Thinking of Investing in a Franchise

IrishnOz

Hi All

Im as you have already read, strongly thinking of starting a business when
I return home from Austrailia
In particular a franchise and I would greatly appreicate any help, advice
or story's from like minded people.
The do's and the dont's, the good storys and the bad ones.
Which company's to invest in and which not etc...

All info. and input welcome and greatly appreicated.

Looking forward to your posts !

Thanks.

IrishnOz

kilburn

Don't touch fastway couriers with a 100ft pole.

McDs would be great as would a Dominos pizza

IrishnOz

kilburn wrote: »

Don't touch fastway couriers with a 100ft pole.

McDs would be great as would a Dominos pizza

Thanks but both a little out of my price range,
can you elaborate a little on fastway please?

markymark21

How much start up capital you have? Franchise prices vary hugely in price!

Anyway as most people will tell you the location is especially key with franchises! You aren't starting up anything new or original so your location is really important..

If it was me I'd go for a cafe/coffee shop franchise! These are cash rich businesses, not to complicated to set up/run and the profit margins on coffee are massive!

uberalles

Franchise aka Buy yourself a job

Start your own business IMO

mikemac1

If you are going with coffee then do smoothies as well

Wouldn't cost you much for products and they will be popular

Gloomtastic!

uberalles wrote: »

Franchise aka Buy yourself a job

Start your own business IMO

Absolutely nothing wrong with buying yourself a job, as long as you make a return on your investment. That has been proven to be easier with a franchise behind you than going it alone.

OP, finding the right franchise is really dependent on the amount of liquid capitol you have available and the amount of time you want to dedicate to your business. If you have six figures, then a coffee or food franchise, in the right location, is still a way to make money - if you get the rent right. However, if you are paying too much rent or have to borrow too much to buy in, then the repayments may kill you.

If you have five figures or less then you should be looking for a new franchise opportunity that has worked in other countries and are looking at launching abroad.

There is also a small secondary market for franchises ie buy one of someone who stretched themselves initially, now can't make it work and want out. Finding them and getting honest answers to questions may prove difficult.

The first couple of years of any business is vital. Having the back up of experienced management behind you can make all the difference between success and failure.

bizzyb

markymark21 wrote: »

How much start up capital you have? Franchise prices vary hugely in price!

Anyway as most people will tell you the location is especially key with franchises! You aren't starting up anything new or original so your location is really important..

If it was me I'd go for a cafe/coffee shop franchise! These are cash rich businesses, not to complicated to set up/run and the profit margins on coffee are massive!

When you say location is important, is there any type of franchise that would work in rural Ireland?

What are your skills/ what areas do you have experience in?

There are man with a van type franchises that might work in a rural area.