 1-5 day kitchen updates, offering solutions to every project and budget, and utilizing customer service “trustpoints” to make the experience fun with little to no hassle for homeowners.

• Asking price of $250,000

• Past 12 months revenue of $852,372

• Location opened in 2018

• 3 territory market included

• Owner has multiple other territories in different cities and it’s too much

• Vehicle leases can be transferred

• 3 employees currently on staf fopportunity to invest in more marketing and grow the business significantly.

• Boise is one of the fastest growing cities in the country. That combined with Kitchen Tune-Up being one of the longstanding franchise leaders in the home improvement space, could equate to a good opportunity for someone looking for a home services opportunity. 

• Kitchen Tune-Up is unique in that it can offer projects for any budget, with services including 1-day tune-ups, cabinet painting, cabinet redooring, cabinet refacing, and custom cabinet replacements. 

• 70% of owners are home-based; no need for an expensive showroom with this business model

Joe is really the perfect example of this. He bought a resale franchise that nearly doubled his income right away.

He had multiple failed businesses prior. This was when I did our sales calls. He told me on that call this was his last go at it, he was in his mid 50’s and failure wasn’t an option.

Without knowing he shifted his belief at a cellular level. He went on to win an award for his sales performance just a few months in to buying his location.

Check out he made it all happen.

Here are 5 Low Cost Franchises that make
$1,000,000 (Backed by Data)

Most People Waste Countless Hours Of Time Stuck In Confusion, Scoping The Internet, Trying To Find Winning Franchises.

This Will Save You So Much Time.

We’ve Done The Heavy Lifting For You And Narrowed It Down To 5 Low-Cost Franchises That Make $1,000,000 So You Can Save Yourself So Much time.

• Started in 1999 under the name Rent-n-Roll 

• Began offering franchises in 2002 and in 30 states now.

• There are no parent companies or predecessors.

• Corporate Owned Territories: 23 stores

• Franchise Units: 155 store

• Franchise Fee: $45,000

• Royalty: 5% of gross revenue

• National Marketing Fee: 2% of gross revenue

• Total Investment Range: $610,297 – $1,547,075

• Term: 10 years
  **Numbers according to their FDD released on April 28, 2023

RNR Tire Express is the largest franchisor of rent to own wheel and tire stores nationwide and were the first to franchise. RNR is the go-to place for quality tires and custom wheels with unique payment options including their Pay-As-You-Go! program to a growing, underserved and recession-resistant market. Their services include sales of tires, alignments, tire rotations, wheel balance, tire repair, maintenance, and more. 

Below tables taken from the RNR Tire Express 2023 Franchise Disclosure Document – Item 19.

Benefits for the Franchisee:

• Amazing Retention Rate – Over the last 3 years there have been 0 terminations, 0 non-renewals, and 0 ceased operations! That’s incredible retention seeing that they have over 150 stores

• Demand – Americans annually spend $250 billion on tires and auto services. More specifically, the value of replacement tire sales alone is approximately $38 billion annually.

• Service any Customer – Most tire stores require credit or cash day of. RNR has a pricing model that appeals to middle-income consumers who are affluent enough to own a car, but may not have the credit or cash available to purchase. Over 85% of their customers choose the lease to purchase option. RNR also has all the top selling brands people trust, so they can still service the customer who can pay day of.

• Scalable – Obviously this franchise is not in the budget of the majority of potential owners. However, for those that do have access to a lot of capital, you’ll have the option to open multiple stores. A lot of prime territories are still available and over 80% of the current franchisees own multiple units and are continuing to expand.

• High Barriers to Entry – It is very difficult for new chains to enter this market. Customers want name-brand products and want them installed professionally. For that reason and the fact that old tires must be responsibly discarded, this prohibits online retailers like Amazon from establishing a presence. Not to mention the total investment needed to get started.

Episode #33: How to Build a Wildly Successful Franchise Brand

In this episode, I got to chat with Charles Internicola, who is a highly respected franchise attorney with a specialty in helping entrepreneurs franchise their businesses and helping franchisors grow and scale.

We talked about the difference between successful franchisors and not.

We also discussed how to handle item 19 as a franchisor and franchisee.

Whether you want to franchise your business or buy a franchise, there’s a TON of gold in this episode.

So sit back, take some notes, and enjoy the episode.

Watch on YouTube

Listen on Podcast Platforms

That’s a wrap for this week’s Franchise Empire newsletter. 

Feel free to reply with any questions, or feedback. I appreciate and value your time and attention.

I’ll see you at the same time next week!

-Tariq and The Franchise Empire Team

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