Morning - does anyone have any experience past or current of buying / setting up as a franchise? I have a serious Plan B idea I'm currently researching and interested to hear any war stories.
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My father did this once.. Said he'd never do it again.. It's not that he wasn't busy, but the franchise fees (along with the 'you have to buy the products from us' rule) left very little margin at the end of the month..
Let's just say he ended up being a little 'inventive' as to his sales figures (and was buying products from another supplier) in order to get by..The "Fit" hits the "Shan" -
And what happens to your investment when the parent company goes bust? Like Coffee Republic?My all-time favourite Dilbert cartoon, this is: BTW, a Dumpster is a brand of skip, I think.Comment
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I heard recently that it costs £250k to setup a Dominos Pizza...
The cycle of life: born > learn > work > learn > dead.Comment
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You'd make that back in a fortnight though with their pricesOriginally posted by chris79 View PostI heard recently that it costs £250k to setup a Dominos Pizza...Every Saint has a past, Every Sinner a future"
Originally Posted by Pogle
I wasnt really into men at the time - IYKWIM
HTH
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Never had any personal experience of franchise's myself but know a few people who have and for majority the reports are pretty bad.
Basically conclusion I have drawn from those I have spoken to is, you are just buying a right to use a name/brand and the right for someone else to tell you how to run your business (and not necessarily to your business's benefit).
If that name/brand is not worth the cost/hassle in extra revenue it brings it is not recommendedComment
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A franchise is a great business for the franchiser not the franchisee.
HTHComment
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Franchise
I think you will generally positive and negatives for that one, and alot depends on your skills and the actual franchise.
I had a negative experience with a franchise. A very good idea with a poor business system, died a death after 12 months.
I have had clients with positive experiences.
You may want to ask, do you want to buy a business, or a job, some franchises are just jobs in disguise.
If its a business you are after you may want to be sure that you need the franchise and that there are real advantages ( to you !) of being a franchisee.
Its a big step, and so easy to lose money. But thats the same with any business i guess !
PhilComment
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Be very, very, very careful what you sign.
My son is a solicitor and recently had a couple in tears in his office because they had signed up to something which committed them to make monthly payments regardless of what income the business generated.
They couldn't generate enough income to cover the payments, and there was no way out of the contract without challenging it in court, with the risk of losing.
It looks like they are going to lose everything because of this.
HTH
Dave
ps I'm a poster from many moons ago, under a different id. I signed up again just to warn you. So be warned!Comment
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