Franchise opinions, thoughts?

[Torque]

I've been doing some research in buying a franchise - but I've been hearing mixed responses from everyone I've talked to.

I live in a pretty small, though pretty populated - and was thinking, hell a Taco Bell would awesome. But through some research, it varies between 1.4 mil and 1.7 mil to start up, NOT including property and taxes. You also must build 3 tacobells within 3 years.



I would like to run a restaurant, preferably my own - and it looks like that may actually be the cheaper route to run. As much as I like to cook and whatnot, I would be hiring a cook.

Has anyone dabbled in the restaurant industry? Or Anyone have any tips or ideas for a food establishment?


Would like to make a trendy place, for students, couples, seniors - everyone. Any suggestions would be great.

I've managed $20,000 for capital - which isn't much I know..but Internet money just isn't my forte.


Suggestions? Ideas?

[Foq]

cheapest is subway

i dont think 20k will get you anywhere in the franchise business real talk

[Torque]

Yeah I kind of switched topics half way through the post. I realize the franchise may not be the route I'm looking to go down.



I would like to run a restaurant, preferably my own - and it looks like that may actually be the cheaper route to run.


Would be more interested in something of this nature --^

[Media Monster]

http://webservices.cstv.com/graphics/schools/wagn/graphics/auto/CharlieBrownLogo3.jpg

[Napolean]

depends on the franchise.. I know something like Dominos they do check ups and inspections and whatnot every year to make sure your running everything to their standards.

In my opinion the main reason to own a business is to be your own boss and not have to answer to someone. Franchises your the one risking the capital while they tell you how to run your business.

The only benefit is that it sharpens your learning curve because they teach you to run things without making the typical mistakes a fresh business might make. But thats a double edge thing, learning from mistakes is what makes you a strong business person.

As market environments change there will be issues that will come up that these companies have never had to deal with before, and wont be able to help you. So still your holding all the risk and they dont really need to help you if they dont want to.

[capone]

I got a friend that owns multiple subways if your serious about this you need to look into some investors that believe in you/your experience. I can get a lot of info for you if you want, PM me.

Edit: I also strongly believe in the post above. Take an idea you wanted to franchise and put your own spin on it. There's usually room for a local guy, if marketed right you'll be one up on any franchise in the area.

[cashola]

$20k won't get you any franchise that isn't a scam or pyramid scheme, let alone leave you with enough working capital to start your actual business or maintain it until cash flow becomes positive.

Upstart small business lending is basically shut down right now, unless you're a HIV-positive black lesbian veteran from an impoverished background. Even then, you better know a politician.

[Kobal]

Ive also been looking into this very heavily. One of my friends parents are part of a franchise for ice cream and I want to start my own. There telling me Ill need at least 100k to even start up. If I were you I wouldnt look to go as big as possible like a taco bell id start smaller. But owning anything you need a lot of start up cash and if your like most of us thats the only thing holding you back.

[xtc46]

Its a tough business. A coworker of mine just opened a restaurant near us. His wife, mother in law, and sister in law run the place, he does whatever he can while working full time. They have been up and running full time but I know it has put a strain on them financially. They are now in the process of getting their liquor license, and that alone is a huge cost, and to run the place and pay the cooks, bus boys, etc. The family is there 7 days a week, 8am til after midnight most nights. crazy business.

[will]

i dont understand the appeal of franchises i saw a tv show the other day with some man that had the largest mcdonalds in US for decades and he honestly was not very rich, you could make more $ with less effort millions of other ways.