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re: Is a fast food restaurant a good investment?
Posted on 6/4/12 at 10:33 am to Zukitiger
Posted on 6/4/12 at 10:33 am to Zukitiger
Like many others have said you won't make any money with just one FF franchise, you have to have 3+.
Also, you don't always get to pick the location. McD's for example - you qualify via your liquid assets / net worth then your name goes on a list. McD's decides where they will open a new location. If it is within an existing franchisee’s area they get first dibs. If not, they go to the aforementioned list. You could wait years before you get one.
As for DQ, not familiar with how they do it but I would imagine you don't get near the corporate support as a McD's/Sonic/etc gets. I've seen many DQ's go under. Can't say that I've ever seen a McD's shut the door.
Look into ice vending if you don't have any of those in your area. No dealing with $5.50/hr employees...
Also, you don't always get to pick the location. McD's for example - you qualify via your liquid assets / net worth then your name goes on a list. McD's decides where they will open a new location. If it is within an existing franchisee’s area they get first dibs. If not, they go to the aforementioned list. You could wait years before you get one.
As for DQ, not familiar with how they do it but I would imagine you don't get near the corporate support as a McD's/Sonic/etc gets. I've seen many DQ's go under. Can't say that I've ever seen a McD's shut the door.
Look into ice vending if you don't have any of those in your area. No dealing with $5.50/hr employees...
0
Posted on 6/4/12 at 12:52 pm to Zukitiger
The keys to successful fast food franchising are location, location, location and solid management.
Most good franchises have solid metrics like menu and restaurant preference indexes combined with population, age and wage demographics to determine the best restaurant opportunities. Again, location is huge.
Most major franchises (McD's, KFC, TB, etc) require you have at least $1-5 million in liquid assets to get started and you'll pay part of the gross or net revenue to the franchisor. Revenues $100-300K are typical depending on the franchise. The guys making real money own several franchises.
Most good franchises have solid metrics like menu and restaurant preference indexes combined with population, age and wage demographics to determine the best restaurant opportunities. Again, location is huge.
Most major franchises (McD's, KFC, TB, etc) require you have at least $1-5 million in liquid assets to get started and you'll pay part of the gross or net revenue to the franchisor. Revenues $100-300K are typical depending on the franchise. The guys making real money own several franchises.
Posted on 6/4/12 at 7:28 pm to wiltznucs
This may be the only FF Restaurant I would own but not the only business. If it would bring in 80-110k a year I would be happy with that.
Posted on 6/4/12 at 10:21 pm to Zukitiger
Anytime fitness is $73k-$115k. I wish I woulda done one instead of the one I got into. Praying for a few more miracles to launch this thing
Posted on 6/5/12 at 6:09 pm to JPLSU1981
quote:If you had one in a very busy airport(Hartsfield, OHare) on the right concourse, you would make tons of money.
Not a whole lot of money in the food business unless you own multiple properties.
Posted on 6/5/12 at 6:12 pm to wiltznucs
100K in yearly revenues for any McDonalds seems incredibly low.
Posted on 6/5/12 at 11:46 pm to foshizzle
quote:
Could be a very good result, or a very poor one. Or anywhere in between. Execution is everything with these businesses, a good brand can help but nothing beats extremely solid execution.
As important as anything else is location. And I mean down to what side of the street you happen to be on.
Posted on 6/6/12 at 1:26 am to lil 7thward
quote:
Hartsfield
Popeyes there makes bank. Thats the only one the guy owns, and its all he needs.
Posted on 6/6/12 at 6:04 am to dgnx6
quote:
Hartsfield
quote:
Popeyes there makes bank. Thats the only one the guy owns, and its all he needs.
I bet, it's cut throat trying to get a FF restaurant in Hartsfield. Too much money flowing in and out of there.
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