Recently, I watched The Founder, the true story of how Ray Kroc met Richard and Maurice McDonald and capitalised on their invention of a fast food delivery system by franchising their restaurant and brand.
Richard and Maurice had prepared the groundwork of inventing the totally new and revolutionised fashion of having hot burgers on demand and they had established their brand name of McDonald’s with the powerful symbol of the golden arches. Yet, after Kroc took their brand to the world through franchise he then made the brother’s original store go out of business and took their brand and the name McDonald’s away from them.
Richard and Maurice had a vision that Kroc saw the potential in and took advantage. Kroc does not come out well in the film and if other sources that I have read are true (Fast Food Nation) Kroc made his own success at the expense of many others.
Fortunately, most franchises are an excellent means for hard-working entrepreneurs to grow their own business through the support of an established brand and not what McDonald’s represents.
Credibly have studied the franchise industry and defined the top five successful franchises in the US. Landscaping comes out the top of the league due to it’s low barrier to entry £50k set-up costs and an annual sales average of $200-$500K – those are pretty impressive returns if you do the hard work. And, if you consider Planet Fitness has a set-up cost of almost half a million yet the average sales are $470k per year then landscaping looks even more favourable. But, you have to consider the resale value of the business and competition etc. etc.
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