I just went to eat at Quiznos Subs and talked to the new owner. He is 25 years old :Q He told me getting a franchise wasn't as hard as I would think and gave me the home office number. I wonder how much cash I have to have? Seems like if someone that young can get a franchise, it couldn't be that hard. You can make some money on those too.
Anyone ever apply for a franchise?
- Thread starter wyvrn
- Start date
The local Subway I always hit up - the owner of the franchise also owns another Subway. He's late 20's/possibly early 30's. (I know Subway != Quiznos)
I don't have the 70,000 cash, but they said I still have an "excellent" chance of becoming an owner. Hmm, I might actually follow up on this.
i put i didn't have any money, started more projects than I can finish, am not a good leader, dont like risk, and was not a people person but they still told me there was a "good" chance. Just marketing.
As long as they get their montly cut of your revenue they could probably care less if the business fails/succeeds, unless you don't adhere to their food safety rules and such.
Yeah looks like it. They still want the cash when you fill out their online application. I just don't have it. The net worth might be hard too. I have plenty of properties and investments, but the properties still have mortgages on them. Don't know if I take the value - debt = net worth or how they calculate it. Guess I will give them a call and find out.
A failing restaurant would cost them money too wouldn't it? Unless that 70,000 I give them covers all their setup costs which it probably does 
Originally posted by: wyvrn
A failing restaurant would cost them money too wouldn't it? Unless that 70,000 I give them covers all their setup costs which it probably does
It depends - I'd think the owner would be responsible renting out the space and the equipment. I'm not positive though. It seems too damn easy for the franchiser to supply everything, the franchisee to pay $175,000, and for the franchisee to only have to pay out x% of revenue/profit every month, pocketing the rest.
Eh ok my net worth isn't 125k. Too much student loan debt and the properties I have purchased are still relatively new. The owner must have had help from his parents, he is too young to have 125k net worth and 70k cash unless he did another business be4 this one.
iirc, you're married too right? (with a kid on the way) Maybe you could count both your total assets since you're married?
I bet in addition to the 70k upfront, you have to pay a high percentage of profit the first say 5 years to cover their initial investment in your store. After that the owner probably gets to keep more of the profit. I bet the 125k in net worth + 70k startup = what it costs Quiznos corp to start you up.
Originally posted by: Angrymarshmello
Originally posted by: wyvrn
A failing restaurant would cost them money too wouldn't it? Unless that 70,000 I give them covers all their setup costs which it probably does
It depends - I'd think the owner would be responsible renting out the space and the equipment. I'm not positive though. It seems too damn easy for the franchiser to supply everything, the franchisee to pay $175,000, and for the franchisee to only have to pay out x% of revenue/profit every month, pocketing the rest.
It is something good to think about for the future once I get out of school and get my debt paid off. I would love to run a franchise. I have years of supervisor experience. I have done the bank deposits, accounting, scheduling etc. for several different stores I worked for. I like being in control so it would be right up my alley.
I bet the $70K is just for the privilage of the naming rights and the access to quizno recipies and foods... I bet you have to provide set up costs such as rent and money for the set up.
Franchises are a lot of work and money. A friend of mine owns a bunch of Baskin Robbins and he curses them out daily. Compeition is fierce, they keep raising fees and those free scoops actually cost them money...
I was thinking, what do the people here think of Popeyes?
We don't have one in Wilmington NC and the last one I was at had a lot of good stuff.
But here are their fees...
Operating a successful franchise requires talent, dedication, and a sincere commitment to the Popeyes brand name. Our goal as a company has always been to partner with the best people in each market ? people with a proven track record in business.
Because franchisees are so important to our success, we are looking to expand our relationship with qualified individuals who possess the right mix of expertise and enthusiasm. Our ideal candidates:
have proven expertise in restaurant operations
are interested in developing a minimum of three locations
have a net worth of $1.2 million ($600,000 liquid), and
have a commitment to Popeyes? vision for the future.
If this sounds like the right opportunity, you may be just the person
we?re looking for!
Franchise Fees
Development Fee $7,500 for each restaurant
Franchise Fee $30,000 for each restaurant
Royalty Fee 5% of gross sales
Ad Fund 3% of gross sales
Term 20 years
Building Costs
Construction Costs $230,000 to $380,000
Equipment Costs $150,000 to $180,000
Register System $ 28,000 to $ 35,000
Signage $ 15,000 to $ 30,000
Due Diligence $ 20,000 to $ 40,000
Site Costs $ 60,000 to $200,000
Real Estate Cost varies according to restaurant & lot size.
Recommended minimum size of lot is 25,000 to 30,000 s/f
These fees do not include all costs associated with franchising with Popeyes.
Popeyes Chicken & Biscuits is providing these figures to assist you in analyzing your proposed restaurant construction. Site acquisition, site preparation and off-site utilities costs are not included. We cannot estimate your actual investment for improvements. The costs of construction vary considerably depending upon the location and conditions affecting the local market of your restaurant. The range given represents our best estimates of construction costs for the unit shown, and we have relied upon the experience of constructing company-owned freestanding restaurants and industry standard costs of construction. We do not warrant the accuracy of the cost estimates. We refer you to Item 7 of our Uniform Franchise Offering Circular for more detailed information regarding your initial investment for real estate and improvements.
Seems like most restraunts might make a good return, BUT it will be years before you ever come close to maing abck what you have in it, and if something bad happened, it could wipe you out.
We don't have one in Wilmington NC and the last one I was at had a lot of good stuff.
But here are their fees...
Operating a successful franchise requires talent, dedication, and a sincere commitment to the Popeyes brand name. Our goal as a company has always been to partner with the best people in each market ? people with a proven track record in business.
Because franchisees are so important to our success, we are looking to expand our relationship with qualified individuals who possess the right mix of expertise and enthusiasm. Our ideal candidates:
have proven expertise in restaurant operations
are interested in developing a minimum of three locations
have a net worth of $1.2 million ($600,000 liquid), and
have a commitment to Popeyes? vision for the future.
If this sounds like the right opportunity, you may be just the person
we?re looking for!
Franchise Fees
Development Fee $7,500 for each restaurant
Franchise Fee $30,000 for each restaurant
Royalty Fee 5% of gross sales
Ad Fund 3% of gross sales
Term 20 years
Building Costs
Construction Costs $230,000 to $380,000
Equipment Costs $150,000 to $180,000
Register System $ 28,000 to $ 35,000
Signage $ 15,000 to $ 30,000
Due Diligence $ 20,000 to $ 40,000
Site Costs $ 60,000 to $200,000
Real Estate Cost varies according to restaurant & lot size.
Recommended minimum size of lot is 25,000 to 30,000 s/f
These fees do not include all costs associated with franchising with Popeyes.
Popeyes Chicken & Biscuits is providing these figures to assist you in analyzing your proposed restaurant construction. Site acquisition, site preparation and off-site utilities costs are not included. We cannot estimate your actual investment for improvements. The costs of construction vary considerably depending upon the location and conditions affecting the local market of your restaurant. The range given represents our best estimates of construction costs for the unit shown, and we have relied upon the experience of constructing company-owned freestanding restaurants and industry standard costs of construction. We do not warrant the accuracy of the cost estimates. We refer you to Item 7 of our Uniform Franchise Offering Circular for more detailed information regarding your initial investment for real estate and improvements.
Seems like most restraunts might make a good return, BUT it will be years before you ever come close to maing abck what you have in it, and if something bad happened, it could wipe you out.
wow, I added up all the values and without real estate the minimum would be $540,500. I figure good real estate would be at least another $200,000. I wonder how long it would take to recoup 700K?
Well I have some experience in this matter; my Quizno's franchise agreement was just executed.
I am now working on finding the specific location for my unit.
It really does take $70,000 in cash and a net worth of $125,000
The initial franchise fee is $25,000 you must have excellent credit in order to obtain a loan from the bank.
The cost of opening a store is around $210,000 to $250,000. The royalties and such end up being 11% of the gross sales. There really are no shortcuts on the cash end of things as far as I know, the reason for this is you have to get a loan from third party and they don't just let anyone borrow that kind of money on signature. If you have more Questions just send me a Pm
I know there are some big fans of Quizno's here on Anand I like to see the enthusiasm for something that I am getting started in. I'll have to work out some coupon deals for Anands in my area.
I am now working on finding the specific location for my unit.
It really does take $70,000 in cash and a net worth of $125,000
The initial franchise fee is $25,000 you must have excellent credit in order to obtain a loan from the bank.
The cost of opening a store is around $210,000 to $250,000. The royalties and such end up being 11% of the gross sales. There really are no shortcuts on the cash end of things as far as I know, the reason for this is you have to get a loan from third party and they don't just let anyone borrow that kind of money on signature. If you have more Questions just send me a Pm
I know there are some big fans of Quizno's here on Anand I like to see the enthusiasm for something that I am getting started in. I'll have to work out some coupon deals for Anands in my area.
Koing
Elite Member <br> Super Moderator<br> Health and F
- Oct 11, 2000
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Starting up a business is a mofo.
My parents own a Fish and Chip and Chinese takeaway in one. You got to work long hours for the shop. And the clean up time and the preparation time of the food and such. Long hrs but the money is good. Your your own boss and when its quiet you get to sit around and do nothing.
It does beat working however. Only if you and your wife are in to it its better. If only you did it and your wife didn't it will be harder. Or you can hire employees.
The franchise will at least make $5k a week, thats $260k a year. So in about 10 years you can pretty much pay off $750k. Then the profit really starts to roll in.
My parents own a Fish and Chip and Chinese takeaway in one. You got to work long hours for the shop. And the clean up time and the preparation time of the food and such. Long hrs but the money is good. Your your own boss and when its quiet you get to sit around and do nothing.
It does beat working however. Only if you and your wife are in to it its better. If only you did it and your wife didn't it will be harder. Or you can hire employees.
The franchise will at least make $5k a week, thats $260k a year. So in about 10 years you can pretty much pay off $750k. Then the profit really starts to roll in.
Yeah I know the hours are really long. I know some people that work 14 hours a day 6 days a week and take one day off. But if you are willing to do it while you are young, you will have mega bucks when you get older to go vacationing and stuff.
Alchemist99, I sent you a pm
Alchemist99, I sent you a pm
If you have a few mil you can operate a mcdonalds i think. lol.
I read that those dollar stores are one of the cheapest businesses to start up and they make good money.
I read that those dollar stores are one of the cheapest businesses to start up and they make good money.
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