Celebrities Behind the Biggest Names in Franchises
Have you ever wondered what celebrities have extended their fame and brand into the franchising world? Plenty of top names like Peyton Manning, Mark Wahlberg, and Jimmy Buffet are involved in the world of franchising.
Why would they enter the venture of franchising? This is because there is a easy pathway built for someone to launch into owning a franchise. Owning a franchise chain offers them to own multiple locations and consistency - consistency between quality, brand recognition and assurance behind operation.
So, you may be wondering some of the franchises behind the names of fame...
Mark Wahlberg: F45 Training Franchise
Mark Wahlberg is an American actor most famous for his leading role in movies such as Ted, Transformers, and more. Wahlberg has extended his brand into the fitness world with being the Chief Brand Officer of the F45 Training Franchise.
Jimmy Buffett: Krispy Kreme Franchise
Jimmy Buffett is a singer, song writer and businessman who most famously known for his song Margaritaville. Buffett is also a apart of the sweet business venture, Krispy Kreme, where he has co-invested in many locations across the state of Florida.
Peyton Manning: Papa Johns Franchise
Peyton Manning's claim to fame is his career as a quarterback in the NFL. Along with being a professional football player, he also owns as many as 31 Papa John's franchises!
Shaquille O’Neal: Five Guys Burgers & Fries Franchise and Auntie Anne's Franchise
Shaquille O'Neal is a former NBA player who is now a sports analysis and a DJ, known as DJ Diesel. Shaquille has a love for fries and poured his heart into his passion by owning 155 Five Guys Burgers and Fries locations. Along with his 155 Five Guys locations he also owns various Auntie Anne's locations and 24-Hour Fitness franchises. Shaquille ended up selling all 155 of his Five Guys franchises in 2016 and went on to helping open his own franchise chain, Big Chicken!
Quality Control and Mel Carter: Bojangles Franchise
Quality Control ,founded by Kevin Lee also known as "Coach K", is the music label behind popular rap artists such Migos, Lil Baby and City Girls. Mel Carter is an American singer and actor who is most famous for his hit song "Hold Me, Thrill Me, Kiss Me". Mel Carter and "Coach K" have worked together and are now part owners of the Bojangles franchise. They have perviously owned several locations, but have now signed an agreement to develop and open 14 more franchises across Atlanta, GA.
How Much Do You Have to Spend?
Whether you’re purchasing a whopper from Burger King or joining the Burger King franchise system, the old mantra holds true: there’s no such thing as a free lunch. When you first get started running a franchise you need to pay a fee to allow you to enter into that franchise. These fees are the largest fees that you will normally pay a franchisor and typically range between $5,000 and $1,000,000 depending on the franchise. The franchisor charges this fee as a way to recoup the costs of expanding the franchise and to continue to grow. From a franchisee perspective, this is a major outlay and can take a long time to make back, but is a necessary step. Aspiring business owners must understand how much capital is available to them so they can ascertain how much they can afford. The cash you have at your disposal is known as liquidity, and there are numerous ways to increase your liquidity above the balance in your bank account. As a result, many people don’t realize how much capital they actually can use for investments, like launching a franchise branch. We’ll run through some of those methods below.
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