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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If you’re struggling to make the progress you want in finding the best business opportunity, it’s probably one of these two things…
#1 Clarity
I’ve seen it time and time again when I ask…
“What’s your criteria for a business” and I often hear…
“I want one that makes a lot of money.”
It’s not clear dude!
CLARITY IS POWER, and in order to find the right business that enhances the quality of your life and finances, you need to develop crystal clear clarity on exactly what you want, and the life you want to create.
It’s just like plugging in an address into GPS. If you don’t know the exact location you are heading to you’ll probably get lost.
So…
Exactly how much money do you want to make?
What type of employees do you want to work with?
What’s important to you about the specifics of the business model?
Etc…
#2 Decisiveness
No progress is made until you make a decision.
Have you ever just kind of hemmed and hawed, struggling to make a decision?
It’s usually a by-product of NOT having enough clarity. I know I’ve been guilty of it many times…it sucks doesn’t it?
What I’ve seen is that the most successful entrepreneurs, and people in general, are quick to make decisions, even when they only have about 70% of the information they need.
Falling forward is literally the ONLY path to success.
It doesn’t mean rushing! And it doesn’t mean not having a strategy or not doing your homework…
But you MUST make a decision, and know that….
Not making a decision….is actually a decision to stay the same and do nothing.
So what can you do about this?
Spend some time alone, in quiet and ask God for guidance. Get clear on what you want, and start taking decisive steps in FAITH. The path will reveal itself as you move along.
It will be scary, and you will doubt yourself at times, this is normal.
Godspeed my friends.
Tariq
CEO & Founder, Franchise Empire
Today, in 5 minutes or less:
✔ Existing franchise for sale with over $1million in 2023 Revenue
✔ Franchisee doing $1.8M in sales with one territory of lighting franchise
✔ Family with young kids who struggling to find the right business to start
✔ 4 Keys to Buying a Winning Franchise
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 Play It Again Sports. Play It Again Sports was founded in 1983. The brand now has nearly 300 stores strong making it the largest new and used sporting goods retailer in North America and a competitor in the sporting goods retail industry. The Play It Again Sports model is built around a process of buying, selling and trading quality used and new sports gear and fitness equipment.
Westmont, IL
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Asking price of $695,000
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Established in 2007
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Owner is retiring
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2023 revenue of $1,060,000
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SDE provided upon signing NDA
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Established retail location in high traffic area (assignable to new owner)
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10 employees (full-time and part-time)
Franchise Empire’s Take:
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Play It Again Sports is one of five retail-based franchises under the Winmark Corporation umbrella. Winmark has over 850 franchisees and 1,250 stores throughout the U.S.
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According to the 2024 FDD, the average gross sales for the top 25% of stores that had been in operation for at least 12 months was $2,072,645, and the second quartile was $1,200,142.
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The mission behind Play It Again Sports is to reduce the amount of waste of consumer goods, as well as offer affordable sporting goods solutions to families in communities.
Curious to learn more about this particular franchise resale, or other resales available in your area?
CLIENT CASE STUDY
Maritza and her husband had always wanted to pursue entrepreneurship together. About 8 months ago, they started looking into options like real estate, and franchises. They knew they wanted to make a change in their life so they could have more time to spend with their young kids. After searching on Google and YouTube, she found Tariq and Franchise Empire. Since joining ZTPF, Maritza and her husband have officially become franchisees and highly recommend ZTPF for anyone considering buying a franchise.
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 WEEK
History:
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Founded in 1995
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Been offering franchises since 2005
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Acquired by Empower Brands in 2021
Numbers:
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Corporate Owned Territories: 0
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Franchise Units: 128
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Franchise Fee: $59,500
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Royalty: 7% – 3.5%, sliding scale down as revenue increases
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National Marketing Fee: 2%-0%, sliding scale down as revenue increases
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Total Investment Range: $99,675 – $214,200
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Term: 7 years
**Numbers according to their FDD released on January 26, 2024.
Description:
Outdoor Lighting Perspectives is an outdoor lighting company that specializes in transforming outdoor spaces with low-voltage architectural and landscape lighting. They install lighting for pathways, pools, docks, decks, outdoor living spaces, commercial properties and holiday lighting. You’ll have a sales person, or do the sales yourself, and a couple full time technicians who do the installations. You don’t need any permits in order to install, so jobs can be installed quickly. You’ll do a lot of networking and relationship building in order to get leads. The business can completely be run from home.
Financial Data:
Below tables taken from the Outdoor Lighting Perspectives 2024 Franchise Disclosure Document – Item 19, page 38.
The information provided in the table below was compiled from 40 single-territory Outdoor Lighting Perspectives franchisees that were operational during the Reporting Period, including Outdoor Lighting Perspectives franchisees operating in the United States and one in Canada. The data excludes 29 franchisees that were operational during the Reporting period but operated more than one Territory during the entire Reporting Period and report gross revenue to us for all Territories on the same report, and franchisees that either began operations or ceased active operations during the Reporting Period.
The information provided in the table below was compiled from the 29 multi-territory Outdoor Lighting Perspectives franchisees that were operational during the Reporting Period, each of which operate in more than one Territory under different Franchise Agreements. These 29 Outdoor Lighting Perspectives franchisees reported Gross Revenue to us for all Territories on the same report. As a result, for the purposes of the table below, each of these 29 Outdoor Lighting Perspectives franchisees was considered to be 1 franchisee even though they operate in more than one Territory.
The Average Gross Revenue figures presented above represent the total dollar value of customer installation contracts and ongoing maintenance services sold during the Reporting Period by the Outdoor Lighting Perspectives franchisees identified above.
While the information in Part 2 through 6 focus on expenses by the applicable Reporting Franchisees that had been open and operating throughout 2021, this Part 1 presents information for those 45 Reporting Franchisees operating in 75 territories that had been open and operating on a full-time basis for at least two full years as of December 31, 2022. 19 of the 45 reporting franchises contained in the chart below operate in multiple territories. The Chart below reflects the average revenues, certain costs, and expenses in the 2022 calendar year by these 45 Reporting Franchisees.
Benefits for the Franchisee:
- No Licensed Electricians – Even though you’re installing lighting, everything is low-voltage meaning you don’t have to hire an expensive electrician to do the job for you. A few states will have state specific requirements, but most will not.
- Large Territories – One territory is at least 700,000 in population, if not more. This is much larger than a typical home services franchise territory.
- Holiday Lighting – You can offer holiday lighting to existing customers or to new customers giving you business during the colder months where customers may not be thinking about their outdoor lighting as much.
- Complementary Affiliate Brands – Empower Brands also has Archadeck, Conserva Irrigation, Superior Fence & Rail and more under their umbrella. Each franchise could be a potential option for growth as you could service the same customers and own multiple brands.
- Recurring Revenue – You’ll offer your customers one year of maintenance for free, but then you’ll sell them on an annual subscription maintenance plan after the first year.
To see if this franchise is available in your territory
OR
Check the availability of ALL franchises in your area
Episode #59: The 4 KEYS To Buying A Profitable Franchise
Before you buy a franchise you must check off these 4 boxes.
We’ve helped hundreds of entrepreneurs buy a profitable franchise.
Through that process, we’ve developed a “profitable franchise buying system” that I share with you today.
These are the 4 KEYS to buying a winning franchise.
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