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February 18, 2007 at 10:31 PM #8424February 18, 2007 at 11:00 PM #45745
sdrealtor
ParticipantTry Entreprenuer magazine. they have a good online site also. I have a good deal of knowledge about franchising and you are essentially buying a job not a business. Most franchises are designed so the avg owner makes $40 to 50K if moderately successful as an owner operator. Thats no better than the avg job on the street. The real money in franchising comes with multi-unit ownership and area franchise development.
I’ve got to say I wouldnt touch one knowing what I do. CB, you live in an area ripe with young families that earn lots of money, wealthy retirees and high earning singles. My wife and I stayed up nights trying to figure out ways to capitalize on it and came up with many ideas. I would start my own business focusing on the target markets that are out for the taking. Start small, keep overhead low and build. It’s really not that difficult.
February 18, 2007 at 11:12 PM #457464plexowner
ParticipantWhat I’ve seen of most franchises and small businesses is that the owner has essentially bought themselves a job
Instead of working 40 hours a week for someone else, they invest their money to establish or buy a business and then work 80+ hours a week for themselves
They are unable to vacation because the business isn’t profitable unless they are there every day or there isn’t enough income to pay for any help
It seems to me that in most cases, people think they own a business but the reality is that the business owns them
And if the time aspect of owning a business isn’t enough of a deterrent, there are the odds of success to consider – a quick Google search tells me that only 66% of small businesses are still open after two years and only 44% after 4 years
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One of my friends owns and operates a large physical therapy clinic – he jokes about being able to set his own schedule – he says he can pick any 100 hours per week he wants
February 18, 2007 at 11:47 PM #45751Participant4plex,
Most but not all. One of the small businesses I recently started generated a HUGE net profit in its first week. I may not own it any more in 4 years as I could well be retired at its current pace. The world is full of opportunity for those that are willing to take the risk to follow their dreams. BTW, I’m heading out of town on vacation in couple days.February 19, 2007 at 9:13 AM #45760Anonymous
GuestI agree with the assesment that you are essentially buying a job. Saw a UPS Store franchise for sale in San Marcos, near Wal Mart, two years ago. I went in and talked to the owner to get the scoop. He used to be in tech sales, made good money, but wanted to own his own business. He was selling it because he wasn’t making more than 50-60k a year, working insane hours, and he said that you need to own multiple ones to make money. And how much better of a location can you get than the Wal Mart shopping center in San Marcos?
SDRealtor: I have also been trying to brainstorm businesses that cater to the wealthy around here. What ideas did you come up with? Were I to go to law school, I thought that my wife could get a side businesses going that caters to this niche in some way.
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