They are automatic money makers with low overhead, eg. no spoilage, small staff, low square footage. I am not sure what the downstroke is for a franchise is anymore, it was around 50k last time I did any research. They make real good mom and pop or family money makers. Stay away from any kind of restaurant imo.
wil.
wil.
Jman
I have no idea about this, but you know what seems like a viable business op? Owing part of a franchise. With 50K I dont know how far you can go in for, but I would think that a McD's would cost about 400-500K to open. You can own a minority share and if it does well it doesnt seem like too bad of a gig. A venture like this requires substantial research. Just a thought. GL.
Or...you could just put it all on the Red Sox to win the Oak series at 4-1.
I have no idea about this, but you know what seems like a viable business op? Owing part of a franchise. With 50K I dont know how far you can go in for, but I would think that a McD's would cost about 400-500K to open. You can own a minority share and if it does well it doesnt seem like too bad of a gig. A venture like this requires substantial research. Just a thought. GL.
Or...you could just put it all on the Red Sox to win the Oak series at 4-1.
What does the avg. MailBoxes Etc. profit in a year Wil?
Doc, if I did that (and won) I would just lose it next weekend,lol...
I`m looking for something turnkey (easier said than done), what I have now will probably fizzle out in about 7 years... there is only one way IMO and that is to work for yourself!
Doc, if I did that (and won) I would just lose it next weekend,lol...
I`m looking for something turnkey (easier said than done), what I have now will probably fizzle out in about 7 years... there is only one way IMO and that is to work for yourself!
McDonald's is a million for the license and you have to show that you have another million in the bank. You then have to go to Hamburger U in Denver.
The franchise with the best ROI is GNC although Mail Boxes Etc. was up there. Mail Boxes Etc. franchisees are upset because they have to sell UPS exclusively now that the 2 companies have a new alliance. But as far as new businesses go $50,000 isn’t quite enough for any of these.
The franchise with the best ROI is GNC although Mail Boxes Etc. was up there. Mail Boxes Etc. franchisees are upset because they have to sell UPS exclusively now that the 2 companies have a new alliance. But as far as new businesses go $50,000 isn’t quite enough for any of these.
Monicus is right i'm sure, I am out of touch. The best thing for you to do is check with an outfit like the Small Business bureau, or whatever its called. There are loan programs also available you might be able to supplement your initial investment with a decent but not backbreaking loan. Remember stick to something tried and true. Overhead is key to long time success. Naturally location is important, check out all the different non-food franchises in your geographical area, you might find a vacant region for one of the better investments. In any case be ready to work hard, key to making any new business make money.
wil.
wil.
$50,000 is really a pretty small amount of investment. by the way you asked the question I am looking at this as only being a $50,000 investment. This will limit your options, but there are a few possibilities.
Here are a few ideas.
#1 - Payday advance store.
Set up a store in a low income neighborhood ( Teens to mid - 20's ). Start a check cashing business where you charge people a fee for a payday advance. I am sure you have heard of these because they are popping up all over. However, you can still find some areas without these where you could get a good footing. The initial investment ( renting a store, advertising, license fees,security, money on hand to start ) would be pretty low. With all the drug addicts in the U.S., there is great profit potential in this industry.
#2. Pawn Shop
Kind of the same idea. They want money now, you charge a hefty fee to provide it.
#3. Check clearance service.
This has very low start up costs. Here is how it works. You contact local businesses that take small checks ( pizza places, etc. ) . You tell them you will guarantee every check they take that bounces. ( For instance if they take a check for $13.21 and it bounces you pay them $13.21 for it ). Stores who dont already have a clearance service will love this because they dont have time to track down some guy for $13.21, so they usually just end up eating it. By using your service, they will never have another bad check again. Either it clears the bank or you cover it. You make money by charging the people who have bounced checks a $20.00 service fee. If the average bad check you buy is $10.00 you only need to get 1/3 of people to pay in order to break even. I would think that 80-85% will pay in the end. You would have to provide the business that you are guarantee checks for with certain rules to help you collect. Common rules are - No starter checks, no checks over $50 ( or any figure you choose ), requiring SS #'s and DL #'s on checks, etc.
Here are a few ideas.
#1 - Payday advance store.
Set up a store in a low income neighborhood ( Teens to mid - 20's ). Start a check cashing business where you charge people a fee for a payday advance. I am sure you have heard of these because they are popping up all over. However, you can still find some areas without these where you could get a good footing. The initial investment ( renting a store, advertising, license fees,security, money on hand to start ) would be pretty low. With all the drug addicts in the U.S., there is great profit potential in this industry.
#2. Pawn Shop
Kind of the same idea. They want money now, you charge a hefty fee to provide it.
#3. Check clearance service.
This has very low start up costs. Here is how it works. You contact local businesses that take small checks ( pizza places, etc. ) . You tell them you will guarantee every check they take that bounces. ( For instance if they take a check for $13.21 and it bounces you pay them $13.21 for it ). Stores who dont already have a clearance service will love this because they dont have time to track down some guy for $13.21, so they usually just end up eating it. By using your service, they will never have another bad check again. Either it clears the bank or you cover it. You make money by charging the people who have bounced checks a $20.00 service fee. If the average bad check you buy is $10.00 you only need to get 1/3 of people to pay in order to break even. I would think that 80-85% will pay in the end. You would have to provide the business that you are guarantee checks for with certain rules to help you collect. Common rules are - No starter checks, no checks over $50 ( or any figure you choose ), requiring SS #'s and DL #'s on checks, etc.
50k is not really much to invest these days but get in something you like! If you enjoy what you do you'll never have to "work" another day of your life. How about buying a piece in a small gym? You're going to be there anyway, make some money at it if you can.
JMan's 19-Inch Arms of Steel Sweatbox!
JMan's 19-Inch Arms of Steel Sweatbox!
A buddy of mine started up an internet cafe with 35K. He's doing extremely well. Market it to kids, sell pop, junk food etc. On-line gaming is a huge market that is still in it's infancy. Mom and dad love it because it's a place they know the kids are off the streets, aren't going to get in trouble. And they love sending them there so they don't have a house full of teenagers. The growth potential is unbelievable.
