Want to open new Optical shop, thinking of going with a Franchise

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Originally Posted by cocoisland58

It was a percentage of the monthly store deposits whatever that might be called. Both of these businesses were owned by opticians and franchising was a way to get started. They both ended up going private in the end. One still exists and is doing well.

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I can see a franchise being a good way to get started, especially if you want to company support and advertising, or are in a large area with lots of competition. I can't see wanting to stay a franchise, unless you're making so much money it doesn't matter, like the Chick-Fil-A Franchisees do. There's one just across the parking lot from me, and he's won an award every year he's been open for sales. Now that I think about it, I'm surrounded by franchises. Chick-Fil-A, a tax place, a salon all in the same parking lot basically.

Our last PV we started cost us around 350K up front, royalties are somewhere between 15-20% of gross. We opened 04/2008, we just started making money this year (thanks recession!).

You better be in it for at least 10 years if you are looking for a gravy train. My current office is a 13 yr. old PV franchise and things are really GOOD right now!

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Originally Posted by Java99

I can see a franchise being a good way to get started, especially if you want to company support and advertising, or are in a large area with lots of competition. I can't see wanting to stay a franchise, unless you're making so much money it doesn't matter, like the Chick-Fil-A Franchisees do. There's one just across the parking lot from me, and he's won an award every year he's been open for sales. Now that I think about it, I'm surrounded by franchises. Chick-Fil-A, a tax place, a salon all in the same parking lot basically.

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Chick-Fil-A has a unique recipe, and a specific way of doing business, plus you know that you will get the same, consistent product and service...every time, regardless of where you are.

On the other hand, I optical franchises have little to offer in the way of uniqueness, with the exception of maybe one-upping the competition on the best BOGO sale, or gimmicky tag line. You can't buy ChickFA chicken just anywhere, but you can buy a Versace or a Coach from just about anywhere.

Now if you really want to make money and be unique, let's talk FezzJohns...

I was thinking of opening up an animal psychologist office...I can picture it now. sorry Mrs Jones, I'll need to speak with your dog alone...that'll be $400.00. I think he will need a couple more appointments before you start seeing results!!!

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Originally Posted by varmint

I was thinking of opening up an animal psychologist office...I can picture it now. sorry Mrs Jones, I'll need to speak with your dog alone...that'll be $400.00. I think he will need a couple more appointments before you start seeing results!!!

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Just out of high school, my best friend and I were going to open a pet cemetery. We had a 55 gallon drum with holes in it for the crematorium, and figured after we sold them a headstone, we could toss the carcasses into the dumpster behind the local IGA.

I figured it was a slam dunk. (I still think it would've been). My parents nixed the idea.

I would not recommend franchising. I made the mistake in 1996 of buying into a franchise. I have been unassociated with this franchise for 6 years and it is still affecting me financially. Stay away from franchising an optical store and stay away from franchising in general. The harder you work, the more money they take and your are left with not much to show for it.

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Originally Posted by njeyedr

I would not recommend franchising. I made the mistake in 1996 of buying into a franchise. I have been unassociated with this franchise for 6 years and it is still affecting me financially. Stay away from franchising an optical store and stay away from franchising in general. The harder you work, the more money they take and your are left with not much to show for it.

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Ditto..............

Post #31 is right from the horses mouth, and should answer your question. It's hard to argue with someone who has been there and lived it.