Franchising as a concept

[Coral Reefer]

Hey all.

A partner and I are currently looking into a franchise opportunity.

I've had businesses before with partners but a franchise set up is a new realm for me.

We've been doing some due dilligence but am interested if any of you on here have had any experience at all with a business or a client/friend of yours that may have owned a franchise.

I'd like to know if there may be some red flags, specific questions or issues I may be overlooking that only a former franchise owner might be aware of.

I won't name the franchise now because I'd really appreciate some input on what to look for from franchise companies as a concept rather than what the product is.

If anyone has insight it would be greatly appreciated as I'll probably be betting my whole nut on opening a territory if we decide to go ahead with this.

Thanks all for any input in advance.

[HysterikiLL]

I can't give you any direct advice but my old economics lecturer's best friend (who used to come and talk to us some times) owned two Subway franchises. He said that it was a ***** when he first started up, and that a lot of people fail because they rely too much on the franchise brand itself to float. You still have to segment yourself and find a niche in the market....He's a millionaire now and he's building a golf course...rich *******s


Conversely, my Uncle was telling me about a guy he knows who came out of the police with some fat settlement check....he bought 2 pizza huts and they both went bust...now he's bankrupt, 45, and still trying to save for his first house......ironically, he could've bought like 5 properties at the time he bought the pizza hut's and with the way property prices shot up here, he'd be a millionaire.

Don't know if that helps. :lol:

[fishfanfromjerz]

i wish someone would open up a fazoli's up here in nj...i miss that place...used to get the all you can eat spaghetti n meat sauce ...and breadsticks...for like 2 dollars while i was in college.....miss that place