Franchising like McDonalds?

Question

Wow, I looked on their website for franchising opportunties and it really expensive. My question is how can I quickly gain atleast $1Million in the bank when I get grown? Im 16 right now...and what do you think I should major in college for this type of thing? What are the pros and cons in franchising in McDonalds?

Answer 1

You should major in business administration with a concentration on management & accountancy courses.  

Pros > they do OK  in most places, & you should earn a decent return on investment.

Cons> you're going to be dealing with lots of competition, your worker turnover will be high, the hours are long & it's now becoming a 24/7 operation.

It's not likely you'll earn a $1 million anytime soon.  You may need to find partners, get loans, take out a 2nd mortgage, or buy someone else's share out & start as a percentage player > meaning you get a piece of the pie as a part owner.

Would you like fries with that?