The_buster Posted August 23, 2012 Report Share Posted August 23, 2012 (edited) also theres a subway for sale in ohio..http://www.subway.com/forsale/default.aspx maybe start that way if its possible, i worked at subway for three years and asked out of curiosity what was involved in starting one and was told too much money lol also found this link..http://www.subway.com/subwayroot/Own_a_Franchise/FranchiseFAQs.aspx Edited August 23, 2012 by The_buster another helpful link Quote Link to comment Share on other sites More sharing options...
KennyFKINPowerz Posted August 23, 2012 Report Share Posted August 23, 2012 http://media1.teenormous.com/items/ih1.redbubble.net/image.11685045.7863-fc-550x550-black.jpg So Awesome Quote Link to comment Share on other sites More sharing options...
BigOxley Posted August 23, 2012 Report Share Posted August 23, 2012 also theres a subway for sale in ohio.. this is the way to go. cost of operation is the least expensive compared to other fast food. what you need: refrigerator, sneeze guard, ovens, toaster oven, microwave, soda machine, meat, veggies, cheese, and cookies. Profit Quote Link to comment Share on other sites More sharing options...
kirks5oh Posted August 23, 2012 Report Share Posted August 23, 2012 meh, best way to make a small fortune in the restaurant business is to start with a large fortune. maybe fast food is different, i don't know Quote Link to comment Share on other sites More sharing options...
mrs.cos Posted August 23, 2012 Report Share Posted August 23, 2012 You could alwasy start a food truck.. investment in those is like ~$50k Quote Link to comment Share on other sites More sharing options...
AWW$HEEET Posted August 23, 2012 Report Share Posted August 23, 2012 I checked on jimmy johns like 2 yrs ago, they needed 385k, and 85k had to be liquid, not loaned. Quote Link to comment Share on other sites More sharing options...
mmZ06 Posted August 24, 2012 Report Share Posted August 24, 2012 Hey guys, I can give you a little background on my experience. I primarily operate Subway franchises and have both purchased existing locations and built new stores. You are looking at about $180-220K to open a store. This includes all equipment, franchise fee, leasehold improvements, inventory, etc. If you can find a space that has already been improved that will reduce your cost a little. The bad thing is there really isn’t much opportunity to build new Subway locations in this market. The other option is to buy an existing store. This is how I got started and I would say it’s a more conservative approach. I would suggest focusing on locations (not necessarily Subway) that are underperforming and have potential. Just like the stock market, you don’t want to buy a business at its peak. The Subway brand in general carries a much higher value than other restaurant businesses on the market as well. More established brands that are high in demand (MCD for example) will do this and it makes it very challenging to get your foot in the door. My advice is to not worry about the required liquid assets, net worth, etc. to much. Franchisors set guidelines to eliminate a certain amount of people. They are not interested in dealing with tire kickers all day so they put these figures in place. I can tell you they are not hard fast requirements. You do not need to have $1M in the bank to open a Dunkin. You don’t even need to have $250K. The franchisor is more concerned with seeing that you are financially stable enough to support the business and have a good business plan to move forward with. If you have the required liquidity that’s great, it will make things a little easier. A typically QSR (quick service restaurant) is going to cost between $200-400K to open (not including real estate purchase). New brands are great to focus on but keep in mind that once you open a location you can also capitalize on the back end of the deal. Joe’s Hamburgers is not going to carry the same value as a Subway. Keep that in mind when purchasing an existing business as well. If you ever need to get out it will be much easier doing so with a well known and trusted brand. I would highly recommend anyone looking to get into the restaurant business to get experience, preferably with the brand you are looking to invest in. Find out if the business is right for you and see if it’s something you can live with. I think a lot of people have the dream but sometimes underestimate how time consuming and how much of a pain in the ass it can be. Any questions just lmk. I’m just scratching the surface here and could probably write a book LOL. I’m happy to share what info I can and glad to help though. Matt Quote Link to comment Share on other sites More sharing options...
iwishiwascool Posted August 24, 2012 Report Share Posted August 24, 2012 Hey guys... Matt I have no interest in franchises other than curiosity... How much do you work in your business vs. on your business vs. on the beach? Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted August 24, 2012 Report Share Posted August 24, 2012 You do not need to have $1M in the bank to open a Dunkin. You don’t even need to have $250K. If you approach a Dunkin Franchise consultant with less than $1M bucks I know you will be in for a very rude awakening. I worked for the local design firm on the roll out of 15 central Ohio locations and the investment company that put up the money and back even in 2008 which was the time I was doing so, they were approaching specific markets and not interested in one offs. It was 15 to get the deal done here in central ohio and the build out costs on their latest foot print is $1.5M using their equipment and kitchen design. You don't have a choice they have one of the most stringent VP of Ops and design I've ever worked with. They all have ego's but theirs is founded on proof as it just plain works. If you seriously are interested in Dunkin feel free to PM me and I'll point you towards some contacts in the franchise dept. Any questions overall, feel free to contact Dennis Lombardi at WD Partners with whom I worked. Dennis is very well known and perhaps the leading authority on Chain brands and is a former VP with Technomic. He's car guy too with several Austin Healey's he's restored. Quote Link to comment Share on other sites More sharing options...
351mach11647545510 Posted August 24, 2012 Author Report Share Posted August 24, 2012 thanks guys, this has been really helpful Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted August 24, 2012 Report Share Posted August 24, 2012 (edited) thanks guys, this has been really helpful I've got some really strong connections that are in the industry, especially on the operations and back of house design side. They will be able to give you some really good information on the upcoming brands and who's doing it right and who's not. Dennis would too. He's a straight shooter. I may have to grab a lunch with him and get my login to the Technomic site renewed :masturboy: That's where the real data and finacial info is at. If you want something not around here at all WD Just finished up the very last sale I had there which is an excellent and tasty brand, D'Angelo's. They are from Main believe it or not and invested in our ops and design services to insure they roll out well. http://www.wdpartners.com/casestudies/dangelo.php The ended up using the entire re branding to help sell the company. I'm guilty of working the new Fazoli's look and brand too but don't shoot me. They needed the help. Edited August 24, 2012 by TTQ B4U Quote Link to comment Share on other sites More sharing options...
Mr. Jones Posted August 24, 2012 Report Share Posted August 24, 2012 If you approach a Dunkin Franchise consultant with less than $1M bucks I know you will be in for a very rude awakening. they have one of the most stringent VP of Ops and design I've ever worked with. They all have ego's but theirs is founded on proof as it just plain works. +1000 Quote Link to comment Share on other sites More sharing options...
mmZ06 Posted August 24, 2012 Report Share Posted August 24, 2012 If you approach a Dunkin Franchise consultant with less than $1M bucks I know you will be in for a very rude awakening. Not trying to bust your balls or anything but Dunkin is a one of the brands my company operates. 15 unit deals are not the standard. Things may have been different back in 2008 and I'm familiar with the deal you referenced. Dunkin definitely has build out cost challenges but an inline store can be built for right around 400K. Equipment package is 200K. Quote Link to comment Share on other sites More sharing options...
Brandon Posted August 24, 2012 Report Share Posted August 24, 2012 What about a Canes? they are exploding right now. or do a detailing franchise... hint hint... canes has one franchise, and its only here in Columbus and they are not going to continue to franchise at this point. The owners are great young guys, and Mattzo6 is the best guy on the forum IMO to discuss anything franchise, he is a very smart and successful entrepreneur in that industry. Quote Link to comment Share on other sites More sharing options...
iwishiwascool Posted August 24, 2012 Report Share Posted August 24, 2012 On a side note, doesn't it seem like Indians most always own the Subways? I confirmed this hypothesis by looking at every Subway for sale around me within a 300 mile radius. Quote Link to comment Share on other sites More sharing options...
Putty Posted August 24, 2012 Report Share Posted August 24, 2012 CANES and Penn station Quote Link to comment Share on other sites More sharing options...
Mallard Posted August 24, 2012 Report Share Posted August 24, 2012 I've been looking into opening a Biggby coffee with a coworker. I probably won't go anywhere with it, but it seems like a pretty solid franchise and the price of entry is pretty low. Quote Link to comment Share on other sites More sharing options...
Ramsey Posted August 24, 2012 Report Share Posted August 24, 2012 if you dont buy a chik-fil-a then you hate god. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted August 24, 2012 Report Share Posted August 24, 2012 Not trying to bust your balls or anything but Dunkin is a one of the brands my company operates. 15 unit deals are not the standard. Things may have been different back in 2008 and I'm familiar with the deal you referenced. Dunkin definitely has build out cost challenges but an inline store can be built for right around 400K. Equipment package is 200K. No ball busting either way. Their market here has no doubt changed since 08 and the initial move here has occurred. With that of course comes a drop in requirements since you'll be entering a market that is already seeded with stores. They don't need 15 more. Costs I'm referencing aren't inline but rather free standing. We went after that model as it was more lucrative for us. Good to have the clarification. 1 Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted August 24, 2012 Report Share Posted August 24, 2012 I'm suprise being a car forum no one has suggest a gas station. Give discount to CR members and profit for life. Quote Link to comment Share on other sites More sharing options...
TTQ B4U Posted August 24, 2012 Report Share Posted August 24, 2012 I'm suprise being a car forum no one has suggest a gas station. Give discount to CR members and profit for life. That's an ugly business though. I think the RaceTrack Franchise needs to come north though and set up shop near the new Cooper Stadium location 1 Quote Link to comment Share on other sites More sharing options...
KennyFKINPowerz Posted August 24, 2012 Report Share Posted August 24, 2012 Maybe a bunch of us should partner up and go buy Trails. We could really turn that place a round. 1 Quote Link to comment Share on other sites More sharing options...
mrs.cos Posted August 24, 2012 Report Share Posted August 24, 2012 Storage units do quite well iirc. Quote Link to comment Share on other sites More sharing options...
mmZ06 Posted August 24, 2012 Report Share Posted August 24, 2012 How much do you work in your business vs. on your business vs. on the beach? On my business more than in my business. The number one thing for any successful business is building the right team. We are very fortunate to be surrounded by great people and when I'm in the business I just screw shit up anymore lol. Not a fan of the beach, I like to dabble in other ventures so I spend most of my free time doing that. No ball busting either way. Their market here has no doubt changed since 08 and the initial move here has occurred. With that of course comes a drop in requirements since you'll be entering a market that is already seeded with stores. They don't need 15 more. Costs I'm referencing aren't inline but rather free standing. We went after that model as it was more lucrative for us. Good to have the clarification. Columbus is an interesting market for Dunkin. I think they learned a few lessons back in 2008. Interesting business model in general from my experience. Quote Link to comment Share on other sites More sharing options...
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