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04-19-2011, 12:50 AM
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#1
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HELP ME PLS!!!
Join Date: Apr 2002
Location: B.C.
Posts: 5,855
Thanked 456 Times in 173 Posts
Failed 3 Times in 3 Posts
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Questions regarding the Vancouver Franchise Show
Hello fellow members:
I went to the Vancouver Franchise show on April 17, 2011; it was a great learning experience. Before I invest any money into any of the franchises, I have some questions to ask:
1) The show was hosted by National Event Management, how reputable is this organization? and do they do any interviews/checks to make sure the companies are legitimate franchises?
2) The first company I am interested in is a vending machine company named Fresh O Matic. The startup cost of this franchise is $5000 CAD. Any members have experience with them? Here is their website:
http://www.fresh-o-matic.com/home.htm
3) The second company I am interested in is an ATM machine company named Profit Warriors. The startup cost of this franchise is $15,000 CAD. The startup cost is quite high (for me) so I am going to do a lot more research/ask around before I make the decision. Here is their website:
http://www.profitwarrior.ca/
4) I understand that Revscene is mainly a car enthusiast website and not a business/finance website. If there is a better website to ask these questions, please let me know.
Thank you for your assistance
__________________
Quote:
Originally posted by Ulic Qel-Droma
ill have to agree. .. kinda. sometimes i get a hardon over her, but then i'm like *no i shouldnt.. this is wrong, she's not up to my standards*. but i guess my dick has it's own set of rules.
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08-05-2011, 12:16 PM
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#2
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Guest
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Dude dont waste your money with Fresh-O-Matic. Just look at Craigslist and see how cheap people are getting rid of their vending machines. I'm betting that most of those machines are Fresh-O-Matic which gives a flashy presentation but does not work at all.
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08-05-2011, 05:20 PM
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#3
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WOAH! i think Vtec just kicked in!
Join Date: Apr 2004
Location: Vancouver
Posts: 1,687
Thanked 731 Times in 294 Posts
Failed 76 Times in 29 Posts
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I don't mean to be rude, but if you need to go on RS to ask this question, perhaps this is not best for you to be a franchise owner.
You need to do your research by calling other Fresh-O-matics owners, asking for breif financial statements etc etc. you need to do your due diligence. What are your margins, whats the expected revenue, COGS?
Owning a business requires you to do a lot of research. I highly recommend reading books like the E-Myth, the original blue one. Many businesses fail because people don't know how to operate one.
ie. just because you a good chef, doesn't mean you will be a good restaurant owner.
I know you are trying to get rich quick but I think that both those companies you mentioned are not worth the investment. ATM services requires heavy regulation, esecially relating to Anti-Money Laundering.
The good franchises have a lot of goodwill & you have to pay for and are super expensive to get into. Many often fail.
It's just my two cents, but personally i wouldnt go near shiet like this.
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08-05-2011, 07:00 PM
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#4
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Banned By Establishment
Join Date: Dec 2003
Location: New West
Posts: 3,997
Thanked 2,982 Times in 1,135 Posts
Failed 284 Times in 109 Posts
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And ignoring all of that, the next major problem is where to put them.
All the good vending places have long been taken.
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08-10-2011, 01:50 PM
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#5
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Need to Shave n Shower, but I CANT STOP POSTING ON RS
Join Date: Apr 2004
Location: Nanaimo
Posts: 17,644
Thanked 8,518 Times in 3,991 Posts
Failed 1,521 Times in 658 Posts
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Quote:
Originally Posted by Gridlock
And ignoring all of that, the next major problem is where to put them.
All the good vending places have long been taken.
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Yep and I someone damages your machine something you know that's going to happen it will cost you lots to fix wiping out any profits you have made.
Also every place has a bank machine already.
__________________
Until the lions have their own historians, the history of the hunt will always glorify the hunter.
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08-15-2011, 09:37 AM
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#6
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HELP ME PLS!!!
Join Date: Apr 2002
Location: B.C.
Posts: 5,855
Thanked 456 Times in 173 Posts
Failed 3 Times in 3 Posts
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Quote:
Originally Posted by azndude69
I don't mean to be rude, but if you need to go on RS to ask this question, perhaps this is not best for you to be a franchise owner.
You need to do your research by calling other Fresh-O-matics owners, asking for breif financial statements etc etc. you need to do your due diligence. What are your margins, whats the expected revenue, COGS?
Owning a business requires you to do a lot of research. I highly recommend reading books like the E-Myth, the original blue one. Many businesses fail because people don't know how to operate one.
ie. just because you a good chef, doesn't mean you will be a good restaurant owner.
I know you are trying to get rich quick but I think that both those companies you mentioned are not worth the investment. ATM services requires heavy regulation, esecially relating to Anti-Money Laundering.
The good franchises have a lot of goodwill & you have to pay for and are super expensive to get into. Many often fail.
It's just my two cents, but personally i wouldnt go near shiet like this.
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No offence taken, I will definitely go read "The E-Myth". Thank you for your feedback
__________________
Quote:
Originally posted by Ulic Qel-Droma
ill have to agree. .. kinda. sometimes i get a hardon over her, but then i'm like *no i shouldnt.. this is wrong, she's not up to my standards*. but i guess my dick has it's own set of rules.
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