Pandemic more or less over. For 2 years I sat tight to do reading and learning after I stop my business.
Considering one of these franchises. I thought I evaluate the 7 Eleven one first . Starting capital is around $100K. But i find the profits likely to be very thin as most stalls are sited at crowded places where rental is high.much risk is passed on to franchisee and the franchiser will take a big cut.
My conclusion is its like buying a job for yourself. Because you likely have to work at it at lease half the time to get decent profits and save in expense of hiring people whom you have to manage anyway.
It's better not to do a franchise put in effort to learn to source your own supplies and run it as your own business. Q lot of the volume comes from the stall location. The product mix can be easily copied.
Being on a franchise is being too lazy to figure it out yourself...and you end up enriching 7 eleven and working like a dog ....
I am looking at some low key ones like Buzz but I suspect its all on the same template to pass you the risk while they make risk free money.
Anyone taken this route please share the experience.
Thanks.
can try opening a convenient store without franchising. but you'll need several partners that you trust to share the workload and long hours. and the profit margin is thin because without bulk purchases suppliers won't give you good discount
(27-04-2022, 07:00 PM)sgbuffett Wrote: [ -> ]Pandemic more or less over. For 2 years I sat tight to do reading and learning after I stop my business.
Considering one of these franchises. I thought I evaluate the 7 Eleven one first . Starting capital is around $100K. But i find the profits likely to be very thin as most stalls are sited at crowded places where rental is high.much risk is passed on to franchisee and the franchiser will take a big cut.
My conclusion is its like buying a job for yourself. Because you likely have to work at it at lease half the time to get decent profits and save in expense of hiring people whom you have to manage anyway.
It's better not to do a franchise put in effort to learn to source your own supplies and run it as your own business. Q lot of the volume comes from the stall location. The product mix can be easily copied.
Being on a franchise is being too lazy to figure it out yourself...and you end up enriching 7 eleven and working like a dog ....
I am looking at some low key ones like Buzz but I suspect its all on the same template to pass you the risk while they make risk free money.
Anyone taken this route please share the experience.
Thanks.
What you said is true.
You pay an upfront initial fee, after that you pay a monthly royalty based on your sales revenue.
The franchisor teaches you the ropes of the trade.
If you believe you can source for products cheaper than the franchisor, and you are able to learn how to do a grocery store business on your own, go ahead. A lot of the pioneer generation used to run grocery business aka provision shop, and they had far less education than you.
I know one PRC boss forget his name in SG. He into F&B empire.
His way of franchising is unique. His idea is make you also feel like a Boss of your own.
His foreigner workers all got their family tag along come SG. He knows the feeling when one alone go oversea work keep thinking of the family will not give 100 percent at work.
So his workers , most their wife will tag along come. He do help them get permit etc document settle.
Those mamak shops at HDB void decks are basically the same as a 7-11 store, except that they do not have an aircon..
The one at campasspoint outside tia gong 1month 100K profit.
Econ mimart work like this not sure now still the same?
You can look at Subway or Ah Kun.
It is all about location lah. If you are lucky to have one 7/11 at the right location, that's enough already.......
(27-04-2022, 07:20 PM)[[ForeverAlone]] Wrote: [ -> ]Econ mimart work like this not sure now still the same?
Now is under U mart
(27-04-2022, 07:26 PM)Huliwang Wrote: [ -> ]It is all about location lah. If you are lucky to have one 7/11 at the right location, that's enough already.......
Right location does not matter if 7 eleven or Econ or your own Mama shop....why should I pay 7 eleven royalties?
(27-04-2022, 07:26 PM)Huliwang Wrote: [ -> ]It is all about location lah. If you are lucky to have one 7/11 at the right location, that's enough already.......
Have location, but tough to find manpower esp for an business required 24/7/365 days
(27-04-2022, 07:35 PM)SgWinner Wrote: [ -> ]Have location, but tough to find manpower esp for an business required 24/7/365 days
I don't think it make sense for 24/7 operations for all stores like if store is near MRT station and depend on MRT traffic. It will make no sense to open beyond MRT operating hours.
7-11 stores are way over priced
(27-04-2022, 07:34 PM)sgbuffett Wrote: [ -> ]Right location does not matter if 7 eleven or Econ or your own Mama shop....why should I pay 7 eleven royalties?
Correct, not necessary 7/11. Also not necessarily 24 hours operation as most of the 7/11 stores I noticed were completely emptied of customers after 10 PM and just wasting manpower and electricity......
(28-04-2022, 06:44 AM)winbig Wrote: [ -> ]https://blog.moneysmart.sg/business/fran...pore-fees/
There are many other franchise opportunities other than 7-11
Article is laundry list of franchise.
I have been researching on failure rate of franchise and fr what I understand the failure rate is the same as non francise business. So what are people paying the extra for?.
That means you end up losing more when it fails because you pay royalties and licensing fee. These were suppose to increase your chance of success but does not seem to be. The money appear to buy you some short cuts because person is too lazy to figure some simple things out in a Mama shop type of business.
(28-04-2022, 06:51 AM)sgbuffett Wrote: [ -> ]Article is laundry list of franchise.
I have been researching on failure rate of franchise and fr what I understand the failure rate is the same as non francise business. So what are people paying the extra for?.
That means you end up losing more when it fails because you pay royalties and licensing fee. These were suppose to increase your chance of success but does not seem to be. The money appear to buy you some short cuts because person is too lazy to figure some simple things out in a Mama shop type of business.
If u have no money don't even think of business or franchise in Singapore. Singapore market is small u need a substantial amount of money to tide u over until your business or franchise turns profitable.
(27-04-2022, 07:50 PM)p1acebo Wrote: [ -> ]7-11 stores are way over priced
It is the branding
But SG citizens are 30% poorER than Foreigners
So, business can only depend on FTs
Will Top 5 FT Nationality even bother about 7-11 Stores?
NO! Because their countries in China, India, Australia . . . is not even popular
Only dumb people will rely on 7-11
laundry mart is quite ideal, for low capital and no manpower issue.
Be hawker is lowest risk. Seven eleven will make you lose your pants later
(27-04-2022, 07:00 PM)sgbuffett Wrote: [ -> ]Pandemic more or less over. For 2 years I sat tight to do reading and learning after I stop my business.
Considering one of these franchises. I thought I evaluate the 7 Eleven one first . Starting capital is around $100K. But i find the profits likely to be very thin as most stalls are sited at crowded places where rental is high.much risk is passed on to franchisee and the franchiser will take a big cut.
My conclusion is its like buying a job for yourself. Because you likely have to work at it at lease half the time to get decent profits and save in expense of hiring people whom you have to manage anyway.
It's better not to do a franchise put in effort to learn to source your own supplies and run it as your own business. Q lot of the volume comes from the stall location. The product mix can be easily copied.
Being on a franchise is being too lazy to figure it out yourself...and you end up enriching 7 eleven and working like a dog ....
I am looking at some low key ones like Buzz but I suspect its all on the same template to pass you the risk while they make risk free money.
Anyone taken this route please share the experience.
Thanks.
7/Eleven ??!!
without 4D + Toto + sports betting = sure die one..................all their things more expensive due to 24 hr operation.............their own exclusive products not popular also.........
About Buzz. It was under Sph many years before sold off to a nrw owner.
The new owner has decided to stop Buzz franchise.
So no More lobang 9n that.
Can try value$ .
(27-04-2022, 07:34 PM)sgbuffett Wrote: [ -> ]Right location does not matter if 7 eleven or Econ or your own Mama shop....why should I pay 7 eleven royalties?
Subway also runs parallel franchisee programs
But it is halal
No, dont ever operate these franchise stores...the long hrs, no rest , on the ball 25 hrs a day , no work life balance will shorten any person' life.
Just take over from yr parents' hawker stall lah... suka2 open, sukka2 close...really yr own boss...trat it as a pastime, have time to smell roses..cannot go bust one.
Some people are highly ambitious.
They have to experience it before they can it quit.
Let it be.
Have you considered starting your own business instead? It sounds like you're already thinking along those lines. You're right that the product mix can be easily coheed, and the location is a fudge factor. But with some effort and creativity, you can find a niche and make it work for you.
If you're interested, I found this site
https://www.ogscapital.com/tag/catering-business-plans/ which has some great resources for starting a catering business. Maybe you could use some of these tips to get started on your business venture. At the end of the day, it's all about what works best for you and your goals.
You must make sure it can be operated less than 24 hours.
(03-05-2022, 01:10 PM)Ola Wrote: [ -> ]Subway also runs parallel franchisee programs
But it is halal
Subway is in trouble now. Out of the question.