A Deep Dive on Multi-Brand Franchising With Justin Sharbutt
Episode description
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
- LinkedIn
Connect with Erik Van Horn:
- Website
- YouTube
- Medium