Franchise buying and operation
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DanielT
Well-known member
Just read the career change thread. Didn't you post on that about retaining as a sparky not long ago?
You wanting to change again? (Just being nosey!)
Franchises, to me, seem to be a rip off.
This is a huge generalisation, as there are many franchise options, but you don't want to find out after that you picked a bad one and you're slogging your guts out to end up paying large percentages on top of franchise fees
So perhaps less of a generalisation is don't pick one from a newspaper ad
You wanting to change again? (Just being nosey!)
Franchises, to me, seem to be a rip off.
This is a huge generalisation, as there are many franchise options, but you don't want to find out after that you picked a bad one and you're slogging your guts out to end up paying large percentages on top of franchise fees
So perhaps less of a generalisation is don't pick one from a newspaper ad
- Thread starter
- #3
Yes I retrained as a sparks. I work full time as a service engineer and do private jobs ,electrical work evenings or weekends, what I'd like to do is maybe something completely different but still doing a bit of electrical work part time.
Chicken Runner61
We stand where we want!
- May 20, 2007
- 4,609
Never owned a franchise but have seen a few at many levels.
Buy a good one Burger King, maccy D's Domino's etc etc in a good location you will make money but it will cost you (eg £250k) to get set up and running.
Buy a crap one or even a good one on the cheap in a crap location and you will probably lose your money.
My rule of thumb was that if you actually have to work in it rather than just oversee it - it was probably a bad idea and you could probably set the same thing up without franchise fees.
With Subway, BK, Mc D's etc you are buying the name and people will come through the door whatever and you can can anyone to work there - With stuff like Timpsons (shoe repairs) & car repairs you have to do the work yourself
Buy a good one Burger King, maccy D's Domino's etc etc in a good location you will make money but it will cost you (eg £250k) to get set up and running.
Buy a crap one or even a good one on the cheap in a crap location and you will probably lose your money.
My rule of thumb was that if you actually have to work in it rather than just oversee it - it was probably a bad idea and you could probably set the same thing up without franchise fees.
With Subway, BK, Mc D's etc you are buying the name and people will come through the door whatever and you can can anyone to work there - With stuff like Timpsons (shoe repairs) & car repairs you have to do the work yourself
Don't buy a subway franchise. I looked into it, looked a bad idea after research
Tom Hark Preston Park
Will Post For Cash
- Jul 6, 2003
- 74,329
Wish I'd looked a bit more seriously at getting an Uncle Sams franchise for the Amex. But then again, on reflection, who in their right mind would buy a doublechilliburger without the accompanying large fries? 
Pavilionaire
Well-known member
- Jul 7, 2003
- 31,712
From what I've seen as an accountant a franchise is simply money down the drain.
Wish I'd looked a bit more seriously at getting an Uncle Sams franchise for the Amex. But then again, on reflection, who in their right mind would buy a doublechilliburger without the accompanying large fries?
the dream of a uncle sams double chilliburger at the amex, i think fresh steak could find it hard to top that one.
Barrel of Fun
Abort, retry, fail
I know a franchise owner and he has numerous properties in Dubai and Spain. Specsavers was his choice, but I think that ship has sailed.
I've always wanted to own a little business in North Laine, but the turnover of shops seems to suggest a business is far from being an assured success.
I've always wanted to own a little business in North Laine, but the turnover of shops seems to suggest a business is far from being an assured success.
BensGrandad
New member
One of the easiest to get is a pub with the likes of Enterprise or Punch but to make a small fortune will probably cost you a big fortune under current times..
hitony
Administrator
I agree with you, it's very easy to get a pub with Enterprise or Punch Taverns as they care very little as to who they stitch up, their rents are extortionate, they care little or nothing about the individuals who take on their propertys, the amount of people who have invested in their dream by using their savings / redundancy money and becoming tennants is very sad as most do and will lose it, any decent pubs they do have they charge such stupid rents its not easy to make money with all the other business overheads that there are
I might sound like I have had personal dealings with these companys, actually I have not, but I do know of quite a few people that have, and its no secret that pubs are failing and shutting up and down the country daily. Enterprise and Punch are nothing more than property owners, all that said I'm sure there will be a few success storys that can be told.
I did have a few pubs back in the early 80s but in those days they did make money.
Back to the OPs original question, from a personal point of view I doubt there are many investments that are worth going for unless, as others have said, you invest in a "sure fire" one like a good positioned Maccy Ds or the like.
Just my opinion like.......