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Thinking about buying a franchise
Posted on 2/8/20 at 7:34 pm
Posted on 2/8/20 at 7:34 pm
One of the guys in my real estate LLC is interested in starting some type of business. Figured it might be a good opportunity to expand our investments outside of real estate. We’d be willing for us to sell a piece of property and put about $500K towards something. I’m not interested in starting something extremely complicated or any type of restaurant. Any ideas of profitable franchises or businesses that we should look at? I know his first choice would be some type of gym, but it’s hard to find a lot of info on profitability and cost. I’ve also read some on places like UPS stores and Sports Clips. What says the money board?
21
Posted on 2/8/20 at 8:17 pm to Ramblin Wreck
Gym and profitable ????????
Posted on 2/8/20 at 8:25 pm to Ramblin Wreck
I use a UPS store as a business address and know the owner pretty well. He is at the store a large amount of time and has said he doesn't own the store, the store owns him. Most of the people I know that own franchises invest a lot of their own time in them.
Posted on 2/8/20 at 8:30 pm to Ramblin Wreck
Go to church more and get a Chik-fil-A
Posted on 2/9/20 at 7:16 am to EA6B
quote:
Most of the people I know that own franchises invest a lot of their own time in them.
This...if there was easy franchises out there with good returns for new investors then big money would be into them.
I’d be very very careful here OP. I think most franchises are going to require either a lot of time from a dedicated owner or not return what they try and advertise they do.
Maybe expand into a new type of real estate investment?
Posted on 2/9/20 at 8:44 am to Ramblin Wreck
I am a business banker in Baton Rouge and have financed a few of these. Sports Clips and UPS stores are actually some of our preferred franchises as they do a lot to support their franchisees. We finance them through SBA loans with loan downpayments 10% or so.
Why not try to diversify your real estate holdings instead? What property types do you have today??
Why not try to diversify your real estate holdings instead? What property types do you have today??
Posted on 2/9/20 at 8:49 am to EA6B
quote:
I use a UPS store as a business address and know the owner pretty well. He is at the store a large amount of time and has said he doesn't own the store, the store owns him
I'd say this is only true around Christmas, and even then if you hire enough help it's not bad at all. My father owns a UPS store, last year he made around 140k and puts in maybe 40 hours a week. He could definitely work less if he wanted. Ups stores are going to start requiring owners to open on Sundays for a few hours soon though. I know of a lot of good owners with great stores that are selling because of it.
Posted on 2/9/20 at 9:14 am to Ramblin Wreck
Met with someone recently who owned a UPS store for a while. He said it's only profitable if you own multiple stores. And wayyyy too much managing/babysitting. If you hire a manager then all your profits are gone.
Posted on 2/9/20 at 12:39 pm to soupboy10
quote:
Why not try to diversify your real estate holdings instead? What property types do you have today??
One of the main reasons we are looking at it is that one of the partners wants to quit his day job and run a business full time. I don’t have any doubt he will put the effort into it and we’ve discussed buying a business anyways for a few years. We presently own retail and office space.
Posted on 2/10/20 at 6:49 am to Im4datigers
quote:
Gym and profitable ????????
It is rare but I have a gym client that prints money. It's been amazing to watch over the last few years and I do not their secret sauce.
Posted on 2/10/20 at 2:49 pm to Ramblin Wreck
Amazon is looking to start their own shipping company so if/when that happens UPS may not be so lucrative.
Posted on 2/11/20 at 4:29 pm to Ramblin Wreck
Quick service food isn’t too bad.
Posted on 2/11/20 at 4:38 pm to TheOcean
quote:
Met with someone recently who owned a UPS store for a while. He said it's only profitable if you own multiple stores. And wayyyy too much managing/babysitting. If you hire a manager then all your profits are gone.
When I looked into buying a business, so many owner/operators wanted far too much for their business. I kept telling them "you are the business and you don't come with it when I buy it" But, they still wanted top dollar.
Posted on 2/12/20 at 8:07 am to Ramblin Wreck
Take a look at the salon suite concept.I own 3 in FL, A Suite Salons is the brand but there are a bunch of others. 2 do very well and one struggles. The one that steuggles is simply a bad location I let myself get talked into. These do pretty well as long as you locate them right.
Posted on 2/12/20 at 10:38 pm to Coomdaddy
quote:I'd probably go with a place that can be open on Sundays if thinking fast food.
Go to church more and get a Chik-fil-A
I'd also look around for an area that could use a storage facility
Posted on 2/13/20 at 1:23 pm to soupboy10
quote:
We finance them through SBA loans with loan downpayments 10% or so.
Can you message me at Rustcohle365@gmail.com?
Posted on 2/15/20 at 11:27 am to arcalades
Sunday is the worst day in the fast food business. There is nothing missing from the bottom line of CFA because they are closed on Sunday.
Posted on 2/15/20 at 4:28 pm to Ramblin Wreck
In GA, all you need is a coleman 10x10 canopy, a church table, and a lawn chair to set up your own olive oil labeled "cbd" operation to make thousands off of idiots.
Today there was one by a twice the ice operation in front of a vape shop in Loganville on high traffic hwy 78, and I thought of you.
Today there was one by a twice the ice operation in front of a vape shop in Loganville on high traffic hwy 78, and I thought of you.
Posted on 2/15/20 at 6:26 pm to Ramblin Wreck
quote:
One of the guys in my real estate LLC is interested in starting some type of business
Posted on 7/15/22 at 9:26 pm to Ramblin Wreck
I know a guy that owns a few of the disaster clean up franchises and he does well. Not sure if the name but they handle hardcore cleanups like methlabs and other bio hazard type stuff.
It’s not Servpro or service master.
I think his startup was fairly low too
It’s not Servpro or service master.
I think his startup was fairly low too
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