S14 n Tsx

Any experience in this business?

I been looking to buy a franchise.. what do you guys recommend?

I looked at Subway and chipotle so far. I am leanning towards Subway because over head cost isn't so bad to start one up, and their franchise fee is pretty reasonable. I also heard lot of good things about subway...

I think those are good franchise to begin with, but my knowledge in fanchise is so limited.... If you guys know something that you guys can recommend, I appreciate it.


My budget is between 200k-300k.

http://www.subway.com/subwayroot/Dev..._US_Canada.pdf

This is what I found through Subway website.... definitely fits into my budget.

The Dougler

iTrader: (1)

Open a Tim Horton's. Most franchise's recover start up costs within 1 year from what I hear.

vas25tl

A friend of mine bought a Jimmy Johns 3 years ago. He just opened his 9th store.....doing very well.

hornyleprechaun

Jimmy Johns are the way to go IMO.. they are just like Subway, but 100X better tasting. You could PM juniorbean or I'm sure he'll see this thread.

BubbaMarkTL

take juniorbeans advice with a grain of salt...his business failed....

doopstr

ouch

S14 n Tsx

I never heard of Tim Horton's before... as I thought, this is more of east coast and canada thing. I am not sure if this franchise will work over in west coast. The perfect example would be dunkin donuts... dunkin donuts does well in east coast but not in west coast.

hmmm... I just checked it out and looks pretty good.

that's what exactly what I want to do... My goal is to open up to 10 stores?

I will pm juniorbean.

Thanks everyone!

doopstr

My only advice is that you need to be very careful when running a business that operates with cash. It's very hard to find an honest person to run a store. They can easily steal money and food.

There's a reason why owners of successful shops are always onsite.

I worked at a family owned fast food joint once. There was always someone from the owner's family onsite. I've also worked in other retail places and seen what can go on when the rooster is not in the hen house.

hornyleprechaun

S14 n Tsx

obviously that is something that I will have to worry about further down the road but I am aware of that.

I do appreciate your kind word...

gatrhumpy

iTrader: (1)

I thought about investing in a Jimmy Johns here in Orange Park in Jacksonville. I don't know of one Jimmy Johns in Jacksonville, and have only ever been to the two in Gainesville (about an hour and a half away).

trojanman10984

iTrader: (1)

my cousin owns and operates 14 subways....its a great franchise to operate if your willing to WORK....you will fail if your not actually on property keeping an eye out and doing things your self!
just like Doopstr said...i own and operate my own hotel and i can say i work 7-4, 7 days a week and am interacting with my employees every minute they are here...the more your physically involved the better chance you have to succeed. not including thatll cut payroll!!

trojanman10984

iTrader: (1)

look into a motel...a down payment of 200-300k you can start off with a decent property
or if you find a good investing group, start off great

Souljah

Look into something that will never die. Prostitutes.

gatrhumpy

iTrader: (1)

I thought Hooters already had a restaurant?

S14 n Tsx

what happened?
I'm very aware of this issue... I learned it from my parents. They been doing business for 20+ years... so order to have full control of business I need to be there to watch what's going on.
How's the motel business lately? My original idea was get into motel/hotel business.

gatrhumpy

iTrader: (1)

Nothing. Never materialized past the thinking stage. Granted, I have the business sense to draft and am able to draft a business plan and would be able to run it, but being a full-time Government worker kind of crushes this. I would need to have someone manage it full-time, and I have heard that you have to place an enormous amount of trust into that person. I don't have that trust.

I know it would make money, just don't have the collateral to do that.

justnspace

iTrader: (1)

Any one heard of the Earl of Sandwich?

gatrhumpy

iTrader: (1)

S14 n Tsx

If I do decide to go into this business, I might run as full-time manager for a while until I can find someone I can fully trust on.

trojanman10984

iTrader: (1)

it depends on the your locating and flag to be honest these days, unless you run across an incredible deal through a bank that foreclosed on a property. thats the situation im in, i have a 4 year old property that grosses the amount of what i should have paid twice as much as i did for it.

id imagine there is still a good bit of traveling on the west coast dispite the economic situation

5o9

Don't know the current situation, but used to be lots of franchisee lawsuits against Subway. Back awhile, seems like if they knew you had a unit doing well, they would fill in another store nearby to canabalize your sales.

S14 n Tsx

how did you get into this motel/hotel business? have you taken classes or you graduated with hotel management? I graduated with management but I feel like I gotta go back to school just to learn hotel management before jumping into this field.

that's pretty messed up.

trojanman10984

iTrader: (1)

my dads been in the business for about 16 years now. so ive been working for him since i was like 10 and eventually starting managing one of his properties and saved up enough to finally invest for myself.

its really not much different than any other business would be.
also whatever franchise you choose to have for your property, they off "manager training" courses.

no need to go back to school for it!

doopstr

You guys are onto something with the hotel/motel thing...
http://money.cnn.com/galleries/2010/...e_rates/7.html

5o9

Think Cornell School of Hotel is the Ivy Leage of hospitality. Johnson & Wales comes to mind as kind of the community college of the industry. With hotel reits and such, could be a promising career

mrconnecticut

you don't technically need to be there.. there's security camera's you can set up at the business and watch what every one is doing straight from home

S14 n Tsx

My parents and I are going to hit some spots on tuesday to find a place to start my business. I can't wait.

S14 n Tsx

funny. My dad showed this article that he found in Korean news paper.

My parents has this setup for their business and works like a charm. Whenever they aren't the store, they can see everything from their computer.

trojanman10984

iTrader: (1)

i have the same setup...but i only use it when im not actually there...i feel its best to be hands on and know your business better than anyone else.

no will put as much effort or heart into someone elses business as you will your own. therefore if you want it done right its best to do it yourself or keep a close eye. and ive learned they will put more effort into their work if they know, you are always around the corner

trojanman10984

iTrader: (1)

best of luck keep us updated

vas25tl

I can't believe that a Subway start up fee is only $15K

S14 n Tsx

Thank you! I will keep you guys updated...

It's Clutch

iTrader: (6)

okay total noob here. Say I open a Subway and consistently monitor and choose a great location with lots of sales. What is the average amount of time it takes to break even and start making a profit? I've been interested as well, but I don't even know how or where to start.

Mizouse

interesting...


would opening a franchise eventually make me a rich bitch?

http://www.youtube.com/watch?v=nC-wM...eature=related

DarkSithCL

iTrader: (1)

yup .. I eat there whenever Im on that side of town...great food... but I only know of that ONE location in SW Htown

DarkSithCL

iTrader: (1)

Man, 15 K in and ur off? thats really good... location is key... research > * ... praying you do very well with whatever you choose... in this economy working for yourself is key!

speedemon90

So which franchise are you looking into? Subway?

The problem I see with subways is location. There are so many subways now that pretty much every key location will be taken. So I would guess it will take a while to find that right location. I would suggest a place where a lot of offices are located, I'd bet subway would be a popular choice for a lunch break.


This is a random thought, and I have no clue if its possible, maybe subway has some rules against it though. But say you found a great location where during lunch hour you are expecting huge lines, why not have two stations in the same location to get more people in. I know lines will drive away some customers as long as there are other near-by choices.
Haha that idea just hit me, maybe it is or isnt a good idea, but I just wanted to share.

Good luck with you business

trojanman10984

iTrader: (1)

with low over head and great location...you could start profitting first year.
the key is keeping your over head and daily expenses to a minimum but also having a certain appeal to your store....tough thing to manage and keep at a 50/50

speaking of location...try walmart or target. my cousin has 2 in walmart and says they are his two highest grossing stores. or even an industrial park location like stated above

doopstr

It is much higher than $15k. $15k is the franchise fee. You don't even have a location yet...
http://www.subway.com/subwayroot/Dev..._US_Canada.pdf

My suggestion for location would be an area where there are a lot of employed people needing to eat lunch. The only problem with my suggestion is that those areas are probably dead on the weekends. I like the above suggestion of trying to get into a Walmart or Target.