Thinking of buying into a fast food franchise - advice needed

Gaz{M}

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Joined
Feb 9, 2005
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6,974
Wow! Thanks for all the really good advice. @juBa sort of nailed my reasoning for looking into this opportunity. But also, I do not want to be fully dependent on my 9-5 job for income. Therefore, I'm looking into investing into something that is sustainable and where I can earn a secondary income. Two years ago, I was retrenched and it's not easy having bills to pay without a source of income. I do realise that running your own business will require time and dedication and I am willing to put in that extra effort.

The franchise in question is a Steers outlet. I've been told that Steers do offer training and support so I'm not too worried about that. I do believe that the owners want to sell to avoid doing the upgrade, because the estimated upgrade cost is nearly 40% of the cost of starting a new Steers franchise. I don't see any obvious mismanagement on their side, the biggest expenses are rent, royalty fees and salaries. It is this upgrade and the thought of future upgrades that puts me off.

Well at least it is a popular fast food outlet.

Now check online, on Uber Eats and on ratings website what the chains Star rating is. To get a feel for what customers think of the quality and service. If it's bad, thats another challenge to think about.

Is it in a street location that can receive traffic 24/7 or is it in a mall or other gated place with busy hours?

I have heard people doing well with Steers, if in a popular location like a busy mall or casino complex or holiday resort.
 

R4ziel

Expert Member
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Apr 16, 2015
Messages
2,594
If it's a Steers close to me and it offers delivery via Uber Eats ill gladly support and provide feedback regularly XD
 

Gaz{M}

Executive Member
Joined
Feb 9, 2005
Messages
6,974
With our current socio-economic climate, owning a bottle store makes better investment sense. In a pinch, people tend to steer clear of fast foods. Conversely, alcohol is appealing to both happy and depressed people. Win-win.

/I jest. Good luck with whatever you decide.

And rare aged whiskeys are very popular for airmed robberies (our local Checkers Liquor has all their rare whiskeys stolen more than twice a year)
 
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