Owning your own McDonald's sounds great and rolls off the tongue quite well. Just the thought of answering with. "I own a McDonald's franchise." When someone asks what do you do is enough for you to tell everyone who will listen that you will have one someday...right?
Well have you recently studied what it would take to actually make your dreams of owning a McDonald's franchise come true? I did and it's not looking to good for me! Let's take a brief and unofficial look into the "REQUIREMENTS"is how the McDonald's Franchise site put it.
Firstly it seems often asked, "What if I have my own property, can I build a new restaurant on it?"
The quick answer is...H*** NO!
Reason: McDonald's stated through their F&Q portion of the site, that they would gladly direct you towards their McDonald's Real Estate section. Reason being that they take pride in giving back to the community and wants to over-see the site choosing and development.
Secondly it is stated that the total minimum and maximum cost will vary but at minimum of $750,000.00 of personal resources are needed as down payment to be considered. Resources must be non-borrowed and is exclusive of your personal property.
Are you still interested? Good let's continue!
Thirdly they are more specific about how much of a down payment would be required.
New Restaurant: 40% down payment of total cost.
Existing Restaurant: 25% down payment of total cost.
Finally they specify how much of a cut they will take.
Service Fee: based on the restaurants sales performance, the going rate is 4% of monthly sales.
Rent: Monthly based or percentage rent based on percentage of monthly sales.
So if this was your way of getting rich just as it was thought of as being my way to financial freedom, let's all think again.
You basically have to be a millionaire already in my opinion.
Written by. Christopher Rogers for Pushasingle Blog
Firstly it seems often asked, "What if I have my own property, can I build a new restaurant on it?"
The quick answer is...H*** NO!
Reason: McDonald's stated through their F&Q portion of the site, that they would gladly direct you towards their McDonald's Real Estate section. Reason being that they take pride in giving back to the community and wants to over-see the site choosing and development.
Secondly it is stated that the total minimum and maximum cost will vary but at minimum of $750,000.00 of personal resources are needed as down payment to be considered. Resources must be non-borrowed and is exclusive of your personal property.
Are you still interested? Good let's continue!
Thirdly they are more specific about how much of a down payment would be required.
New Restaurant: 40% down payment of total cost.
Existing Restaurant: 25% down payment of total cost.
Finally they specify how much of a cut they will take.
Service Fee: based on the restaurants sales performance, the going rate is 4% of monthly sales.
Rent: Monthly based or percentage rent based on percentage of monthly sales.
So if this was your way of getting rich just as it was thought of as being my way to financial freedom, let's all think again.
You basically have to be a millionaire already in my opinion.
Written by. Christopher Rogers for Pushasingle Blog
