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Does anyone here own a franchise?
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Mac Elite
Join Date: Apr 2005
Location: Nashville, TN
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I am sick of working for others, thinking about opening a franchise. Has anyone done this? if so how is it working out for you?
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"I'm sick of following my dreams. I'm just going to ask them where they're goin', and hook up with them later"
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Mac Elite
Join Date: Apr 2003
Location: Hong Kong
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Why not just start your own business with your own ideas, instead of paying someone else for theirs? (You are still working for someone else even with a franchise)
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Clinically Insane
Join Date: Mar 2001
Location: yes
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Yeah, especially since many franchises are setup to not provide the individual branches a whole lot of autonomy.
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Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
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Originally Posted by Andy8 
Why not just start your own business with your own ideas, instead of paying someone else for theirs? (You are still working for someone else even with a franchise)
It's a business decision. A strong brand name will bring in business that an independent business might not get.
Working off of a strong brand name can have huge advantages.
-t
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Mac Elite
Join Date: Apr 2003
Location: Hong Kong
Status:
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Originally Posted by turtle777
It's a business decision. A strong brand name will bring in business that an independent business might not get.
Working off of a strong brand name can have huge advantages.
-t
Yes that is true, but stronger brands usually require much higher turn key capital.
I guess it comes down to how much capital one has to start with, whether he wants to work alone or with a team (Subway, 7Eleven, McDonalds and so on)
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Clinically Insane
Join Date: Mar 2001
Location: yes
Status:
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Originally Posted by turtle777
It's a business decision. A strong brand name will bring in business that an independent business might not get.
Working off of a strong brand name can have huge advantages.
-t
That's true, I was just addressing the "I hate working for other people" sentiment.
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Moderator  Join Date: Feb 2000
Location: Night's Plutonian shore...
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Do your research on the companies you are interested in. Some work well, some don't. I know a couple of guys that have bought franchises with varying success. One bought a Subway, did very well, and bought several more. Another did quite well with a Domino's. Someone else I know bought a Cold Stone and ended up pretty much destitute. There's lots of information out there, so make sure you know exactly what you are getting into. There are some franchise options that almost seem set up to make sure the operator fails. There's a lot you need to know about the company, and not just what they print in their literature either. Research will serve you well.
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Nemo me impune lacesset
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Posting Junkie
Join Date: Jan 2006
Location: Seattle, Washington
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Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status:
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Same as with real estate, it's about location, location, location.
Picking the right place accounts for half the success. The other half is going to be leadership in the day-to-day operations.
-t
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Professional Poster
Join Date: Feb 2008
Location: France
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No I don't own or run a franchise, but I think that unless you know of a new mall/shopping centre thats coming to a certain area, the a food franchises might be pretty tough.
I got one of the windows in my car replaced the other day. If I had the money and the balls, I'd setup a car window repair franchise. Just in France, the market is HUGE. You don't exactly need lots of skill to repalce a window either.
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XBL : Ze Veteran
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Mac Elite
Join Date: Jul 2002
Location: Toronto, Canada
Status:
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Originally Posted by macfantn
I am sick of working for others, thinking about opening a franchise. Has anyone done this? if so how is it working out for you?
How much money have you got? Any franchise worth opening will set you back quarter of a million.
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Professional Poster
Join Date: May 2001
Location: Hampton Roads, VA
Status:
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Originally Posted by Phileas
How much money have you got? Any franchise worth opening will set you back quarter of a million.
Opening a Chick-Fil-A only costs about $5k.
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All glory to the hypnotoad.
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Clinically Insane
Join Date: Jun 2001
Location: planning a comeback !
Status:
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Originally Posted by jokell82
Opening a Chick-Fil-A only costs about $5k.
Wow, that's nothing. Especially for a brand like that.
Chick-Fil-A are one of the best running fast food restaurants in recent years.
-t
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Professional Poster
Join Date: May 2001
Location: Hampton Roads, VA
Status:
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Originally Posted by turtle777
Wow, that's nothing. Especially for a brand like that.
Chick-Fil-A are one of the best running fast food restaurants in recent years.
-t
Yeah but you can't just open one. You have to apply to be a franchise owner, and the waiting list is huge. Then you're assigned a location (which could be anywhere in the country). The company owns the building and property, which is why it doesn't take much money to open a location.
It's not a bad deal since it costs so little, you just have to be flexible. 
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All glory to the hypnotoad.
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