Okay, Some days ago, I was looking at the cost of owning a McDonald's Franchise (I often get thoughts that are random, especially with business, politics, and Blockchain). Well, this came as a result of tasting a very awful Burger from a stand which a friend got for me in a try to get me out of the current depressed state I was in. After tasting the Burger, I must confess that I came out of that state for a while because the Burger tasted pretty bad (I am sure they did their best). With this, I got thinking, what would be the cost to own a McDonald's Franchise.
A company founded and operated by Richard McDonald and Maurice McDonald, which was later acquired by Ray Kroc. Well, I am not in to tell the story of McDonald's, I am here to look into how to become a franchise. If you must know, McDonald's is one of the Biggest brand in the world with over 37,000 stores in 100 countries, and being the second-Biggest private employer around the world (including you the Franchisee.... anyway, just joking), so this must tell that it is in for business and not joking around. Owning a franchise will surely cost money.
Owning a Franchise means you are your own boss, but you represent a corporation so first in the money part, I will say $500,000 is a good start when it comes to personal finance but it can go up to $2,000,000. Once McDonald's see that the individual is financially capable, then the next option is allocation of restaurants, of which McDonald's will require the Franchisee to pay 40% upfront before the commence of business. Before opening, McDonald's ensure that the company's quality control are met starting with the Logo, the environment, and especially the kitchen. Before opening a franchise, every franchisee will undergo a 12 to 18 months training.
Upon opening, the franchisee will be paying for rent as well as a 4% charge depending on the sales made. The Burger must be done in the right temperature, the fries done well and so on. Mc Donald's also allows for innovation, but the innovation is at the cost of the franchisees, as they pay for whatever equipment that will be used. For every upgrade you see in a McDonald franchise, the franchisee pays for them.
Although prople eat Burger on a daily basis but then, are these charges and fees making a franchisee profitable or are they just rip offs?
Greetings @gbenga 💕❤️
I think we sometimes miss out on a particular thing that matter most when setting up a business or owning a company like that of Mac Donald. This has to do with involving God in anything you do and always remember to pray for Grace on anything you embark on
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead ❤️💕❤️
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Greetings @gbenga certainly according to your expocision have a franchise in Mc Donalds will take you a long time to recover the initial investment, unless the point of location is a lot of traffic and therefore many sales, also given the number of franchises of this type already existing sales are becoming more competitive, very interesting your publication and reflective of how the economy is going worldwide as this company is a benchmark, greetings and success
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Greetings my friend.
Exactly owning a franchise would mean that you are the boss but it also means that everything I start is difficult but if we are in God's hands everything is easy, but I find very interesting your thoughts of having a franchise in Mc Donalds, which influences that it will take a long time to become a reality.
Greetings and thank you
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hello @gbenga,
I worked for this franchise some time ago and I can say that having a system is not always beneficial for the person buying the franchise. I think the only beneficiary is the parent company of the franchises, they charge for giving you the system but do not guarantee results. In the case of small businesses, the best thing is to have a personalized attention with a quality product, to guarantee customer loyalty.
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Interesting thought my friend, we rarely stop to think how much a franchise like McDonald's would cost. And it is true that it is a lot of money, the restaurant needs to be well located to have high traffic, the advantage is that the brand is one of the most recognized and the business model is very well proven.
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$500,000 i guess i would put that money into crypto 😊 instead although owing a McDonald franchise will be super cool thanks for the great info.
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