Chik Fil A?

I was talking with an old buddy of mine. He said his cash flow was bad. Previously he had planned to leave his old job, collect a severance, and start a new job. The severance was paid out monthly. My buddy thought he would effectively be getting double paid while the severance lasted. Unfortunately it took him a long time to find a replacement job. Thus no doubling.

My friend wanted to have another $50k to $150k in the bank. Well then maybe he should do some lucrative contracting on the side. His problem is that he is a busy guy. He barely gets his work done with all his other commitments. We got to talking. I asked him what other ways could he make a big windfall. He thought he could run a fast food franchise.

One big name that came to mind was Chick-Fil-A. I assumed my friend could not afford the franchise fee. However a little researched showed that the franchise fee was only $5k. You also needed another $5k in liquid funds to begin. Woo hoo. Sign me up. Of course there were a lot of other costs that could range between $250k and $750k. But my friend thought he could convince a bank to loan him the capital.

Who knows? Maybe this is the right way to go. Chick-Fil-A restaurants seem to always get a lot of customers in our local area. I presume there is enough demand for another restaurant or two in the area. This is running a business. Fast food might be a tough market. But with the right franchise in the right place, profits may be forthcoming.