Posted on 02/06/2020 6:26:03 PM PST by ameribbean expat
I know someone who did exactly that. They were a successful professional employee with money to invest in a franchise not CFA) but wanted more inside knowledge. They were lucky enough to get a franchise and kept it for about two years learning all the ins and outs. They then acquired two franchise operations and because of connections and knowledge had money to expand rather rapidly. last time we talked about seven months ago he has seven locations with one company and twelve with another.
“Yes, you are buying a job, one where the average yearly income is $100,000.”
And an endless supply of chicken sandwiches.
The acceptance ratio of 0.1% means that it is a GREAT deal.
If you don't like it, save up another $990k, and think about a McDonald's somewhere (but not too good a location because that one is $2,490,000 more).
Two years running a Chick-fil-A and one can borrow the money to establish some other kind of franchise.
I can see the appeal to some, but each time I look at the returns, I think it’s better to stick at a salaried job.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.