Interested in being a business owner

Discussion in 'Growing and Managing a Business' started by Djzeuss73, Jun 1, 2013.

  1. Djzeuss73

    Djzeuss73
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    Need advise..!!! I was looking into starting a franchise restaurant that I feel would do excellent in my area! I have received initial application by franchiser and was given a brief overview of process. It cost somewhere in the area of 2 million to get land and build the franchise and I would be required to put down 15-20% which is too much for me. I have invested 13 years to my job and my wife and I have about 100,000 in liquid assets that we could prob cash in! How could I obtain the rest of my responsibility to start the ball Rollin?? I have strong organizational and accounting skills but did not complete college. I live the typical blue collar dream with mortgage and kids and just wanted to be my own boss! Would this venture be impossible for a family man like me or are there ways I can get the help I need to do this?? I have eaten at one of the locations of the franchise I hope to start and absolutely love it which is why I want my own but I fear that opportunities like these are only or the super rich! I am Hispanic and have always wanted to be an entrepreneur! Any advise would be helpful!
     
  2. Lani

    Lani
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    why would you buy the land and build the franchise? betting 2 mill on an idea you dont have previous experience could come back to harm you especially if you deplete savings and have kids and mortgage. think small...ground balls not home runs. if there was a magic wand to get rich with a franchise everybody would be rich...

    where do you live? any metro area? any school or industrial parks? if you love food and want to be your own boss...try a food truck. much less start up cost than 2 mil...mobile food truck! i live in philly. there is a duo of women who love cupcakes. they just focused on cup cakes. they back them at home...post to their folllowers where they will be and what time they will be arriving....when they arrive on scene they have a line waiting for their goods....
     

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