Find out which business/franchise you want to invest in and go to their website. The majority of franchises have all the info you need there. IIRC - The usual requirement you need is a healthy proof of income. The franchises I looked into cost $1 million to start up...and you need to have a certain percentage in cash on hand and the rest from a bank. The application is huge and they'll mail that and all the franchise info if you request it.
I always thought that Subway was the way to go. Low startup, low overhead, GREAT brand recognition. I think it was around $80k a few years ago when I looked into it.
my dad got HOSED in a joint franchise venture a couple of years ago. granted, this was a franchise out of mexico.
My dad and I own a The UPS Store franchise in Missouri City, which used to be Mail Boxes Etc (MBE). I started looking into franchises my senior year at UH (2002). In 2002 these stores were still MBE's but UPS had bought the franchise corporate offices. We heard lots of goods things about how UPS would be bringing business to our stores, but didn't know about the name change. We put our money down; however, because of some construction delays our store did not open until April 2004. By that time UPS had changed the name of these stores from MBE to The UPS Store, and things had drastically changed...not for the better. We of course are franchisees, we do not work for UPS but with the name UPS Store the general public thinks we're a UPS facility and that we can assist them with anything UPS related. We can't, nor are we compensated by UPS for such services. UPS advertises Internet shipping...well that directly competes against us because when someone drops off a pre-paid package at our store, we get nothing off the shipping. UPS loves to sign up people and businesses with UPS accounts; we again get nothing for packages billed to an account. I could go on and on about what UPS has done to damage this franchise, but in short...UPS is our biggest competitor and they are ruthless. Currently there are a number of lawsuits against UPS by franchisees for what UPS has done to us. We're with a group of about 200 stores in one of the lawsuits. We have a court date this September. As far as other franchises go, there don’t seem to be too many good ones out there. Within a few blocks of my store 3 franchisees of other stores have gone bankrupt in the last year (Golf Etc, Petland & I Sold It on eBay Store). Subway’s are generally good but you have to own several to make good money, but the problem is that there are already 50 million Subways in the US (exaggerating) so good profitable locations are going to be hard to come by.
I recently learned that gold's gyms are franchises, and based on recent experience, I would not recommend buying one. They certainly do not work with the franchises to resolve problems.
Really? I've heard it is one of the worst Franchises to own. Apparently, they allow any and all Franchisees to open a shop without regard to location of other shop demographics. It is one of the reasons McDonalds is one of the most sought after franchises, with a waiting list a mile long.
Yeah, one thing I have noticed about Subways is that there are lots that are in close proximity to other locations. Like 5 blocks close
Seems like alot of you guys are interested in Subway and really it is a good franchise to get into but!!!! Franchise license for the Houston area has been all sold out for the past 6-8 years.. The only areas that are available are rural areas outside Houston (And I mean far out like past katy,woodlands,cyfair).. I know two owners who own 8-10 franchises a piece and let me tell you they BANK!!!
Not True the reason why you see subways opening next to each other is because that is the same owner..
If you want to make a ton of cash, drop a Shipleys in the Henderson/Las Vegas area. I looked into it...but do not have the liquidity available to start one up. Oh yeah...LV needs a Fuddruckers also. And What-A-Burger. And Taco Cabana. And a Fogo De Chao.
Wow. good to know... I love their food (usually eat their 3-4x a week) and they are the cheapest when it comes to franchising fees ($15K i believe) - hmmm maybe that's why there are so many located everywhere?
Their fees are low, but you need to check their liquidity requirements. Sonic used to require that you were liquid for $1 million...on top of what you need to get the restaurant built and open.
Nope. It's actually one of the best franchises to own. They have such a dominant share on the sandwich/sub market. To this day, Jared does wonders for them. Quiznos means nothing to them. And as far as the location, there are requirements. I don't know who you got your info from, but they are wrong. You basically won't be able to build new subways in the Houston area. You have to buy existing franchises, or open up shop in other towns/cities. I don't want to get into too much detail, but the reason I know this is that many people in my family are heavily into Subway, both as Franchisees and at the corporate level as well. From what I've seen, it's worth it.
