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re: Any franchisees here? Know any?
Posted on 1/9/25 at 4:45 pm to Kingpenm3
Posted on 1/9/25 at 4:45 pm to Kingpenm3
I’ve always wondered about the general profile of (big time) franchisees, as in education, previous work experience, etc.
Are they people who made some money in another industry? Family money people diversifying their portfolio?
Are they people who made some money in another industry? Family money people diversifying their portfolio?
1
Posted on 1/9/25 at 4:46 pm to Kingpenm3
I strongly considered a new Papa John's in Greensboro GA but someone beat me to the punch while I was hemming and hawing. Huge affluent local lake community with only a domino's and a couple mom/pop outfits. They are raking in millions a year now, I suspect.
Posted on 1/9/25 at 5:00 pm to el Gaucho
quote:
Jealous that some boomer in the 70s probably got all those Taco Bells for like 300 bucks but now it probably costs 5 million to buy a taco bell
They started with one Taco Bell in Morgan City.
Here is their Bio:
In 1982, Brenda and Gregory J. Hamer, Sr. created B&G Food Enterprises, LLC when they received a franchise from Taco Bell to operate a restaurant in Morgan City, Louisiana. Today, B&G operates restaurants in Louisiana, Mississippi, and Texas. B&G is the largest Taco Bell Franchisee in Louisiana and maintain our Corporate Headquarters in Morgan City, Louisiana.
In 1997, Brenda and Greg received their first KFC franchise. We acquired our first Long John Silver’s in 2011. Today, B&G is a franchise of Taco Bell, KFC, and Long John Silver’s.
Brenda and Greg began their partnership as juniors at Morgan City High School, and they were married in 1967, while Greg was still attending LSU.
Brenda is not only the Corporate Secretary of B&G, but she is also the center point of the family. Nothing delights her more than spending time with her three children and her nine grandchildren.
Greg Sr. is the CEO of B&G and prior to going full time into B&G was active in the oilfield service industry for over 20 years prior to going full time into B&G.
I think a lot of their growth was in the late 1990’s and 2000’s when a lot of people were selling their franchises as they got older and wanted to retire. Instead of retirement, they grew the company.
One plus is that Greg is an LSU grad and Tiger fan. He just doesn’t have Todd Graves money.
This post was edited on 1/9/25 at 5:06 pm
Posted on 1/9/25 at 5:09 pm to Kingpenm3
If looking at food franchises, you need a lot of excess capital and enough stores in the same metro to build brand recognition. Restaurants generally take 2-3 years to hit breakeven. It's a tough row to hoe.
I also know a guy who has an automotive services franchise with multiple (single digits) locations in Texas. It is a great money-maker and will soon be up for sale. The best path in is to buy a multi-unit existing franchisee out, or partner with one, IMO.
I also know a guy who has an automotive services franchise with multiple (single digits) locations in Texas. It is a great money-maker and will soon be up for sale. The best path in is to buy a multi-unit existing franchisee out, or partner with one, IMO.
Posted on 1/9/25 at 5:12 pm to Kingpenm3
I own an agency for the #1 insurer in the nation, what do you want to know?
Posted on 1/9/25 at 5:25 pm to Kingpenm3
quote:
Anyone ever open a Subway and 15 years later they are like "that was the best decision I ever made".
Jared found Subway and got 15 years
Posted on 1/9/25 at 5:55 pm to Tarps99
Owned by the Hamer’s if I recall
Posted on 1/9/25 at 6:02 pm to Kingpenm3
Proud owner of a Buttfricker's franchise here.
Posted on 1/9/25 at 6:20 pm to Barrister
quote:
As far as Subway, if you plan is to open one you are essentially buying yourself a job and Subway will not protect you territory. The only way to make any money with Subway is to get yourself up to around 4 or more stores
This ^. Applies to many other fast food franchises too (but not CFA)
Posted on 1/9/25 at 6:23 pm to Kingpenm3
Indians seem to do well with them.
But that’s because their cousin comes on a visa to help run the different locations instead of some commie millennial trying to unionize the staff.
But that’s because their cousin comes on a visa to help run the different locations instead of some commie millennial trying to unionize the staff.
Posted on 1/9/25 at 6:24 pm to Kingpenm3
My dad owned 3 Subways. Sold 2. He's trying to sell the last one because he's 72 and you're pretty much a slave to it. They've definitely made him some money though.
Posted on 1/9/25 at 6:27 pm to cuyahoga tiger
quote:
7Brew drive thru coffee stands
I'm amazed at their location strategy. One here (Trussville) opened in the same shopping center parking lot as Starbucks. The other (Moody) across the street from Duncan and a block away from Starbucks.
I'd love to know the market strategy. I know early on Burger King kept putting stores in bad locations, so much that they decided to just open across the street from McDonalds.
Posted on 1/9/25 at 6:32 pm to Kingpenm3
One of my clients owns a number of Verizon locations. The cars he drives used to blow me away until I saw his house. It is massive. Really impressive.
I also know a guy that owns a dozen or so Sport Clips. Not super rich but he's definitely doing well.
But they are definitely in the minority obviously.
I also know a guy that owns a dozen or so Sport Clips. Not super rich but he's definitely doing well.
But they are definitely in the minority obviously.
Posted on 1/9/25 at 6:35 pm to DCtiger1
quote:
I own an agency for the #1 insurer in the nation, what do you want to know?
Do you need any promotional products? Lol
Posted on 1/9/25 at 6:48 pm to Kingpenm3
Youngest daughter works for owner of Chic fa Lai and other ventures in an administrative capacity and I don't believe he wants for much
Posted on 1/9/25 at 6:52 pm to GreatLakesTiger24
quote:
I’ve always wondered about the general profile of (big time) franchisees, as in education, previous work experience, etc.
Are they people who made some money in another industry? Family money people diversifying their portfolio?
Can’t speak for big time franchisees but all the ones I know have corporate backgrounds and wanted to be business owners.
Corporate jobs can provide great experience for managing, hiring, financials and the bank roll to make the switch. In the corporate world you often get moved around to different roles or switch companies so the particular product isn’t terribly important.
I’ve made multiples more money owning vs salary.
Posted on 1/9/25 at 6:54 pm to BamaCoaster
quote:
I’m beginning a franchise of Cajun/New Orleans style restaurants in the UK, beginning March 2025. Starting in Liverpool.
That’s damn interesting
Posted on 1/9/25 at 6:54 pm to noonan
You have anything unique? Always looking for cool stuff
Posted on 1/9/25 at 7:01 pm to Kingpenm3
Couple of Snap On tool dealers. They’re average Joes. One made it sound like to do it right, you don’t make a dime. Reinvest all income into more inventory, new truck, ect. You make your money when you sell business.
Posted on 1/9/25 at 7:01 pm to Kingpenm3
Colonel Sanders before he went tits up
Used to visit his family down the street. Made chicken at the house with the spices we had. Figured he was telling the truth that the 11 herbs and spices could be found in any Southern kitchen.
Used to visit his family down the street. Made chicken at the house with the spices we had. Figured he was telling the truth that the 11 herbs and spices could be found in any Southern kitchen.
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