| Author | Message | ||
| Jim Schad (Jim_schad)
Intermediate Member Username: Jim_schad Post Number: 1845 Registered: 7-2002 |
Yeah I knew a guy who was franchising a small restaurant and the attorneys wanted $10K just to rewrite his UFOC. I don't know what steps he has or hasn't taken at this point. Thanks for the info! | ||
| Jeff (Jeff_m)
Junior Member Username: Jeff_m Post Number: 224 Registered: 9-2002 |
First of all, you cannot just franchise your business. It is a lengthy legal process with tons of filings,minimum financial requirements,audited financials etc. When we did it we used one of the top companies in the US and spent over 100k to have everything done and it took over a year just to get the registrations back. The best thing to do, like you mentioned is build the business to a profitable chain with a great business model and then weigh your options. | ||
| Jim Schad (Jim_schad)
Intermediate Member Username: Jim_schad Post Number: 1843 Registered: 7-2002 |
Thanks Jeff! Exactly my sentiments. I know no details other than he asked me if I was interested. I would not be too keen on paying ANY franchise fee, advertising fee or royalties at this point as it is just one store. Don't most franchises start with multiple company stores to establish themselves then offer the opportunity to others? Also, he is in another city so I woudl have to open them there or if I took them someplace else there is zero brand recognition. Dallas is loaded with smoothy shops anyway. Smoothie King, Jamba Juice, Smoothie Factory and a few others I can't think of. | ||
| Jeff (Jeff_m)
Junior Member Username: Jeff_m Post Number: 223 Registered: 9-2002 |
I guess that would be me, what did he buy and how is he planning on franchising from one store? Typically the benifits to buying a franchise are name recognition,highly reduced product cost due to national accounts and buying power,support from the franchisor,operations manual with all forms needed to run the business as well as recipies etc.What opportunity is he actually offering you? | ||
| Bruce Wellington (Bws88tr)
Advanced Member Username: Bws88tr Post Number: 2835 Registered: 4-2002 |
SORRY WILL, THOUGHT IT WAS YOU, O , YEA YOUR THE ONE WITH THE STRIP CLUBS  BRUCE | ||
| William H (Countachxx)
Advanced Member Username: Countachxx Post Number: 3036 Registered: 2-2001 |
Nope wasnt me, I'm not the Smoothie dude | ||
| Bruce Wellington (Bws88tr)
Advanced Member Username: Bws88tr Post Number: 2833 Registered: 4-2002 |
JIM I THINK THAT WAS WILLIAM H BRUCE | ||
| Jim Schad (Jim_schad)
Intermediate Member Username: Jim_schad Post Number: 1836 Registered: 7-2002 |
Someone on here said they owned some smoothie shops and I can't remember who it was. I have a friend who just bought a single smoothie shop and is franshising it. Just wonder what franchise you are with and would it be better to go with a name brand or is this a ground floor opportunity? Thanks. |