Has anyone owned a franchise restaurant before??

[Shelly21]

Open a pf changs, the only Chinese place in town that's always full.

 

[thebenjamins]

Originally posted by: sygyzy
21k won't buy you jack. A McD's costs over $1M last time I checked.

not to start. anyway a small independent shop shouldnt cost that much to start.

 

[Amused]

Don't be discouraged! $20,000 is a GOOD start and can easily be the down payment you need with a small business loan if you save up just a little more.

I started with just under $40,000 cash a little over a decade ago, and with a small business loan have been able to build that up to multiple stores.

The hard years are when you are paying off that initial loan. The smart way to play it is to pay it off in 5 years, 7 max. During this time, you'll barely make enough to eat and live in a one room apartment. But those sacrifices pay off in the end.

Someone said that one store is not enough to live off of. It is, but JUST barely while you are paying off your SBL. But, remember, it is the sacrifices you make today that will pay off later. Once that first store is paid off, you can expand into multiple stores if you continue to reinvest the majority of your profits.

The biggest obstacle? Finding good help. A big "GOOD LUCK" to you on that one. If you find the secret, let me know.

 

[BillGates]

Originally posted by: Atomicus
My friend is accounting for PAX, a NYC franchise

That was helpful.

 

[PKPunk]

I've been looking in to the same thing. I've looked into subways but all the good locals have been taken. I live in the S.F. bay area and I swear every new shopping center has a subway...Hell I'm even starting to see gas stations with subways.

I starting to think about one of those drive through coffee places, but I don't know of any franchise coffee stores. the only places I've seen are either corporate owned or sole proprietorships.

I really want to start something. I'm young and can put in the time and I've also got my retired father to help but I don't know where to start.

 

[imported_weadjust]

Owning a subway would be like having two full time jobs. Open 14 hours a day 7 days a week. Bad help and they give away all you food and steal your cash.

You better have some good managers or be willing to be there open to close.