Buying Franchises
June 16th, 2017 at 10:15:30 PM
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Hey guys and gals,
On a thread several months ago (or years) one of the forum members gave someone a link to a website where you could buy businesses and franchises. I believe it was on a blackjack thread where someone was giving a new counter advice to just buy a business instead of take up counting. Does anyone remember the thread, or know what website I am talking about where businesses are bought and sold? A simple google search reveals a lot of different websites but I cannot seem to find the one shared in that other thread.
If no one remembers the thread, does anyone have a recommendation for a website where businesses can be bought and sold? Thanks!
Ozzy
On a thread several months ago (or years) one of the forum members gave someone a link to a website where you could buy businesses and franchises. I believe it was on a blackjack thread where someone was giving a new counter advice to just buy a business instead of take up counting. Does anyone remember the thread, or know what website I am talking about where businesses are bought and sold? A simple google search reveals a lot of different websites but I cannot seem to find the one shared in that other thread.
If no one remembers the thread, does anyone have a recommendation for a website where businesses can be bought and sold? Thanks!
Ozzy
casino's money disappears
the execs worry when the wizard is near
He turns tears into joy
Everyone's happy when the wizard walks by
June 17th, 2017 at 1:33:52 AM
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this article from business news daily recommends several different sites. i really liked your signature about the wizard. you make him seem like Santa Claus. .........................................................................................hahahahahahahahahha
http://www.businessnewsdaily.com/7623-businesses-for-sale.html
http://www.businessnewsdaily.com/7623-businesses-for-sale.html
the foolish sayings of a rich man often pass for words of wisdom by the fools around him
June 18th, 2017 at 9:34:30 PM
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Thanks Rooster I'll check those out. I agree it is a great signature. It is the lyrics to "The Wizard" by Black Sabbath, Slightly modified of course :)
Homage to both the Prince of Darkness and the Prince of Gaming!
https://www.youtube.com/watch?v=GKY--qaHWSw
Homage to both the Prince of Darkness and the Prince of Gaming!
https://www.youtube.com/watch?v=GKY--qaHWSw
casino's money disappears
the execs worry when the wizard is near
He turns tears into joy
Everyone's happy when the wizard walks by
June 19th, 2017 at 4:40:11 AM
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Please make sure you do your research on any franchise. Other than the top tier franchises like McDonalds and such, which require millions in cash and net worth before considering you, many are scams and not proven. Even Subway has plenty of stories of caution. There are benefits to going with a franchise but it is by no means a guarantee of profits. Do some research on "Dickeys BBQ" as an example.
June 19th, 2017 at 7:52:06 AM
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Chick-Fil-A has a really sweet franchise deal. It's supposedly one of the best in the fast food business.
June 19th, 2017 at 10:07:34 AM
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Quote: BozPlease make sure you do your research on any franchise. Other than the top tier franchises like McDonalds and such, which require millions in cash and net worth before considering you, many are scams and not proven. Even Subway has plenty of stories of caution. There are benefits to going with a franchise but it is by no means a guarantee of profits. Do some research on "Dickeys BBQ" as an example.
Fun fact, Subway is the cheapest franchise to start up. I think they say you you can open them for as little as $50k. Terrible sandwiches though.
Another fact... Chik-Fil-A doesn't sell franchises. If one wants to open a Chik-Fil-A, they are interviewed for a decent paying "Operator" position in the company, and the corporation builds/owns the location.
June 19th, 2017 at 10:31:01 AM
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Quote: gamerfreakFun fact, Subway is the cheapest franchise to start up. I think they say you you can open them for as little as $50k. Terrible sandwiches though.
Fine, more BMT's for me. 😁
DUHHIIIIIIIII HEARD THAT!
June 19th, 2017 at 11:06:53 AM
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I looked into getting the Waffle House franchise territory for Las Vegas about 20 years ago. At that time someone already had the territory locked up. To date we still don't have any Waffle Houses in the Las Vegas area. The nearest Waffle house is in the Phoenix area which is 242 miles from my house.
At my age, a "Life In Prison" sentence is not much of a deterrent.
June 19th, 2017 at 11:20:32 AM
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Quote: DRichI looked into getting the Waffle House franchise territory for Las Vegas about 20 years ago. At that time someone already had the territory locked up. To date we still don't have any Waffle Houses in the Las Vegas area. The nearest Waffle house is in the Phoenix area which is 242 miles from my house.
Waffle House must have some weird territorial disputes going on. There used to be one right across the street from my house but it got torn down. Now there isn't one around for miles; they're all out in the suburbs. The demand is definitely there, but for some reason they're just in strange places.
June 19th, 2017 at 1:24:20 PM
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I've been looking into buying a business in Vegas for over a. year. Had three that made the cut to serious examinations.
A dog grooming place,, a bar and a new idea that may or may not become a big thing.
The first two didn't withstand a close look, and the third was too speculative.
Do you due diligence, then do it again, then have an experienced outside set of eyes look at it.
A dog grooming place,, a bar and a new idea that may or may not become a big thing.
The first two didn't withstand a close look, and the third was too speculative.
Do you due diligence, then do it again, then have an experienced outside set of eyes look at it.
The older I get, the better I recall things that never happened
June 19th, 2017 at 4:20:46 PM
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Quote: billryanI've been looking into buying a business in Vegas for over a. year. Had three that made the cut to serious examinations.
A dog grooming place,, a bar and a new idea that may or may not become a big thing.
The first two didn't withstand a close look, and the third was too speculative.
Do you due diligence, then do it again, then have an experienced outside set of eyes look at it.
Naked City Tavern is now available if you want to reconsider a bar. If I remember correctly that is close to your house.
At my age, a "Life In Prison" sentence is not much of a deterrent.
June 19th, 2017 at 4:51:40 PM
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We can get some AP's to help him run some gaming promos.Quote: DRichNaked City Tavern is now available if you want to reconsider a bar. If I remember correctly that is close to your house.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
June 19th, 2017 at 5:00:01 PM
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Franchises for the most part suck and you are capped as to what you can relaizsically make withotbopenj g multiple. Chick fil a is great however they cap you at one unless you are magic Johnson.
I had a small piece of two Dunkin' Donuts for a about a year and was the best day of my life when I got out of them
I had a small piece of two Dunkin' Donuts for a about a year and was the best day of my life when I got out of them
No longer hiring, don’t ask because I won’t hire you either
June 19th, 2017 at 5:04:08 PM
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Unless you can afford one of the top end franchises, you are just buying yourself a job. Many times a low hourly wage one too.
June 19th, 2017 at 5:17:47 PM
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It is, and I have it on my radar. Thought I had a shot at the one I really wanted, but landlord wanted me to repave the entire parking lot at my expense along with some other demands. NCT is a bigger operation than I was picturing. Thought I'd start small and grow.
The older I get, the better I recall things that never happened
June 19th, 2017 at 5:32:55 PM
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Quote: DRichNaked City Tavern is now available if you want to reconsider a bar. If I remember correctly that is close to your house.
Is this the Pecos location? Assuming it is not the original pizza place, correct?
June 19th, 2017 at 6:43:34 PM
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It is on Pecos. I've only lived here a year and don't know if it is original location or not. Doesn't look like any NY pizza parlor I've ever seen.
The older I get, the better I recall things that never happened
June 19th, 2017 at 7:07:38 PM
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Cold stone creamery was a really bad one, I think I remember seeing it on CNBC. Morally I dont think Id be ok with getting a McDonald's even if there was money. Punching people in the face and stomach for $1, ethically and morally above running a McDonald's.
I am a robot.
June 19th, 2017 at 7:09:24 PM
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So many of these want 10-15% off your annual top line sales. Makes one feel hopeless.
Wanda Wilcox: “I can’t stand people. I hate them.”
Chinaski: “Oh, yeah?”
Wanda: “You hate them?”
Chinaski: “No, but I seem to feel better when they’re not around.”
Barfly, starring Mickey Rourke
June 19th, 2017 at 7:09:55 PM
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Quote: onenickelmiracleCold stone creamery was a really bad one...
There's one in Greektown here and they accept comps!
DUHHIIIIIIIII HEARD THAT!
June 19th, 2017 at 7:34:51 PM
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Quote: onenickelmiracleCold stone creamery was a really bad one, I think I remember seeing it on CNBC.
I know a very successful Motorcycle dealer who lost his ass on a CSC. Thought it was easy money but the only benefit ended up being the losses to write off on his taxes. Couldn't sell it for 25% of his investment.
June 19th, 2017 at 7:53:24 PM
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Food trucks might be an idea, alternative. Just partner with someone that can do it, just young or without the money to start.
I am a robot.
June 19th, 2017 at 7:58:18 PM
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Quote: billryanIt is, and I have it on my radar. Thought I had a shot at the one I really wanted, but landlord wanted me to repave the entire parking lot at my expense along with some other demands. NCT is a bigger operation than I was picturing. Thought I'd start small and grow.
If your background is clean and you could acquire a Gaming License i might be able to offer some suggestions for helping you get into a bar with gaming. FYI, it is a tough business unless you are able to spend some money and do something special. I am very familiar with all of the bars in your area and know lots of the owners.
At my age, a "Life In Prison" sentence is not much of a deterrent.
June 19th, 2017 at 8:25:46 PM
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Nothing in my 201 to prevent either a gaming or liquor license.
I'd love to pick your brains on the subject. I don't quite grasp the whole slot route thing.
I'd love to pick your brains on the subject. I don't quite grasp the whole slot route thing.
The older I get, the better I recall things that never happened
June 19th, 2017 at 8:43:01 PM
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Quote: billryanNothing in my 201 to prevent either a gaming or liquor license.
I'd love to pick your brains on the subject. I don't quite grasp the whole slot route thing.
I'll gladly meet you some night for a drink. The slot route is the portion i know well and have been in the business the last 10 years.
At my age, a "Life In Prison" sentence is not much of a deterrent.
June 20th, 2017 at 4:42:01 AM
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Most franchise agreements are for a limited period. You are purchasing nothing more than a right to operate the franchise for 15 or 20 years. After that, you own nothing and your initial investment is lost. If the franchise is a profitable one, the parent company can opt to keep it for themselves, sell it to someone else, or allow you to renew for another 15 or 20 years at a much higher price.
I once owned a profitable franchise. With ten years left on the agreement, I knew better than to gamble with my equity, so I sold the franchise. I warned my buyer in writing of the possibilities when the agreement expired. He gambled.
Sure enough, the parent company opted not to renew when the agreement expired.
I did not own a McDonald's franchise. Their 20 year Agreement is an example.
McDonald’s Agreement:
Term of Agreement and Renewal: The length of the initial traditional franchise term is generally 20 years. The Satellite term varies, and the length of the franchise term for STO and STR locations are generally 10 years. BFL term length is generally 3 years. Franchisees are given no right to renew or extend the franchise after the term of the contract. A Rewrite (New Term) Policy is not part of the previous Franchise Agreement.
I once owned a profitable franchise. With ten years left on the agreement, I knew better than to gamble with my equity, so I sold the franchise. I warned my buyer in writing of the possibilities when the agreement expired. He gambled.
Sure enough, the parent company opted not to renew when the agreement expired.
I did not own a McDonald's franchise. Their 20 year Agreement is an example.
McDonald’s Agreement:
Term of Agreement and Renewal: The length of the initial traditional franchise term is generally 20 years. The Satellite term varies, and the length of the franchise term for STO and STR locations are generally 10 years. BFL term length is generally 3 years. Franchisees are given no right to renew or extend the franchise after the term of the contract. A Rewrite (New Term) Policy is not part of the previous Franchise Agreement.
