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It might be my dream come true a lot of people including yours truly have thought about starting a franchise it is actually my secret obsessions not a secret -- I guess.
So today on money we are starting franchise Friday's each week.
You're gonna get as close as you can get to -- first -- experience from people who are going through the process right now.
This could be just what you need.
Your future I think -- families here.
-- -- -- -- -- two subway franchises.
And went tackle who just signed her agreement with franchise newcomer Tom and she.
Welcome to show we want to make people money out there -- you heard the jobs report.
There are only junkie jobs being put on the market -- -- that you really want to take the bull by the -- gotta do what you guys did exist on how did you find.
-- working in banking -- worked previously as analysts at JPMorgan and Goldman Sachs.
I was going through some tough times there during job market.
And now from -- I -- to you know do something on my own and be in my own boss eventually out so I decided to get into franchise business and I got insists.
Great job I mean did you were an analyst on Wall Street making a lot of money something you had studied for that you were feeling secure and right.
And you just needed it because I've looked at this to really take the risk I mean you put your steady income on holds.
You put your money out there was that scary.
It was scary but at the same time I -- -- -- appoint an appointment in my life where you know I'm -- -- on how many responsibility.
127 -- okay.
Not -- -- family you know I don't have a wife so -- right now this is time whereas in to save my money and you know for basically get into this also.
Going to for university -- a lack of food options on campus and you know my friends -- song ever to get into.
He's got the opportunity.
-- -- your story you -- -- -- a little bit differently you're watching shark tank I understand wish Tom and she was on I was watching our I.
Hit it faithfully my daughter and I -- -- watching it's Saturday afternoon so I love the concept love the food that there was nothing else like Eric.
Around -- what's -- -- are.
Right so I take up the web site my husband came home from work at night and it's like well you've got to -- that.
And it's a -- watched it is that why he's so excited that I was like well that's fun I just -- and for our franchise -- like.
I hope I.
He would he said okay he didn't say oh my gosh -- crazier until we can't afford this how in the world are we gonna do it or they thought I was praying that he did they are Korea yet everything I had had a cabinet that's that seems like you expect that.
Were you did you have your business before -- you haven't experienced living in business.
They both on our own business right now I'm an importing he's an excavating and I just wanted something different.
Right now times are changing and I was like I'm at a certain time in my life I'm like I need some new fresh and it's going to be -- site that.
-- -- like a courageous.
Risks seek death I mean if you're already in business for yourself so.
Did it take anything to get up the courage to do this or to seem like a no brainer TO a no brainer.
We actually talked about it get a little -- Eric.
And it was that they and that the and we decided to death row.
So John I would ask you how you came up with subway in particular because I I you know I I've met a lot of people made a ton of money with KFC.
-- -- bunch of them chick -- has always interest me because that's something that.
You know it's not new York and people -- But subway.
Is one of the best ones to do because you don't needed deep Fryer you know it's not very complicated and it tests there's a lot of them out there -- the house so how why just on subway.
You know so -- like you -- as a strong brand had a strong presence in the market there an industry leader and what they do.
Almost thought of course is well.
Typically because you'll raise certain amount of equipment like -- you know just touched upon.
Needing just like I don't -- and a microwave and that's only right exit exactly.
The little -- in -- but I basically.
So that was really one of the reasons in addition.
You know just being able to.
Get get into such a strong -- advertising.
Do you worry there's too many ways is that something that better followers on Twitter set when I talked about -- it was they said boy there's just -- -- and every corner now.
I'm not worried about that is always growth and development opportunities out there real -- markets always changing.
-- -- popping people moving -- a lot of development in the city as you know and and in Attleboro and across the nation.
Yeah -- I mean you went with the franchise that a lot of people haven't heard -- -- and she.
I know that it wasn't like you're considering a bunch different -- you saw this on television was harder to finance.
Or get the money behind it.
For brand that people don't know about now no not at all.
How did you get the money together what's up what how much did it cost UN and what do you think it's gonna take to start -- -- -- -- personal so we're -- -- that it's.
It's all your own money that you had saved up -- why Powell and a so does that make it even scarier because it's not alone that you can walk away from like a lot of people out there have done with their homes it's really -- cash it -- it makes it more exciting and where the challenge is now you have to strive.
Above and beyond yeah so.
It's like a dream come true -- -- yet and John I mean you took all the money that you had saved up you didn't borrow the money either.
Right I was able to save my money.
And throughout the course of working and but a lot of typical franchisees don't go that route.
You know another you can -- try to secure financing through -- bank.
But through you know personal wonder what not how much it cost -- what it cost to get the franchise and how much is startup franchise for the brand is 151000 dollars -- not much but to build out an addition -- an an additional 235 K plus or minus.
Based on your location.
Because you know real -- -- -- -- 230000.
Dollars that's to get the location to redo this -- like all that fixed our Kabul and about 250 plus minus twenty K I would say.
That's a lot of money -- -- you what what was the franchise and what is the start up.
Well we're going for multi franchises.
Right now -- accident killing four -- pop -- an email bank.
Sell its 35000 for the first 125000.
For the fact and 151000 for the third and ten bout and after that they have filled out -- -- -- with explaining depending on the location that you choose.
What the location needs -- -- could -- It's parts of the above -- were saying they got.
You -- -- -- small business loans and also home equity line of credit a second lien against their house I mean it's it's a lot to get the money telling when we come back.
We're gonna hold it here for now franchise Friday isn't over John and -- are going to be back to talk about some of their biggest challenges what with -- hurdles.
So what you think about if you are considering buying and we're gonna get to that coming up later in the show today an.
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