Franchising, anyone know anything about this?

[Leicesterdave]

Good or bad ones I'm sure, but are they are good way of making money?

[mcflurry]

How long is a piece of string?

[Kit80]

Depends what you franchise in surely?

[Leicesterdave]

Any ideas on decent ones?!

[Racefan_uk]

Leicesterdave said:

Any ideas on decent ones?!

A McDonalds restaurant. License to print money if it's in the right area.

[Leicesterdave]

Racefan_uk said:

Leicesterdave said:

Any ideas on decent ones?!

A McDonalds restaurant. License to print money if it's in the right area.

The franchise starts from £125k though!!

[Racefan_uk]

Leicesterdave said:

Racefan_uk said:

Leicesterdave said:

Any ideas on decent ones?!

A McDonalds restaurant. License to print money if it's in the right area.

The franchise starts from £125k though!!

You said you wanted ideas for a franchise, you didn't say what budget! But still, I stand by it, on the right site, they're benefit money magnets...

[Leicesterdave]

Racefan_uk said:

Leicesterdave said:

Racefan_uk said:

Leicesterdave said:

Any ideas on decent ones?!

A McDonalds restaurant. License to print money if it's in the right area.

The franchise starts from £125k though!!

You said you wanted ideas for a franchise, you didn't say what budget! But still, I stand by it, on the right site, they're benefit money magnets...

Sorry I forgot to mention, about £10k!

[TooLateForAName]

It isnt just purchase cost - look at ongoing fees as well.

I'd suggest snap-on. They'll loan you the money to buy the franchise and people seem to make a good living at it.

[Anatol]

If the business model is proven to be able to work, there are three critical other variables:

1. The franchisee - are you suitable for self-employment/this sector?
2. The territory - not all geographies are equal - though they probably cost the same from the franchisor. Do an absolute ton of research and do not buy a territory that does not suit the selected franchise.
3. Financing - personal and business. If you are servicing a lot of debt, and paying ongoing fees, you need a lot of cashflow from day one. If you have paid off your mortgage, can buy the franchise with savings, and have plenty of working capital to get you through the early months and years, you are in a much stronger position.

Franchising can work. But there are a lot of sad stories of people who lost a lot of money - and now look to blame their former franchisor. Do all the research you possibly can, and take paid, independent advice on the contents of the franchise contract, your business plan (including financing) etc, and don't think (the mistake many make) that you've just bought a meal ticket for life.

HTH

Tol

[KevF]

Racefan_uk said:

Leicesterdave said:

Any ideas on decent ones?!

A McDonalds restaurant. License to print money if it's in the right area.

Not quite but if you get a good one it's not bad. Depends if you have other businesses. A McDonald's franchise is a very hands on affair and can't be run from a distance.

You will need £30k to start, 9 months unpaid training and then the cost of a restaurant which can be between £125 - £350k dependant on size and position. Future growth is difficult in the Southern part of the country but there are better chances north of the country from Nottingham upwards.


Kev

[jon-]

A friend is a big fan of subways, but like with McDonalds you'll be lucky to get a green location. Best route is to buy out an existing one, which is probably more than your budget.