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