Notes Section

We are celebrating our 26th video by posting a compilation of some of our more popular franchise opportunities chosen by you the viewers.

These are some of the top 5 franchises for Boomers & Seniors.
Cruise Planners
http://bit.ly/boomercruises

Huntington’s Learning Center
http://bit.ly/huntingtonboomer

Pedego Electric Bikes
http://bit.ly/pedigoboomers

Real Wealth Network
http://bit.ly/realwealthforboomers

Empire Flippers
http://bit.ly/boomerempireflippers

Schedule A Free Consultation

We are only available Monday - Friday from 10am - 4pm

Transcript

0:00
this is boomer income ideas calm and
0:03
your host Dan Farnsworth I thanks for
0:07
joining me on this segment of boomer
0:09
income ideas com we’ve got a special
0:10
segment setup for you today because
0:12
we’ve surpassed the milestone we’ve
0:15
actually completed over 30 episodes now
0:18
and the response from you the viewers
0:21
has been fantastic as a matter of fact
0:23
because of that we’ve decided to list
0:25
our top five episodes which is arrived
0:30
at by participation from you the viewers
0:32
along the way we’ve attempted to make
0:34
sure that we’ve had relevant and
0:36
informative information and shine any of
0:38
the so called snake oil sales people
0:41
that might have something that we
0:43
thought was not a tourist and ins unit
0:46
viewers have responded very positively
0:47
so with that in mind let’s get started
0:49
with the first of the top five to repeat
0:52
the ignition sequence we’ll start at
0:54
eight point nine seconds we’ll be
0:55
looking to lift off at zero
1:01
and the number five spot is a franchise
1:04
company that combines fun travel and
1:06
income it was founded by two women to
1:09
address the travel needs of a growing
1:10
baby boom generation
1:12
it’s called Cruise Planners so let’s
1:14
take a look at number five hey Vicky
1:16
thanks for joining me today thank you
1:18
for having me Danice is exciting well I
1:20
tell you I looked at your your franchise
1:23
site and and watch the videos especially
1:26
the videos of your last annual meeting I
1:29
wanted to buy a franchise just to go
1:30
join the party
1:31
yeah now when we do that final blast
1:37
humming a novel is already here
1:41
super stoked about 2017 with Cruise
1:44
Planners excellent head over the top I
1:47
mean I can’t believe all the new all the
1:48
new things coming out I mean outdid
1:51
yourselves again we do have fun and
1:57
that’s part of I think our culture which
1:58
is working for us now this is a business
2:00
that they actually do from their homes
2:02
right I mean nobody has a storefront
2:04
they don’t have the overhead of that and
2:05
so forth they’re literally doing this
2:07
from their homes we have a couple that
2:09
do have storefronts just because they
2:10
had another business perhaps an
2:11
insurance agency I think if we have one
2:13
and then a couple that just liked having
2:14
a storefront in some smaller towns but
2:18
they don’t need to have a storefront
2:18
absolutely so the overhead really is
2:20
their computer or tablet and a phone and
2:24
phone lines if you talk about doing
2:26
something that you love to do which is
2:28
travel and and make money at the same
2:31
time tell me about that you as a travel
2:35
agent are you getting discounts to
2:36
travel how are they just paying for
2:39
their travel by by being a franchisee
2:41
how is that worse it’s a little bit of
2:43
everything right you can buy your own
2:44
travel obviously and you’re feeding your
2:46
own business for saying you’re you get
2:48
to take off that Commission but
2:50
suppliers do offer discounted travel
2:52
agent rates or industry discounts or you
2:56
can go on familiar ization trips that
2:58
really it’s just a supplier invites you
3:00
on board because perhaps you’ve been
3:02
selling it a lot or you sell a
3:03
competitor and they want to woo you over
3:05
to sell their products so so you’re
3:08
really what you’re saying is that you
3:10
really have to make this kind of a part
3:13
of your culture as opposed to just a job
3:15
you you really have to embrace it and be
3:19
in it and really love it otherwise
3:21
you’re probably not going to do very
3:23
well yeah I would think I think that
3:25
would anything but I’m all of those
3:26
people that work hard and love it so but
3:29
I mean what’s not to love about travel
3:30
again my family comes from insurance and
3:33
accounting and I got out of that yeah I
3:34
got a dodge real quick when I was 18
3:36
years old I love my parents but not in
3:38
the not in the field a number of
3:40
horse-pond is a recent participant also
3:42
gaining a lot of attention because it
3:44
addresses a common theme that we hear
3:45
from a lot of baby boomers namely they
3:48
want something that is
3:49
meaningful and has a lot of purpose but
3:52
also combines income
3:53
nothing is more meaningful than crafting
3:56
the next generation of Americans to
3:58
compete in a global economy and
4:00
Huntington Learning Center does just
4:02
that so let’s take a look at number four
4:04
Huntington Learning Center I was a
4:07
chemical and biomedical engineer my
4:09
background was in English and
4:10
communications and a minor in politics I
4:12
was really really burnt out from my
4:14
corporate job before I became a
4:16
franchisee I was a career educator and I
4:19
wanted to do something that would really
4:21
make me happy when I was in eighth grade
4:23
my math grade started to lower so my
4:26
parents looked in connington to help me
4:28
we were looking for answers we were
4:30
looking for any sort of help that we get
4:32
after I went to Huntington I became an
4:35
honor student and it’s all awesome first
4:37
of all I do take a family because my
4:39
husband and I bought the business as a
4:41
family proven passionate and profitable
4:45
passion passion for the students is a
4:47
successful passion for me and continue
4:50
to make some of the best possible center
4:51
it can be this is really a proven
4:54
process where we’re changing life
4:56
there’s nothing better than that so
5:02
Darlene and Eileen thanks for joining me
5:03
today thanks for having us and you know
5:06
I think we’re going to have a great
5:07
conversation because I’m big fans of
5:09
yours it’s it’s rare to come across an
5:12
opportunity that can find a truly
5:15
meaningful environment with profit and
5:18
that’s exactly what you have at the
5:20
Huntington Learning Center so and you
5:23
know today we are a leader in the
5:25
tutoring and test prep business and that
5:28
business we deal with students from
5:30
kindergarten through grade 12 in basic
5:32
skills reading writing math study skills
5:35
we also deal with exam prep high school
5:40
entrance as well as SAT and a CT and we
5:44
get tremendous results with the students
5:46
that we work with I love your your motto
5:50
proven passionate and profitable again
5:53
tell me a little bit about that
5:54
philosophy I think what we do we’re very
5:58
passionate about it I say to franchisees
6:00
and prospective franchisees that
6:03
that I wouldn’t be doing this if I was
6:06
making a widget I’ll give you an example
6:08
I got an email yesterday from one of the
6:12
centers and it’s the time right now for
6:14
college acceptances and this young man
6:17
got into five of the colleges that he
6:19
applied to he did get a 35 when the apt
6:22
and he got a million dollars worth of
6:27
scholarships darling can you tell us a
6:30
little bit about the aspect of running
6:33
one of these centers or multiple centers
6:35
and then actually we’re going to talk
6:36
about franchisees in a minute
6:38
but kind of give us an overall outline
6:41
of how a center operates can you do that
6:43
for me part of running a business right
6:45
and being that center director is doing
6:48
the marketing you have to market the
6:50
brand people need to know who you are
6:51
you have to be Huntington in your
6:53
community so franchise owners are
6:56
marketing and as part of that is going
6:59
to school and talking to teachers and
7:02
guidance counselor’s in principled
7:03
letting them know the services we offer
7:05
for their students I took a look at a
7:08
video that highlighted Brian Redick one
7:11
of your franchisees and I was really
7:13
impressed with the fact of his
7:15
background and he came from a very
7:18
successful environment and decided to go
7:22
into this operation and this opportunity
7:24
I spent about 10 years working in
7:26
corporate America prior to opening the
7:28
Huntington Learning Center and if you
7:29
follow the system and work hard which is
7:32
the entrepreneurial part of it then you
7:34
can be successful if I had to say three
7:36
words for Huntington Learning Center I
7:37
would say profitability innovation and
7:40
impact you give me a profile of an ideal
7:44
candidate as a potential franchisee the
7:49
first thing that they need to well they
7:52
need to have the passion for this
7:53
business right they don’t need to be an
7:54
educator but they got a they have to
7:56
want to make the difference all of our
7:57
franchisees have what I kind of call the
7:59
do good bones they want to get back ok
8:01
so they want to get back they want to
8:03
make a difference and that is the first
8:05
thing that all of our prospects said Wes
8:06
Cowan down number 3 Pedigo bikes has
8:09
really hit a nerve with baby boomers the
8:11
theme of fun is so much a part of the
8:13
Pedigo experience that they’ve actually
8:15
copyrighted the term hello fun
8:17
let’s take a look at pedigo this boat
8:28
alone you need and out on the highway
8:34
looking for adventure then whatever
8:38
comes our way
8:39
[Music]
8:42
to me Wow
8:48
love
8:50
tell me why
8:52
[Music]
9:00
thanks thanks for joining me today
9:03
my pleasure you know it was it was
9:07
fascinating to actually get in touch
9:09
with you after I read the article in ink
9:12
magazine because as a baby boomer I know
9:16
that we kind of have this wave of
9:19
preferences that we followed throughout
9:21
our lives our 50s and 60s we went to
9:25
pedal power so you know some of us got
9:26
mountain bike some of us got street
9:28
bikes but we all got to know well I’m
9:31
typical a lot of people in our in our
9:33
age group where I get displaced by
9:34
corporate America and in that transition
9:37
period I lived at the beach and I had I
9:40
lived at the top of a hill and I loved
9:42
to ride my bike down at the beach but I
9:44
hated to ride up that hill at the end so
9:46
consequently the bikes did just as you
9:49
say they hung in the garage so then I’d
9:51
heard about electric bikes and I ordered
9:53
one online finally got it to work
9:55
determined that I was and they’ve got me
9:58
up the hill and I said oh my god this
9:59
was a revelation this is unbelievable
10:02
this is a bike with a small motor on it
10:04
that would get me up the hill I studied
10:06
your website and I got a real kick out
10:08
of seeing some of the testimonials from
10:11
your different customers especially
10:14
people like norm and Terri Rahman I
10:17
think it’s wrong yeah yeah Rock maker
10:19
that’s a rock maker yeah
10:26
we’ve always been very active and we
10:31
find certain things that we like to do
10:32
together and we love our petticoat and
10:36
neither one of us have any argument
10:38
about writing our pedigree together it’s
10:41
not a gang it’s a club and there’s quite
10:43
a few O’s and part of this whole social
10:45
thing is we have a lot of friends but
10:48
they also have a lot of friends and I
10:50
noticed that these are not franchisees
10:52
they’re dealers you don’t charge a
10:53
franchise fee tell me a little bit about
10:55
that we discovered that the rules for
10:57
franchise e are different than our
11:00
dealers are in that our dealers are
11:02
entrepreneurs and the franchise ORS and
11:05
the training of the franchisor says that
11:08
you want to get people who will do
11:09
everything you tell them to do right but
11:11
we don’t want to tell them what to do we
11:12
think it’s better that they do it that
11:14
we want to give them guidelines one but
11:15
we want to tell them what to do and the
11:17
main reason we didn’t do it is we didn’t
11:19
want to collect a franchise fee I
11:21
noticed that your your dealers actually
11:23
come from all walks of life I mean
11:24
everything from an ex-police officer to
11:27
an engineer to I know
11:31
one lady actually owned a laundromat or
11:34
something I mean yeah her husband owned
11:36
laundromat exactly I mean I don’t think
11:38
there’s any duplicated we have some
11:40
teachers I think there’s a few teachers
11:42
in the mix tell me a little bit about
11:44
the actual store setup and the the
11:47
capital cost required to actually set up
11:50
one of these stores I know that since
11:51
you don’t charge a franchise fee you do
11:54
have a minimum order of product that is
11:59
purchased and and then also obviously
12:01
the store tell me a little bit about
12:03
that well first of all we don’t have any
12:06
rules I’m like the guy that doesn’t want
12:08
if there’s a rule I’m going to figure
12:09
out how to break it so we don’t have any
12:10
rules we only have guidelines generally
12:12
speaking it cost between somewhere
12:14
between $75,000 $100,000 to open up a
12:17
Pedigo branded store and about half of
12:21
that is typically inventory once once
12:23
you’re up and running you put up a sign
12:26
how how do you drive traffic to that
12:29
especially that new location okay so
12:32
that’s kind of where we have the secret
12:34
sauce we’re very good at our goal is to
12:37
drive traffic
12:38
to the store their job is to get them on
12:40
a bike and get them to go for a ride
12:41
once they go for a ride and the longer
12:43
they take the ride the more likely they
12:44
are to buy the product it’s our policy
12:47
to do whatever it takes to make sure
12:49
that every single pedigo customer is
12:50
delighted with their bike the overall
12:52
experience I love this business because
12:55
all we sell is fun every hour of every
12:58
day somewhere on earth someone is
12:59
falling in love with a pedigo and
13:01
rediscovering a simple joy of riding a
13:03
bicycle and feels pretty good
13:06
number two is them surprise to me
13:08
because Kathy Becky and her team at row
13:11
wealth Network make the activity of
13:14
investing in real estate as easy as
13:16
buying a stock or a bond in fact working
13:18
with Kathy’s group on real estate is
13:21
like working with Warren Buffett on your
13:24
stock portfolio so with that in mind
13:26
let’s take a look at Kathy our purpose
13:32
is to help people create real wealth and
13:34
the way we see real wealth it’s where
13:36
people have the money and also the
13:37
freedom to live a life on their own
13:39
terms we believe the best way to create
13:41
this kind of passive income this ongoing
13:43
cash flow is to invest in assets that
13:46
generate that positive cash flow real
13:48
wealth Network simplifies the process of
13:50
buy-in whole 0 state and buy-and-hold
13:52
means simply owning property that pays
13:54
you monthly positive cash flow you don’t
13:56
have to work forever so hard you happy
13:58
and welcome to the show thank you thanks
14:00
for having me
14:01
can you get this kind of an overview of
14:03
real wealth Network what it was and what
14:06
your purpose is sure well we are 24,000
14:11
actually almost close to 25 thousand
14:13
members now and we are here to help
14:17
people understand market cycle give you
14:19
the education you need to be able to
14:21
succeed without having to spend all the
14:23
money you would hope to invest in real
14:25
estate on education but then once you’ve
14:28
got the education then is actually
14:29
finding the heels so we have team shut
14:33
up and all the best markets in the u.s.
14:35
in those areas we find teams who know
14:37
how to find the deals get them totally
14:39
renovated and rent ready have property
14:41
management in place to make for a what
14:43
we call a real turnkey rental property
14:47
yeah actually I was on your site
14:50
the other day and I saw I was looking at
14:52
Jacksonville and really interests in
14:53
Jacksonville personally yeah and I saw
14:56
that you still have homes that are 1500
15:00
square feet for $100,000 that’s just
15:02
incredible to me do it and then and
15:05
100,000 is a finished house I mean
15:07
that’s already renovated that’s not
15:09
buying a fixer-upper that you’re going
15:11
to go on and put 30 or 40 thousand
15:13
dollars in that’s move-in ready right
15:15
that’s right you got it yeah it’s
15:17
amazing I know you have a thing called
15:19
the Academy can you talk a little bit
15:21
about that yeah you know we’ve been
15:23
giving free education for for 13 years
15:26
tell me about the types of investments
15:29
that you have in other words I know we
15:32
were talking about the single-family
15:34
home in Jacksonville Florida where I’m
15:36
assuming you’d put me in contact with
15:39
you with your network representative
15:40
there and if I wanted to buy that it’s a
15:42
strip transaction and we’d like to start
15:45
people with single-family homes because
15:47
that’s that’s easy to understand
15:49
from there then I mean maybe maybe you
15:52
want to jump right into multifamily but
15:53
I gotta warn you everybody wants to be
15:56
in multifamily but there’s a lot to it
15:58
and there’s a lot of dollars chasing it
15:59
and cap rates are low and prices are
16:01
high and you know as a new investor I’d
16:03
be very careful so I think the key here
16:06
is that you have a variety of different
16:08
programs let’s let’s talk about what I
16:11
call the anatomy of the deal
16:13
what if we were talking about the
16:16
hundred thousand dollar property in
16:18
Jacksonville Florida and I said you know
16:21
I’d really like to do something about
16:24
that I probably want to move forward
16:26
with it what’s the what’s the next step
16:29
what happens you get assigned an
16:32
investment counselor who will walk you
16:34
through the process and kind of figure
16:36
out what you’re trying to achieve where
16:39
you are today what steps you need to
16:41
take to get there and how we can help
16:42
you do that yeah this is boomer income
16:45
ideas and say we’re talking about income
16:47
let’s just to kind of finish up the
16:50
anatomy of this transaction the bottom
16:52
line is what you know what kind of
16:53
income can we make from it so this
16:55
$100,000 property in Jacksonville
16:58
Florida after all expenses taxes
17:00
insurance property management fees
17:03
things like that what what can I expect
17:05
to net it just it depends if you
17:08
financed it or paid cash if you financed
17:10
it you’re always going to get a little
17:11
better return so I’m going to say
17:14
anywhere between eight and twelve
17:15
percent if you pay cash if you finance
17:18
it can be anywhere from twelve to twenty
17:21
five percent again depending on the area
17:23
what type of investor would real estate
17:26
not be the right choice for ya I think
17:29
it’s people who don’t get along with
17:31
people honestly I mean there’s there’s a
17:33
place for you to play in real estate but
17:35
but if you don’t have the ability to
17:40
treat your property managers well and
17:42
you’re ten as well if you just worry a
17:44
lot you’re you know it’s not going to be
17:46
a pleasant experience for you’re better
17:48
off doing like flips where you’re in and
17:50
out you don’t have to if you’re somebody
17:52
just starting out and you have no money
17:56
you’re just starting over maybe that
17:59
doesn’t mean you can’t play it just you
18:02
know come join the network it’s free
18:04
I’ve had people that have been a part of
18:06
our network for maybe seven years and
18:08
they just loved it they were obsessed
18:10
with it but they just weren’t ready to
18:12
do anything and all the sudden they
18:14
would come on into money now for our
18:17
number one in most popular episodes you
18:18
know unless you lived in a cave over the
18:21
last twenty years you know that the
18:23
Internet has transformed the way we live
18:25
today many people make a living offering
18:28
goods and services over the internet and
18:30
those businesses many of them are now
18:32
very established and profitable and for
18:35
sale the best place to find those
18:37
businesses are on Justin cooks Empire
18:40
flippers let’s take a look at number one
18:44
the five-step process for selling your
18:47
business with Empire flippers
18:50
the first step is finding out how much
18:52
your business is worth with our free
18:54
valuation tool the vetting process is
18:57
the second step in our process every
19:00
business that goes live on our
19:02
marketplace is first vetted to make sure
19:04
it is a legitimate business earning real
19:06
revenues if your business passes our
19:09
vetting you will move to our third step
19:12
which is having your business go live on
19:13
our marketplace with your business live
19:16
on our marketplace you will move the
19:19
step for the sales process your business
19:23
is sold this is really move to Step five
19:26
where we migrate your business to the
19:29
new owner this is an important process
19:31
to transferring the asset over to the
19:34
new owner
19:34
hi Justin thanks for joining us today
19:37
hey Dan thanks so much for having me on
19:39
I appreciate it before I get started in
19:41
other questions can you give us kind of
19:42
a little bit of background of Empire
19:44
flippers how you guys got started what
19:47
you do say I’m a partner to company
19:49
called Empire flippers at Empire
19:50
flippers calm and we help others buy
19:52
sell and invest in websites and online
19:55
businesses I saw something about you
19:57
just you’re an Inc I’m sixty we kind of
20:01
came into this world we were we were
20:04
given the the PC when we were in our
20:06
early 20s we were given two VCRs and
20:08
things like that but we didn’t grow up
20:10
with them so yeah you know so when we
20:13
talk about the online world for a lot of
20:16
this that’s like talking about
20:18
a moonshot so let me be just totally
20:20
clear I I wouldn’t say this is for
20:22
everyone so there are some either basic
20:25
skill sets you have to have or you have
20:27
to know how to find the people that have
20:29
those skill sets and so we’ve done
20:31
workshops here we’ve gone back to the US
20:32
and done a few workshops where we kind
20:34
of lay out the process for buying an
20:38
online business like some of the things
20:39
you need to look for and due diligence
20:40
you need to check in the business
20:42
because there are you know an inherent
20:44
risk specific risks for online
20:46
businesses that you wouldn’t have with a
20:47
laundromat for example so one of the
20:49
things that I really love about your
20:50
site is that you give a lot of
20:52
information you click on more
20:54
information about this particular
20:55
listing and even though you won’t give
20:57
the name of the actual business itself
20:59
you’ll show them you’ll show that the
21:01
graphs of the
21:03
the number of impressions or views over
21:05
a period of time the income that was
21:07
generated the gross profit that was
21:09
generated so you can really get a pretty
21:10
good feel and there’s a bunch of
21:12
different online models obviously share
21:14
you a link or give you a link to talk
21:16
about like the 11 different online
21:18
business models okay
21:19
Amazon affiliates one being Amazon FBA
21:21
one being Adsense it really goes into
21:24
depth about each one okay that that’d be
21:27
very helpful because that’s that’s
21:28
exactly what what I’m getting at what
21:31
are the different categories you know
21:33
some seem to be just totally virtual
21:34
what do I do
21:36
what’s the best opportunity for me to do
21:40
that and at what point do you do you
21:43
look at my background on my personality
21:45
and just say Dan this is not the right
21:47
thing for you there are limits right so
21:50
you have to be able to work with
21:52
WordPress and in general here’s what we
21:53
say that you have to you have to
21:55
understand WordPress you restrain
21:56
domains and hosting you have to have at
21:59
least understanding of the general types
22:01
of monetization and I’ll give you that
22:03
link with eleven different types so you
22:05
can you know give you kind of a basic
22:06
understanding so I wish I had better
22:08
news there I actually think no I think
22:10
there’s actually just and that’s exactly
22:13
what we want we don’t want the the sales
22:15
job the fluff and all that stuff we want
22:18
the real story so that you go into it
22:20
knowing what’s going on yeah man it
22:23
sounds great and the other thing I
22:24
mentioned to me JSON obviously Empire
22:26
flippers calm my Twitter account at
22:28
Empire lovers but if you’re considering
22:30
buying we put out a piece of content on
22:33
that I think that’s really helpful your
22:35
other guest ace Chapman and I we have a
22:37
podcast together on web equity show and
22:40
we made season two all about you know
22:42
from knowing nothing all the way through
22:45
negotiating the deal and what to do the
22:47
strategies for building it out after the
22:49
fact so it’s like a ten episode season
22:51
Justin thanks again thanks Dan have fun
22:55
man all right bye bye
22:57
lunch commits liftoff we have liftoff
23:00
with Apollo 14 three minutes past the
23:03
hour
23:06
the tower is play Houston is patrolling
23:11
2016 second stage of all program started
23:14
1422 prophesy to us
23:18
[Music]
23:31
you
23:33
[Music]
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