In keeping with the theme of our platform “to elevate the wealth-being of every independent consultants,” I would like to share an opportunity I took it upon myself to take action. As an entrepreneur and opportunity seeker, I always keep an eye open for low risk / high reward opportunity in everything I read and do. Richdad said something has high reward does not necessarily means it has high risk. I totally believe that to be a statement of fact!
Yesterday, I came across an article about Chick-fil-A franchise opportunity that sounded too good to be truth. For $10,000 franchise fee, you can own and run your very own fast food restaurant. Chick-fil-A is not a little hotdog stand. In fact, it has the highest revenue grossing per store in the fast food restaurant industry. Best part, no restaurant experience is needed, and your chances of landing a Chick-fil-A franchise is infinitely higher than winning the $1.5 billion powerball lottery. Training is included as well! What a sweet deal.
Each year more than 20,000 applicants apply for a Chick-fil-A franchise, and only 75 to 80 new franchised operators are selected. Why Chick-fil-A franchise is so cheap to start when it could cost as much as $2.5 million in fee alone to open a McDonald or Taco Bell? I have to conclude, they must unquestionably believed in their brand, their system, and you to offer such a sweet deal. Before you think that this is all free. It is not. You don’t get something for nothing as Napoleon Hill had pointed out in his book, “Think and Grow Rich” . Unlike most other franchises which required you to invest hundreds of thousands or millions of dollars to open a store, Chick-fil-A will paid for the initial investment and have you pay them back by leasing its store and everything else that goes with it. Chick-fil-A takes 15% of gross sales as franchise loyalty fee, plus 50% of earnings after expenses.
Lets do some quick math/projections:
According to QSR magazine, Chick-fil-A’s 2014 average per store sales was $3 million / year.
1, Loyalty fee: $3,000,000 x 15% = $450,000 [15% of gross sales]
2. Net Profit: $3,000,000 x 10% = $300,000 [10% of gross sales? too high? too low?]
3. 50/50 Split: $300,000 / 2 = $150,000
4. Total Franchisee Earnings: $150,000 net profit + $100,000 salary = $250,000 / year
I wish someone from the inside can verify my numbers. As I put these numbers together, I can see that increasing the minimum wages, which would in turn push up wages for everyone in the fast food restaurant industry to retain the same caliber of employees would greatly impact a franchisee’s bottom line…and there is not much margin there at $250,000 / year.
I got an invitation from Chick-fil-A to Complete Franchise Application. I am excited! Here is the email.
We appreciate your interest in Chick-fil-A’s Operator opportunity. After reviewing your Expression of Interest, we would like to offer you access to a secure site where you will be able to complete the Operator Application. We recommend that you copy and paste your essay responses from a separate document to avoid losing your information. Due to the secure site having a timeout function of 90 minutes you should periodically save and return so that your information will not be lost. You may return as often as needed until you submit the application. You will need to access the application through a new URL link that is emailed to you after each time you save your application.
In order to ensure delivery of any future communication regarding this opportunity, please add @agents.icims.com to your trusted senders.
In addition, you may want to have the following information available prior to starting your application:
– Personal Financial Information
– High School GPA
– College and/or Graduate School GPA
– Employment History Information (Salary and Employment Dates)
– Military Service Information (if applicable)
Please be advised that the URL link you are provided will only be accessible for 60 days from receipt of this email.
At the end of this email you will find a link to the online application, as well as your Login Name you established at the time of expressing interest. Please be advised that completion of the application does not guarantee your selection as an Operator. In our selection process, we look for individuals with a strong entrepreneurial spirit, a proven track record in business leadership, a strong sales and marketing drive, and a geographical fit with an available location. First priority is given to internal candidates, such as current Chick-fil-A Operators who desire an additional location or the opportunity to operate a different Chick-fil-A restaurant. We then consider external candidates.
Please allow approximately eight to ten weeks for review of your application, after which we will advise you of our decision regarding your candidacy. Again, thank you for your interest in Chick-fil-A.
Franchisee Selection | Chick-fil-A, Inc.
5200 Buffington Road | Atlanta, GA 30349