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Franchise investment worth it?
vipergrm
Posts: 95 Forumite
Hi guys,
I'm considering going down the route of investing in a franchise, but I'm not too familiar with them and I am looking for some guidance if possible. I checked out Fastway couriers to see if they'd be any good but I read some reports where people had lost thousands with them. That's certainly not what I would like to do! Also, I don't have £13,500 handy. I'm a qualified computer engineer so I guess a franchise in this secor would probably make sense. My real question is, will it be worth my while? On average, how much money would I expect to be earning in the first year for example? Can you point me to a well regarded website that could possibly help me? I'd really appreciate any feedback. Thanks all! :beer:
I'm considering going down the route of investing in a franchise, but I'm not too familiar with them and I am looking for some guidance if possible. I checked out Fastway couriers to see if they'd be any good but I read some reports where people had lost thousands with them. That's certainly not what I would like to do! Also, I don't have £13,500 handy. I'm a qualified computer engineer so I guess a franchise in this secor would probably make sense. My real question is, will it be worth my while? On average, how much money would I expect to be earning in the first year for example? Can you point me to a well regarded website that could possibly help me? I'd really appreciate any feedback. Thanks all! :beer:
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Comments
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Obviously it really depends how much business knowledge you know, especially about the area you are going into, how much effort you put in and how much you want to win (and make some money).
With a recession baring down on us it may not be a good idea now as soon people will not be spending loads of money on fast food (!)
However, franchise's are always fun and when I have the capital I plan on opening a franchiese store but until then its upto you.
Do you want to take the risk or not?0 -
Thanks for that! I understand it's going to be a risk no matter what, but we all have to start somewhere. At least if it's a franchise and it doesn't work in then I supposed I'd have the option to walk away. Of course, I want to make it a success. I'm really not sure what kind of return I'd be getting. If it works out at £15,000 - £20,000 then it's hardly worth it.
I'm not interested in the fast food franchise part. It's more computer engineering/troubleshooting that would appeal to me. It would be great if I could find someone on here that's in a franchise of this kind.
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Yeh there should be a franchise subsection. I have worked in Dominos Pizza for 2 years now and see a great oppurtunity there but you need £80k cash (£240k altogether!!).
But yeh good luck!!0
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