Does anyone on /biz/ own a popular franchise? I have a few questions.

I own Kneepads R' Us

Profits keep comming, hard and fast

I dont own one, but ive looked into it.

McD's costs between 900,000 and 2.5 M for most (town square NYC, or london way more).

When they flash numbers (which they try to always hide) they talk in terms of gross sales often in 2 million - 4 million (claimed), and and return 5-15% of income from a sale.

Lots of ifs, ands, buts...

McD's was a great way to make money, and they allow you to buy multiple franchises unlike 7-11 (checkout http://www.unhappyfranchisee.com/ ).

McD's are clean, expensive, but they have TONS of competition these days...

Would you rather go to McD's or In'N'Out, habit, or another $1-$2 more expensive but much nicer burger...

I have not bought a burger at mcdonalds for a long time, but I go there on road trips 100% of the time for the bathroom, ice cream cone, coffee, egg mcmuffin, etc... Huge menu.... not like old school mcdonalds...

Franchisors also contorl the sale of the franchise, and can eliminate up to 20% of the sale value when you are ready to retire...

McDonalds can be a gold mine, but very risky if you start one in a new location like the midwest, or on a highway, or main street of a small highway town that gets bypassed... Lots of hidden risks.

Best piece of advice...

Work at the franchise you want to buy for 6 months as a bitch... don't say you are interested in buying one... be humble... learn the business...

>>1444581
friend #1; ACE hardware store. start up $ = land , building , ~1 million inventory. financed 100% through bank (has multiple businesses with the bank already). He makes enough profit that the bank just loaned him 100% of the startup for his second hardware store.

friend #2: 7-11 convenience stores. has 3 of them. hates it , everyone steals, but he went from "I'm retiring in 15 years" to "I'm retiring in 3 years," really quick.

this is all the info they will give up. and there are no "safe" business opportunities.

>>1444673
I live in the north texas area near dallas and there are about 700,000 people in my county. It's supposedly one of the fastest growing areas in the country. Do you think that would be a sufficient demographic?

>>1444684
Thanks man. I'm kind of looking to steer away from gas stations though. It would be optimal if I could stay in the fast food category because it severely limits the possibility of theft.

>>1444702
I think my buddy means all his employees steal, including the managers. he's paying ~45,000/year to managers which is a good wage in this non-metro area and he still cant find one who wont steal.

and also...

location, location, location

>>1444730
Thanks for all the info. How did you get to know so many successful people? And would you dissuade anyone from investing in a franchise with a partner?

>>1444614
How much to get started? Can I shadow you for a few weeks

>>1444748

I own/run a small business that manufactures luxury items so alot of local wealthy people are my customers. But really its just networking/talking to/enjoying people. (the ACE guy was a customer of mine. the 7-11 guy took over a corporate run store where I buy coffee every morning) you need to be a little bit of a salesman to get people talking, then you shut up an listen. everyone likes to brag.

I know nothing of partnerships. Have seen very few. I do know to NOT do business with family or friends unless your peoples have a history of doing that (jewish and other)

>>1444698
what area? i live in Plano/Richardson.

Just where are you thinking about building a mcdonalds?

>>1444908
I'm on the border of Frisco/McKinney/Prosper. I'm in the initial brainstorming process so I haven't really pinned down a location yet.

>>1444967
not really sure that would be the best place tbqh. i would scout around east plano and murphy. i know theres a good amount of mcdonalds in west plano (two different franchises)

not really too familiar with shit that far north though but im not sure if those types would be your typical mcDs regulars you see

>>1444979
Yeah I agree. I'm not too set on mcdonalds. I'm more just getting a feel for what kind of opportunities there are in the franchise industry and getting input from people who might have some knowledge or experience. Have you noticed any opportunities in the area?

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>>1444989
desu not really. i think your best bet would be east plano but there is probably a reason why there isnt much new business over there.

you could try to hack into the west plano health foods stuff since those are getting really popular. or try taking it to highland park/smu area but that will definitely be more expensive

maybe try to appeal to all those college students at UTD but desu seems pretty saturated down there. but you never know

best of luck to you. post about your ventures in the future since i would love to help a /biz/ness man's business out if it opens in the area

>>1445024
Will do! Thanks for the prompt responses

>>1445040
A fool and his money are soon parted. Best of luck to you though. Bout ~200k/year if you do it right, I hear.

>>1444581
>

a friend got a Quiznos 8 years ago, heard the story, total scam, he got stuck losing money hand over fist, dont know what happened but read quiznos was notorious for scamming their 'franchisees' aka suckers, so i imagine they are not unique in the franchise world. i have never seen a happy person working at subway for instance