Is franchising realistic?

How feasible do you think it would be to start franchising fast food chains (as a franchisee obviously). I realize the starting costs are considerably high, but I know someone who does this and makes high 6 to low 7 figures a year. Obviously got in a long time ago and has been doing it forever and owns many many franchises. Seems like a great way to make money if you can afford the start/be hands on.

 
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