Anyone here own a franchised business?

[racrguy]

No good sushi? Where are you living? I am surrounded by decent sushi joints. You should come into town one night and pig out with me; I will not even crack any gay jokes.

Stephenville.

[Frank]

Holy shit, those buffalo bacon chili cheese fries sound fucking amazing!

Carl's Jr. does or did have some of those.

[Mike]

I love their chili-cheese dogs.. Have always been my favorite.

I'm bummed they closed the Del Taco in Irving.

Del Taco opened a location near me last year, I haven't tried it yet though.

[Baron Von Crowder]

Del Taco opened a location near me last year, I haven't tried it yet.

Decent fast food tacos?

define decent?

[Mike]

define decent?

It was a trick question.

[Baron Von Crowder]

It was a trick question.

[slow99]

In what city does a CE not exist?

There's one a few miles away, I just want one closer. Had some today for lunch. Holy shit each 1 of those tenders has 280 calories. Guess I'm not eating dinner tonight.

[SMKR]

Looking to start diversifying a bit. Too many eggs in one basket now. Curious what franchise and how the process was? PM is fine with me. Have some questions!

I am a Franchise Consultant. PM me with any questions.

[SMKR]

Looking to start diversifying a bit. Too many eggs in one basket now. Curious what franchise and how the process was? PM is fine with me. Have some questions!

The franchise controls everything and gets a big chunk of your cash.

No, and No. Well, it varies by franchise but our royalties are 2. 5%, which the customer pays, so I personally don't think that's too much for the return but that's just me. Franchises aren't for everyone, but for those that they are a good fit for do much better than they could have on their own.

[Broncojohnny]

Some chains have high net worth requirements. I'd like to open a Napa store but really haven't done much but think about it.

[bcoop]

Some chains have high net worth requirements. I'd like to open a Napa store but really haven't done much but think about it.

High net worth and high operating costs set aside in a separate account. Not all franchises, but many. And I personally agree with the operating costs. It's the biggest reason restaurants and bars fail.


Then there are franchises like Dickey's. They'll franchise anyone with a pulse, and a couple pennies

[slow99]

High net worth and high operating costs set aside in a separate account. Not all franchises, but many. And I personally agree with the operating costs. It's the biggest reason restaurants and bars fail.


Then there are franchises like Dickey's. They'll franchise anyone with a pulse, and a couple pennies

My good friends just had to shut down a bar/pub in Plano. When they were getting it setup I told them the number one thing they had to have was cash on hand - much more than they thought. They assured me they had an accountant who looked at the books and worked with startups all the time, and that they were fine. I got him to tell me some ballpark figures and told them I didn't think they had enough, and offered to look everything over but they were sure they were fine. They went under a few months ago.

[SMKR]

Then there are franchises like Dickey's. They'll franchise anyone with a pulse, and a couple pennies

Amen, that franchise is a joke.

http://www.unhappyfranchisee.com/

[bcoop]

My good friends just had to shut down a bar/pub in Plano. When they were getting it setup I told them the number one thing they had to have was cash on hand - much more than they thought. They assured me they had an accountant who looked at the books and worked with startups all the time, and that they were fine. I got him to tell me some ballpark figures and told them I didn't think they had enough, and offered to look everything over but they were sure they were fine. They went under a few months ago.

It will bite you in the ass every time. Every single time. It seriously is the #1 reason they fail, and it happens so damn frequently. The overwhelming majority of people I do business with own multiple places, multiple franchises, etc. I don't really seek out Mom and Pops because my time is better spent chasing bigger opportunities. That said, they fall in my lap often, and I don't want to turn them away. It's completely counterintuitive to how I earn a paycheck, but I try to warn every one that I can. It usually goes in one ear and right out the other. I always tell them to look at McDonald's. Shit food aside, there is a reason they are so successful and you rarely see one go out of business. Their requirements for operating capital are seriously high. But it works for them, obviously.

I think people fall in love with the idea of owning a bar, or restaurant, and that love blinds them to the point where they won't listen to anyone. The fact of the matter is they are a shit ton of work, and EVERYONE is stealing from you.

[SMKR]

When they were getting it setup I told them the number one thing they had to have was cash on hand

So very true.