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.
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Most people don’t know this about me…
9 years ago I became friends with a successful entrepreneur whose business was doing about $5million a year in sales.
I was still working as an employee, doing Financial Advising.
I was telling him about how I had tried to start so many businesses before, but kept failing and wasn’t able to really generate any sort of consistent revenue.
He said something to me that rocked my world…
“With your skillsets you should AT LEAST be making $1million a year”.
It shook me to my core, because he was RIGHT. I just didn’t know how.
At that point in my life I was trigger shy on starting yet ANOTHER business, and I just wasn’t feeling confident, and courageous because of my 9 failed side hustles prior.
But his BELIEF in me, hit me deep.
In that moment I knew he was right, and I found myself feeling a jolt of confidence.
The next business I started was my franchise.
We did $30k in sales our second month open, and $470k in sales that first year.
My other businesses never did anything close to that. Not even $100k in sales!
The moral of the story is surround yourself around people who see your greatness.
Put yourself around people who speak life into your vision and goals.
So, I just want to let you know…
That although I haven’t met you personally. I BELIEVE IN YOU.
You can create the business of your dreams and the life you’ve always dreamed of.
How do I know that?
Because God wouldn’t have put that dream in your heart if you weren’t capable of achieving it.
LET’S GO.
Tariq
CEO & Founder, Franchise Empire
Today, in 5 minutes or less:
✔ A Turnkey Franchise Resale with owners retiring
✔ Medical Franchise showing $430k in PROFIT* (Top 25%)
✔ A client who tried to start their own business and came back to franchising
✔ The Franchise Empire Show with a CEO who built a Million dollar business
Join Our Franchise Buyers Beta Course for
Aspiring Franchise Owners
FEATURED RESALE
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 a longstanding member of the Neighborly network of brands: ShelfGenie. Established in 2007, ShelfGenie has 227 franchise units throughout the United States. They provide customized Glide-Out shelving, cabinets and storage solutions in kitchens, pantries, bathrooms, garages and other areas of the home.
Norwalk, CT
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Started in 2009
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Neighborly brand
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Asking price of $445,000
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High household income in territory
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Owners are retiring
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Vehicle, equipment and employees included
Franchise Empire’s Take:
- According to the 2023 numbers disclosed in their most recent FDD, the average ticket price per job was $4,633. Each job takes 1-2 days to complete depending on the size of the project, so these appear to be quick, profitable jobs with the potential for repeat customers to organize other areas of their homes.
- ShelfGenie is a strong brand in the Neighborly network, boasting franchisee retention rates of 97%(!) over the past three-year period.
- Candidates interested in the home services space that want a turnkey opportunity could be a great fit for this business.
Curious to learn more about this particular franchise resale, or other resales available in your area?
CLIENT CASE STUDY
James was one of my first clients when I just did general business coaching. He decided to go the route of starting his own business, and about a year later came back to franchising because he wanted a proven system, and not to have to figure everything out himself!
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.
FRANCHISE OF THE MONTH
History:
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Corporate has been providing chiropractic services since 2004 in Colorado Springs, CO and consulting/management services to chiropractic practices since 2008.
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Started franchising in 2015
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Started by husband/wife team of Chiropractors who saw a need in their profession
Numbers:
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Corporate Owned Territories: 5
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Franchise Units: 89
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Franchise Fee: $50,000 for Launch Model, $300K for Hub Model
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Royalty: 6.5%
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National Marketing Fee: $800/month
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Total Investment Range: $347,384 – $579,180 (Launch) or $597,384 – $829,180 (Hub)
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Term: 10 years
**Numbers according to their FDD released on June 14, 2023.**The Hub Model is only for Chiropractors, the Launch Model would be for the non-doctor entrepreneurs/investors.
Description:
100% Chiropractic provides unique opportunities for both doctors and non-doctors to invest behind a full service wellness clinic that offers cutting edge chiropractic care, massage therapy, and a full line of quality nutritional supplements. Chiropractic care can help in many areas of a patient’s life. Some of the options they offer their patients include Corrective Care, Family Wellness, Personal Injury (Auto Accident), Prenatal, and Pediatric, as well as Massage Therapy. At 100% Chiropractic, they don’t just treat pain – they work to educate, inspire, empower, and provide lasting care. They offer affordable cash plans and accept all insurance, so patients have little reservations.
Note: In certain states, a location offering chiropractic services must be owned and operated by a Professional Corporation (a “P.C.”), which in turn is owned by one or more licensed professionals (typically a licensed chiropractor). You’ll need to check into your state laws to see what is allowed.
Financial Data:
Below tables taken from the 100% Chiropractic 2024 Franchise Disclosure Document – Item 19.
State Laws Vary – Some states require a doctor (PC) own the practice while other states allow non-doctors (SC) to own a practice.
Benefits for the Franchisee:
- Multiple Revenue Streams – 100% offices don’t just offer chiropractic care. They can also offer massage and stretching services which are two major revenue streams by themselves. They also offer other things like nutritional supplements.
- In-House Billing Company – 100% EPIC maximizes collections for the offices and takes the worry and guesswork out of billing insurance, doctor credentialing, posting, and follow-up to maximize reimbursement. It’s like having your own insurance consultant with over 35 years of billing experience.
- Semi-Absentee and Multi-Unit Possibilities – With 100% Chiropractic you’ll have a clinic director who will run the day to day and you’ll have 1-2 chiropractors, 1-2 massage therapists and 1-2 assistants to start. Scaling into multiple locations is possible while there is still a lot of territory left.
- High Demand – 80% of Americans suffer from back pain. The massage industry is $16.5 billion and the nutrition industry is $71.8 billion.
- Recurring Revenue – Most people who go to the chiropractor, massage therapist, and take supplements do so on a weekly or monthly basis. You’ll have consistent revenue coming in every month.
To see if this franchise is available in your territory
OR
Check the availability of ALL franchises in your area
Episode #49: Frustrated Employee Quits and Builds Million-Dollar Business
In this episode, we hang out with Neel Parekh who turned his big idea into a million-dollar business and then decided to make it even bigger by franchising his business. Neel shares all about how he uses the social media to grow his business and tech to run his cleaning business from anywhere, and how he helps other people start their own businesses just like him.
Plus, we breakdown the financials behind Maid This Franchise and how he supports his franchisees. Whether you’re looking to franchise your business or become a franchisee there are some killer insights in this episode you don’t want to miss.
Sit back, take some notes, and enjoy the show.
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