Any ideas on investing in a franchise? What’s hot-What’s going to be hot? Would this be a good Idea If working with 25-75K?
Most franchises require significantly much more than that. Try $75k x 10, on the low side.
You might be able to get a kiosk at the mall for the amount your talking about.
Don’t buy into a franchise unless you understand the particular business. Don’t buy a burger franchise unless you understand fast food in general, burgers in particular, and preferably have some experience in that particular chain.
Also, realize that HQ doesn’t give a damn about you making money. They just want to make money from YOU. There are three or four Subways in a five mile radius from my house…and I think that’s too many Subways for this area. There just aren’t enough people to support that many sub shops, particularly same brand sub shops. One or more is going to go under.
Also, you don’t have near enough money to invest in a franchise. Oh, and you have to figure that YOU are going to have to work an average of 12 hours a day, at least 6 days a week to start out with. You might have to keep working those hours. Part of this is because you will save the wages of two part time employees, and part is because you need to know how much money is really coming in, and how much inventory is really being sold and recorded, as opposed to being sold and not recorded, or just given away.
Most starting businesses fail because they were undercapitalized. You can’t expect to make money from the very start, and as Omar Little said, most franchises are going to require a lot more than you’re thinking. A lot more. And remember, they don’t really care if you sink or float, so you’ll need more than the minimum.
Yeah that’s what I thought, thanks.
I hear Soup R’ Crackersis a golden opportunity.