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How much $$/work involved in buying a McD/Subway franchise?
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Date: March 10th, 2010 12:46 PM Author: Narrow-minded Sanctuary Boiling Water Or some similar chain restaurant/store. How lucrative/risky is it? (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14350816) |
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Date: March 10th, 2010 12:47 PM Author: Ocher dashing university puppy This is a great up and coming "get rich quick" meme. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14350824) |
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Date: March 10th, 2010 12:59 PM Author: coral disgusting senate giraffe I know McD's franchises cost at least $1,000,000 and you have to have at least 10 years of experience running a restaurant.
McDonalds isn't about to let someone inexperience come along fuck up their brand name. |
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Date: March 10th, 2010 1:03 PM Author: clear sadistic stag film pocket flask wtf is involved with "running a restaurant?" Isn't that why you hire managers? (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14350980) |
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Date: March 10th, 2010 1:04 PM Author: Provocative Kitchen Mental Disorder subway is like 400k. my buddy was a 24 yr old fuck up and got approval. but he couldnt find funding (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14350983) |
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Date: March 10th, 2010 1:04 PM Author: Ocher dashing university puppy imagine that (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14350985) |
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Date: March 10th, 2010 1:37 PM Author: Big azure volcanic crater A guy who went to my high school's family owns several of the McDonald's restaurants in our city and came in to our business class to tell us all about the process of getting into it.
I wish I could remember more of what he said, but it was many years ago. The one thing I remember for sure is that you have to work an INSANE amount of unpaid hours in their training program; I'm talking like 1-2 years of unpaid work. In other words, you pretty much have to already be wealthy or your spouse must be able to support you both in order to even make it work. |
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Date: March 10th, 2010 3:22 PM Author: motley home organic girlfriend it's not that different from starting any other business in the sense that you'll likely put in insane hours and not break a profit for a few years. Good thing is that the McDonalds brand probably makes it less prone to failure (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14352343) |
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Date: March 10th, 2010 3:26 PM Author: Bateful lilac mother mcdonalds franchises probably have like a 10% failure rate. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14352376) |
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Date: March 10th, 2010 3:28 PM Author: iridescent messiness i'd doubt it's that high. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14352394) |
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Date: March 10th, 2010 3:30 PM Author: Bateful lilac mother ok, probably more like 3-5%. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14352410) |
Date: March 10th, 2010 1:04 PM Author: Idiotic lettuce principal's office you need a good amount of assets and cash. probably not a lot of work involved once you get it running. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14350986) |
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Date: March 10th, 2010 1:05 PM Author: Irate National Dunkin Donuts? (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14350992) |
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Date: March 10th, 2010 3:28 PM Author: chocolate psychic location this might be credited outside of the northeast. i know the brand wants to expand and try to overtake starbucks out west. they will be throwing a lot of cash at marketing in the next few years. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14352392) |
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Date: March 10th, 2010 5:57 PM Author: Irate National I thought they were already in Cali. No? (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14353769) |
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Date: March 10th, 2010 1:07 PM Author: Flirting Opaque Chad Range I know Mcdonalds has a difficult process and i have no experience with it...but my aunt and uncle own like 12 subways and it's very easy to get into you just need some capital and ITE lending isnt too easy to find.....It can be highly lucrative but its risky with just a couple stores. Once you get passed 5-6 stores, some will do shitty while others will be cash cows, giving you an even margin....I say the avg subway nets about 5-10k a month (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351011) |
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Date: March 10th, 2010 1:08 PM Author: Flirting Opaque Chad Range also the amount of work you put in effects your margins...you can sit back and not touch, but you'll be paying someone to do it for you, and u have to trust them (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351025) |
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Date: March 10th, 2010 1:09 PM Author: tripping aphrodisiac center mad-dog skullcap It isn't possible to find someone trustworthy in this fast-food world. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351044) |
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Date: March 10th, 2010 1:08 PM Author: Irate National Estimate of their profit? (after expenses, taxes, all that, of course) (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351029) |
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Date: March 10th, 2010 1:11 PM Author: Flirting Opaque Chad Range net is after all that...well maybe not personal income taxes, but i dont know exactly how that works..id guess around 3-5k per store (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351065) |
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Date: March 10th, 2010 1:08 PM Author: Idiotic lettuce principal's office avg nets 5-10 a month?? that seems really high (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351033) |
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Date: March 10th, 2010 1:10 PM Author: Flirting Opaque Chad Range avg...some do shitty and even take lossses...while some bring in like 20 in a good month...but ya 5k on the lower end is pretty accurate. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351053) |
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Date: March 10th, 2010 1:11 PM Author: Idiotic lettuce principal's office how many sandwiches do they sell a day/ (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351062) |
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Date: March 10th, 2010 1:12 PM Author: Flirting Opaque Chad Range no clue lol....plus all this is info ive extracted while asking my dad questions about how much money my aunt and uncle make...yet wondering why my dad hasnt bought any subways yet...so take it with a grain of salt (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351075) |
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Date: March 10th, 2010 1:14 PM Author: Idiotic lettuce principal's office I guess I'm not factoring in drinks which are pure profit, chips, cookies, and super cheap ingredients. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351087) |
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Date: March 10th, 2010 1:12 PM Author: Crystalline violent son of senegal How much are we talking to get a Subway franchise? 100k? Also, what determines success? I would think location is 90% of it - like whenever I go into a subway it's because it happens to be right near me, so finding a good high traffic area where people are likely to be hungry is the key right? (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351068) |
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Date: March 10th, 2010 1:12 PM Author: tripping aphrodisiac center mad-dog skullcap Dood you would smell like a fucking Subway franchise all day. Forget about this idea. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351074) |
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Date: March 10th, 2010 1:14 PM Author: Crystalline violent son of senegal Nah, I can envision going into biz. with another dood or two, and us being really hands-off about it and just picking really good managers and making sure to ride their asses daily but not actually being on site all the time. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351091) |
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Date: March 10th, 2010 1:16 PM Author: tripping aphrodisiac center mad-dog skullcap Either you would be hands on and smell like Subway or you would be hands off and let methaddicts give away free toppings to they're friends. I seriously see no median. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351113) |
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Date: March 10th, 2010 1:27 PM Author: Idiotic lettuce principal's office you hire someone to do what you would be doing if you were hands on (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351200) |
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Date: March 10th, 2010 1:13 PM Author: Flirting Opaque Chad Range location is 100% of it....also you could just google subway for sell and you'll get an idea of price ranges (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351086) |
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Date: March 10th, 2010 1:15 PM Author: Crystalline violent son of senegal well..reputation's gotta count for some of it. If you run a cockroach infested hellhole with rude workers, you'll be bad reviews online and word of mouth will hurt you. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351103) |
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Date: March 10th, 2010 1:16 PM Author: Flirting Opaque Chad Range 5 dollar footlongs mang (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351111) |
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Date: March 10th, 2010 1:26 PM Author: Ebony dilemma legal warrant Like most people, I always run a background check online of the the Subway I'm about to enter (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351193) |
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Date: March 10th, 2010 1:31 PM Author: Burgundy lay boltzmann dood there are like 7 subways on every block. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14351224) |
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Date: March 10th, 2010 3:01 PM Author: jet theater This is why I think so many (esp. South asian) first-generation immigrants get into running franchises/gas stations. For financial capital, they can tap the local ethnic networks without having to borrow at usurious rates from banks. They can also get invaluable intellectual capital too.Since a lot of the immigrants are o/w undereducated (or for some reason can't use their education), they have no real opportunity cost and can slave away at their franchises. For reliable labor, they can tap other immigrants or their own relatives.
Then once they get going, there's a virtuous cycle that builds on itself, where more and more lend money/advice to others in the same ethnic network. Eventually many of the motels, gas stations, and Subways in America are going to be run by uneducated s. asian immigrants.
I notice that east asians don't really get into franchises or capital-heavy businesses. Uneducated and working-class Vietnamese and Chinese will start restaraunts, and the Koreans might run laundromats or grocery stores, and generally labor-intensive businesses, but not capital-heavy businesses, for whatever reason. |
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Date: March 10th, 2010 3:19 PM Author: Stirring translucent becky persian CSB (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14352307) |
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Date: March 10th, 2010 3:25 PM Author: motley home organic girlfriend I'm not so sure about that. Have you ever tried to knock up an Indian for money? To be honest, I'm not sure where they get their funding from if it isn't from banks, but all I know is that most who got through the initial 4 year hurdle in starting one up are now raking in dough (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14352363) |
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Date: March 10th, 2010 3:12 PM Author: Bateful lilac mother there are too many of both already. find another way to make a living. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14352258) |
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Date: March 10th, 2010 3:27 PM Author: emerald personal credit line mad cow disease How the fuck did fast food franchises become the latest xoxo fad? (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14352377) |
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Date: March 10th, 2010 6:06 PM Author: sienna antidepressant drug state I assume for the same reason "tax careers" were being poasted about every other thread a few months back: some ocd loser trying to figure out how to earn a living... (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14353889) |
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Date: March 10th, 2010 3:54 PM Author: concupiscible plaza One thing we should probably distinguish is buying an EXISTING franchise (which is much more expensive) vs. starting a new franchise.
The thing about buying an existing franchise is it's easy to look at their revenues/costs and decide if it's worth buying, and you are pretty much guaranteed to keep rolling it in once you acquire it. Starting a new franchise takes a lot more work initially.
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Date: March 10th, 2010 4:45 PM Author: coral disgusting senate giraffe Starting your own franchise is next to fucking impossible.
Why would I want a burger from "Burger Joe" when I can go to Burger King and/or McDonalds?
Granted, Burger Joe might have better quality of burgers and at better prices, but I TRUST the BK and McD brand name. I've grown up watching their commercials and playing with their toys.
Plus, advertisement for an already established franchise is taken care of by highly paid executives and agencies in the corporate office. Most people can't tell the difference between a franchise McD's and a Corporate McD's unless they actually LOOK for a sign that says so. All they see are the golden arches and the "$1 menu"
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Date: March 10th, 2010 6:00 PM Author: Bateful lilac mother i don't think you understand. he's talking about developing/building a new mcdonalds/subway from scratch vs. buying an established mcdonalds/subway that has been in existance for years. (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14353812) |
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Date: March 10th, 2010 4:01 PM Author: concupiscible plaza And FYI, here's a taste of the process for Dunkin' Donuts:
Thank you for your interest in Dunkin' Donuts. We look forward to working with you.
Here are a few things you should know before you begin the application process.
You will need to provide financial information regarding your net worth, liquid assets, previous restaurant/hospitality experience, and answer some general questions. The application process should take between five and ten minutes. If you are submitting this application with a partner, you will need to provide partners' first and last name along with an email address. An email will be sent to the partner with instructions how to complete their portion of the application. Once you have completed the application, be sure to print out a copy for your records. You must be prepared to provide proof of liquid assets and net worth at first personal meeting. Liquid Assets must exceed $250,000, and Net Worth must exceed $500,000. Requirements vary by market and by size of development agreement. The information provided by you on this application will be relied upon by us in our assessment of your qualifications as franchise candidate for our system and will be a material inducement to us in the event we offer you a franchise or store development agreement. Ready? Let's get started
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Date: March 10th, 2010 4:46 PM Author: coral disgusting senate giraffe Yeah, I heard about this. How much Managerial experience do you need in food/hospitality? (http://www.autoadmit.com/thread.php?thread_id=1246701&forum_id=2#14353065) |