Have you ever bought a franchise?
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Anonymous
| I'm thinking of buying a franchise in the area. Any tips? It's a lot of money to put down. |
Anonymous
| What kind? |
Anonymous
| I bought a cleaning service franchise in the mid 2000s. I gradually bought 3 more. I sold them as a unit in 2014 to another franchise owner who was building up his portfolio. I made good money (each franchise brought me home anywhere from 70-220k a year, depending on year and location) but the employee turnover was a headache and I also didn't like playing the rules of and paying for the franchise. It was nice in that I still worked my 9 to 5 job the entire time. When I had my 2 location I hired a franchise manager and even with that cut it was still very profitable. |
Anonymous
|
A friend bought a Subway franchise, $20,000.
A neighbor bought a McDonalds, he was a manager for years. I think he bought in for $10,000 but that was 25 or more years ago. We were offered a pizza place buy in but family owned. Passed. He wanted $15,000 but we didn't trust his money skills. |
Anonymous
This is interesting. Did you charge more for cleaning depending on the area? Did you think that description of working for a cleaning service in nickeled and dimed was accurate? |
Anonymous
|
Depending of the franchising yes. I bought my business thru Michael K.he has a few business to sell in Maryland and DC. He may help you with your questions. easy guy to deal with.
michael@barschrealty.com (708)2171666 |