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SUBWAY FRANCHISE FINANCING, Welcome
Go to Members page and share some info. Tell me more about your preliminary phase of deciding to purchase a franchise. Do you have a business plan?? An accountant?? a lawyer??
Do you know about SCORE?? SCORE is FREE.
Good luck, LUCKIEST
I do have a lawyer and an accountant. I am most interested in figuring out the numbers to see if its even possible for me to get involved in a franchise like this. My skill set is definately geared towards this type of a business and I understand that there are many variables the biggest being location. My initial concerns would be how to acquire to capital to move foward, how much money is needed to stay operational until profits are realized, and when do you start to see profits. I have not yet started a business plan. What is SCORE?
SUBWAY FRANCHISE SCORE is FREE
*SCORE "Counselors to America's Small Business" is a nonprofit
association dedicated to educating entrepreneurs and the formation,
growth and success of small business nationwide.*
Seems like SCORE is doing an exellent job. Is SCORE Helping people world wide ?
The group that is proposing the franchis to you should have a lot of the statisical data needed for your business model.
However LOCATION LOCATION LOCATION is always a crucial factor!
I would suggest meeting with current owners and I mean OWNERS.
Ask the tough questions........
what was your reserve cash allocaton to live on?
How long before you paid yourself?
Where did the money come from?
I could go on but unless you have sacrificed all options keep your personal assets out of the mix!
I did meet with an owner of 5 subway restaurants. He said he makes six figures from each store. I know six figures could mean a lot of different numbers but I'd be happy netting $100k. I'm just in the preliminary stage and I know I need to do more research as there are a lot of questions to be answered. My biggest question though was , Is it possible to start a franchise like this with limited funds and still pull a profit after paying all of my expenses including whatever loans i might need? If I need to save up $200k before I can start a franchise I doubt I will be able to do so. I did discuss location with the owner and he agreed that I had a good idea for a strong producer. I do have experience in this field so I am confident I can run a successful business.
I am asking the same questions about financing a franchise of Smoothie King. I would be interested in the information you find. I am in the preliminary stage of researching this venture for a store in the Southeast.
The cost to start a franchise usually includes everything you need to get started, except for the building. So you will have to find a building to either lease or purchase. Add that cost onto the cost of purchasing a Subway franchise. You should be able to get that information from whoever you're talking to about starting a Subway franchise.
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Hi, I'm in the preliminary phase of deciding to purchase a franchise. I have a bs in restaurant management and 11 years of management experience. I am most interested so far in opening a subway franchise due to their high success rate and my belief that they sell a good product. My question is, how to I come up with the capital to purchase one? I do own a home with approximately $200k in equity and I have a small amount of cash saved up. Will this along with good credit be enough? Does anyone have an idea what the start up costs may be? Will a high loan amount make it impossible to see a profit?Any input would be appreciated