Subway Franchise...

brettcta

Kilty wrote: »

So that's
OP - The biggest problem I see with Subway stores is that they don't seem to care where they're opened and will let 2 franchisees open dangerously close to each other.

the worst example i saw of that was in melbourne - everywhere you turn in the city centre there was another subway

MDUK

Savvy_Sue wrote: »

Yes, get a job in one. Any one will do, heck, a working in a Subway or MacDonalds will do, any of the chains, or in an independent sandwich shop. Make friends with the manager / owner, and see what they say about the profit to be made.

Also learn how to treat staff, or not, and the myriad regulations which go with food hygiene, employing staff, health & safety, and dealing with the Great British Public.

Then see if you're still so keen, and think there's a fortune waiting to be made.

Plus point: you can do the above at the same time as getting your degree.

Just the best bit of advice here.

People poo poo, McDonalds, Subway and the like but you will learn life skills from them that you will use later in life - whether it is in a franchise or for yourself. YOu will learn about hard work (they are surprisingly hard work, you learn people skills, cash handling, teamwork to name but a few. You could work during your uni time (3 years will pass quicker than you realise) If you are as entrepreneurial as you appear you can be using that time to save money (you will need money for whatever you do) and looking for opportunities.

I would like to say 'good luck' but i think you will make your own luck

lb364

I'd just like to stick my nose in and say I think this thread needs more focus on experience and less on age.

What the OP seems to lack is experience and therefore my advice is to complete their degree either part or full time and attempt to get a job in their chosen industry to fill their spare time.
It doesn't have to be a franchise and a small independent will probably allow them to get a better look at how a business is run from scratch (without the marketing etc. usually taken care of by head office in a franchise). Then save as much of the money as possible to put towards your post degree business

:money:Why make all the mistakes in your own business when you can make and learn from them while getting paid to do so?:money:

Good luck and don't forget MSE when you're a millionaire

pitkin2020

Sorry but age is irrelevant and the old "Experience" cliche is a catch 22 situation. You will never gain the true experience without actually doing it and you will never learn the experience of something by studying it at Uni, you will merely get an understanding of a case study.

Your right by saying get some work in the chosen industry and it will give you an insight from the bottom up, but you still won't get the experience of being the owner and the trials and tribulations that go with it. Until everything is on your shoulders your merely staff who can go home at the end of the day, its not always that easy when your the boss.

With regards to age look at Richard Branson who started out in business at 16 and is now worth around £1.5 billion.

Wutang_2

pitkin2020 wrote: »

With regards to age look at Richard Branson who started out in business at 16 and is now worth around £1.5 billion.

I am under the impression that there are a few more 16 year olds who didnt make it though (I may be wrong).

eslick

pitkin2020 wrote: »

With regards to age look at Richard Branson who started out in business at 16 and is now worth around £1.5 billion.

but hes not a self made billionaire, he started at 16 with his family cash and not to mention the "mike oldfield cash", not that many 16 year olds can do that

continualdiamond

Just adding my situation as an example.

My area had a subway go in, perfect location on a little site that had a small supermarket, chippie, pizza place, blockbuster, farmfoods. Plus it was only 5mins from the local highschool and off a busy road. It was extremely popular with the students from school and thus equally popular with the public.

Someone obviously picked up on this and decided to put 1 right in the centre of town, again, a good idea, catch the shoppers as they go about weekend shopping.

So we suddenly went from 0 to 2 within a few mths, both equally apart from each other so appealing to different people depending where they shopped.

By Oct last year both had closed. No more than 6mths had each lasted. First to go was the one further out from town, then suddenly the one in town. I had been into both and whilst yes i did have to que, i wouldn't say it was ever overly busy. I thought they would do quite well, but obviously not.

Kilty_2

brettcta wrote: »

the worst example i saw of that was in melbourne - everywhere you turn in the city centre there was another subway

Glasgow is getting like that too - there's so many!

pitkin2020

Wutang wrote: »

I am under the impression that there are a few more 16 year olds who didnt make it though (I may be wrong).

Of course there will be, I think you missed my point. There are many people who go to uni get experience in their chosen industry and set up in business, some will make it some wont thats just business, regardless of age. There is a lot of peopl ein their 30's starting up in business, doesn't mean they will be more succesful than a 16 year old because they are older.

Savvy_Sue

See, that's why I suggested that the OP should go to work in some catering outlet or other, sooner rather than later.

I suspect that most really successful business people love what they do. I can't see how you can keep putting the hours in if you're not loving it. And even if you CAN keep putting the hours in without loving it, it's not going to make you happy.

Now, if the OP goes to work in his local Subway and after 3 weeks never wants to see another sub in his life, it's a pretty fair bet that this is not a good place for him to make his first million.

And finding this out before he is 20, and before he has committed himself and a huge chunk of money to investing in one, would be the best use of his time he could make at this stage of his life! :rotfl:

If, on the other hand, he comes home every day just longing to be back at work, and brimming with ideas for how to do things better, then either a Subway franchise - or maybe more likely going his own way - could make him very happy!