I read an article a while back that HBS winds up assisting many of their soon to be grads with sourcing small business to buy and operate post graduation. Sticking with that concept, I'm curious, if you were forced to buy a franchise tomorrow: which franchise would you buy and why?
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Chick-fil-a. Get a good management team in there and left the cash flow roll in.
This is also based on almost no research, but I feel like I read something at one point mentioning chick-fil-a as being the most (or one of the most) profitable fast food restaurants.
Yeah I don't know much about the franchise financials either, but like the CFA brand and food. They seem to recruit good employees and also have scholarship programs to help pay for college. I don't have a problem with the Christian image and think that they could do some expanding in certain areas. I think it is a solid company to own/represent. Not to mention their drive through operations are a model for fast food efficiency and service.
You can't franchise a Chick-fil-a, Their version of being a franchisee is merely being the local operator, not a passive investor.
This is true. Chick-fil-A requires its Operators to not engage in any other business ventures and won't even let you own multiple CFA locations. They expect you to own and operate one location and do it as a full-time job (I have seen Owner's that will come in and clean tables and assist in the rare chance they aren't staffed enough or simply because they want to be close to the action).
CFA is a great franchise if you can get one but definitely not as easy as own one and watch the $$$ roll through. Part of the application process will require you to be trained from everything as a cashier to fryer to whatever else they have roles for.
Doesn't work that way. You can "own" at most 2, there are like 3 people nationwide that "own" 3, and you are required to work 20 hours per week at each store.
The reason for the "own" is because you don't get the profit, you get a percentage of sales as your compensation.
If you want to franchise a big number of places I would say go for Taco Bell. Mexican food has dirt cheap costs a fat food margins compared to most other types.
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CFA, 7/11, Starbucks, Cousins Maine Lobster Food Truck, NY Yankees
Isn't the turn on Cousins Maine Lobster Food Truck too slow? I think it takes wayyy too long to churn customers
With very few exceptions, Starbucks aren’t franchised. They’re almost entirely owned by the corporation itself. Inside certain malls/ airports/ universities there’s exceptions
You're right.
I was thinking of the deal Magic Johnson did with Starbucks and liked the concept. But, after looking up the deal - it looks like it was a special deal with Howard Schultz.
Puerto Rico, Guam, or the Northern Mariana Islands
The point of a franchise is that you can buy it to share in the profits ... what is this
https://blog.hubspot.com/sales/franchise-opportunities
The 39 Best Franchise Opportunities to Buy & Own in 2020
Written by Meredith Hart
Best Franchises to Buy McDonald's 7-Eleven Dunkin' The UPS Store RE/MAX Sonic Drive-In Great Clips Taco Bell Hardee's Restaurants Sport Clips
Let's take a look at some of these franchises and see how they stack up. I'll review what each franchise requires in terms of the franchise fee and the initial investment you'll need to make. A franchise fee is a cost a potential franchisee pays up front to operate the franchise. And the initial investment amount includes expenses such as royalty fees, real estate, and inventory costs.
McDonald's Franchise fee: $45,000 Initial investment: $1,008,000 to $2,214,080 Franchise details: McDonald's If you want golden arches of your own, you'll need to put in a hefty initial investment. But with that investment, you get brand recognition, popularity, and years of experience in the fast food industry.
7-Eleven Franchise fee: $10,000 to $1,000,000 Initial investment: $37,550 to $1,149,900 Franchise details: 7-Eleven As the #1 convenience store, 7-Eleven is seeing unprecedented growth. Its stores are turnkey and you can get started within three to six months, including application, testing, and training.
Dunkin' Franchise fee: $40,000 to $90,000 Initial investment: $109,700 to $1,637,700 Franchise details: Dunkin' Dunkin' dropped the "Donuts" from its name, but this business is as recognizable as ever with locations in 32 countries. It was rated #1 in customer loyalty by Brand Keys Customer Loyalty Engagement Index. And they support their franchisees with training and assistance with site selection, construction, operations, management, and marketing.
The UPS Store Franchise fee: $29,950 Initial investment: $138,433 to $460,031 Franchise details: The UPS Store The UPS Store is the top-ranked franchise in the business services industry. It boasts financial stability, brand recognition, and dedicated training and support — and 84% of the U.S. population lives within 10 miles of a The UPS Store.
RE/MAX Franchise fee: $15,000 to $32,000 Initial investment: $37,500 to $225,000 Franchise details: RE/MAX Over its 40 years of business, RE/MAX has grown to over 100,000 agents in nearly 100 countries. It's a well-known brand with a global presence, strong advertising strategies, and well-developed core philosophies.
Sonic Drive-In Franchise fee: $45,000 Initial investment: $1,240,000 to $3,540,000 Franchise details: Sonic Drive-In This drive-in chain prides itself in operational excellence and its customer service. This brand keeps growing — its franchise owners saw the average gross sales-by-store increase from $1,072,000 in 2012 to $1,256,000 in 2018.
Great Clips Franchise fee: $20,000 Initial investment: $136,900 to $259,400 Franchise details: Great Clips Great Clips has been in business for 30 years and provides its franchise owners with up-to-date technology and training. It has invested heavily in market research to provide customers with the best service and experience.
Taco Bell Franchise fee: $25,000 to $45,000 Initial investment: $525,100 to $2,622,400 Franchise details: Taco Bell This quick service restaurant brand has been around for 50 years and developed financial stability and brand recognition. It has a proven operating system and gives you access to restaurant resources and a community of more than 350 franchisees who know the business.
Hardee's Restaurants Franchise fee: $25,000 to $35,000 Initial investment: $1,600,000 to $2,120,000 Franchise details: Hardee's Restaurants Hardee's is a subsidiary of publicly traded company CKE Restaurants, Inc., and it's one of America's premier burger brands. It offers classroom and on-the-job training, as well as assistance with advertising, social media, SEO, website development, email marketing, and loyalty programs.
Sport Clips Franchise fee: $59,500 Initial investment: $224,800 to $373,300 Franchise details: Sport Clips Sport Clips is growing and showing its strength and stability — it has a high continuity rate of 95.4% over the past five years. This means that out of all the stores that opened throughout the last five years, more than 95.4% of them are open today. It attributes this stability to relatively low startup costs, a solid support system, and continual monitoring of store performance.
Low-Cost/Cheap Franchises The initial investment in a franchise can be pricey, and range anywhere from a few thousand dollars to over a million. If you're looking to purchase a franchise at a lower price point, there are options for you in a variety of industries.
Cruise Planners Franchise fee: $10,995 Initial investment: $2,095 to $22,867 Franchise details: Cruise Planners Cruise Planners is a cruise planning agency. It's home-based, so you don't need to factor in the cost of real estate. Prior experience in travel planning is not required, and the company offers comprehensive training.
SuperGlass Windshield Repair Franchise fee: $9,500 to $28,500 Initial investment: $9,910 to $31,000 Franchise details: SuperGlass Windshield Repair SuperGlass Windshield Repair has been operating for 30 years and specializes in the repair of rock damaged and cracked windshields. Overhead costs can be kept low due to its mobile option — a physical shop location is not required.
JAN-PRO Franchise fee: $2,520 to $44,000 Initial investment: $3,985 to $51,605 Franchise details: JAN-PRO JAN-PRO is a commercial cleaning franchise whose clientele is other businesses. They offer three options for franchising: international master franchise, executive business, and home-based opportunities.
Jazzercise Franchise fee: $1,250 Initial investment: $2,500 to $38,000 Franchise details: Jazzercise If you're looking to start a low-investment, exercise business a Jazzercise franchise might be a good fit for you. It offers various price points to begin a franchise and you can find the one that aligns with your budget.
Dream Vacations Franchise fee: $495 to $9,800 Initial investment: $3,245 to $21,850 Franchise details: Dream Vacations Dream Vacations is a home-based travel agency franchise with no overhead or inventory — this keeps the cost of initial investment low. It's a great option for military veterans and offers discounted investment prices.
Best Franchises to Open and Own Freddy's Frozen Custard and Steakburgers Culver's Butterburgers and Frozen Custard Planet Fitness School of Rock Nothing Bundt Cakes Pure Barre Right at Home Soccer Shots Mathnasium
Forbes partnered with FRANdata to assess and assemble a list of the best franchises. Here are the criteria used to evaluate 3,300 franchise brands:
System sustainability System demand Value for investment Franchisor support Franchisor stability Below are some of the top picks from the best franchises to buy list. The key points the list looks at are the midpoint (average) initial investment, the franchise's growth rate over the past five years, and the number of franchise locations, or franchise units.
Freddy's Frozen Custard and Steakburgers Midpoint initial investment: $1,295,964 Five-year growth rate: 31.3% Total franchise units: 282 This fast-casual restaurant is known for its burgers and freshly-churned custard. After your initial investment and depending location and whether you're buying or leasing property, you can expect your restaurant to open in eight to 18 months.
Culver's Butterburgers and Frozen Custard Midpoint initial investment: $3,347,500 Five-year growth rate: 6.50% Total franchise units: 641 Founded in 1984, Culver's has been in the burger and custard business. It's a top franchise and offers an established operating system with over 35 years of experience.
Planet Fitness Midpoint initial investment: $2,545,915 Five-year growth rate: 22.00% Total franchise units: 1,494 Planet Fitness is known for it's Judgement Free Zone philosophy — making first-time gym users feel comfortable as they begin their fitness journeys. This gym has over 14 million members and franchisees have a median annual operating income of $567,000.
School of Rock Midpoint initial investment: $237,975 Five-year growth rate: 18.5% Total franchise units: 176 School of Rock is the largest music education franchise in the United States and has more than 29,000 students worldwide. This music business was started in 2007 and is still growing — between 2014 and 2018, it added 70 units to its franchise system.
Nothing Bundt Cakes Midpoint initial investment: $483,437 Five-year growth rate: 32.1% Total franchise units: 239 This bakery is unique because, despite being a franchise, it has a "Mom and Pop shop" feel. There are locations across the United States, and its cakes have been featured in popular media like Food and Wine Magazine, Food Network "Unwrapped", and Franchise Times.
Pure Barre Midpoint initial investment: $234,400 Five-year growth rate: 39.5% Total franchise units: 472 Pure Barre is a popular, boutique fitness brand with nearly 600,000 clients. The business offers multiple revenue streams: bar classes and active wear. And it provides support and training for real estate, operations, consulting, marketing, and more.
Right at Home Midpoint initial investment: $113,650 Five-year growth rate: 14.8% Total franchise units: 475 Right at Home is an industry leader in home care and its mission is to improve the quality of life for its clients. It provides new franchisees with comprehensive training, and you don't need prior business or home care experience.
Soccer Shots Midpoint initial investment: $47,492 Five-year growth rate: 11.1% Total franchise units: 195 Soccer Shots is a children's soccer program with a focus on character development. It has a low overhead cost, supports its franchisees, and has well-established relationships with national brands like Adidas and the U.S. Soccer Foundation.
Mathnasium Midpoint initial investment: $130,930 Five-year growth rate: 19.9% Total franchise units: 797 This math learning center opened in 2002, and its mission is to "help every child understand – and master – math." Mathnasium has earned many accolades, and over the past four years, average per unit gross sales grew 10% annually.
Most Profitable Franchises Dunkin' 7-Eleven Planet Fitness JAN-PRO Taco Bell Orangetheory Fitness Great Clips Mac Tools Cruise Planners Jazzercise McDonald's RE/MAX Jimmy John's Gourmet Sandwiches Papa John's Anytime Fitness
When you're evaluating a business investment, it's important to know if the opportunity is worth the money. The franchises listed above are seeing the largest growth in franchise locations over the past year, which is one of the key indicators of profitability. Determining the profitability of a franchise isn't an exact science, but there are a few factors to consider:
Unit growth: See how many units (franchise locations) have opened in recent years. New franchisee success rates: Look at the percentage of new franchises that are still operating after a year. Franchisor's financial statements: Analyze the franchise disclosure document and look at average sales per unit.
Whether you're looking for a low-cost franchise, or ready to go all-in on a high investment franchise there are options for you. To learn more, read about how to become an entrepreneur next.
why did this guy get 'most helpful' for copying and pasting this stupid article?
Mcdonalds easily, recognizable all over the world.
VILLAGE INN
Is this a joke? If this is the same Village Inn restaurants, I believe they recently filed for bankruptcy and are closing a bunch of restaurants.
However if this is a franchise, the units in bankruptcy and/or closing, may be due to a franchisor that is a poor operator.
ofc it’s a joke they suck
The fitness brands like orange theory and planet fitness sound like horrible propositions, no brand equity at all (except a reputation for fat clientele at PF) and no real competitive advantage over a local competitor. Point of a franchise is that the reputation of the brand carries you from day 1. McDonalds hands down.
Fitness scares me. I’d kind of like a Sonic but McDonalds is a helluva lot safer IMO
Honestly the idea of 7/11 seems really good. They can’t get “Amazoned” imo. If I have to go to a 7/11 it’s because I really need something right now. Otherwise I won’t stop by.
Have you been to any of the Amazon Go stores? Their concept isn't a competitor for 7/11, but was just curious.
Some of these other smaller franchises have an initial investment of $50,000 to $250,000, and an average annual profit of $50,000. This sounds like a pretty good deal if you have a higher appetite for risk.
None of them.
You want to be the franchisor, not the franchisee.
New York Knicks and fix that sh*tshow of a franchise.
Assuming money is no object, a sports franchise specifically an NFL team. I would be surprised to find an NFL team that isn't profitable.
The 2008 DETROIT LIONS have entered the chat
I'd expect a terrible return on investment though, given the premium prospective owners are willing to pay just to be part of the exclusive club.
HBS and Stanford are predominantly known for their search funds in this regard, or that was my understanding.
Do more people go into franchising as opposed to buying small businesses with competitive moats at a 4-5 EBITDA multiple?
Excluding top MBA people, I do think franchising is a lot more common. One of my cousin's spouse franchised 5+ restaurants and has made a very comfortable upper middle class lifestyle from it. Only downside is a ton of travel (they had to move for family reasons and the franchises are located in two states over).
Richest person I've met 'searched' twice. Once in the early 90s and once in the mid 2000s with a company he still holds now (I know the one he has now is a diversified private IT company, I think the old one was more so a hardware company).
Generational wealth is probably more attainable via a search fund / holding company structure. At least where I grew up that was always the case. The 'rich' not 'upper middle class' wasn't the bankers / doctors. It was entrepreneurs who hit it big by taking a lot of risk on (search fund, SBAs to franchise, buying small local businesses + optimize the operations under a holding company). One of my relatives went this route and was able to retire in his early 40s as a 8 digit multimillionaire (chose not to).
TLDR: Reality: the good franchises are taken or aren't interested in partnering with you or your location. You may think you have the sickest location imaginable, but they aren't interested, and it's not because you aren't strong enough financially or because you lack experience. They just aren't interested in your location, for reasons that will remain unexplained. If you follow up to understand their reasoning you are ghosted.
-- For me, it's got to be selling a product that I believe in. For example, I would never be proud of myself to own a McDonald's that serves addictive, unhealthy junk food garbage. I'd love to own a fitness franchise, such as CycleBar (a SoulCycle and Flywheel competitor), but I don't believe in the business model--I think fitness is a poor place to be in (of course, the outliers with uber success being the exception). It would also have to be a franchise with a meaningful brand name, otherwise I could just open my own [insert industry business] and avoid upfront and ongoing franchise fees.
I've been through years of studying franchises, and I think the one that makes sense to me from an ethical, financial, and brand perspective is a coffee franchise, such as Dunkin' Donuts or Krispy Kreme's more coffee-oriented franchise locations. Problem is, Dunkin' seems to have its franchise territories locked down; if there is a logical Dunkin vacuum it doesn't matter because someone somewhere has locked down the open-ended right to all Dunkin' locations in that area. Krispy Kreme told me to go fornicate with myself when I pitched them an incredible location with no franchises around to cannibalize (closest one was 20 miles away). So that also seems like a dead-end.
I REALLY loved the idea of a dry clean franchise. After looking up the franchises, the only dry clean brand name that was so good that it would self itself is Tide Dry Cleaning, and I was told by corporate that they have zero interest in opening up within 200 miles of my desired location. After all, all my location has is high incomes and huge populations.
As a Virginia Class A Residential Contractor, I really love the idea of being a certified third party installer for Tesla Solar Roof. Tesla publicly announced that it wants to begin certifying third parties to increase their installation rate. When I inquired into Tesla I was met with a month of radio silence and then a polite "buzz off, we aren't interested" when they finally got back to me.
There is a really cool company that installs geothermal heating/cooling systems in New York that partners with third parties for installation. I followed up with them about selling their business in my area and certifying my company for installation. Again, I was told to buzz off.
Have you considered trying to build (or buy) the similar version of the franchise that keeps saying no in that area, and simply 'copy' them to the extent possible? Or is that a no-go and you want the plug and play model, branding, etc. the franchise offers?
I have considered it, and it's possible that I create a brand that inadvertently takes off and makes me a billionaire. But it's much more likely that my brand flops and I go bankrupt, and that I'd be more successful using an established brand that people know and love.
BUT, after so many "nos" I may have to more seriously consider it, tbh
So why are the good franchises telling you to buzz off? I'm not sure I understand. Any insights?
Interesting to hear about your experience. I love McD - and I remember chatting with someone with actual experience in the field, he told me - name a place where you thing a McD would do well where there isn't a McD already. Thought for the longest time, and could NOT for the life of myself find a location that didn't already have a McD.
One interesting one - with the death of the shopping centers across the US and here in the UK. Location that you thought were attractive back in the days are now ghost towns, franchises are not willing to move in.
Could it be your lack of experience in the domain the franchise owners are telling you to bugger off for?
They aren't even investigating my background. They are straight-up telling me they aren't interested in the area. The area in which I live is one of the wealthiest and most vibrant areas in the world. My estimation is that the "good" (in-demand) franchises don't even consider solicitations. If anything, they probably reach out to certain people on their list who they want to expand with. They want to expand in City X they reach out directly to certain people on the list directly. That's my best guess.
Doesn't want to buy a mcdonalds due it being unhealhy and contributing to obesity
Does years of research and decides buying a mother fing KRISPY KREME donut shop is the best play.....
BRuh
Bruh, the bulk of sales at a KK or Dunkin is coffee. Also, no one is getting fat off KK or Dunkin donuts (treats). People are getting fat off of addictive fast food meals.
I used to think McDonalds was unhealthy, but don’t think so anymore. I think it is a great business that offers good food at a reasonable price. If you’re fit, the calories obtained from the food are healthy in moderation. There is a top pro triathlete that swears by carb loading McDonald’s fries before cycling. I pretty much do the same thing except my restaurant of choice is Chick Fil A. I carb load with 1-2 large fries and sometimes Mac and cheese before long cycling rides and always feel energized and good to go.
I don't think an athlete Carbo loading on fast food can redefine fast food into being not unhealthy.
I like the idea of an indoor cycling franchise, but am not a huge fan of Cyclebar. I think the bar aspect is stupid.
The US could really use a nationwide cycling studio and I think there is much demand for it after this Covid thing goes away. It is definitely on my list of businesses I would like to start if I had 8 figures to burn. I would even be open to teaching some classes for fun. I think cycling is a great way to burn calories and would also try to have some long endurance sessions for the dedicated people lasting 2-5hrs on special occasions. My ride tonight on the indoor cycle was 101mi and I burned 2,600 calories. Cycling is a great tool for physical fitness.
What are your thoughts on commuting to work on a bike? It would be interesting if the US had something like the Dutch bike network, or this German concept to create a bike highway (granted, their cities are a lot closer to each other, but still).
DPZ
Not to lie and be straight forward, Mcdonalds. Kids will beg their parents to get a happy meal with the toy. It is a clever tactic for them to get food, the toy, and the playground. I know a 7-11 owner but I honestly don't think he has a profit margin that can be competition to other businesses. Worst of Worst, maybe Tobacco or Beer.
An NFL franchise.
Wouldn't we all lol
Five Guys. Former small business lender, I specialized in lending to franchisees (SBA paper), never saw a Five Guys fail or do less than 1mm top line. Consistent margins across the board, as well - all location results are reported centrally and available to unit-operators, who provided me the P&Ls for comp analysis. They print money. Honorable mentions are Arby's, Zaxby's, Marco's Pizza, and UPS Store. Arby's and Zaxby's entry costs are significantly higher because they require standalone RE locations, they don't do leasehold locations like the others I listed. So you have to factor in land acq costs and ground-up construction, as opposed to build-out of a gutted unit in a strip center.
Echo what was said above about CFA.. by far THE hardest franchise to get into. Its selection criteria is way more qualitative than any other franchise (most all others look to liquid/net worth, maybe prior industry/relevant experience.) One could have 8 figures liquid, and if they don't "like you", you're not getting in. They also finance their franchisees in-house, no banks. Makes sense. In my experience, the more controls the franchisors put into place, the more successful the brand, and thus the franchisees, are. Subway, as a counter example, would let a zombie open a location as long as they had the ~15k initial franchise fee. Thus, the higher turnover/failure rate of locations. Ever seen a CFA go dark? I haven't.
I know of a number of examples of Five Guys closing.
Have you found any other interesting business models since 4 years ago?
Are five guys franchises for example still as strong as pre covid?
Wawa
Sheetz >
McDonald's rapes their franchisees every way possible. I have no information but I feel like UPS store would be the best for absentee ownership just in terms of having no necessity to be there in order for it to run.
Taco Bell for sure, ever eat a Quesarito at 3am? Shit slaps.
You should look up “Search Funds”. I believe it was Stanford GSB who coined the term.
Out of a Stanford MBA new grads can expect to earn in the $200k park while searching for a business and then buying and operating said business.
I'd buy one with a great brand name but struggling.
I'd take over, make it lean and mean like I like my meats. All I have to do is optimize the cost structure and bring back the brand somewhat close to its former glory. That ought to make some dough.
I will own a fucking Wing Stop
"Wingstop, fat boy need a 10 piece"
I’ve never been to Wing Stop - do they have Pizza too?
They don’t have pizza; but if you like wings, that’s the gold standard right there. Their fries are bomb asf too (with their house ranch). I get a fat ass 10 piece for my cheat meals sometimes
bruh CFA mac and cheese is so good
I'd love to own a few car dealerships. Yes, I know the dealership model is dying, but being a sleazy car salesman seems like a lot of fun.
The successful ones make a ton of money. Some higher end brands are great too because often times their service dept is the section that provides the most profit by far, or covering a huge portion of fixed costs at least. Also, the stronger dealership groups/families (usually family companies) own several different brands (Toyota and Mercedes, e.g.) so that depending on market conditions, they can still do well. Better yet, an RV dealership is better since those end up almost going entirely to the bottom line.
You're right though about the model overall. Another trend is that private dealerships are getting bought out by the public dealers (Penske, Lithia, Camping World, etc.).
Why is the rv dealership model more optimal compared to other types?
Jersey Mike's or Row House in northeast.
Jimmy John's in a college town.
Giving the right to use their benefits, brands require the franchisee to fulfill specific obligations. Some franchisors provide legal entities with a minimum of freedom of action, and some give them extended powers in order to promote the brand. The "set" of the franchisor's requirements and the franchisee's powers determines the type of franchise. Business franchise. This relationship format involves the transfer of a well-established business model - everything you need to get started right away. The franchisor assists the franchisee with staff training, selection and design of premises, and advertising. Many franchises of fast food restaurants and coffee houses work according to this scheme. Commodity franchise. This type of franchising gives the acquiring company the right to distribute the franchisor's products. The franchisee purchases a batch of goods and sells it under the brand logo, and the franchisor is engaged in local promotion, usually at the national-regional level. Salons of automobile concerns and stores of many brands of shoes, clothing and underwear are opened under a commodity franchise.
The choice is yours.
Factors to Consider when Selecting a Franchise
whats good with all these bots wtf
Senior Home Care. I forgot which company I came across had a pretty interesting franchising model (I think the pricetag was <$100K). Would be pretty cool to attempt to run one in immigrant neighborhoods with well-trained individuals who speak their languages. Many do exist but I always felt the stories I've heard about some of these companies indicate they're poorly run.
I'd buy the Lions and then relocate them to Alaska, show them all that they really can't have shit in Detroit
That's an interesting question and I would really like to know what you decided.
Mattress Firm...no idea what the margins on their "legit" business is, but we all know it's a front for money laundering so I'm all in to go full Marty Byrde
Jersey Mike's Subs... 1% failure rate. Expensive to start and strict vetting
Planet fitness in a fat area of the US. Pay for a shit ton in advertisements and 90% of PF members wouldn’t go after a week and less than 2% would even be bothered to cancel their membership
Naya
Bring naya to europe
Small market baseball franchise (As? Os? Brewers? Twins?) You don't even need to put a decent product on the field. Just show up and collect the revenue shearing $$$. As much as I think the Yanks could be better run, it's a much tougher business than the small market deal.
My poster child for this used to be the Rays, but they've been good lately. (One of these days I need to actually go and see the Trop and bask in the train wreck, but seriously, it doesn't matter. Camden Yards might be the best stadium in baseball, the Os still suck)
I've been exploring for a few years. I'm keeping McD's as the goal, saving towards the capital requirements - you need much less in the UK than the US to buy a McDs (as you typically buy in to an existing store rather than build a new one). I've attended franchise fairs and met the franchising team through webinars (socially distanced during Cov-19). There are of course con's to McDonalds franchises, such as having more rigid and restrictive processes, so I am keeping my options open and researching up-and-coming brands too. There are plenty of podcasts and twitters regarding franchises that are quite helpful for due diligence.
I've researched other avenues, like fitness and elderly care too.
Gas station franchise. My first internship was in downstream energy / c stores. Absolutely loved that bank.
Don’t have a specific franchise in mind but would love to operate a gas station in small town central Texas where I grew up. Instead of the standard barbecue or fried chicken QSR inside the c store, though, I would have hawaiian food like L&L. Pulled pork and malasadas … nice. Planning to save 2-6 million to buy a profitable gas station in the next 10-15 years and reinvest cash flows into the QSR project.
I’m a huge car guy so I would just build the gas station that I would love to stop by every day. Stock classic snacks like charleston chews and grape crush. Would also include an E85 pump and an EV charger. I love Buccees so it would be neat to emulate that quality in a single destination. Wouldn’t be easy but worthwhile if people enjoy cruising by.
hello
If I had to dive into the franchising world tomorrow, I'd definitely go for fitness studio franchises. Why? Well, fitness isn't just a trend; it's a lifestyle, and people are always looking to stay active and healthy.Plus, with a fitness studio, you're not just selling a product; you're building a community. It's about helping folks achieve their health goals, and that's super rewarding.On a personal note, I've been thinking about opening a fitness studio franchise in my town. It's a way to tap into that local fitness vibe and make a positive impact on people's lives while running a business I'm passionate about.
2 come to mind
Scooters Coffee - small footprint, can run with basically 2 people, dont need to deal with labor, all drive thru as well. Ask any fast food franchisee and the worst thing to deal with is employees and customers. Also, food is easier to make nothing too involved
24/7 Fitness - in the right locations these do well, again need nothing in terms of staffing. If you love to work out can just hang out there all day. Fitness is full of trends, but fitness itself is not a trend and not going anywhere
Build your own business my man
Buy a stake in a used car dealership in some random town and let it print money for you.
Also car washes and convenience stores.
For me it is 100% hands down laundromats. Roll 20 - 50 of those up and spin them off to a PE shop. Rinse and repeat.
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