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CATEGORIES: Business, Franchising
Franchising continues to be a popular business model in today's competitive market. Entrepreneurs can leverage the success of an established brand instead of building a business from the ground up. Today's guest has taken franchising to the next level by investing in different brands, resulting in immense growth and profitability.
Justin Sharbutt is a multi-brand franchisee passionate about expanding his footprint in the franchise industry. He owns 7 Dunkin'/ Baskin Robbins, 3 BurgerFi, and 54 Tide Cleaners, with 12 new stores under development. His wife owns 1 Blo Blow Dry Bar. Justin had his first taste of entrepreneurship when he and two of his best friends started a business raking leaves in their neighborhood.
Join Erik and Justin as they discuss what being a multi-unit and multi-brand franchisee is like. Get valuable insights in choosing a brand to work with, deal structures, business entity setup, and how to run multiple locations effectively.
If you’re looking for a franchise to start your dreams of becoming a business owner, look no further and let Justin show you the way.
“Volume cures all. The more sales you have, the margins are much better.” - Justin Sharbutt
In This Episode:
- Justin takes us through his early experiences in entrepreneurship and how he got into franchising
- Why would someone want to franchise a food business when it's known to be a low-margin industry and managing employees is a nightmare?
- How important is the brand when it comes to franchising?
- What attracted Justin to franchise a QSR and laundry service?
- Justin talks about what the deal structure was like with Tide, what worked, what didn't work, and other lessons along the way
- What is the right way to set up a business entity?
- Justin shares some numbers (EBITDA)
- What is it like working with Procter & Gamble vs. working with Dunkin'?
- Neighborhood marketing tips from Justin
- How do you run a laundry business, and how many employees do you need per location? How does Justin's day-to-day schedule look?
- What is the biggest threat to the laundry business?
- What's next for Justin?
And more!
Resources:
- Learn more about Erik’s franchisee mastermind here - www.franchisetribe.com
- Learn more about Erik’s franchisor mastermind here - www.franchisortribe.com
- Learn more about Erik’s passive investing mastermind here - www.tribeofinvestors.com
- Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
- Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
- Franchise Secrets FB Group - https://web.facebook.com/groups/franchisesecretsfb
- Front Street Equity Partners - https://www.FrontStreetEP.com/
Connect with Justin Sharbutt:
- Website
Connect with Erik Van Horn:
- Website
- YouTube
- Medium
Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.
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