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Anyone into franchise?

Redcafe10

By Redcafe10,
in Lite & EZ

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Redcafe10

Redcafe10

Clutched

Hi,

 

I am looking into franchise but dont know much. Anyone have the experience and brand to recommend?

 

Thanks in advance.

 

Rgds

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Galantspeedz

Galantspeedz

Turbocharged
(edited)

Checked out before. Subway seems quite good. If I rem correctly, 200k n they provide everything including all the appliances needed n I think reno

 

But that was couple of years ago...

Edited by Galantspeedz
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Galantspeedz

Galantspeedz

Turbocharged

How much are you prepared to invest and how long can you stand not earning money?

 

dun agree leh...

 

you pay for franchise is due to the branding so one should expect to make money as early as the 2nd month already

 

maybe 1st month lose out cuz need to create awareness there is a new branch.... but after that should be earning liao

 

if not, pay money for franchise for what

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Jp66

Jp66

5th Gear

Checked out before. Subway seems quite good. If I rem correctly, 200k n they provide everything including all the appliances needed n I think reno

 

But that was couple of years ago...

subway don't anyhow give franchise, u need to submit business plan.

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Ichibawa

Ichibawa

5th Gear

dun agree leh...

 

you pay for franchise is due to the branding so one should expect to make money as early as the 2nd month already

 

maybe 1st month lose out cuz need to create awareness there is a new branch.... but after that should be earning liao

 

if not, pay money for franchise for what

 

There is no guarantee that business will start as soon as you paid the franchise fee. No franchise will promise that you will make money out of it.

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Idunspeed

Idunspeed

1st Gear

to get into franchise business, first you must identify if you want to be a operating franchisee or a contract management type of franchise.

 

if you wan to get your hands into the business, these are the franchise you can look into:

 

shoes repair, bubble tea, cakes & pastry, chicken rice, been hoon stall, convienence stores or grocery, employment, tuition centre, yoghurt, manicure etc.

 

pro: you do everything, you make the monie and only pay royalty plus stocks and operation related expenses. small biz type operation.

 

cons: you will get involved in all nitty gritty stuff (esp. in retail type pf franchise). if the brand is not strong, you will double up to do marketing, customer service, stock taking etc. for dat type of monie, some might not think it is good enough.

 

 

or if you just want to invest and let the professional take over the operation (known as contract management), you can look into:

 

most fast food chains, some beauty chain, fashion house, shoes etc.

 

pro: everything is sort out for you. good for ppl who want to have a "visible" type of sideline. normally stronger brands with ready followers. professional managed A&P, PR, logistic, distribution etc.

 

con: on top of the royalty, you have pay a percent of management fee. you got little control of the business direction or even sometimes operation cos it was taken off your mind for the fee you paid.

 

So before you decide how much you wanna spend or even wat you think is good. it is best to understand if you want to be physically in it or not first. then you slowly streamline your industry.

 

 

 

 

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Idunspeed

Idunspeed

1st Gear

true.. but not only restricted to franchise or any other biz model. in fact no biz can guarantee success. nothing is guaranteed.

 

imho, the reason why most new biz failed in 1st yr cos they are overly confident and bullish in its success.

 

when reality struck (which normally will), most just got dishearten and give up or are not prepared financially to last thru.

 

 

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Galantspeedz

Galantspeedz

Turbocharged

There is no guarantee that business will start as soon as you paid the franchise fee. No franchise will promise that you will make money out of it.

 

Of cuz no franchise will promise u that.. But what is the reason for franchise if not for immediate recognition?

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Donut

Donut

Supercharged

dun agree leh...

 

you pay for franchise is due to the branding so one should expect to make money as early as the 2nd month already

 

maybe 1st month lose out cuz need to create awareness there is a new branch.... but after that should be earning liao

 

if not, pay money for franchise for what

 

So what got branding?

 

U still need to pay rental, wages, fixed expenses.. Your sale may not be able to cover all these

 

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Galantspeedz

Galantspeedz

Turbocharged

So what got branding?

 

U still need to pay rental, wages, fixed expenses.. Your sale may not be able to cover all these

 

If sales is not enough to cover, then is it the brand, the location, the service, etc that is the problem?

 

If branding not important, why so stupid pay franchise fees... Y even have a brand in the first place... Lol

 

 

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Rustyz

Rustyz

5th Gear

dun agree leh...

 

you pay for franchise is due to the branding so one should expect to make money as early as the 2nd month already

 

maybe 1st month lose out cuz need to create awareness there is a new branch.... but after that should be earning liao

 

if not, pay money for franchise for what

 

Franchise is higher chance of success escpecially to newbie but no Bao one, still must see heng suay

 

The price to pay is high to ride on their experience. There are many strict rule to follow and like mac even the hand soap also must be the same.

 

I still think SG do F&B is good but don't go for those fashion food like those roti boy, bubble tea and the japanese crepe shop(IMM) very short life.

 

I think old chang kee and local coffee joint like new town, Ah kun are good choices.

 

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Fattychubby

Fattychubby

1st Gear

y not become a reseller for IT products....quite profitable

 

you sure IT reselling is good business ? i got lobang for ipads at corporate prices but the thought of selling on credit and not collecting the payment scares me :)

 

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Galantspeedz

Galantspeedz

Turbocharged

Franchise is higher chance of success escpecially to newbie but no Bao one, still must see heng suay

 

The price to pay is high to ride on their experience. There are many strict rule to follow and like mac even the hand soap also must be the same.

 

I still think SG do F&B is good but don't go for those fashion food like those roti boy, bubble tea and the japanese crepe shop(IMM) very short life.

 

I think old chang kee and local coffee joint like new town, Ah kun are good choices.

 

of cuz no bao...... the only thing that bao sure have is death and taxes [:)]

 

but if i expect a franchise to give me the same as a new set up brandless outlet.... then i might as well do without the franchise no?

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Jman888

Jman888

Moderator

If I got about 70k to invest what franchises would you guys recommend?

 

 

keep that as the working capital for 3 months..... then loan another $200K for the fee and start up investment [laugh] [laugh]

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