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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Ever heard of a boring business?
Maybe you’ve fallen into the trap thinking that whatever business you buy or start you need to be passionate about.
I disagree.
Passions are fleeting. They can change from day to day, and week to week.
It’s also MUCH easier to be passionate when you’re making money.
I’ve seen too many people start businesses they are passionate about that flop and make no money.
That passion turns into a burden REAL QUICK.
Instead, pursue a business you have a belief or connection with.
For example, I’m not passionate about childcare- but I’d own a daycare franchise.
Why?
I believe in it, and I have 2 young kids so it’s something that hits close to home for me. It’s recurring revenue, Monday-Friday.
When you have a strong belief behind your business and the impact it has on who you are serving…you will develop a passion over time.
Plus, bullshit aside…
Even in businesses you may be passionate about, most of what you do is boring stuff that you probably don’t want to do.
So, the point is- stop chasing “passion”.
Make the money you need to support yourself and your family.
Then use that money and time to do stuff you’re passionate about.
Roger that?
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
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 Outdoor Lighting Perspectives (OLP), an outdoor lighting company that specializes in transforming outdoor spaces with low-voltage architectural and landscape lighting. OLP started franchising in 1998 and now has 123 units across the country.
OLP - Charlotte, NC:
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Asking price of $260,000
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Three territories included – large service area in a fast-growing metro area of Charlotte
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Location has been open for nearly 20 years!
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Owner is retiring and willing to help with the transition
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Team members and subcontractors in place
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OLP system has a 95% retention rate!
Franchise Empire’s Take:
- OLP owners help both residential and commercial customers. They can install residential LED Low Voltage Lighting, Holiday Lighting (Commercial and Residential), and Commercial / Hospitality Lighting Solutions.
- OLP is part of Outdoor Living Brands which consists of three brands – OLP (lighting), Archadeck (outdoor living spaces), and Conserva Irrigation (sprinkler installation and maintenance franchise).
- According to the 2023 FDD, out of 68 reporting franchisees, the AUV was $770,585. This appears to be a great opportunity to get into a well-established brand AND well-established location in a large metropolitan area.
Curious to learn more about this particular franchise resale, or other resales available in your area?
CLIENT CASE STUDY
Josh came to us wanting to own a gym, because that’s what he was passionate about. My first call with him I found out he had some strong skill-sets in building stuff, and was really handy.
I suggested he go that direction with a business, and our team found him the perfect fit.
Check out his story, and what he wound up buying below.
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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Very first location called Humane Wildlife Control started in 2005 in Ontario, Canada.
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Transitioned to the Skedaddle name in Feb 2013.
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Began offering franchises in Sept 2017 mostly in Canada.
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Started franchising in the US in 2020
Numbers:
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Corporate Owned Territories: 23 (US + Canada)
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Franchise Units: 14 (US + Canada)
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Franchise Fee: $49,500
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Royalty: 6.5%
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National Marketing Fee: 0.5%
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Total Investment Range: $89,600 – $238,600
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Term: 10 years
**Numbers according to their FDD released on March 1, 2023
Description:
In every home, there are vulnerable areas that allow mice, bats, birds, raccoons, etc. to enter. Skedaddle provides homeowners a permanent solution to issues that inevitably arise as humans and animals collide.
They have a unique and proprietary methodology focused on placing a one-way door in these weak areas, waiting for the animals to exit, and sealing the entry holes. From there, they provide their customers a lifetime guarantee that the animal will not enter the dwelling again.
Studies have found that seventy percent of relocated animals do not survive. It’s not humane. In fact, studies indicate that in urban areas there are 15-50 raccoons per square mile, and they move in once a den site is vacated. It is impossible to get rid of all raccoons, squirrels, skunks, birds, bats and mice in an urban setting – the animals will repopulate. Skedaddle solves a problem for the homeowner without killing innocent animals.
Financial Data:
Below tables taken from the Skedaddle 2023 Franchise Disclosure Document – Item 19.
Benefits for the Franchisee:
- Huge Territories – one territory is up to 500,000 in population! That is double the size of a typical home services franchise allowing you the opportunity to continue growing with just 1 territory.
- Minimal Competition – while there are several pest control companies, there are not many companies who will come out and both remove an animal(s) and also find/close off any holes they find where animals are getting in.
- Easy to Scale – no brick-and-mortar space required! Because of the low financial investment and low business overhead costs, you can scale from a 1-van business to potentially a fleet of 10+ easily!
- Multiple Revenue Streams – some franchise owners only do wildlife removal, but you can add on attic restoration, pest control (recurring revenue), and holiday lighting (seasonal) so there is more than just one service you’ll be offering.
- Recession Resistant – the economy has nothing to do with this type of service. If you’ve got raccoons or squirrels in your house, you can’t ignore it! This is a need for homeowners and not something that will ever go away.
To see if this franchise is available in your territory
OR
Check the availability of ALL franchises in your area
Episode #35: How to Use AI to Get More Customers
I sat down to talk with Scott Empringham to talk about AI and specifically about how AI is impacting businesses and the marketing world. Scott shared some powerful AI strategies any franchise owner can use to create high-converting marketing campaigns in less time, at a lower cost, and with more effectiveness.
AI is for sure going to impact the marketing industry in 2024 and those who adopt AI will have an advantage over other business owners. Leveraging AI in your business/marketing can allow you increase your speed to market, test more marketing strategies, and reduce overall cost.
This is a great episode full of tons of golden nuggets so kick 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