You know, the MLM model is exactly what it's like. Except instead of recruiting people you have to borrow more money and open more restaurants. The parent companies make a killing. Trust me man, I have some so many friends I grew up with that own places. What Ricter does not understand is that when you grow up in the stix in middle america, most these kids will never go to college and to them the dream is not CA or working on Wall Street, the dream is to own a restaurant. That is all they have. It's the only shot they have of making it. I have so many friends in this boat and I know their struggles, and how they live. I'm not saying they are living in card board boxes under an overpass. But it's a really tough life for not much money and that is IF they make it. It's just a shitty way to make a living. We are not talking about running some hip French restaurant in the West Village in Manhattan. We're talking about living 50 miles away from civilization with employees that are beyond undependable serving shit food at dollar prices. Yeah, the American dream Ricter.
http://www.psmag.com/business-economics/disenfranchised-fast-food-workers-quiznos-73967 Here you go Ricter, from a liberal outlet no less. Just please read it with an open mind. Can you do that?
Read the article I posted Ricter including the suicide note. It should give you some pause.....I hope. I know all about the Mcdonalds franchise. One of my best friends from growing up has worked in one his entire life as both an employee and franchise owner. Now read the above article.
I will, but you've been googling, so you know there are just as many success stories. Your "most" claim still does not hold up. Furthermore, my link is to a kid's experience operating in NZ, which has a higher minimum wage, and he still made great money.
Of course there are success stories. We have billionaire traders on ET don't ya know. I went to high school with two of the most prolific running backs in college and pro football. Who cares. I'm trying to get you to understand the economics, NOT the politics of it. You REFUSE to listen to anything that goes against your orthodoxy. One of my best friends childhood buddies borrowed a bunch of money and got a seat on the CBOE. Went under and came back again. His second time around he made 100 million dollars and owns the largest yacht sitting in Lake Michigan and owns the Penthouse in the Four Seasons on Michigan Ave. How many black kids you really think make it to the NFL Ricter? How many poor Irish slubs from the burbs of Chicago make 100 million trading? Do you understand what data points are? I can share success stories with you all night long. I'm trying to get you to understand the reality of the overall market, not individual stories. It boggles my mind that you don't get it. Christ man I just pointed a very thoughtful piece from a left wing site and you still refuse to see the facts. Why? To what purpose? You just don't want to admit you are wrong. Well, you are not wrong Ricter. You just don't understand the numbers. It doesn't make you a bad person. Merely ignorant.
https://www.rt.com/usa/318920-mcdonalds-insolvent-depressed-leaderless/ McDonald’s franchisees insolvent, depressed, leaderless – survey “We are in the throes of a deep depression, and nothing is changing,” one franchisee wrote in response to the survey,according to Business Insider. “Probably 30 percent of operators are insolvent.” Franchisees said the brand could be facing “its final days.” They expressed frustration with the CEOs’s new initiatives, which seem to keep failing.
http://www.business.com/entrepreneurship/does-franchising-pay/ When we crunched the data from the 28,500 franchisees we surveyed for Franchise Business Review’s 2015 Top Franchises Guide, we found that their average annual pre-tax Income was $80,000. However, we know that average numbers can be very misleading since a few top-performing franchisees can artificially inflate them. When we looked at the median annual pre-tax Income for the same group of franchisees, it was actually under $50,000 per year. The bottom line is that many franchisees earn far less money than they had originally planned because they failed to do their homework.
Good find. Not worth it, considering the hours these guys have to work. Calculated hourly, owners probably bring in 17 bucks. Not exactly high on the hog for all that stress and hassle.
Yes, thank you, this supports what I've been saying all along. Maverick's assertion that franchise owners are mostly irreversibly in debt and running zombie shops is untrue. The simple business "economics" of this is, do your due diligence. Quizno's was named one of the worst fast food franchises for last year, and Chipotle's one of the best. If you're making sales everything else takes care of itself. And getting back on point, raising the minimum wage appears no more likely to destroy the fast food franchise now than it did the last time.