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The Bar For non Automotive Related Chat |
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#1 | ||
If it ain't broke........
![]() Join Date: Dec 2007
Location: Sunshine Coast Qld
Posts: 18,523
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http://www.news.com.au/finance/busin...-1227514066454
I have, a learning curve / apprenticeship into small business. After 24 months thou, I knew I wanted to be on my own..........
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#2 | ||
Thailand Specials
Join Date: Aug 2009
Location: Centrefold Lounge
Posts: 49,018
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Sounds like franchises are a load of crap.
Wouldn't mind being the guy who owns the franchise and is ripping everyone else off though ![]() |
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#3 | ||
Shenanigans..............
Join Date: Mar 2007
Location: Footscrazy
Posts: 12,306
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Yep, 7-11 is about as profitable as a Nigerian bank account.
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#4 | ||
3..2..1..
Join Date: Nov 2009
Location: Bellbird park
Posts: 7,218
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Partly because their workers are only paid about $10 an hour
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#5 | ||
FF.Com.Au Hardcore
Join Date: May 2010
Posts: 1,730
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There are easier ways to make money, surely?
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2011 FG XR6 Sedan |
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#6 | ||
Shenanigans..............
Join Date: Mar 2007
Location: Footscrazy
Posts: 12,306
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#7 | ||
FG XR6 Ute & Sedan
![]() Join Date: Oct 2006
Location: Bibra Lake WA
Posts: 22,920
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From assisting people who have got involved by providing financial advice my view is a few are just OK if you know all you are really doing is "buying a job" where you are the boss (and have all the stress) and that you will have to work very hard to make a reasonable living (you'll never get rich). This may be OK if it's work you really love. Most are a rip off and you stand to lose what you invest. If you do actually start making lots of money often the franchiser will just grant a new franchise that will share the market you have built and reduce your profits or even resume and resell the franchise
Do due diligence before you invest see https://www.facebook.com/australianfranchisingdisasters and https://www.accc.gov.au/business/ind...investigations and http://www.unhappyfranchisee.com and http://www.whichfranchise.net.au/ind...rticleID=488to start with. Also talk to other franchisees of the line you are interested in and look at how many are (desperately) for sale.
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regards Blue Last edited by aussiblue; 06-09-2015 at 02:55 PM. |
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#8 | ||
FG XR6 Ute & Sedan
![]() Join Date: Oct 2006
Location: Bibra Lake WA
Posts: 22,920
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This is a good insight into a Subway experience http://somersoft.com/forums/showthread.php?t=75701 and they are probably one of the better franchisers (although they have their unhappy franchisees too). It also reflects the experience of those I know in other lines who felt that the deal was reasonable; they worked very hard long hours to make just a reasonable living.
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regards Blue Last edited by aussiblue; 06-09-2015 at 03:24 PM. |
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#9 | ||
If it ain't broke........
![]() Join Date: Dec 2007
Location: Sunshine Coast Qld
Posts: 18,523
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That ^^^^^^ was an interesting read........
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#10 | ||
Moderator Ford Coupe Club
Join Date: Dec 2004
Location: Vic
Posts: 3,905
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Very interesting reading. These franchises sound like very bad news indeed!!!
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Mitsubishi ASX Auto, White - Daily Commuter XC Fairmont Coupe, 351 4spd, Graphite Grey - The Antidote http://www.fordcoupeclub.org "If you don't know where you're going, any road will take you there" George Harrison 2001. |
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#11 | ||
FF.Com.Au Hardcore
Join Date: Jun 2013
Location: Adelaide
Posts: 1,601
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My dad was a VIP Lawnie for 20 years, which was disastrous, if he ran it as he was supposed to he would work for a full week a month just to pay fees for customers he already had.
He saw no incentive to want to earn more, grow the business, or get better at running things as all his fees would increase, and ran 2 sets of books until VIP finally kicked him out. In hindsight he would have been better off on his own from the beginning, but had a young family at the time and needed a "business in a box" for some form of security.
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____________________ 2019 LDV G10 2009 Mitsubishi Express-GONE 2011 Honda Jazz ____________________ |
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