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jerryskids

Anyone own or consider buying a franchise?

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Not a sports franchise, a regular business one.  There is a convention here tomorrow and I'm planning on checking it out; wondering what the major things (plus or minus) I should be on the lookout for.

TIA  :cheers:

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I've thought about it on occasion.  I've seen those conventions roll through town and considered going so let me know how it is.  I think I'm a little too old to seriously consider it though.  I'm constantly crunching numbers trying to figure out when I can retire.

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I started the process of opening a subway in the early 00's. I didn't have the capital to go through with it though.

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7 minutes ago, Cdub100 said:

I started the process of opening a subway in the early 00's. I didn't have the capital to go through with it though.

Out of curiosity how much capital was needed back then for one?  A lady comes in the store who manages two Subways for a guy who she said owns like thirty of them.  

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i play dyno.

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5 minutes ago, fandandy said:

Out of curiosity how much capital was needed back then for one?  A lady comes in the store who manages two Subways for a guy who she said owns like thirty of them.  

Back then and don't quote me but I think you needed around 100k in capital. At the same time frame, a McDonalds was a million. So Subway was a cheap alternative. I looked into Quiznnos too which was less $$$ than Subway, but I didn't like their business model. I'm glad I passed.

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Subway had a program for prospective franchisees where if you didn't have the capital you could to work your way up and they would loan you the money. I thought about doing that, but I just couldn't bring myself to work at a subway.

 

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IF anyone lives in a state where fireworks are legal I'd love to expand my Pyro Joe's Fireworks brand,of course the only drawback is being open 14 hours on July 4th but you can always celebrate later.

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3 minutes ago, RaiderHaters Revenge said:

I bought a Motorola franchise in 1998. Last time I fall for that trick

I don't get it. :dunno:

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1 minute ago, jerryskids said:

I don't get it. :dunno:

I’m guessing they promise you the world then suck you dry. 

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Just now, RaiderHaters Revenge said:

I invested all my money in pagers. Cell phones were just a fad

trying to make a joke

Ah... I used to work there, that wasn't the only bad bet they made. 

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co worker of mine and I have talked about possibly opening a Coldstone 

 

obviously a franchise helps you in a lot of ways but also limits your creativity as you usually have to stick closely to their business model.....but they are often viewed as less risky than opening your own small business because of the support you get and the instant brand recognition, etc... 

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I've looked into it.  Food ones mainly. But food ones scare me because I'd imagine it being a constant focking fight trying to get workers.

The 100k for Subway sounds low.  But who knows. 

It seems the ones I looked at (again, food) were like 250k minimum.

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49 minutes ago, Cdub100 said:

Back then and don't quote me but I think you needed around 100k in capital. At the same time frame, a McDonalds was a million. So Subway was a cheap alternative. I looked into Quiznnos too which was less $$$ than Subway, but I didn't like their business model. I'm glad I passed.

Can't verify this either but in 1985 I had a pizza/sandwich client who was rather bummed because he found out Subway was coming to town.I had never heard of them but according to him a franchise was $20,000 then.

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3 minutes ago, WhiteWonder said:

co worker of mine and I have talked about possibly opening a Coldstone 

 

 

I have a friend that owns one and does quite well with it.He actually opens all the weekdays and does all the prep from making cakes to making and dipping the waffle cones and has his employees come in later.

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I grew up near a college town.  There are about a half dozen fast food joints that would absolutely kill in that city.  Always thought about bringing one of those to the downtown/bar area.

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8 minutes ago, Drizzay said:

I grew up near a college town.  There are about a half dozen fast food joints that would absolutely kill in that city.  Always thought about bringing one of those to the downtown/bar area.

Drunk college kids...great for business!!

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Dunkin donuts little drive thrus are the best...small costs...basically just sell coffee and premade donuts.  

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Just now, Cloaca du jour said:

Drunk college kids...great for business!!

Biscuits and gravy....cha ching

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1 minute ago, nzoner said:

Biscuits and gravy....cha ching

Is that the puke your mopping up every weekend?

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Just now, Cloaca du jour said:

Is that the puke your mopping up every weekend?

I don't work the bar crowds,strictly daytime,airport rides,people going to work etc.

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I'd like to open a cheap haircut place and a Poppa Murphy's take and bake pizza joint but the labor market would make it almost impossible to find decent help. Only lazy stoners and fuckedup crackwhores would apply. 

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And a movie theater just to pissoff titans.

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I’ve not looked into any food franchises, but there are some co ops in the flooring biz that I’ve looked into joining.  i.e Carpet One 
 

Ultimately decided they’re not for me.  I spent too many years in the corporate world taking direction form others.   
 

One of the main reasons I opened my own biz was so that I could do things my way.  

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1 hour ago, NorthernVike said:

I'd like to open a cheap haircut place and a Poppa Murphy's take and bake pizza joint but the labor market would make it almost impossible to find decent help. Only lazy stoners and fuckedup crackwhores would apply. 

I've read a hair cut place is a great business to own. Everyone needs hair cuts and automation won't take over the industry for a very long time.

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Own your own drop ship business!!   All you do is advertise the items, and the company will ship for you! 

You just sit back and let everyone else do the work while you collect fat paychecks!

What could be easier?! (other than maybe stuffing envelopes in your spare time). 

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Jerry, given your location you should open a strip club, massage parlor, tanning salon, giner waxing salon, ice cream shop, drive thru espresso stand, smoothie shop, vegan shop, or yoga studio.

Or just a giant one stop shop for all of the above.

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14 minutes ago, tubby_mcgee said:

Own your own drop ship business!!   All you do is advertise the items, and the company will ship for you! 

You just sit back and let everyone else do the work while you collect fat paychecks!

What could be easier?! (other than maybe stuffing envelopes in your spare time). 

I listened to a few Johnny V podcasts and watched a few YouTube videos of bros living that lifestyle in Bali and Thailand.

Is it all a scam or can you legit make money in 2020 dropshipping/FBA?

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39 minutes ago, Intense Observer said:

I listened to a few Johnny V podcasts and watched a few YouTube videos of bros living that lifestyle in Bali and Thailand.

Is it all a scam or can you legit make money in 2020 dropshipping/FBA?

A lot of people do it in China I hear. Getting stuff you can't get in one country or the other and shipping it back and forth.

I read that it has gotten much harder as they have tightened the regulations these days. 

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I use to belong to a buying group was similar to buying into a franchise.  I was also a Dish Network retailer.  Not exactly the same but there were some similarities.

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10 hours ago, Intense Observer said:

I listened to a few Johnny V podcasts and watched a few YouTube videos of bros living that lifestyle in Bali and Thailand.

Is it all a scam or can you legit make money in 2020 dropshipping/FBA?

 

I don't suppose its a scam in that there are companies that would/will drop ship.

And of course you could start a website, and "advertise" those products, lol...

buuuuut.....

Uhhh....what are you gonna sell?  Something that Amazon, Ebay, Best Buy, Target, Walmart, Sam's, Costco, Etsy can't get their hands on?  Or is guy gonna "out-market" and "out-advertise" those guys? 

Zero chance to make money doing it, IMO.  Especially in 2020.   Maybe there was in 1996.  But not now.

 

Separate conversation:   FogDog Sports.  Anyone remember them?  They did some heavy advertising in the middle to late 90s.  
 

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Looked at a 7-11 back in 2006 or so.  Got the materials sent to me.  Didn't need a huge amount of liquid capital, but had to take two mortgages..One for the store, one for the product.

Corporate would take 51% of the profit off the top. 

Panera requires $1,000,000 liquid and they expect you to own a few stores, not just one

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4 minutes ago, supermike80 said:

Looked at a 7-11 back in 2006 or so.  Got the materials sent to me.  Didn't need a huge amount of liquid capital, but had to take two mortgages..One for the store, one for the product.

Corporate would take 51% of the profit off the top. 

Panera requires $1,000,000 liquid and they expect you to own a few stores, not just one

I never realized that you were an Indian.  Welcome, Apu!

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