Ok to purchase a franchise, which is noting but a piece of paper that lets you operate a store, that will cost around 20k for your initial store. Now if you were to buy an average established store, that would run around you 250k. If you start one up on your own, you are looking at around 100k -125k initial investment. If you were to work it yourself and put in at least 80 hours a week, control your foodcost and labor, you could make about 100k per year. Subway takes 12.5% of the gross sales (3% of that goes into a national advertising fund). My advice is that if you are willing to work your ass off and can deal with the headaches of minimum wage help then go for it. After you get your first one up and running, you will be looking to open more and that is where you can really make some major cash, but you have to have good people to manage the others. You will also have to take a 2 week course in Connecticut before you can start.
Any other questions, fire away.
Any other questions, fire away.
CalState said:
OK, I need clarification. The 20k that you mention to purchase a franchise is probably what I was thinking about. I understand why purchasing an established store would cost more, but I'm not understanding what the other option is that you're talking about. You say to start one up on my own would cost around 100-125k.......what's the difference between this and the 20k to purchase a franchise? Is the 20k just to "run" a store and share in some profits......while not really owning it?
Thanks.......I may have another question or two once I get your answer.
Thanks.......I may have another question or two once I get your answer.
Exactly what BB guy said. 20k is just for the right to own a store whether you build a new one from scratch or buy an existing on that another owner is looking to sale. The 100k-125k price I quoted is the average price to open up a new one if you were to find a location and lease (including the 20k for the franchise agreement).
OK.....that makes more sense!! 10k, even 20k, would be way to low for a store!
Thanks for the clarification.
I guess my only other question would be a personal one to hitman (or anyone else that has owned one) that you obviously don't have to answer.......why did you get out of it? I'm just looking for more specifics as to the day-to-day running of it. Does it get to be way more trouble than it's worth? Obviously finding good (decent) people at minimum wage and/or managers to run a store while you're not there (for just a little more than minimum wage) is a challenge, but I don't think it's a deal breaker for me - I think you come across that in a lot of business ventures, it's either deal with it or don't go into business at all. What, specifically about Subway, would you think a person would not like???
Thanks again!!!!!
Thanks for the clarification.
I guess my only other question would be a personal one to hitman (or anyone else that has owned one) that you obviously don't have to answer.......why did you get out of it? I'm just looking for more specifics as to the day-to-day running of it. Does it get to be way more trouble than it's worth? Obviously finding good (decent) people at minimum wage and/or managers to run a store while you're not there (for just a little more than minimum wage) is a challenge, but I don't think it's a deal breaker for me - I think you come across that in a lot of business ventures, it's either deal with it or don't go into business at all. What, specifically about Subway, would you think a person would not like???
Thanks again!!!!!
I got out because I didn't enjoy it and I didn't want to put in the hours. I also just hated the food service industry. My store was also in a gas station and my employees had problems with the gas station employees. Also my help was starting to turn over and a few of my employees had problems with each other.
Subway is a fantastic opportunity and it's always voted the number the number 1 or 2 small business/franchise venture for individual investors every year by one of those financial magazines.
I owned my store for about one year and sold it for what I payed for it. I made about 40k in that year but I had a manager to pay. Like I said before if, you are willing to work hard, you will do very well. My best advice I can give you is to actually get a part time job in a Subway and see if you like the day to day shit. 85% of the work you will be doing if you were the owner, is the the exact work that your employees do.
My brother started with one store in 1992 and right now he has 15 and he will be opening 16 & 17 in 2006. He loves the buisness but he has solid people in place and he really doesn't even do that much hands on day to day stuff anymore.
Subway is a fantastic opportunity and it's always voted the number the number 1 or 2 small business/franchise venture for individual investors every year by one of those financial magazines.
I owned my store for about one year and sold it for what I payed for it. I made about 40k in that year but I had a manager to pay. Like I said before if, you are willing to work hard, you will do very well. My best advice I can give you is to actually get a part time job in a Subway and see if you like the day to day shit. 85% of the work you will be doing if you were the owner, is the the exact work that your employees do.
My brother started with one store in 1992 and right now he has 15 and he will be opening 16 & 17 in 2006. He loves the buisness but he has solid people in place and he really doesn't even do that much hands on day to day stuff anymore.
Glad to hear that you got out of it hitman, being that you were not happy. In the business/work world, there's nothing worse than getting up every day and dreading what's ahead of you and where you have to go spend the next 8+ hours. What makes a person happy is different for all of us. One thing I know though.......
It's all about waking up like this.......
Instead of like this..........
ucking:
It's all about waking up like this.......
Instead of like this..........
ucking:
