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I WISH I COULD DO IT!!! open up a cold stone creamery

M

MikeMike

Lifer
OPEN A COLD STONE CREAMERY!!

but i dont think my parents have the money for it!!!! there is such a need for an ice cream store near us, ther is only 2 within 10 minutes, and there little joints not amaing stuff, for the good stuff you have to drive 20 min, and those are AMAZING places.

all i have heard on here is good stuff, but i have none in ohio, about 1.5 hours away is one!!

(wat a job for a teen, opening a franchise LOL)

MIKE
 
i noticed the pricing, end of college = 5+ years (senior in HS). maybe i could convince my parents (yea right) although if i place it strategically located near six flags worlds of adventure, i could turn profit, almost guarenteed (unless im a jackass)

MIKE
 
Most franchisees will tell you that having single store is not very profitable. If you really want to make money, you have to have several, not to mention working 24/7.
 
Originally posted by: AnyMal
Most franchisees will tell you that having single store is not very profitable. If you really want to make money, you have to have several, not to mention working 24/7.
Click to expand...

He's right - the Subway I always hit up - the owner owns 2 of them. He has some family members working there to help save on wages and such.
 
Originally posted by: nourdmrolNMT1
i noticed the pricing, end of college = 5+ years (senior in HS). maybe i could convince my parents (yea right) although if i place it strategically located near six flags worlds of adventure, i could turn profit, almost guarenteed (unless im a jackass)

MIKE
Click to expand...

You do realize that locations near large parks are VERY expensive, right? You aren't the only one with that idea...
 
Originally posted by: AnyMal
Most franchisees will tell you that having single store is not very profitable. If you really want to make money, you have to have several, not to mention working 24/7.
Click to expand...

Why do you have to own 2 or more to turn a decent profit?

how much money could you save on each tub of ice cream by buying 100 tubs every month instead of 50?
 
Originally posted by: gotsmack
Originally posted by: AnyMal
Most franchisees will tell you that having single store is not very profitable. If you really want to make money, you have to have several, not to mention working 24/7.
Click to expand...

Why do you have to own 2 or more to turn a decent profit?

how much money could you save on each tub of ice cream by buying 100 tubs every month instead of 50?
Click to expand...

You make twice the money. Or depending on location (if the franchise allows) you can subsidize prices depending on location
 
Those boba places that are poping up everywhere cost between $300k-$350k to start. It takes several years to have a return on the investment.

My local Tapioca Express is pretty expensive... a cup is anbout $3. Near my house where there is a boba place every 100ft it only costs about $1-$1.5 for non TE and Lollicup places.

-psianime
 
bump, just cuz this was posted pretty late

yea they prolly cost a lot to place near amusement parks, but hey, there is a huge strip mall there now, and its a pretty decent location, with like 1 or 2 openings still cuz it was opened this year. It wont happen, but i can dream.

MIKE
 
I think part of the increased benefit of multiple locations of a franchise is that some of the work is redundant. Purchasing for example. If you only have to place one order, for a higher amount, you not only get a better price, but for the same amount of work you've actually ordered for 4 stores instead of just one.
 
Originally posted by: Angrymarshmello
Originally posted by: AnyMal
Most franchisees will tell you that having single store is not very profitable. If you really want to make money, you have to have several, not to mention working 24/7.
Click to expand...

He's right - the Subway I always hit up - the owner owns 2 of them. He has some family members working there to help save on wages and such.
Click to expand...

He doesn't pay them?
 
Originally posted by: jonmullen
Doesn't it take like 3 years to pay back the loan you have to take on most franchises?
Click to expand...

It'll take a lot longer than that.

After researching several franchises myself, I have come to the conclusion that owning a franchise is nothing more than being hired on as a manager, with the exception that you have to pay to be employed.

After paying advertising coop payments, using only specific vendors, paying a percentage of revenue (not profit) and following specific operational procedures, there is very little room to make owning a franchise feel like you own your own business. You feel more like a manager of someone else's company.

Keep in mind also why some companies go the franchise route - very little capital involved in selling franchises.

 
Originally posted by: CPA
Originally posted by: jonmullen
Doesn't it take like 3 years to pay back the loan you have to take on most franchises?
Click to expand...

It'll take a lot longer than that.

After researching several franchises myself, I have come to the conclusion that owning a franchise is nothing more than being hired on as a manager, with the exception that you have to pay to be employed.

After paying advertising coop payments, using only specific vendors, paying a percentage of revenue (not profit) and following specific operational procedures, there is very little room to make owning a franchise feel like you own your own business. You feel more like a manager of someone else's company.

Keep in mind also why some companies go the franchise route - very little capital involved in selling franchises.
Click to expand...
Yeah you're right. I know several people who own franchises and they're more like managers than owners. The only decisions they get to make are those that involve employment.
 
Originally posted by: Krassus
Originally posted by: CPA
Originally posted by: jonmullen
Doesn't it take like 3 years to pay back the loan you have to take on most franchises?
Click to expand...

It'll take a lot longer than that.

After researching several franchises myself, I have come to the conclusion that owning a franchise is nothing more than being hired on as a manager, with the exception that you have to pay to be employed.

After paying advertising coop payments, using only specific vendors, paying a percentage of revenue (not profit) and following specific operational procedures, there is very little room to make owning a franchise feel like you own your own business. You feel more like a manager of someone else's company.

Keep in mind also why some companies go the franchise route - very little capital involved in selling franchises.
Click to expand...
Yeah you're right. I know several people who own franchises and they're more like managers than owners. The only decisions they get to make are those that involve employment.
Click to expand...

Which is basically what a normal manager does.

The better way to start a business is to "copy" an existing business. No, I don't mean steal their ideas or mimic they way they run things, but don't try to recreate the wheel. Put a business plan together (rather simple), use the money you would otherwise have to pay for the initial franchise fee as your capital, and approach a bank about a Small Business Loan. Once approved, the rest is up to you. Now, you're really an owner.

 
Originally posted by: gotsmack
Originally posted by: AnyMal
Most franchisees will tell you that having single store is not very profitable. If you really want to make money, you have to have several, not to mention working 24/7.
Click to expand...

Why do you have to own 2 or more to turn a decent profit?

how much money could you save on each tub of ice cream by buying 100 tubs every month instead of 50?
Click to expand...

You need to take a microeconomics class.
 
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