Has anyone here any experiences with being a franchisee (McD, subway etc.)...

Has anyone here any experiences with being a franchisee (McD, subway etc.)? I'm sincerely pondering the idea of applying for a contract when I have enough free cash, as a first step towards becoming an entrepreneur myself. Good idea or nah?

bump

McD, what coin is that?

OMG has cornered the McDonalds market. Fuck the franchise. Buy the moon rocket. OMG OMG OMG OMG OMG OMG!

There was an user a month ago who got a job at McDonald's. Wonder how he's doing now.

I have been told being a franchisee is almost never worth it, have a look at dominoes and their problems as an example.

Check to see if your state has a franchise tax... If it does, don't do it.

Basically you pay the company you are franchising, and then you pay the state for the privilege of trying to make a living

It does. Fuck my life, seriously.
Yeah, I heard the same. Even so, I thought it might be worth a try. But apparently the entry costs are pretty high for most well established chains that it would make more sense to start my own business instead of applying for a franchise.

I vaguely recall hearing a subway franchise costing like $300k. May be more now.

I also heard they were not particularly profitable (like $30-40k profit a year) but anecdotally some of the chains by me have, in recent years, completed very nice renovations so I assume they're doing all right.

As hipster scum, I'd rather visit a locally-owned business than a franchise. Just make it millennial-friendly and you'll be rolling in it.

OMG obviously you retard

as a non-hipster, this is true.

>a post that is actually about business managed to survive on Veeky Forums long enough to get 10 replies

bear season is officially here.

If I were to apply at Mc Donald's, I'd have to proof that I own at least €500k in assets. On average it costs around €850k total to get tthe whole thing rolling.

Regarding the renovations. Is it not up to the parent company to decide whether changes such as these are to be made. Franchisees have to fall in line and do as ordered. I could be wrong on that though. Even so, 40k annualy sounds good for a side thing but not as a main source of earning.

I guess it only really becoms profitable if you run multiple outlets.

Would you be interested in a chain restaurant (think of starbucks as an example) that serves "healthy food" (lots of vegetables or whatever the fuck) and sports a comfy atmosphere (and free internet) at the same time? If so, I might have just the right idea...

Not something I would do, unless you can afford like 5 of them. A franchise just seems like you're buying yourself another job, unless you're buying a ton of them for purely passive income.
This user has it right. Start a hip local eatery in a nice location and start selling franchises to other people.

Don't buy a franchise, almost all the legacy chains are seeing low profits. If you have the money to buy a franchise, you have the money to get a business loan and make your own restaurant that will take more work but bring you in 3 times the cash.

McDonald's is like 1mill for franchise. Sub way is 50k

It's really only profitable if you have multiple stores.
Source: my family is friends with a guy that owns 4 McDonalds in our city.

Hipster a bugmen faggots
Do you want to take advice from faggots?

lmao you'd be better off dumping half of your cash into S&P 500 and burn the rest in a dumpster

McDonalds can actually be pretty good. It’s just that in America they are staffed with ghetto low lifes most of the time. McDonald’s in Asia have better food and much better service.

Visit all the cool food places, bars, cafe's, food trucks, etc in your location. Not the sports bars or family restaurants, but the hip spots. Do this for at least a year to get yourself some better perspective on your local food scene. And if you do consider starting, don't even think about making it a chain while you're beginning. Your job will be to get all the cool peeps and hipster fags eating there and talking about it. If you can rent out a food truck during festival season to spread the name around. Once you have enough hype built up, start a separate chain at another hip location. Rinse repeat

Scrap that idea and open a pizza place. If you deliver and do online ordering, you'll make about 1 million a year in owner profit. Seriously.

Do they pay well? Then yes.

Here where I live, they are staffed by niggers and other refugees. We have so much in common, you and I.

Yeah I got that impression aswell. On their website, McD shows you a bunch of people as "examples of a sucessfull partnership" and all of them run multiple restaurants or are in the business since the 1980es .

The idea of doing a food truck has crossed my mind multiple times already. Since there are a lot of similar operations that run greasy stuff already, I thought about selling healthy stuff like vegetables or whatever to white collar types during lunch break.

I own 6 franchises locations.
And make sure you know why your franchising as opposed to building your own company; the main benefit your paying franchise fees for is the brand. There is also some backend support.

It is not easy to go back once your vested and tied into a 500 page contract.
I've met several, I mean literally several franchisees that have gaven up and sold for pennies or went bankrupt. The franchisors keep taking their fees wether you profit or not. And in some cases they treat you like an employee since they have u tied in with a crazy contract. But employees actually take money home every week u as a franchisee might not.
I would not do it again if I could go back.
I recommend you find something you have a passion for and build your own brand. Just remember new businesses fail ALOT it's really hard to build something big but if your willing to not give up when it gets tough, and learn how to quickly adapt to make things work then u can do it.

Do you make money with them? The pull that entering into a franchise contract has on me is exactly what you've described: the power of the brand, the backend support and the already organized logistical aspect. But by the looks of it, it would appear that I grossly overestimate those things.

Now I do make money. But it took like 18 months to start seeing income those were some tough times .
Keep in mind whatever bullshit promotion the franchisor tells you to offer you will have no choice. Things like that can piss people off.
They can force sell you all kinds of Crap for marketing or whatever they damn well please you won't have a choice.
And You'd be surprised alot of the franchisors employees that are giving the backend support are morons.

Whatever you do wether you start your own brand or franchise, make sure you master how to select, hire, train, develop and inspire the team members. Thats huge for a business
Employees like to feel they're a part of something, a part of the companies vision.

Thanks for the insights. Do you have any tips on the last part? I heard a lot of good about giving employees the feel like they are "co-owners" of the enterprise, so as to kindle their self interest of not just securing their next months income but also to have them do more than is necessary. Maybe a reward ladder of sorts?

The most important piece of a franchise is location. The real estate you purchase

The trick is finding good leaders but when you do they make shit so much easier for you. Get rid of people that you constantly have to be pushing to do shit or you can't trust them.
When you see that you have good leaders put it in their hands , give them more duties more responsibilities and show that you trust them.

This also.
This is true for any retail business not only with franchises.
Couple of my locations do like double the revenue than the others.

This sounds good. Thanks a lot, user. Your posts where pretty informative. Good luck with your ventures!

i will find her

what fuck kind of thread is this

dont you know this is a crypto board idiot?

fuck off with your yearly 10% returns nigger

Good hunting.

good advice

the parent corp makes money first, their suppliers are second

there was a sandwich franchise here for sale, the owners went from asking for 150k down to 45k, seemed pretty desperate to get out

a lot of franchise locations are pre selected, the company already owns a long term lease, and then you pay them rent

ray croc said mcdonald's was a real estate company