What are the common mistakes people make when buying into a fast food restaurant franchise?

What are the universal No No's when buying a restaurant franchise? I am interested in being a business owner. I am tired of making my employer rich. I only have a first mortgage on my home - can that home still be used as collateral with a first mortg. on it? There is about $16K equity in the home currently. Or do I pull cash out of the home (refi) for business start up $ What is the best fast food restaurant franchise to buy? Please inform.

Asked By: awa - 4/23/2009
Best Answer - Chosen by Asker
1. ALWAYS get a job in the franchise you want to buy into. That way you find out if you have the temperment to do it and then you can listen to the current owner's gripes. 2. Do not finance the franchise by refinancing your house.
Answered By: v b - 4/23/2009
Additional Answers (1)
Research, research, research. There are a bunch of forums on the internet for specific franchise industries and magazines dedicated to franchising. You are going to need about $150K to even think about getting into a fast food franchise, and realize that you aren't going to make a ton of money doing it in a lot of... More
Answered By: HEATHER - 4/23/2009
Sponsored results
Over 483 Local Jobs Now Hiring In Your Area. $18-$87/Hr - Apply Today!
Work At Home Jobs Make $87/HR, Jobs Seen On TV. Jobs Hiring Now
Drive Your Car - Make up to $600 Per Weekend. Work When You Want.
Legitimate Survey for Cash.Extra Money for You,Join Here!

Other Career Questions

What is your current job? Why did you choose this job? What do you enjoy about your job? What do you dislike about your job? What would be your perfect job? Would you rather have this j...
3 answers - Asked By: drop pants not bombs!.♥ - 3/2/2010
Where are the jobs? Is productivity and globalization creating a permanent “recession” of jobs? My main issue is I am doing a paper for school and have no idea where to begin. I was hoping suggestions...
4 answers - Asked By: bayebd24【ツ】 - 11/21/2007
Hi ok im 19 and about to start college to do an acess course into a university. Ive been browsing through all the courses and im tottaly stuck! I thought politics but im scared ill end up with some r...
1 answers - Asked By: roseparkerly - 1/26/2009

Content is not owned or controlled by Monster. Any content concerns should be addressed with Yahoo!
Yahoo! Does not evaluate or guarantee the accuracy of any Yahoo! Answers content. Yahoo! Disclaimer.

Popular Articles

Best-Paying Work-from-Home Jobs Article Rating
It’s easier than ever to work from home. Of course, not every job is a mobile job, and some companies aren’t interested in having their employees work from home.
2013 Marketing Jobs Outlook Article Rating
The US may be facing another year of anemic hiring overall, but that won't be the case in the high-orbit world of multichannel, digital media marketing.
For Employers: Post Jobs | Search Resumes | Advertise
About Monster | Work for Monster | Advertise with Us | AdChoices | Partner with Us | Investor Relations | Social Media
Terms of Use | Privacy Center | Accessibility Center | Help | Security | Contact Us | Sitemap | Mobile
©2014 Monster - All Rights Reserved U.S. Patents No. 5,832,497; 7,599,930 B1; 7,827,125 and 7,836,060 MWW - Looking for Monster Cable? - V: 2014.1.40.24-324