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Originally Posted by elphenor
yes I am, that's how come I get a free bus pass
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No you just take some classes every now and then to maintain a fiction. You're a schlub.
Quote:
Originally Posted by jwb
You know how risky it is to start a business on your own? The vast majority fail. A franchise is a trade off that doesn't give you that kind of equity but like you noted the financial barrier is much lower, you inherit an existing brand and infrastructure from the franchise so it's a much safer bet albeit with lower returns.
I dunno what you mean by name the company. It is chick fila. I don't know what you mean by different deals but afaik what you earn as an operator is tied to the profits you bring in.
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Ah it is Chik Fil A. And it is a very different deal than most other franchises. I generally saw that you'd pay the parent company something like 5% of your revenue as opposed to 50% with Chik Fil A, which is
quite a leap, along with 15% royalties and while I don't know what that means it doesn't sound like peanuts. Also in a traditional franchise you own the business and can sell it for fat stacks or pass it on to your kids, but Chik Fil A owns everything, so you can't sell it and your kids can't inherit it, so you're essentially buying a reasonably cushy job (Chik Fil A franchisees make on average 200k).
Not a bad deal if you're poor and have no other prospects but it's a vastly different level of opportunity than buying a McDonald's franchise since you can buy more than one McDonald's franchise and can sell them or pass them on to your kids.