Fast Food Franchise

Discussion in 'Growing and Managing a Business' started by smoore3328, Jul 20, 2010.

  1. smoore3328

    smoore3328
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    I was hoping to get some advice from anyone who has run/owned multiple fast food franchises. I have the opportunity to buy 5 fast food franchise stores. They are very profitable, but I have no management experience.

    I have been in sales for the last 5 years, but have been looking to get out. I would like any information that anyone can share.

    Thanks in advance.
     
    #1 smoore3328, Jul 20, 2010
    Last edited: Jul 20, 2010
  2. Fergal

    Fergal
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    smoore3328 there were some good suggestions in your previous thread on Monkey Joe's, I'm not sure if you have had a chance to read through them.

    Buying five fast food franchises is obviously a big investment and not one to be taken lightly. If you have an accountant you might consider speaking to them to get some help with preparing financial forecasts and doing some financial planning to ensure that you will have the resources to cover any repayments and costs associated with the business.

    Do you have access to audited accounts and bank statements for the franchise stores? If not, you should get them, because they will provide valuable info as to the current state of the business and how well it is performing.

    You say that you have no management experience, hence you will need strong support from the employees within the business. Have you spoken to the existing managers to get a view as to whether there is a strong team there that can successfully run the business without you needing to be there 24 / 7?
     
  3. GekiDan

    GekiDan
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    Buying five at a time is really a big investment and will certainly a bis loss once it is not done correctly.
    Have you considered buying only one first and see on how you can manage it? And once you are already used to it, then that's the time you buy more?
     
  4. bmk

    bmk
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    Ffood

    I think that its one of the most profitable business in the world
    So to run the business
    you need some of basic following ideas
    AS capacity of food you can best made according to your resources
    Supply chain of food items
    Running cash flows
    Asset management
    Services because in food business all depends upon the services and the facility layout of the resturant
    and many more things
    :D
     
  5. stressballs

    stressballs
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    I too have a suggestion. I will be easy to maintain two Fast food franchise at a time by keeping nice cooks and a right person to manage them and in between you should take care of two franchises every day.
     
  6. daytrader

    daytrader
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    food business is of course is profitable. everyone eats!
    i'd probably invest more on the store location if i have to concider this kind of business.
     
  7. pwsolutions

    pwsolutions
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    not in United States but my co-partners they are running franchises in different countries. they say that the best way to manage your franchise is to follow the guidelines provided by the manufacturer or service provider.
     
  8. igorvolseo

    igorvolseo
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    hi...
    oh.. you are buying five fast food franchies thats a best idea for earn money i think that this is the most profitable business in time .
     
  9. Mountain Man

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    Whatever business you choose it should be something you have an interest in, and don't think that because it is a franchise it can not fail. Any business is only as strong as it's management.
    I once bought a successful franchise only to learn I had no interest in that type of work.
    Also keep in mind that just because that industry in general is successful does not mean that your franchise will be. does your franchise have a solid brand name, good quality food, a target market (Not just everyone who eats), a good management structure?
    Hope this helps.
     
  10. iamjohns

    iamjohns
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    honestly i opened a small franchise deli it isn't as big as your going but the point is i didn't have much experience in the management field , but i did well it succeeded i sold it for more than what i bought it for ... anyways my point is just read a little management guide and you'll be good to go .........
     

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