IOWNEVERY1
Well-Known Member
does anyone know anything about franchise ownership or friends that do? Would you suggest owning one if you had the money too or do think they just take your money?
Franchise Ownership?
- Thread starter IOWNEVERY1
- Start date
Johnny Retro
Well-Known Member
Franchises are a great way to open up a business if you need someone helping you the whole way. You will, in most cases, make money. Its not ALOT of money, but its good money. You are aware most franchies require atleast 100 - 400k?
bluewavexx
Active Member
IM thinking franchise is the way to go. I personally like non franchise better but the truth is we live in a "big box" age, and people like the places they are comfortable.
bluewavexx
Active Member
Any cool ideas? I am looking to go to the next level in terms of earning money.
Johnny Retro
Well-Known Member
Think of places that you love that arnt around in your area. Like where im at, i know a jack in the box, super sonic, and in and out burger would make a killing
bluewavexx
Active Member
im disadvantaged because i live in a rural area with about 2500 people a in 30 mile radius. I have a decent job but i want more.
IOWNEVERY1
Well-Known Member
they don't have to cost that much.....subway which has been rated the #1 or #2 best franchise in the past 4 years is about 150k which isn't that much
dam612
Well-Known Member
yea i hear subway is a good one, easy training, no complicated fryers and shit. you just need to train a few highschool kids how to make the sandwhiches. Start up a Chipotle, they make banging food and ive never seen one not packed. theres gota be good money in that. I have a nice sum of money coming in in the future and i was throwing around the idea of a franchise.
thedoc08
New Member
My understanding is that In-N-Out Burger is not a franchise. Jack in the Box and Sonic both require an excess of a mil net worth, with at least three-quarters of a mil liquid. They also require you to have the capability of opening more than one location.
Johnny Retro
Well-Known Member
Yea i was just assuming those to be franchises, guess i was wrong. But you get the point, open up somthing thats popular thats not in your area
Brick Squad
Active Member
Haha
so you cant drop a duffle bag full of cash on a corporate guys desk and just be like
'lemme open like 2 subways' ?
if not too bad seems like a good way to spend any life earnings you might have
so you cant drop a duffle bag full of cash on a corporate guys desk and just be like
'lemme open like 2 subways' ?
if not too bad seems like a good way to spend any life earnings you might have
bluewavexx
Active Member
I wish I could open a white castle, but its family owned... Who doesnt like to a bunch if those?
FriendlyGuy
Well-Known Member
I would never get a franchise.. you have to give up a good percentage of the profits.. BUT I guuuessss its cool to have but I PERSONALLY would use the money toward something else...
i have a family member that bought 2 subways years ago, i think he was in at about 40k each, way more now, you wouldn't believe the cash he makes
TshirtNinja
Well-Known Member
A franchise limits you to there standards in all aspects. Too many rules and contracts my friend. just my .02 though
franchises are good b/c you get the benefit of VERY LARGE, VERY INTRICATE, AND VERY COMPLETE marketing campaigns that reach both your selected market and the entire nation, in exchange the franchisee gets to absorb most if not all the start-up costs.
they are bad b/c you are bound to their marketing projects and you are limited in what you can offer.
i know a guy who opened a restaurant, it was a hit in his city, instead of opening a second one, he franchised it. didn't take the risk of loosing the money, and he makes money off every steak, fry, slice of pie, cup of soda, whaterver the other restaurant sells...
they are bad b/c you are bound to their marketing projects and you are limited in what you can offer.
i know a guy who opened a restaurant, it was a hit in his city, instead of opening a second one, he franchised it. didn't take the risk of loosing the money, and he makes money off every steak, fry, slice of pie, cup of soda, whaterver the other restaurant sells...
TshirtNinja
Well-Known Member
yes but we are talking about the other side as the franchisee not the franchisor... Being a franchisor is AWESOME. It's basically free money to promote your own brand.
Franchise ownership is not all it's cracked up to be unless you have the cash to support it. Hence the use of credit, and financial checks. There was a series on franchising where one of the franchisers had to talk 3 of his franchisee's out of suicide because the economy had fallen into recession. I think he was for Hardee's or something?
Pro's of owning a franchise are that you don't have to advertise. That's why you pay the franchise dues. They are basically turn-key money making machines. You don't have to ask for assistance from the SBA, or banks. They do that for you.
Con's of owning a franchise are high turnover, and lots of paperwork. Plus you give up a nice slice of the profits to the franchiser. And they can be quite expensive, and take up to a year or so to show a profit on the franchisee's end. But after that...
Good luck in anything you decide to do.
Pro's of owning a franchise are that you don't have to advertise. That's why you pay the franchise dues. They are basically turn-key money making machines. You don't have to ask for assistance from the SBA, or banks. They do that for you.
Con's of owning a franchise are high turnover, and lots of paperwork. Plus you give up a nice slice of the profits to the franchiser. And they can be quite expensive, and take up to a year or so to show a profit on the franchisee's end. But after that...
Good luck in anything you decide to do.