How hard is it to get a Franchise (Mickey D, Burger King, Taco Bell and etc

[kix2mny]

Anyone on the board have a franchise or have friends are family that own one?

 

[dirtylicious]

look up the company websites...they all have info on franchising requirements
and yes...it's hard(aka takes a lot of money) if you're starting from scratch for the big name companies

 

[kix2mny]

thanks Dirty -

 

[redman]

Your best bet would be to find a regional company that is looking to expand. One example is Bojangles.

 

[king beef]

You need a net worth of at least 700k. Maybe it's up to a 1m now.

 

[rocathajordans23]

Originally Posted by rodster831

M intrested too.
The fam and I have always wanted an in-n-out

Its family owned still private

 

[datztoothless]

They're all different. I know it costs approximately 1,000,000$ to open a SUbway. Sonic's are like 770,000, and it can't even be a loan orinvestment group. They check that you are actually worth that much before they let you franchise. You can open a Family Dollar store for 20,000$-$50,000though. Where I live, those make bank. And if you live somewhere expensive, I'd imagine they'd make even more.

 

[potus2028]

Could I buy a Sonic? We need a Sonic in Philly, that would be a guaranteed success... EDIT: And what about check cashing places? How much do you need to openup one of those, it seems. Like damn near pure profit...

 

[jehul]

Originally Posted by kix2mny

Anyone on the board have a franchise or have friends are family that own one?

Really depends on how much $$$ you have (or can scrape together.)

 

[kix2mny]

Family Dollar really make bank? The ones around here look so darn shabby. Guess looks aint everything.

 

[nostrandave68]

You know what are pretty affordable franchises that reap major profits..... Car Washes. Pretty low start up cost compared to Restaurants but you can seeupwards of 100-200K in revenue annually maybe even more depending on location and weather conditions.

 

[datztoothless]

^ Laundromats too

 

[methedy24]

- My uncle has a McDonald's franchise in illadelph.




- He initally acquired it in around 1986. It was a different ball game back then. IT generates stacks, now...

 

[kix2mny]

you guys/gals really brining up some good options beside fast food.

 

[ktaylor]

i know a chick whos family owns a pizza nova up here in canada

 

[we get money]

The real money is in parking lots

 

[redman]

Originally Posted by DatzToothLess

They're all different. I know it costs approximately 1,000,000$ to open a SUbway. Sonic's are like 770,000, and it can't even be a loan or investment group. They check that you are actually worth that much before they let you franchise. You can open a Family Dollar store for 20,000$-$50,000 though. Where I live, those make bank. And if you live somewhere expensive, I'd imagine they'd make even more.

Where are you getting your numbers?

You're trying to scare the kid. This website should help you out.

http://www.franchise.org/

 

[kix2mny]

^ I thought about parking lots ... overhead should be pretty low compared to other businesses.

 

[redman]

Originally Posted by kix2mny

Family Dollar really make bank? The ones around here look so darn shabby. Guess looks aint everything.

It's a fortune 500 company.

 

[kix2mny]

Originally Posted by RedMan

Originally Posted by DatzToothLess

They're all different. I know it costs approximately 1,000,000$ to open a SUbway. Sonic's are like 770,000, and it can't even be a loan or investment group. They check that you are actually worth that much before they let you franchise. You can open a Family Dollar store for 20,000$-$50,000 though. Where I live, those make bank. And if you live somewhere expensive, I'd imagine they'd make even more.

Where are you getting your numbers?

You're trying to scare the kid. This website should help you out.

http://www.franchise.org/

ihop is a close to million so he is not that off

 

[nostrandave68]

Originally Posted by DatzToothLess

^ Laundromats too

Yupe those tho... only downside tho for both laundromats and car washes are the maintenance cost of equipment. One of my pop's friends ownsabout 4 car washes and takes in about 850K in net income, even after paying servicing fee's and etc.

Another good one is Janitorial franchises, i've heard plenty of entrepreneurs say if you get contracted with the right buildings, corporate buildings,airports, federal buildings and etc you can see millions. Plus very cheap to start-up.

 

[jrp44]

Originally Posted by WE GET MONEY

The real money is in parking lots Storage Buildings

fixed...

If I had enough money I would open up a storage facility.....Think about it...you can charge a decent amount of money to rent out a little square in a bigbuilding....People still hold on to every little thing they have and they don't want it piled up in their house. I think they make a #%## load of money

 

[datztoothless]

Originally Posted by RedMan

Originally Posted by DatzToothLess

They're all different. I know it costs approximately 1,000,000$ to open a SUbway. Sonic's are like 770,000, and it can't even be a loan or investment group. They check that you are actually worth that much before they let you franchise. You can open a Family Dollar store for 20,000$-$50,000 though. Where I live, those make bank. And if you live somewhere expensive, I'd imagine they'd make even more.

Where are you getting your numbers?

You're trying to scare the kid. This website should help you out.

http://www.franchise.org/

Wow, some dudes hella overexaggerated if this informationis right.

[h3]Start-up Costs & Franchises Fees[/h3]
How much does it cost to open a Sonic Drive In Franchises?
Total Investment: $1,200,000-$3,200,000
Initial Franchise Fee: $30,000
Royalty Fee: 1-5%
Advertising Fee: N/A
Term of Agreement: 20 years
Renewal Fee: 10 years for $6K

[h3]Start-up Costs & Franchises Fees[/h3]
How much does it cost to open a Burger King Franchises?
Total Investment: $294,000-$2,800,000
Initial Franchise Fee: $50,000
Royalty Fee: 4.5%
Advertising Fee:
Term of Agreement: 20 years
[h3]Start-up Costs & Franchises Fees[/h3]
How much does it cost to open a Dairy Queen Franchises?
Total Investment: $700,000-$1,300,000
Initial Franchise Fee: $20,000-$35,000
Royalty Fee: 4-5%
Advertising Fee: N/A
Term of Agreement: Varies
[h3]Start-up Costs & Franchises Fees[/h3]
How much does it cost to open a Subway Franchises?

Total Investment: $78,600-$238,300
Initial Franchise Fee: $15,000
Royalty Fee: 8%
Advertising Fee: N/A
Term of Agreement: 20 years

 

[kix2mny]

NostrandAve68 -

Janitorial franchises, you mean a cleaning service? Like what T.I uncle did in the movie ATL?


jrp44 -

I would rather a parking lot. I would assume storage places would have a higher overhead. The ones in my area have AC and all that stuff. When I think ofparking lot, I'm thinking about a black top lot.

 

[slacker83]

im opening a Subway here in SHanghai end of the year, $10,000 USD franchise fee
All up it's around $125,000USD , that includes the renovation and equipment and 3 months rent, training etc