From Worker to Owner Does $5m in 2015 Franchise Model with Josh Herron of 1800GotJunk

Josh Herron

In Episode #410, Nathan interviews 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.

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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:

  1. Franchisers must think like entrepreneurs to be successful.
  2. Owning a franchise will give you more freedom than you’d expect.
  3. 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