anybody here ever bought a franchise?

Question

if you have, please list the franchise you bought and how much did it cost for everything.

Answer 1

Well I have had a few friends that went the franchise route. One of them went the route of "beat the bookstore" college books retail store. He paid a lot of up front costs, his building, his computer system, Payroll and Accounting software, and then he had to buy books for 6 months before he could open up shop. Then his business was sporadic due to the ebb and flow of semesters and he closed his doors 2 year into it and took a huge loss.

Another friend went the route of a battery reconditioning and sales store. He had a very similar experience. But his was prolonged he lasted nearly 3 years but his costs were higher all the way around.

Franchises can be a good situation. If you have the capital and credit and are committed to make it work. Both of my friends worked 12+ hour days the first year and at least 8-10 hour days after that. It is a system and it can be easier than starting from scratch. But it doesn't mean you are going to make it, nor be super profitable.

Since you are looking at opportunities take a look at my "honest opportunity" blog on my 360 page for some things to look for when looking at a business opportunity. Also take a look at the "protect and grow" blog for some tools to make you business more successful once you get it going.

Answer 2

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Answer 3

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