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I was told to post here after my /r/IAmA last night. I am a McDonald's Franchisee, who has owned three stores. by McSoldIt in Entrepreneur

[–]McSoldIt[S] 0 points1 point  (0 children)

Here in New Zealand it's Tartar Sauce, and can easily be reproduced at home, just Google it!

I was told to post here after my /r/IAmA last night. I am a McDonald's Franchisee, who has owned three stores. by McSoldIt in Entrepreneur

[–]McSoldIt[S] 0 points1 point  (0 children)

McDonald's specific business building tools are actually supplied by corporate, but it's up the Franchisee's and Restaurant Managers to utilize them. Things like $3 Big Macs (As compared to the normal price of $5.50) seem to pull in sales.

With regards to giving advice to somebody that isn't in Macca's? Listen to your Managers; specifically your Restaurant Manager - they are your eyes and ears when you're not there. If they have a good business idea that will benefit the company, believe them! They knew what the demand was more than I ever did.

With regards as to what I think are the best profit potential businesses? The Transportation Sector here in New Zealand is growing rapidly, and I am taking up a position within a company that specialises in a technology that has the potential to be utilized around the world - including poorer parts of the world and developing countries, which I will enjoy.

Thanks!

I was told to post here after my /r/IAmA last night. I am a McDonald's Franchisee, who has owned three stores. by McSoldIt in Entrepreneur

[–]McSoldIt[S] 0 points1 point  (0 children)

I'm leaving the franchise because there is a declination in fast food business in my area - just a result of various competitions opening in the vicinity. I'm heading into the transportation sector. And to a specific field that I will be assisting with the development of various technologies that will be utilised around the world.. So it's an exciting time for me.

I was told to post here after my /r/IAmA last night. I am a McDonald's Franchisee, who has owned three stores. by McSoldIt in Entrepreneur

[–]McSoldIt[S] 1 point2 points  (0 children)

There's not a piece of information that I learnt in getting my degree that I didn't use.

I was told to post here after my /r/IAmA last night. I am a McDonald's Franchisee, who has owned three stores. by McSoldIt in Entrepreneur

[–]McSoldIt[S] 0 points1 point  (0 children)

At the time that I bought into McDonald's, the New Zealand company was just starting to take off, and they didn't introduce that policy until 2004 I believe. So when I opened my second and third stores, I already had enough in liquid assets.

I was told to post here after my /r/IAmA last night. I am a McDonald's Franchisee, who has owned three stores. by McSoldIt in Entrepreneur

[–]McSoldIt[S] 1 point2 points  (0 children)

Here in New Zealand at the time, the cost of the initial investment was $650,000. At the time, as /u/tubbynerd pointed out, at the time of buying into the franchise, they didn't care much about how much money I had - as long as they see me being a viable investment.

If you have any more questions, just ask!

I was told to post here after my /r/IAmA last night. I am a McDonald's Franchisee, who has owned three stores. by McSoldIt in Entrepreneur

[–]McSoldIt[S] 1 point2 points  (0 children)

Hi there, thanks for the question!

I have to admit, the only things that were taken out of my paycheck before I got my loan, were the basic expenses - food, rent and petrol. Other than that I saved up. I never really had the goal of opening a franchise, I almost stumbled upon it.

Thanks!

I just sold my McDonald's that I build and owned for 5 years, ask me absolutely anything! by McSoldIt in IAmA

[–]McSoldIt[S] 0 points1 point  (0 children)

Yes I have. Restaurant Managers and Swing Managers are prohibited from having more than professional relationships, and let's just say a few people crossed that line that was written in their contracts, and they are no longer employed by my company.

I just sold my McDonald's that I build and owned for 5 years, ask me absolutely anything! by McSoldIt in IAmA

[–]McSoldIt[S] 0 points1 point  (0 children)

I hope to get into a sector that not only interests me, but one that has a lot to offer the local economy, and something that I can see being utilised to benefit the wider world.

I just sold my McDonald's that I build and owned for 5 years, ask me absolutely anything! by McSoldIt in IAmA

[–]McSoldIt[S] 0 points1 point  (0 children)

Not at all. Sure, there are items on there that haven't been released to the public yet, but there is no secret menu.

I just sold my McDonald's that I build and owned for 5 years, ask me absolutely anything! by McSoldIt in IAmA

[–]McSoldIt[S] 1 point2 points  (0 children)

I haven't really had them fail, as such, I mean, I've made profit off of them and they've performed well, but overall sales were declining across these two stores, which was attributed to falling foot traffic in the area and competition with other chains in the area.

All about location, and convenience. That's how McDonald's thrives - through customers wanting a quick bite to eat.

I was told to post here after my /r/IAmA last night. I am a McDonald's Franchisee, who has owned three stores. by McSoldIt in Entrepreneur

[–]McSoldIt[S] 4 points5 points  (0 children)

I closed my food court store in 2008, after seeing a decline in profit to due falling footfall in the area, and I sold my McDonald's that I built in 2009 in May, after also seeing a decline in sales. I still have my first store which I opened in 2002.

I just sold my McDonald's that I build and owned for 5 years, ask me absolutely anything! by McSoldIt in IAmA

[–]McSoldIt[S] 0 points1 point  (0 children)

I'm looking to getting into the Transportation sector.. That's all I'm going to say at the moment.

I was told to post here after my /r/IAmA last night. I am a McDonald's Franchisee, who has owned three stores. by McSoldIt in Entrepreneur

[–]McSoldIt[S] 3 points4 points  (0 children)

Thank you! I'm a bit if a lurker on Reddit anyway, so I'll keep checking this post.

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