Want to open up a new Fast-food franchise!?

Question

Hey guys, here it i, I'm a college student and I have ambitions of opening up my own fast-food franchise.I guess I need to know the following;

1- How much capital would I need to open up and run at least one maybe two fast-food locations?

2- What should I be studying in college to be best prepared for a career as a fast-food business owner?

3-How difficult is it to actually succeed in doing this and how long will it take to actually begin making profit?

4-What states or cities have the best reputation for being fast-food restaurant friendly or in other words, where is it least cut-throat in opening and succeeding with a new business?

5-And last but not least, I am over 100k in school debt already and my credit is as bad as it can almost get, so how could I go about getting the capital to do this besides more school loans?

Also, if there are any great resources that experienced people could share with me or links or what have you, I would greatly appreciate it...Thanx everyone

Also guys, I thought I should mention that I can get still 100k in independent school loans cause my mothers my co-signer.

So I was thinking of taking this money and using it to open up a small restaurant (versus a chain) somewhere else like Spain, France, Australia or Argentina where this money would go real far....I speak Spanish and French and Portuguese and I've lived abroad for stretches before so I have no problem with this option, does it seem like a more practical and viable one then trying it here?

Thanks everyone

Answer 1

It's a nice goal you have to get into the restaurant biz, however, with 100k debt, it will be difficult to qualify for business loans at a fair, lower rate of borrowing and it will be a challenge to find a partner until you get your credit cleaned up.

The most important thing you can do, is work in a fast food restaurant as a manager and get friendly with the owners and let them fill you in on the business. All the college classes in the world are only theory, so hands-on experience is the best training you can get

Answer 2

$100 grand in debt and not even out of college? You are dreaming if you think some financial institution will loan you money to start a fast food restaurant..or for any other reason.

Better set your sites a little lower. Practice saying, "Do you want fries with that?" Get a job when you get out of college, save your money, pay off your debt. Then, when you are about 40, you might be in a position to start a restaurant.

Good luck.

Answer 3

You are not good candidate, too much credit owed. You'll need 500K-1Mil to get a franchise like Wendy's or other similar fast food franchise.

Answer 4

Marry a rich widow.

Answer 5

marry the daughter of bill gates