Playbook #044: Franchises

🖼️ The Big Picture

If you follow us here at Wealth Factory at all, you know that we’re big proponents of becoming business owners, scaling your revenue, and systematizing it so you can “retire in your business.” Meaning you’re still involved and overseeing things, but it’s not going to go to $0 if you don’t show up on Monday.

Business owners get better tax treatment than employees, have more control over their financial destiny, and if run well, can get you to Economic Independence faster.

Franchises can be a great way to accomplish these goals for a couple of different types of people.

First, aspiring entrepreneurs looking to make the jump out of the corporate world can get started with a service-based business for as little as $10,000 - $15,000. This could be something like mobile windshield repair or janitorial services for businesses. It’s something you can operate yourself E-Myth style and slowly hire and scale.

For those with a larger net worth and looking for a wealth preservation, growth, and legacy strategy, buying a franchise with a hefty startup cost (above $1 million) like McDonald’s could be a fit. It’s a proven model and brand that’s hard to see going away anytime soon.

🔢 By The Numbers

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