A little while back, I had an interesting discussion with an ex-McDonald’s franchisee. A surprising one, actually.
Now, this gentleman wasn’t a recent McDonald’s franchise owner. He bought his first franchise in the 1960’s!
He ended up becoming the owner of several of them. Several.
McDonald’s Franchises In The 1960’s
Talk about being on the ground floor.
Would you have risked almost everything to become the owner of a McDonald’s franchise in 1967? It wasn’t exactly a household name like it is today.
Well, this gentleman did risk just about everything, and became very successful.
He sold his franchises a few years ago, and will never have to work a day in his life ever again. And, believe me, he worked hard for many, many years.
The man told me one thing when we talked that I haven’t been able to delete from my personal memory chips.
Maybe if I share it with you, it will slowly fade from memory.
Here’s what he said;
“I’m glad that I didn’t have to deal with the McDonald’s Dollar Menu. It’s ridiculous. ”
Is It Really That Bad?
It’s a price-leader. What’s wrong with that?
It’s not like customers won’t order other higher-profit items from the menu.
Heck, one medium soft drink sells for $2.00. It probably costs a franchisee 20 cents. That’s a serious profit margin.
Maybe this ex-franchisee is looking at things the wrong way.
Doesn’t it have to be about the big picture?
And, at the end of the day, don’t small business owners look at their total sales?
Important! If You're About To Buy A Franchise, We Need To Talk
(Before You Send In Your Money & Sign Your Contract)
"I was pretty focused on a particular franchise opportunity when I reached out to Joel Libava. In the course of a 1-hour conversation, Joel was able to ask questions and provide direct advice to help clarify the process for me and help guide me through the next steps in my vetting process. He even put me in contact with other professionals who were able to help educate me further in my particular industry. The time and money were well spent."
-Brian Grayson, Cincinnati