Profitable Business?

Question

I have a food franchise now but with the economy the way it is we are loosing money out the ying yang. the royaltys of the company is too much and my rent is insane. we have to close the resturant soon..

we have the option of opening something else in this location and i was wondering was there anybody that has a business that is doing good in this market?

i need some ideas.. please help

Answer 1

Right now, people are spending their money on basics.

Insurance payments, mortgage, utilities, necessary health care, taxes.  Any discretionary funds are few and not easily spent.

People supplying the basics are still doing ok.

Answer 2

This will probably not be a popular answer but in these times if you can provide an alternative to the banking cartel and provide some liquidity in this credit crisis you can make a fortune.

2 ideas

1-A check cashing establishment with payday loan services. This will provide liquidity/credit to those in need. If you charge reasonable rates and have some criteria to qualify them like they have cashed their paycheck at your establishment atleast 4 times.  This will become a much needed service. Provides privacy and secure cashing of needed checks without exposure to debt collectors and judgements.

2- Establish a private vault location. Where people can anonymously and securely store valuables/cash. There is one in Las vegas Look them up maybe they are looking franchise out.  You will have more clients than you can handle.

Good Luck..i expect a royalty fee ... just kidding.

Answer 3

It isn't so much the specific brand name of the business, it seems to be more the business operations itself that are affecting business.

I dela with businesses all day long. There are many that provide average products, poor service and are just mis-managed.

During great economic times anyone can open a business and make money. During the rough times, is when the strong and well run survive.

Have someone you can trust to give you an honest opinon to come into your store as a customer and give you an honest opinion about what is good and bad about your store. It needs to be someone that will not sugar coat things. You may not see dirty ceiling tiles, grout lines on the floor or even the employees not giving great service to the customers.