Any advice of buying into a franchise (Subway)
- Thread starter Profit
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Know your market
Know yourself - Go work in one first before you buy one. Try manage one for a month. Do it for $5-10 a week. As a owner you may sometimes not make any money so volunteering for that little shouldn't be a big deal.
Know your market
Know yourself - Go work in one first before you buy one. Try manage one for a month. Do it for $5-10 a week. As a owner you may sometimes not make any money so volunteering for that little shouldn't be a big deal.
Thinking of trying to get one.
Website says they can be obtained for as low as $78K
$50K liquid. Going to try to get a loan for the rest.
Prior military don't have the pay the $15K franchise fee
Do it. They do not have territory restrictions so pick a spot you determine is best and swing for the fences.
All of the above is good info. I would add the following:
- Find yourself a mentor in the same type of business who is where you want to be. (restaurant owner with a number of locations)
- Find a good CPA and ask questions.
- Business Plan is pinnacle! There are lots of helpful items on the web and the SBA has a program in place to help you put it together and a group to review and help you modify it. Call your local (state) office and they will help you from there.
- Try to become an expert before you start. There is no such thing as a stupid question. Better to ask now then when you are neck deep in employee, delivery, and the soda dispenser is messing up problems.
Good Luck.
- Find yourself a mentor in the same type of business who is where you want to be. (restaurant owner with a number of locations)
- Find a good CPA and ask questions.
- Business Plan is pinnacle! There are lots of helpful items on the web and the SBA has a program in place to help you put it together and a group to review and help you modify it. Call your local (state) office and they will help you from there.
- Try to become an expert before you start. There is no such thing as a stupid question. Better to ask now then when you are neck deep in employee, delivery, and the soda dispenser is messing up problems.
Good Luck.
I would generally say fuck buying a franchise (we need more Black franchisors), but since they are waving the franchise fee, maybe?
What is their monthly or annual cut, cause I know they still getting something out of the deal.
What is their monthly or annual cut, cause I know they still getting something out of the deal.
i dont know if this would be realistic for you but what about taking a position as a store manager trainee and then store manager for a month or 2 to really get an understanding of the ins and outs.
since you have the wavier...i say consider it
main thing is location....is there a college or large business around? are you wiling to put in the time at your location? is the road near you heavily traveled? in what direction is the traffic going during lunch? dinner? that actually matters.
main thing is location....is there a college or large business around? are you wiling to put in the time at your location? is the road near you heavily traveled? in what direction is the traffic going during lunch? dinner? that actually matters.
Just keep in mind the many restrictions and terms of what u can't and can do when owning a franchise. You are buying a system that has already been created that has rules, regulations and standards you have to adhere to.
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this is super true for subway....go to the store and look at little things.
like guess where those clear gloves they wear to make your sandwich....they come from subway....and you have to buy them...a good portion of the supplies you could get from any old local store you have to get through subway.
Would an AM/PM gas station be a good profit turnaround compared to Subway? Any other good ideas on franchises that can make a quick and sustainable profit?
http://www.entrepreneur.com/franchises/rankings/franchise500-115608/2010,-1.html
Top 500 franchises.
http://www.entrepreneur.com/franchises/rankings/franchise500-115608/2010,-1.html
Top 500 franchises.
quick is not something you should expect to happen. often the first year to 3 years are where you make or break yourself. you spend a good portion of the time getting people in the door to recoup your startup costs.
if you are looking into gas stations. Valero has a great deal they are offering to convenience stores. they are trying to break in several markets and were offering 8-10 year returns on per gallon sales.
You make a valid point about the challenges of the first few years in any startup, especially in industries like gas stations and convenience stores. The initial investment can be substantial, and it often takes time to establish a customer base and recoup those costs.
Valero's offer sounds interesting, especially if they’re providing a solid return on per-gallon sales. It could be a great opportunity for those looking to enter the market. Have you had any experience with Valero or similar partnerships? It would be helpful to hear more about what specific factors to consider when evaluating these kinds of deals.
4o mini
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