Like McDonalds, burgerking, subway etc etc?
Thinking a lot about starting one.
Thinking a lot about starting one.
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I had tried to get a Tim Hortons,I could meet all requirements and even had the perfect location, I was actually approved for the location, but the guy selling wouldn't sell the land for the ridiculous offer I gave him even.
So I ended up about a million short of being able to do it. Sure wish I could come up with that extra money, I think my time line to open hasnt expired yet.Coming Soon! -
Only the franchiser (owner of the franchise) makes money, the franchie (you) gets a stable wage.---Comment
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Not entirely true. You also get value in the long term. A stable or growing franchise system imparts value to the franchisees locations, which is turn makes them more valuable for resale at a later date.
It's like buying a house on a mortgage: You get stable payments, until you decide to sell and you reap whatever improvement in value your property gained.Comment
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Oh that is laughable.
I have known three franchise owners.
Number 1 just owns two pizza companies now, even at one he and his family were very well off and rarely had to work it after a couple years.
Number 2 owned a few McDonald's. Each made him well over six figures a year.
Number 3 must be a franchise king and a size able dick to boot. He currently owns 3 out of the 5 McDonald's, 2 burger kings, 2 jack in the boxes, 3 taco bells, 2 kfc's, 3 subways, 1 olive garden, 1 red lobster, 2 quizno's, 1 red robin, and several other places around here plus apparently his empire goes south of here as well. He started everything with a Chinese/American restaurant long ago in our town. He is one of the few who can fire someone in town and really say you will never work again, and be about 75% right. He has a shitload of cash, land, equity, income, and everything else that makes one rich. Though like I said he is a super big dick.Comment
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there is a post in the GFY archives by a guy who used to post here named Hershie or something like that - if you're thinking of buying a franchise, find it and read it - owning franchises is slavery - sure you are your own boss but make no mistake about it your life belongs to the franchises. This guy owned a bunch of Dunkin Donuts franchises if I recall.
not to mention that for most franchises you need a net worth of at least a million to qualify and at least 250,000 liquid. Subway is less but from everything i've ever read about Subway you need a bunch of them to make a decent living.
most people think franchises run themselves - just find a good manager - check in on them once in a while and rake in the moolah.I moved my sites to Vacares Hosting. I've saved money, my hair is thicker, lost some weight too! Thanks Sly!Comment
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I owned a franchise for 17 years. Made a decent then very good living. Worked long hours but they were for my own company. Sold a few years ago after the parent company was also purchased. Got lots of money and still own and rent the real-estate to them.
ALWAYS find a way to eventually own the real-estate.
Served as president of the franchise steering committee, I will be happy to answer any serious questions on the telephone.Comment
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Hard work, hiring family members who by default do not fuck you over unlike Americans, willingness to sacrifice and suffer to save every penny to get ahead, great negotiators, and then for him lucky to get here early enough on to really get a foothold on the near restaurant monopoly he controls.Comment
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Ummm this is not what i was thinking about. The reason they become so astonishingly successful in America and not in their home countries us because there they are surrounded by other 'great negotiators'. Imagine if you were living in a city with a high percentage of 'great negotiators', how easy would it be for the average American to make it then other than as their servants ('employees') ?
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do a GFY search on username 'Hershie' and use keyword(s) 'donuts' - there are a bunch of threads over the years about franchises that he's posted. He knows of what he speaks, he owned the master franchise rights to Dunkin Donuts in upstate NY. he said he bailed before he had a heart attack before he was 40. you work for the company - they call every shot and what Hershie said in one thread, you can work your ass to the bone for 5 years and be ready to cash out and sell it to somebody else when suddenly the franchisor informs you that to keep your franchise you have to renovate all your stores to their brand new look and signage to the cost of 100K per store. that does happen. you don't have a say in that shit.
franchises aren't always just buying a job - if you get in on the right thing at the right time and work it as a family business you can lay the groundwork to wealth - i have an aunt and uncle who did it - actually 'had' - my uncle died many years ago and my aunt just died this year.I moved my sites to Vacares Hosting. I've saved money, my hair is thicker, lost some weight too! Thanks Sly!Comment
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real interesting would never run a franchise know alot of people that do and say it's alot of hardwork and frustrating hours.Comment
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What about cloth franchise? I am going to buy Italian one!Comment
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same thing with Red Lopster
both are darden restaurants
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I sale crack franchises cheap.Comment
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A man I knew owned 45 or so Burger King outlets (he started with one, bought it as a manager at that location in the mid-70's. He later grew his company a LOT and finished up with about 70 Burger King, 30 Pizza Hut and a smattering of Taco Bell.
He said it best. . . NO ONE will get rich (usually) with a franchise. The average franchise pulls down 30-50k per year in profit for the owner(s).
It takes a few to make decent money, and a great number to make more.
Actually, his model is similar to what many people are doing on the net. Hundreds of sites, none of which would be singularly profitable, that, taken as a group are quite successful.
With 80-100 franchises, if his numbers were accurate (And they seem to be, I was in his house a few times), the money can add up.
As others pointed out, though, I witnessed a man under the most severe type of stress. He had the dough, he had the cars, he had the women. And he had the responsibility and trouble that goes with all those franchises.
I think I am happier doing my little one-man show and making enough to be comfy without all that BS.Comment
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If that is the case then he either leased or sold them the land. Several of the waiters that worked for him at other locations all said he owned those as well so I had no reason to doubt what they said. I do however know for a fact that he owns the majority of franchises that i did list and was the owner of that entire plot of land that was once a farm feed store and empty land.
My way of knowing him - was i made some car models for him (duplicates of his real cars)Last edited by After Shock Media; 12-03-2007, 06:47 PM.Comment
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Most foreign people who move to the US are successful because they work together for a common goal. Those people from india will all work multiple jobs to put in for one family members dream to open a business, then they will all work at that business with the owner for next to nothing just to be taken care of until the point where the business is making enough money to sponsor another family member to open their own business, bring over more people to help run that one etc etc it just builds a huge network over time. Americans are usually too greedy for something like that to work.Top virtual hosts for under 10$? www.hostmylife.com | icq 50663030Comment
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It's becasue they have superior mental agility where in their homeland they are surrounded by others with superior mental agility its hard to make money. That's why they come to America and that's why one day you will be forced to clean their shit to make ends meet. If you have a pretty blonde sister they also like, their women are ugly inside and out.
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