What It's About
Today's caller wants to know if we McLovin' their idea to invest in a franchise.
Notes from Chris
Episode 1852
Should you buy a franchise? That’s what our caller is wondering about—they’re looking at investing in a Subway or McDonalds. Is this a $5 foot-long idea? This takes me back. Long, long ago I wanted to be a franchise owner. I did not see that dream come true, and I’m really glad! I didn’t want to have a Subway; in my case I was looking for a MailBoxes Etc. which is now known as the UPS store. Why didn’t I buy? Mostly because I didn’t have the money! Why wouldn’t I buy now? I’ll tell you exactly why along with my advice to our caller in this episode."I was thinking…. Instead of trying to have a brilliant side hustle idea, I would find a way to buy an existing franchise. Everyone knows McDonald's or Subway, right? It feels much safer than taking a risk on an unproven process—but I also assume the startup costs are much higher, because if it was easier then everyone would do it, right? What do you think? Looking forward to hearing your thoughts about this."Listen to today's episode to learn more...
SEE ALSO:
- PR Consultant Launches California Restaurant Week: A PR consultant in Long Beach, California, earns an extra $20,000/year producing an annual “restaurant week” that brings together chefs and new diners.
- Global Supply Chain Adventures: American Ships Brazilian Hair to Liberia: This shipping executive’s foreign friends struggled to get their hands on the American goods he took for granted. His new business now delivers thousands of packages a month to countries like Liberia and Hungary.
- “Netflix of Restaurants” Side Hustle Earns $50,000/Year: A contest idea turns into a restaurant recommending algorithm, earning its creator an extra $50,000/year.
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Resources
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To infinity and beyond,
