Popular franchise businesses

[threepeat]

Hi all, I was just wondering if anyone out there has any experience (or knows anyone with experience) running one of the top-end franchise business, like Tim Horton's, Starbucks, Second Cup, etc.? Specifically, I'm wondering how much an owner can expect to make running one of these places, and what the overall experience is like (good? bad? would you do it again?)

Thanks for any help that's out there

 

[James]

Are you going to own it?

Or are you going to own AND run it?

Big difference.

 

[mustangjoe]

All I know is Starsmucks are all corporate. i.e. no franchises.

 

[richrad]

i wonder if liquor stores are franchised

 

[aznboi9]

You can try asking Kristy if she'll franchise BBC. I hear that there's a market for high quality SP service at a reasonable price.

 

[panzer-jager911]

at the risk of sounding like a snob, I haven't

HFS

Hey looky here!

You go to the dollar store to buy all the crap you need, so you can use all the stuff you've saved for other things...like Poonany

 

[mick_eight]

Hey looky here!

You go to the dollar store to buy all the crap you need, so you can use all the stuff you've saved for other things...like Poonany

And don't forget the jets to go to the races...I bet your decor is a tad tacky?

 

[Eden]

Threepeat

What you need to make sure when looking into owning a franchise is what limitations you have ie marketing, layout and design, new product management and disbursement, and employee compensation/incentive packages. In a franchise each one is different (2nd Cup, Kentucky fried chicken, etc), where they have taken a template of an existing business found that it works and multiplied it using the exact system of the original. Alot, of the time new business owners get excited over this concept, it is not for everyone, and can sometimes be quite limited in expansion possibilities. Take a look at the area you want, talk to anyone with and existing business there (most times if the franchise is not yet built-they select the area that they feel will work) and lastly talk to another franchise owner face to face they will let you know what's up and if you do decide to buy into one they will become your biggest advocate and learning tools. Let me know if you need more info.

Licks to all...............................................................................!

 

[noneasgood]

What Eden was referring to is territorial rights. For example the very first guy who bought a McDonalds in Canada I believe owned the territorial rights to a large part of the country.

If you're actually serious about a franchise I'd do a couple of things. Firstly, there's a magazine that specificially is devoted to proving information on Franchises, if I were you I'd read this magazine for as long as it takes to understand the differences between various franchise agreements and the franchise business in general. They also have franchise shows, similar to an auto show. They just recently had one at BC place. If I were you, I'd make a list of what franchises I like, review the pro's and con's of those on the list including feedback from actual franchisee owners and keep this up until you're down to a few. You might want to ensure they have areas available before going too far down this path, although the exercise itself should be helpful. And if you really want to get into the nitty gritty, you can buy a book from CCH on the accounting treatment of franchises, but I suspect this would be more than you really need to know. Finally, google. There's tons of stuff on the internet.

 

[drill sargeant]

hey

Tim hortons are all corporate too...........Didnt use to be

 

[capt_canada13]

Tim Hortons is not corporate as the one's in the Lower mainland are franchises'

Only some to the Starbucks are franchises and those are in the US. They will not franchise in Canada. Believe me I tried many years ago to get the rights for up here.

BUT we still have Canadian Tire!!!!!!!!!

 

[steve smith]

Iknow for a fact that timmy's are 95 % franchised. They are a great company with some stores doing 3 - 4 million per year