Franchises

[debfer]

Hi there- I was wondering if anyone out there has ever tried buying a franchise (on the smaller side-something that just one person could do) and what your experience was with it?--deb

 

[Beavs]

Hopefully you aren't considering a Quiznos. There was a rather interesting write up in the NYT about how they mislead franchise investors and make it nearly impossible for them to turn a profit.

 

[debfer]

No I wasn't considering Quisnos- there are all sorts of franchise opoortunities out there and the costs range from $6,000 and upwards into 6 figures-I just wondered if anyone had ever invested in one and how it went--deb

 

[hiitdogs]

I personally haven't invested in a franchise, but a couple of my friends have, for two of them it went phenomenal and they are doing exceptionally well, they have become millionaires in just a few years, the other three went belly-up.

I guess it depends on what the franchise is, you need to do research on what location, who your clientele would be, do some leg work and put together a business plan before you commit to buying any franchise. AND know the business, as a novice in a particular field you may set yourself up for trouble.

Just my 2 cents.

Carola

 

[ejostling]

If you live in Michigan's South East side, please open a "Sonic", I see the commercials all the time and just drool. Banana Nilla Wafer Milk shake, YUM! In all seriousness, I would love to be my own boss, but have no idea how to come up with the money.

Sally

 

[Beavs]

New York State has a small business development center that helps small start up businesses get off the ground. Yo may want to see if your state has a similar program and if they do I would take full advantage of it. Good luck! I have a lot of respect for someone willing to take a chance on their own and stop working for "The Man."