I want to make a lot of money. T1 with $$ or reapply

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Patriot1208
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Patriot1208 » Wed Apr 06, 2011 6:01 pm

paulinaporizkova wrote:i used to work at a Rocky Mountain Chocolate Factory franchise in a town of about 80k in northern MN and the woman who owned it made baaaaank

The key to franchising is to be the first mover and monopolize the area

paulinaporizkova
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby paulinaporizkova » Wed Apr 06, 2011 6:04 pm

Patriot1208 wrote:
paulinaporizkova wrote:i used to work at a Rocky Mountain Chocolate Factory franchise in a town of about 80k in northern MN and the woman who owned it made baaaaank

The key to franchising is to be the first mover and monopolize the area

this is what she did. perfect area right in the middle of tourist town and everyone comes up from Minneapolis for the summer. we worked like dogs at that place. let's just say one of her kids goes to fordham UG and the other goes to yale UG, and i know at least one of them is costing his parents sticker.

bartleby
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby bartleby » Wed Apr 06, 2011 6:04 pm

Patriot1208 wrote:
paulinaporizkova wrote:i used to work at a Rocky Mountain Chocolate Factory franchise in a town of about 80k in northern MN and the woman who owned it made baaaaank

The key to franchising is to be the first mover and monopolize the area


The key to law school is getting a 180 on the LSAT and then graduating first in your class.

paulinaporizkova
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby paulinaporizkova » Wed Apr 06, 2011 6:05 pm

bartleby wrote:
Patriot1208 wrote:
paulinaporizkova wrote:i used to work at a Rocky Mountain Chocolate Factory franchise in a town of about 80k in northern MN and the woman who owned it made baaaaank

The key to franchising is to be the first mover and monopolize the area


The key to law school is getting a 180 on the LSAT and then graduating first in your class.


ah bartleby! ah the humanity!

rose711
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby rose711 » Wed Apr 06, 2011 6:08 pm

I guess it depends on what OP means by "a lot" of money. I notice OP doesn't mention how hard he is willing to work - not only in law school but also for the years following school. I think that going to law school and assuming you will make biglaw is a mistake. But if you want to work in biglaw just because of the money - at least do your research on the hours you will work to earn your salary and the likelihood you will find a job in biglaw from your law school.

I know people understand that hiring as irrevocably changed- but I get the feeling from these boards that an unrealistic number of 0Ls are assuming they will do well, get biglaw and enjoy that life style.

At any rate, if OP can do better simply by applying early, he should wait a year and reapply.

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Patriot1208
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Patriot1208 » Wed Apr 06, 2011 6:10 pm

bartleby wrote:
Patriot1208 wrote:
paulinaporizkova wrote:i used to work at a Rocky Mountain Chocolate Factory franchise in a town of about 80k in northern MN and the woman who owned it made baaaaank

The key to franchising is to be the first mover and monopolize the area


The key to law school is getting a 180 on the LSAT and then graduating first in your class.

There are plenty of untapped towns that are building up. You may not want to move to northern minnesota but if you do and bring the only five guys in the area you will make bank. Certainly this was much easier in the past though. But being a successful lawyer was much easier in the past as well. I'm not saying franchising is a smart decision but you can do very well with it.

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Stringer Bell
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Stringer Bell » Wed Apr 06, 2011 6:16 pm

Patriot1208 wrote:There are plenty of untapped towns that are building up. You may not want to move to northern minnesota but if you do and bring the only five guys in the area you will make bank. Certainly this was much easier in the past though. But being a successful lawyer was much easier in the past as well. I'm not saying franchising is a smart decision but you can do very well with it.


This requires financing that is much harder to get than financing to attend law school.

bartleby
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby bartleby » Wed Apr 06, 2011 6:19 pm

And what if someone decides to open a Smashburger 2 years down the road? And someone else wants to build an In and Out 5 years down the road?

If i'm going to take my shot and miss, at least uneducated people can be fooled. "I'm a lawyer (from Touro)" sounds better than "I tried to open a Five Guys."

Also, franchises decide where they want to open stuff and you demonstrate that you have experience operating a business. It is just too hard. If something is easy, everyone would be doing it.
Last edited by bartleby on Wed Apr 06, 2011 6:21 pm, edited 2 times in total.

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Flips88
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Flips88 » Wed Apr 06, 2011 6:20 pm

Patriot1208 wrote:
bartleby wrote:
Patriot1208 wrote:
paulinaporizkova wrote:i used to work at a Rocky Mountain Chocolate Factory franchise in a town of about 80k in northern MN and the woman who owned it made baaaaank

The key to franchising is to be the first mover and monopolize the area


The key to law school is getting a 180 on the LSAT and then graduating first in your class.

There are plenty of untapped towns that are building up. You may not want to move to northern minnesota but if you do and bring the only five guys in the area you will make bank. Certainly this was much easier in the past though. But being a successful lawyer was much easier in the past as well. I'm not saying franchising is a smart decision but you can do very well with it.

I want to put a Five Guys in my college town. You would make sooooo much money. Stay open till 3 am on Friday and Saturday for the crowd after bars close. Football games would bring in so much money. I wish I had the money to do it.

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Patriot1208
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Patriot1208 » Wed Apr 06, 2011 6:27 pm

bartleby wrote:And what if someone decides to open a Smashburger 2 years down the road? And someone else wants to build an In and Out 5 years down the road?

If i'm going to take my shot and miss, at least uneducated people can be fooled. "I'm a lawyer (from Touro)" sounds better than "I tried to open a Five Guys."

Also, franchises decide where they want to open stuff and you demonstrate that you have experience operating a business. It is just too hard. If something is easy, everyone would be doing it.


You open the other franchises. That's what I mean by monopolizing. Everyone of the people I know who made it rich from franchising own a bunch of them. Once you are successful with one it's easy to get the financing for another. Again franchising is a bad idea in most instances though

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Stringer Bell
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Stringer Bell » Wed Apr 06, 2011 6:29 pm

Patriot1208 wrote:You open the other franchises. That's what I mean by monopolizing. Everyone of the people I know who made it rich from franchising own a bunch of them. Once you are successful with one it's easy to get the financing for another. Again franchising is a bad idea in most instances though


I would prefer franchising to starting something from scratch. The failure rate is much, much lower. The issue is that it's harder to make big time money and it takes more capital to get started.

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Patriot1208
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Patriot1208 » Wed Apr 06, 2011 6:30 pm

Flips88 wrote:
Patriot1208 wrote:
bartleby wrote:
Patriot1208 wrote:The key to franchising is to be the first mover and monopolize the area

The key to law school is getting a 180 on the LSAT and then graduating first in your class.
There are plenty of untapped towns that are building up. You may not want to move to northern minnesota but if you do and bring the only five guys in the area you will make bank. Certainly this was much easier in the past though. But being a successful lawyer was much easier in the past as well. I'm not saying franchising is a smart decision but you can do very well with it.

I want to put a Five Guys in my college town. You would make sooooo much money. Stay open till 3 am on Friday and Saturday for the crowd after bars close. Football games would bring in so much money. I wish I had the money to do it.
they stopped selling franchises, too much demand. Chances are someone already bought s franchise for that area and it hasn't been built yet

bartleby
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby bartleby » Wed Apr 06, 2011 6:32 pm

Patriot1208 wrote:
bartleby wrote:And what if someone decides to open a Smashburger 2 years down the road? And someone else wants to build an In and Out 5 years down the road?

If i'm going to take my shot and miss, at least uneducated people can be fooled. "I'm a lawyer (from Touro)" sounds better than "I tried to open a Five Guys."

Also, franchises decide where they want to open stuff and you demonstrate that you have experience operating a business. It is just too hard. If something is easy, everyone would be doing it.


You open the other franchises. That's what I mean by monopolizing. Everyone of the people I know who made it rich from franchising own a bunch of them. Once you are successful with one it's easy to get the financing for another. Again franchising is a bad idea in most instances though


yeah, overall franchising is a losing game. probably like law school. but starting your own business is even worse. to be successful, you either have to be one in a million undeniably good, already rich as balls, or incredibly lucky. usually you need all three. this was 10 years ago. ITE, you are probably fucked no matter what. the upside is you can declare bankruptcy and not have to pay back your student loans.

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Flips88
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Flips88 » Wed Apr 06, 2011 6:34 pm

Patriot1208 wrote:they stopped selling franchises, too much demand. Chances are someone already bought s franchise for that area and it hasn't been built yet

They're building one in Moore, which is like 8 or 10 miles up the road but won't attract quite the crowd. They just opened a Fuzzy's in Norman not too long ago and it's a madhouse it's so busy on the weekends.

paulinaporizkova
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby paulinaporizkova » Wed Apr 06, 2011 6:38 pm

Flips88 wrote:
Patriot1208 wrote:they stopped selling franchises, too much demand. Chances are someone already bought s franchise for that area and it hasn't been built yet

They're building one in Moore, which is like 8 or 10 miles up the road but won't attract quite the crowd. They just opened a Fuzzy's in Norman not too long ago and it's a madhouse it's so busy on the weekends.

new places are often crazy busy for the first 6 mos-yr they are open. then shit diiiiies. i worked at a startup restaurant last year and it was insane when it first opened, but now all my friends who still work there are writing facebook statuses like "cool i made 10 dollars in tips on a friday night"

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Flips88
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Flips88 » Wed Apr 06, 2011 6:44 pm

paulinaporizkova wrote:
Flips88 wrote:
Patriot1208 wrote:they stopped selling franchises, too much demand. Chances are someone already bought s franchise for that area and it hasn't been built yet

They're building one in Moore, which is like 8 or 10 miles up the road but won't attract quite the crowd. They just opened a Fuzzy's in Norman not too long ago and it's a madhouse it's so busy on the weekends.

new places are often crazy busy for the first 6 mos-yr they are open. then shit diiiiies. i worked at a startup restaurant last year and it was insane when it first opened, but now all my friends who still work there are writing facebook statuses like "cool i made 10 dollars in tips on a friday night"

It already put the Fat Sandwich Company across the street out of business. Also the $25 fishbowl margaritas help them.

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ResolutePear
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby ResolutePear » Wed Apr 06, 2011 6:45 pm

paulinaporizkova wrote:
Flips88 wrote:
Patriot1208 wrote:they stopped selling franchises, too much demand. Chances are someone already bought s franchise for that area and it hasn't been built yet

They're building one in Moore, which is like 8 or 10 miles up the road but won't attract quite the crowd. They just opened a Fuzzy's in Norman not too long ago and it's a madhouse it's so busy on the weekends.

new places are often crazy busy for the first 6 mos-yr they are open. then shit diiiiies. i worked at a startup restaurant last year and it was insane when it first opened, but now all my friends who still work there are writing facebook statuses like "cool i made 10 dollars in tips on a friday night"


That's because the owner stagnates.

Advertisement never stops - neither does promotion depending on the particular place. People stop going because your competitor got wise.

Take McDonalds or BK for instance: They are household names, yet they advertise like no tomorrow.

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Stringer Bell
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Stringer Bell » Wed Apr 06, 2011 6:46 pm

paulinaporizkova wrote: new places are often crazy busy for the first 6 mos-yr they are open. then shit diiiiies. i worked at a startup restaurant last year and it was insane when it first opened, but now all my friends who still work there are writing facebook statuses like "cool i made 10 dollars in tips on a friday night"


I have family in a small town in East Texas. When Taco Bell opened there 15-20 years ago the line was literally out the door and there was an hour or so wait to order for the first few months it was open.

honestapplicant
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby honestapplicant » Wed Apr 06, 2011 8:08 pm

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Last edited by honestapplicant on Thu Apr 26, 2012 6:32 pm, edited 1 time in total.

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AreJay711
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby AreJay711 » Wed Apr 06, 2011 8:23 pm

There is no Sonic in MD but the franchise is something like $2 million fand you have to get it for the whole state. I'm not sure I could rasie or get a loan for the ~$3 million it would cost to buy the rights and get a store running. I guess I'll have to be abroke ass lawyer.

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dr123
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby dr123 » Wed Apr 06, 2011 8:24 pm

I'm beginning to think Im the only person on this board who think that working a job you like/not hating life > making hella money

honestapplicant
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby honestapplicant » Wed Apr 06, 2011 8:59 pm

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Last edited by honestapplicant on Thu Apr 26, 2012 6:32 pm, edited 1 time in total.


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Stanford4Me
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Stanford4Me » Thu Apr 07, 2011 12:20 am


I can't even start to explain how aggravating that post is.

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Flips88
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Re: I want to make a lot of money. T1 with $$ or reapply

Postby Flips88 » Thu Apr 07, 2011 12:24 am

Stanford4Me wrote:

I can't even start to explain how aggravating that post is.

you can probably guess who showed it to me haha




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