71–80 of 233 posts
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They said $150-$250k a year for the owner so you would get paid better too.
150-250k a year for a 60hr a week job as the “owner”.
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I think either of these acceptance rates are computed by casting the widest net possible. Nevertheless I have to believe Chick-Fil-A has a very rigorous process for hiring managers, who in turn know how to hire good workers; I have never once encountered the typical surly fast food worker at any of their restaurants.
I think either of these acceptance rates are computed by casting the widest net possible. Quote the opposite. In a Forbes (or similar business publication) last month it stated that Chick-Fil-A is very selective about who it allows to have a franchise. It gets something like 20,000 applications each year but only awards a few franchises. Apparently the biggest factor in getting a franchise is whether the owner has a…
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150-250k a year for a 60hr a week job as the “owner”.
Do they accept job-shares for the position of owner. That's a pretty sweet deal for a $75k-$125k @ 30hr/week job?
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You can potentially scale the chickfila to 2-3, though, and you can imagine you can get other franchises eventually.
From the article: In most cases, they aren’t permitted to “own” multiple locations. They aren’t permitted to run any other business.
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A predatory option can be present with a choice to join it. People can choose to not take such a deal but those who did, they got the worse of the deal by large margins. Even if they did choose that option, doesn't mean that deal was fair to them.
I can't really follow your logic there. In my mind for something to be predatory it should be your pretty much only option while promising you the world, an end to your tough situation. If you have a choice and you end up worse off, you just got into a bad deal is all. The deal is fair because both parties thought it was a good deal, no one was forced or desperate. There was no scam involved either (everyone got what…
Also Quiznos collapsed and was blamed for one franchisees eventual suicide due to their predatory tactics that locked franchise owners into paying high ingredient costs that they could not make a profit on.
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Not sure if you are implying this is not such a great deal but that's what it sounded to me. Maybe from the perspective of a tech person in silicon valley that's not great. But in comparison with pretty much any other job out there this is stellar.
You can't really compare it to "any other job", since a franchise owner needs to front (or be able to raise via loans or investment) a cool million or two just to get started. $150k-$250k/year is a fairly nice ROI for even $2M (though taking on loans or investment changes the math), but the calculation gets a little murkier when you factor in additionally needing to work 60 hours/week, six days/week to keep it coming…
> At $4.2m per store, Chick-fil-A’s average revenue is the highest of any fast-food chain in America, dwarfing both direct competitors (KFC; $1.2m) and bigger brands (McDonald’s; $2.8m) Wow, I did not know this. Why is that?
You can only own one store. So they're always owner managed.
Most organizations lose 30% - 50% of their "mojo" with each layer of separation from an "engaged stakeholder". Generally meaning someone with equity or substantial profit sharing.
I'd also bet that the majority of their owners only own one business, which means they are even more engaged.
Compare that with the typical master franchise operator, who may be running multiple locations and multiple brands. Unless they have an awesome process and technology team, their operational efficiency is probably a full order of magnitude below the typical highly engaged Chick-fil-A...
From the article. Already knew, but this summarizes the food business so beautifully. “As a fast-food franchise owner, you’re often fighting a war for pennies,” says Rose. “Food is the most competitive industry known to man: It has the highest investment level of any industry, the highest failure rate, and the lowest margins.”
https://www.businessinsider.com/in-n-out-employee-pay-2018-1
* Store managers earn an average yearly salary of more than $160,000, more than what the typical tech worker in Silicon Valley makes for the year.
* High wages for fast-food workers can lead to increased productivity, less employee turnover, and bigger profits in the long run.