Welcome back, scholars. A new year is upon us and it's a leap year. We have 366 days to make an opportunity & we have 52 weeks to make it right. That's more than enough. Here's how you start progressing your final journey:
- Making a financial resolution
This is why saving in the past is important. Cash is still king but it's no longer unbreakable. You need to have that cash partly in a savings account & you need to use cash to invest as well. For example, securing a regular property. Buy with cash and have a good line of credit, that way you retain liquidity and after mortgaging it, you can rent it out. Use a HELOC to invest more equity into your home & consolidate debts and lower interest rates. I recommend getting one that isn't a high amount. I'd say anything in the mid $10,000's and paying over the interest monthly to cover principal. So here's my resolution:
- Cut out heavy expenses
- Spending more time making lump sums
- You make money by serving the people, notice a glaring hole that's a necessity and fix it.
- Move to at least a mid-sized city and serve the city and metropolitan area
- Do favors for local hospitals, schools, city council buildings & promote your name on the local news at least
- Spending hours mastering your craft
- Find out the best skills companies want & acquire them
- Speak another language, translators are making more as we need into multiculturalism
- Purchase stock, REIT's & crypto
- Start buying cheap land
- Food Supplier
This is one thing that flies over the heads of many. Study Agriculture in College. Get a career in Environmental Science. Reside in the Midwest or West Coast and acquire land. Acquire land for agriculture. Build your knowledge and use your resourcefulness to get people to invest in you & work for you without offering capital but offering company equity. You expand on this business quick after you've proven you are a legitimate business owner. File it under S-Corp and a LLC. On that land, you grow food, butcher meats and sell supply bulk. You get the seeds, you dedicate yourself to this craft. Also, get a cheap, small and yet decent quality warehouse. That'll be where the food is transferred to. You'll need a small fleet of vehicles (preferably a SUV or truck). This is where your business credit would come up clutch or getting into private equity and selling minor equity to venture capitalists to invest in your business for business transportation and vehicle branding. Here's how to establish your business:
1 - Plan your Restaurant Supply Business
2 - Form your Restaurant Supply Business into a Legal Entity
3 - Register your Restaurant Supply Business for Taxes
4 - Open a Business Bank Account & Credit Card
5 - Set up Accounting for your Restaurant Supply Business
6 - Get the Necessary Permits & Licenses for your Restaurant Supply Business
7 - Get Restaurant Supply Business Insurance
8 - Define your Restaurant Supply Business Brand
9- Create your Restaurant Supply Business Website
10 - Set up your Business Phone System
Regardless of the size of your store or the types of products you plan to sell, you will need to budget for the following items:
1 - Space - Make sure your store’s location is conveniently located for restaurant owners. There should be ample parking and enough space for customers to get in and out with very little hassle.
2 - Inventory - Conduct as much research as possible to ensure you do not invest in items your customers do not need. Your stock will grow and vary, as time goes on and you gain a better understanding of your regular clients’ needs.
3 - Point of Sale Software - This will help you track and manage inventory, ring up orders, and identify trends.
4 - Cash registers - Make sure you have multiple open lanes, so that customers aren’t waiting at the check-out area.
5 - Furniture and Fixtures
6 - Marketing materials
7 - Insurance
8 - Payroll and related expenses
Next thing, you do is reach out. Places you need to check into:
- Soup Kitchens
- School
- Churches
- Mom & Pop's restaurant
- Restaurants
- Hospitals
- Jail/Prison
This is a great business idea but food is necessity to stay alive & a traditional staple so therefore it'll never be irrelevant and a permanent cash cow. You need to speak with the franchisors and franchises of franchised restaurants as a business relationship as they recommend people a lot. You want to be that referral and always make a profit but charge slightly less than the rest. That's how you win!
- Franchisee
I'll cover being a franchisee and a franchisor. First with being a franchisee:
To start franchising as a franchisee, follow these essential steps:
1. Understand Franchising: Learn the basics of franchising and the pros and cons.
2. Know Your Market: Conduct market research to understand the competitive landscape.
3. Develop a Business Plan: Create a comprehensive business plan that outlines your operational strategies and financial projections.
4. Figure Out Costs: Understand the startup costs and ongoing fees associated with the franchise.
5. Form a Corporation or LLC: Many franchisors prefer franchisees to operate under a corporation or LLC.
6. Secure Financing: Explore financing options such as bank loans, SBA loans, or personal investment.
7. Create a Franchise Disclosure Document (FDD): Work with the franchisor to develop an FDD, which is a legal document that discloses various aspects of the franchise agreement.
It's also important to evaluate the specific opportunities, costs, and requirements of the franchise, as well as to choose a suitable business entity and location. Additionally, understanding the market and surrounding yourself with a strong team are crucial for success.
Starting a franchise involves understanding the basics of franchising, conducting thorough research, evaluating costs, and securing financing. It's also important to form a suitable business entity, create a comprehensive business plan, and develop a clear understanding of the market and the franchise agreement. Surrounding yourself with a strong team and being aware of the advantages and disadvantages of franchising are also key factors to consider.
Here's a detailed rundown on the best franchises to own, my top 5 or 6 are far as cash flow:
The top franchises that generate the most cash flow include a variety of sectors such as fast food, real estate, and fitness. Some of the notable franchises known for their cash flow generation are:
- McDonald's: Known for its strong cash flow and global presence.
- Dunkin': A well-established brand with a strong cash flow.
- The UPS Store: Recognized for its robust cash flow generation.
- RE/MAX: A leading real estate franchise with a strong track record in cash flow generation.
- Wendy’s: Notable for its significant cash flow and brand recognition.
- Chick-Fil-A: Known for its strong cash flow and rapid return on investment.
These franchises operate in sectors such as fast food, real estate, and retail, and are recognized for their ability to generate substantial cash flow. It's important to conduct thorough due diligence and consider various factors before investing in a franchise to ensure it aligns with your business goals and objectives.
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The top franchises that generate the most cash flow cover various sectors such as fast food, real estate, and retail. Franchises like McDonald's, Dunkin', and The UPS Store are known for their robust cash flow generation, making them attractive options for potential franchisees.
Here's a detailed analysis on the most profitable franchise sectors in the United States of America:
- Real Estate: Both commercial and residential real estate franchises are known for their profitability, with substantial estimated growth in the market.
- Food Franchise: The food industry, valued at more than $1.5 trillion, offers significant profitability, with fast food franchises being a prevalent and financially rewarding segment.
- Fitness: Gym and fitness franchises, such as Anytime Fitness, have low-cost investments and high revenue potential from membership fees.
- Healthcare: Home healthcare franchises, like Interim HealthCare, are recognized for their profitability and growth.
These sectors offer attractive investment opportunities due to their strong financial performance and growth potential. When considering a franchise, it's important to conduct thorough research and due diligence to ensure the chosen sector aligns with your business goals and objectives.
To end this off, here's low-cost options:
Some of the best low-cost franchising companies include:
- Cruise Planners: A travel franchise with a franchise fee of $6,995.
- Dream Vacations: Another travel franchise with start-up costs of $9,800.
- Coffee News: A publication franchise with an initial investment starting from $11,000.
- JDI Cleaning Systems Inc: A cleaning franchise with an initial investment starting from $3,000.
These franchises offer relatively low start-up costs and can be attractive options for individuals looking to enter the franchising industry with limited capital. It's important to conduct thorough research and due diligence to ensure the chosen franchise aligns with your business goals and objectives.
- Tactical Training Company
To start a tactical training company, particularly in the firearms training sector, the following steps are essential:
- Research the Market: Understand the demand for firearms training and the specific services needed in your target market.
- Legal and Financial Requirements: Research and comply with the legal and financial requirements for starting a firearms training business, including licensing, permits, and insurance.
- Business Entity and Financing: Choose the right business entity and develop a solid financing plan for your business.
- Certification as an Instructor: Obtain the necessary certifications to become a firearms instructor, such as NRA certification or other recognized credentials.
- Curriculum Development: Develop a comprehensive curriculum for your training programs, covering topics like basic shooting fundamentals, concealed carry, and home defense.
-;Training Site and Equipment: Find a suitable location for training and invest in the necessary equipment, gear, and ammunition.
- Marketing and Branding: Create a strong brand identity for your training company and implement effective marketing strategies to attract clients.
- Testing and Training Your Curriculum: Test and refine your curriculum to ensure it meets the needs of your clients and complies with all legal requirements.
- Conducting the Class: Once everything is set up, start conducting your training classes, ensuring a high standard of instruction and safety.
It's important to note that starting a firearms training business requires careful planning, adherence to legal regulations, and a strong focus on safety and responsible gun handling. Additionally, seeking advice from legal and business professionals is recommended to ensure compliance with all relevant laws and regulations.
- Starting a Mixed Martial Arts Gym
In the age of the UFC, One & Bellator, Mixed Martial Arts has broken through to the mainstream due to the rise of fighters like Brock Lesnar, Fedor Emelianenko, Mark Coleman, Kevin Randleman, Quinton "Rampage" Jackson, Shogun Rua, GSP, Jon Jones, Daniel Cormier, Chael Sonnen, Michael Bisping, Yoel Romero, Anderson Silva, Brian Stann, Conor McGregor, Tim Kennedy, Alistair Overeem, Josh Barnett, Frank Mir, Shane Carwin, Junior Dos Santos, Randy Couture, Rashad Evans, Lyoto Machida, Rich Franklin, Chuck Liddell, Jake Shields, Nick Diaz, Nate Diaz, Gilbert Melendez, Gabriel Gonzaga and now the rises of Cory Sandhagen, Aljamain Sterling, Alex Pereira, Tom Aspinall, Leon Edwards, Shavkat Rakhmonov, Brandon Moreno etc. adds to the fire that young men want a Testosterone era back & with schools being a heaven for bullying and the teachers condoning bullying, it's no way out but violence. Let's say you transfer schools, same shit so to teach young men to be disciplined but dangerous, own a MMA gym. This is why staying in shape & adding experience is important whether it's MMA, Wrestling, Grappling or the Special Forces in the Military. You'll need a site like an LinkedIn and vet for true martial art instructors & work with fighters, law enforcement and veterans who are trained and willing to teach. You need a core of martial arts to teach. Teach Judo, Combat Sambo, Greco Roman Wrestling, Folkstyle Wrestling, Freestyle Wrestling, Pankration, Dutch Kickboxing, American Jiu Jitsu, Brazilian Jiu Jitsu, Muay Thai, Kyokushin Karate, Eastern European Boxing & Western Boxing. To start a martial arts gym, you can follow these general steps, which are also applicable to starting a firearms training business:
- Research the Market: Understand the demand for martial arts training in your target market and the specific services needed.
- Legal and Financial Requirements: Research and comply with the legal and financial requirements for starting a martial arts gym, including licensing, permits, and insurance.
- Business Plan and Financing: Develop a comprehensive business plan and secure the necessary financing for your gym.
- Certification as an Instructor: Obtain the necessary certifications to become a martial arts instructor, ensuring that you are well-qualified to provide training.
- Training Site and Equipment: Find a suitable location for training and invest in the necessary equipment and gear for your gym.
- Curriculum Development: Develop a comprehensive curriculum for your training programs, covering various martial arts disciplines and skill levels.
- Marketing and Branding: Create a strong brand identity for your gym and implement effective marketing strategies to attract clients.
- Testing and Training Your Curriculum: Test and refine your curriculum to ensure it meets the needs of your clients and complies with all legal requirements.
Starting a martial arts gym requires careful planning, adherence to legal regulations, and a strong focus on providing high-quality instruction and a safe training environment. It's important to conduct thorough research and due diligence to ensure the success of your martial arts gym.
- Joining the Military via Guard or Reserves
Why not? I recommend the Marine Reserves or Air National Guard. You need to be elite! I recommend using this as a building block for your career so go for a commissioned officer route. Train, go to OCS. Graduate, advance to The Basic School in order to get your MOS (military occupational specialty) and start your career. As you'll go through 2 four week training programs in your freshman & sophomore years and a six week training program in your junior year. As a former military officer in the Marine Corps and MARSOC, I say go Marines. You train in Quantico, you work with government departments such as the FBI. You develop political intelligence and leadership abilities, the same skill (leadership) would runs 9-10 figure companies, sports dynasties, military empires etc. It's the most valuable skill in modern America + it keeps you in tight shape & you master weaponry.
- Working in a plant, get an internship, become a real estate agent, pay for college, join the reserves/guard, join a fraternity & then graduate with at least a bachelor's degree and pursue that career
That's a long header but young men, this chapter is for you. If you don't have a degree, trade or skill and you're working, get out of the fast food jobs, these retail jobs. It's a bunch of bullshit that doesn't pay enough. If you're located in the Midwest, joining the plant is really an advantage because you have a worker's union like UAW so you have rights but let's say you don't, still go to a plant paying weekly! Learn a skill like being a machine operator and shoot for at least $18.50 a hour and 60 hours a week. That's $1,100 per week before taxes. Save that money up. Work for half a year so put in 6 months, save, have a 401k then use that money to study, pay for & pass your state's real estate exam but before have 2 internships, 1 in real estate and 1 in whatever you will be getting your degree in. Put in your 60 hours of studying before being an intern then coming in as an entry level real estate agent making anywhere from $60k to $70k. Let's say $70k annually, you can pay off college, study in college and work. You'll be more comfortable than 95% of college students. Back to the guard/reserves, serve farthest away from combat related units. You could start out of HS, go up the ranks and get to NCO level and get into recruiting duty while working and many careers offer benefits for the military community + you can do community service with my local small businesses and have credit benefits which you should use to build credit & have it on standby if you want to purchase something such as a property or car and maintain liquidity on it so use it to pay in fractions on something as a note so you're not pulling chunks of credit and you're paying back half before the date and the other half on that said date. That boosts your line of credit easily and the military also has tuition assistance even if you're paying as well. That's more opportunity and less debt & that's if you don't scholarship before.
- Luxury Transportation
This is why living at least in the metropolitan area of a major city is important. NY, Phoenix, Chicago, Detroit, Dallas, Philadelphia, Minneapolis, San Diego, Los Angeles, Seattle, Boston and Columbus all have great metro areas. All my extroverts, this is a great opportunity. The big city has rich people, famous people and events 24/7. Provide a private luxury transportation service available to the upper middle class & rich. Promote it in rich suburbs within the metropolitan area and send them to the city in style. This is where private equity & venture capitalism comes in clutch again. Sell minor equity to major shot callers and promote your business through them & also start a social media promoting your service and naming notable clients & their testimonials along with going online and starting an AdSense to market to these people.
- Politics/ESG
No businessman worth their salt is politically unaware. No businessman that's good watches sports, movies more than they understand and watch the economic and political moves going on around this country. God is #1 always but as far as nation, politics is #2. Never trust a businessman who doesn't mention election seasons, bills getting passed, political stances etc. He's either a fraud or ignorant. People use this "Politics is fake" shit to deflect so is sports but you watch it though just like I do. It's all a script, Vince McMahon was the only genuine man in sports. Look at someone like Vivek Ramaswamy, I have my plus and minuses about him but it's unlikely he wins, he's trailing Nikki Haley, DeSantis & Trump in Iowa and he's a Midwesterner, worst thing to do is lose meaningful states in your own region. Win or lose, it's a win for him. His name & Roivant Sciences capitalize big. He gets business deals, TV offers, publishing attention etc. for this run. As a businessman, you need to analyze politics to consider running locally to expand your name or just keeping with the macroeconomic aspect in the capitalist country that you reside in. This is where black businessmen go wrong, more pop culture and rappers becoming entrepreneurs rather than leveraging and comprehending the importance of political supremacy. Next, ESG. Environmental, Social & Governance. As Investopedia states, Environmental, social, and governance (ESG) investing refers to a set of standards for a company’s behavior used by socially conscious investors to screen potential investments.
Environmental criteria consider how a company safeguards the environment, including corporate policies addressing climate change, for example. Social criteria examine how it manages relationships with employees, suppliers, customers, and the communities where it operates. Governance deals with a company’s leadership, executive pay, audits, internal controls, and shareholder rights. For example, as a black business owner. We promote D. E. I., diversity is a strength. Damn what Elon Musk or Charlie Kirk says.
- Learning 2 languages
I know multiple languages but one language I recommend is French because it's the greatest language behind English & Spanish as we've reached an era of peak multiculturalism. Knowing just English is like not knowing cursive. You're behind educationally. It's another skill that easily pays the bills. If you live in a diversity hub like I do, get into translation. The career field is getting less and less acceptable of those who are 1 dimensional. Time to expand your repertoire.
- Degrees
Damn, what the working class has to say. You never see the true rich who are genuine with their message say degrees are worthless. The people like an Elon Musk are selling you short, these people tell you that degrees aren't valuable while they spend millions getting their children into Harvard, Dartmouth, Vanderbilt, Michigan, Penn, Tulane, Rice, UCLA, Stanford, Princeton, Northwestern, Chicago, UT Austin, Georgia Tech and more while you're up here talking about a damn trade. Getting shit out of the mud rather than being resourceful and getting into the opportunity, not the bag, not the grind but opportunity. Get at least a Bachelor's degree either in IT, Computer Science, Political Science, STEM, Accounting, Civil Engineering or Architecture.
- Skills & Certifications
Face the facts, a great entrepreneur was a great employee. Every man who doesn't know his next move needs to swallow his pride and research "skills most valued by employers". Leadership, we explained that.
What is leadership?
The way to have a group follow your command and it results in a successful effort, chemistry increase and leadership is a risky game. You take the credit in victory and shame in defeat. It takes specialized knowledge and rigorous dedication & execution to do it. No emotion in it, just logic.
Critical thinking is another. Let's do a rundown on critical thinking. It's a 5 point piece.
- Observation
- Problem-solving
- Analysis
- Inference
- Communication
Do you know how to work as a team?
Do you know how to be provide respectful vocal feedback?
Certificates also matter. Do you know software skills? Can you write in MLA, ALA, Chicago etc., these are the conversations we need to have and need to be executed on. Some of the best certificates you can get are:
- Google Data Analytics
- Google Project Management
- Google UX Design
- IBM Data Analytics with Excel and R -Professional Certificate
- Google IT Support
- Meta Marketing Analytics
- IBM Cybersecurity Analyst
- IBM Data Science
Do you know SPSS, RStudio, Tableau, Stata, Python, Graphpad, Excel, PSPP or SAS? Notice I didn't mention JavaScript, that's elementary.
- Buy with Cash
Purchase with cash. If you're not wealthy, get a used car in great condition off the lot cash. Keep your assets low. With property, the limit before the IRS gets involved in 10k cash. Put in $9,500 cash. Stop using credit like it's debit. Stack your credit cards for future use and use them to make money. Cash doesn't have a consistent trail, buy it and get it. Receive an copy of an invoice & a receipt. Know what you owed, know what you paid & keep earning. Use a bank card, use an emergency debit and use cash. Cash is King because if it hits the value, it's yours no funny business, no garnishing or anything. Payment complete!
- Limit Credit Card Usage
Once again, as I've stated. I'm team American Express for the benefits. I have a metal card but don't pull it out unless you're covering something that adds money to your net worth. Like if you own a franchise, buy cooking oil in bulk from your local wholesale bulk store like Costco. That's inventory. Inventory = cash flow. Marketing, use it. Marketing = cash flow but as far as repairs, damage or miscellaneous expenses, use cash to cover that then with paying back credit, half before the deadline and half on the day of the deadline to increase your limit and then operate that as a tool of liquidity. If you want something expensive like a new car but it's $100,000, I don't care what your credit limit is. Lease it and put some money into other ventures while you pay that car off chunk by chunk.
- Get a 9-5 & master it
Tell these make believe gurus to kick rocks. As I stated earlier, start off working as an employee to get your feet wet and establish discipline. Most people want to get entrepreneurs because they're socially inferior, undisciplined and with a trash work ethic. This isn't La-La Land, it's harder being the boss because as a worker, you follow orders. As a boss, you make them and use a blueprint to reciprocate a successful strategy. You're going to have a year where you're on the road 200 days a year. You're going to have times where you go to sleep in West Hollywood and wake up in Portland like I am. It's not I sit back and just watch it flow. You need many things. You need a corporate lawyer, registration, an accountant, an advisor, a staff etc. It's not for the lazy or antisocial.
With that being said, thank you for viewing. For all business inquiries, email me at shabazzfarrakhanuniversity@gmail.com, can be reached on LinkedIn, can be reached on X, formerly known as Twitter @RealSFarrakhan and Instagram @shabazzkfarrakhanesq.