Any franchise owners here?

[terribm]

I am looking into a franchise business. It appeals to me because it seems like a less risky business opportunity with built in guidance and training. Any advice?

TIA
T

 

[worm761]

I am not a franchise owner but have worked for a few. What kind of franchise are you looking into? There are a ton of books about it. I suggest you buy some and read a ton about them. The only thing I am familiar with is restaurants. I know that Subways are cheap to buy into. I almost bought one but became a single parent. It is too hard to get a business, even an established one, off the ground and running while being the sole parent of a high needs kid. You will be married to the business for the first few years.

 

[terribm]

The one I am interested in a proven, established restaurant. It is sort of a retro-diner. There are almost 100 located solely in NC. I think I need a partner. I don't have much business experience. I would do be better with the practical side of running a restaurant.

 

[mkel34]

Pretty random, I was just looking at what it would cost to startup a Buffalo Wild Wings this morning. Subway seems like a bargain, you could open 10 for the price of one BWW.

 

[kwelch10377]

I don't have an experience with them, but one concern that I would have for opening something that already has 100 locations in NC is that would opening another one be over-saturating the market? Will there be enough customers for your location.

If you don't have much business experience I would suggest finding a partner who does.

 

[worm761]

Restaurants are fun! I have always loved working in them. Just think really really hard before you do this. Most restaurants fail within the first 6 months, half of what is left will fail in the next 5 years. If you don't have both the business sense and the people skills, your business will fail. I have run restaurants for other people for almost 20 years. (I quit 2 years ago) It is not as easy as people think. I knew a manager that ran a million dollar store that could not make a profit to save his life. His expenses were too high.

Have you thought about taking some business classes at a local school? That might help you.

 

[luvmy3]

I am also interested in buying a franchise but I don't even know where to begin to research on what you really need to know to run one. Hopefully there will be some DISers who have been through it and post some advice.
Good luck OP, I hope it works out if you do it