21 min listen
EP 410: From Worker to Owner Does $5m in 2015 Franchise Model with Josh Herron of 1800GotJunk
EP 410: From Worker to Owner Does $5m in 2015 Franchise Model with Josh Herron of 1800GotJunk
ratings:
Length:
22 minutes
Released:
Sep 7, 2016
Format:
Podcast episode
Description
Josh Herron, one of Bryan’s best franchisers at 1-800-GOT-JUNK. Josh and his partner Tyler have been through the grinder as entrepreneurs, but they have now created a franchise worth millions. Learn about franchising and if it’s the right path for you to become a business owner and start seeing dollar signs. Famous Five: Favorite Book? – Start with Why What CEO do you follow? — Jack Welch Favorite online tool? — iPhone Notes Do you get 8 hours of sleep? — No. If you could let your 20 year old self know one thing, what would it be? – All of your hard work will create something magical. Time Stamped Show Notes: 01:40 – Nathan introduces Josh 02:15 – Franchisers must be entrepreneurial by nature 02:35 – Josh got an opportunity to get into two franchises, and that was his first leap into entrepreneurship 03:10 – Wanting to be your own boss and becoming successful 03:40 – Josh was managing a 1-800-GOT-JUNK location when it got bought out by another owner, his friend Tyler 04:45 – It was an opportunity for Josh to work with someone that he got along with 04:58 – The business did $750000 the year before it sold to his friend 05:30 – It was very immature when Tyler was looking to buy it 06:15 – The deal was more about what was needed for the business to grow 06:30 – The previous owners were very motivated to get rid of it 07:15 – As the business progressed, they bought an OxiClean franchise as well 07:45 – They bought the company to add more money to their bottom line 08:35 – Starting from the ground up 09:23 – What should people look for when buying a franchise? 09:40 – You can learn from people who have done it before 09:57 – You have a lot of support from others 10:10 – You have more freedom than you might think 10:25 – Some franchises have more upfront expenses 11:20 – OxiClean did $200000 the first year, top line 12:00 – They sold the business for $100000 and broke even 12:35 – Last year he did $5.5 million top line 13:00 – How to expand it 13:10 – Buying out other partners 13:20 – Advertising and good employees 13:40 – A huge opportunity even in a small town 14:14 – What do you do with the bottom line? 14:30 – A lot is reinvested 14:40 – They want to expand their footprint 15:05 – How to become a millionaire as a franchiser 15:20 – You have great support and you can maximize your business 15:50 – He’s doing better than some of the other people he knows 16:10 – Connect with Josh on LinkedIn 16:30 – Follow their Facebook Page, 1-800-Got-Junk? Kansas City 18:45 – The Famous Five 3 Key Points: Franchisers must think like entrepreneurs to be successful. Owning a franchise will give you more freedom than you’d expect. If you run your franchise right, it can become a million-dollar business. Resources Mentioned: Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible. Freshbooks - The site Nathan uses to manage his invoices and accounts. Leadpages – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+ Audible – Nathan uses Audible when he's driving from Austin to San Antonio (1.5 hour drive) to listen to audio books. Toptal – Great for business people to start building their app Start with Why – Josh’s favorite book Show Notes provided by Mallard Creatives
Released:
Sep 7, 2016
Format:
Podcast episode
Titles in the series (100)
33: How to Build a $100m SaaS Company: Nathan Latka brings you entrepreneurs daily inspired by Tim Ferriss, Pat Flynn, John Dumas, Entrepreneur on fire, Chalene Johnson, NPR, HBR, and the StartUp Podcast by SaaS Interviews with CEOs, Startups, Founders