Comments for Where Inspiration and Perspiration Meet... http://www.coachmorse.com Wed, 12 Oct 2011 14:37:16 +0000 hourly 1 http://wordpress.org/?v=3.2.1 Comment on Advice From the Profit Coach… by Coach Morse http://www.coachmorse.com/364/advice-for-subway-start-up-from-the-profit-coach/comment-page-1/#comment-590 Coach Morse Wed, 12 Oct 2011 14:37:16 +0000 http://www.coachmorse.com/?p=364#comment-590 Unfortunately, I don't think this is a good investment and here's why: The rent is too high; and not by a little. It's $50k per year too high, which means instead of making between $85k - $100k profit, you will only make between $35k - $50k (based on my experience). In addition, a 10yr old store should have been remodeled 3 years ago. If the decor is not currently Tuscany, the remodel can cost you between $30k - $50k. My advice is to keep looking. Unfortunately, I don’t think this is a good investment and here’s why:
The rent is too high; and not by a little. It’s $50k per year too high, which means instead of making between $85k – $100k profit, you will only make between $35k – $50k (based on my experience).
In addition, a 10yr old store should have been remodeled 3 years ago. If the decor is not currently Tuscany, the remodel can cost you between $30k – $50k.
My advice is to keep looking.

]]> Comment on Advice From the Profit Coach… by Atul B http://www.coachmorse.com/364/advice-for-subway-start-up-from-the-profit-coach/comment-page-1/#comment-589 Atul B Tue, 11 Oct 2011 20:24:54 +0000 http://www.coachmorse.com/?p=364#comment-589 Hi Coach, I am in the process of looking at an existing Subway Franchise to purchase. I've worked in the food business at a catering hall owned by my family for 5 yrs and this will be my first business venture. I've found a location that is currently doing averaging 8500/ week as per the combo report and has avg 9400/week for the 2 yrs prior ( stated on the combo report as well.) The store currently has a 10yr lease at $6800/month. The store due for a remodel in 5 months. The owner is 100% absentee and had a falling out with his brother in law who was running it. He is asking for 130k. Do you think this is a good for me to get started. The store has a 10yr history at the location. Hi Coach, I am in the process of looking at an existing Subway Franchise to purchase. I’ve worked in the food business at a catering hall owned by my family for 5 yrs and this will be my first business venture. I’ve found a location that is currently doing averaging 8500/ week as per the combo report and has avg 9400/week for the 2 yrs prior ( stated on the combo report as well.) The store currently has a 10yr lease at $6800/month. The store due for a remodel in 5 months. The owner is 100% absentee and had a falling out with his brother in law who was running it. He is asking for 130k. Do you think this is a good for me to get started. The store has a 10yr history at the location.

]]> Comment on Advice From the Profit Coach… by Clay Gibson http://www.coachmorse.com/364/advice-for-subway-start-up-from-the-profit-coach/comment-page-1/#comment-563 Clay Gibson Thu, 04 Aug 2011 03:18:00 +0000 http://www.coachmorse.com/?p=364#comment-563 Hi Coach, first time on your site, doing some research on Subway and found my way here. I too am in the process of putting a deal together to open a Subway. My scenario is a bit different as I operate a gas station, c-store, and a restaurant and we are looking to convert our restaurant into a subway. Our bonus, in my opinion is that we have customers, sales, and space already existing that we are looking to build on. What I am trying to figure out is what type of increases could I see both in customer counts and sales by converting to a subway? Our restaurant does $250,000 annually currently with roughly 100 transactions a day at a little over a $6 average sale per customer. Can you help me get an idea? We're from Canada by the way too, eh.... Hi Coach, first time on your site, doing some research on Subway and found my way here. I too am in the process of putting a deal together to open a Subway. My scenario is a bit different as I operate a gas station, c-store, and a restaurant and we are looking to convert our restaurant into a subway. Our bonus, in my opinion is that we have customers, sales, and space already existing that we are looking to build on. What I am trying to figure out is what type of increases could I see both in customer counts and sales by converting to a subway? Our restaurant does $250,000 annually currently with roughly 100 transactions a day at a little over a $6 average sale per customer. Can you help me get an idea? We’re from Canada by the way too, eh….

]]> Comment on Amazing Business Success Story… by Powerful Xrumer Service http://www.coachmorse.com/1098/amazing-business-success-story/comment-page-1/#comment-545 Powerful Xrumer Service Thu, 16 Jun 2011 09:16:53 +0000 http://www.coachmorse.com/?p=1098#comment-545 hello, love from finland. your post looks great. Mind if i quote it in my blog? hello, love from finland. your post looks great. Mind if i quote it in my blog?

]]> Comment on Advice From the Profit Coach… by Coach Morse http://www.coachmorse.com/364/advice-for-subway-start-up-from-the-profit-coach/comment-page-1/#comment-529 Coach Morse Mon, 28 Mar 2011 13:24:20 +0000 http://www.coachmorse.com/?p=364#comment-529 Pink, The price ranges you received are accurate in my view, however they are too big to make any decent projections. Build your store for the lowest possible cost. You can always buy more equipment later, but start with the minimum required of you so you can keep your loan payment manageable in tough times. If you're opening a new store, location is the key factor in your success, next is negotiating to keep your fixed costs low. The Leasing Department at Subway will not get you the best deal on your rent. Trust them at your own risk. Instead, negotiate with the Landlord yourself. Ask for a low rent (should not exceed $1600), never accept a lease that includes Percentage Rent, a Triple Net Lease is standard, but make sure you have a lawyer review the terms so you are adequately protected. Insist that the Landlord is required to provide copies of all invoices used to calculate maintenance and taxes. Remember, high start up costs and high rent can kill your business inside of 18 months. There is no such thing as a once in a lifetime chance, so don't be afraid to walk away if the deal stinks. If you need further direction you can contact me to schedule a private consultation. Here's to your Success! CM Pink,
The price ranges you received are accurate in my view, however they are too big to make any decent projections. Build your store for the lowest possible cost. You can always buy more equipment later, but start with the minimum required of you so you can keep your loan payment manageable in tough times. If you’re opening a new store, location is the key factor in your success, next is negotiating to keep your fixed costs low. The Leasing Department at Subway will not get you the best deal on your rent. Trust them at your own risk. Instead, negotiate with the Landlord yourself. Ask for a low rent (should not exceed $1600), never accept a lease that includes Percentage Rent, a Triple Net Lease is standard, but make sure you have a lawyer review the terms so you are adequately protected. Insist that the Landlord is required to provide copies of all invoices used to calculate maintenance and taxes. Remember, high start up costs and high rent can kill your business inside of 18 months. There is no such thing as a once in a lifetime chance, so don’t be afraid to walk away if the deal stinks.
If you need further direction you can contact me to schedule a private consultation.

Here’s to your Success!
CM

]]> Comment on Advice From the Profit Coach… by Pink http://www.coachmorse.com/364/advice-for-subway-start-up-from-the-profit-coach/comment-page-1/#comment-528 Pink Sun, 27 Mar 2011 17:01:52 +0000 http://www.coachmorse.com/?p=364#comment-528 Dear Coach Morrs: I am planing to purchase a Subway Franchise and I need help in figuring out what should be the price for the store. I believe that I was told by the subway ppl that it will cost me anywhere from 150k to 220k and I spoke to the leasing agent of the area that I am think of opening the store and the rent is from 1500 to 2300. what do you think ... thanks for your help.. Dear Coach Morrs: I am planing to purchase a Subway Franchise and I need help in figuring out what should be the price for the store. I believe that I was told by the subway ppl that it will cost me anywhere from 150k to 220k and I spoke to the leasing agent of the area that I am think of opening the store and the rent is from 1500 to 2300. what do you think … thanks for your help..

]]> Comment on Amazing Business Success Story… by Larry Steele http://www.coachmorse.com/1098/amazing-business-success-story/comment-page-1/#comment-526 Larry Steele Tue, 15 Mar 2011 17:01:30 +0000 http://www.coachmorse.com/?p=1098#comment-526 Very good success. Wish I\\\'d done the same, Oh well. Very good success. Wish I\\\’d done the same, Oh well.

]]> Comment on Seeing Opportunity In Hectic Times by Michigan Small Business Coach Buys Fitness Center http://www.coachmorse.com/1419/seeingopportunityinhectictimes/comment-page-1/#comment-516 Michigan Small Business Coach Buys Fitness Center Mon, 14 Feb 2011 16:45:20 +0000 http://www.coachmorse.com/?p=1419#comment-516 [...] with everything else I’ve had going, it just never seemed like the right time to pursue the opportunity. So what makes now a good time? Nothing actually, but when I heard the owner was going to shut down [...] [...] with everything else I’ve had going, it just never seemed like the right time to pursue the opportunity. So what makes now a good time? Nothing actually, but when I heard the owner was going to shut down [...]

]]> Comment on Best Year for Your Business in 2011… by Michigan Business Coach is Relentless in Helping You Succeed http://www.coachmorse.com/1626/best-year-for-your-business-in-2011/comment-page-1/#comment-515 Michigan Business Coach is Relentless in Helping You Succeed Tue, 08 Feb 2011 21:32:12 +0000 http://www.coachmorse.com/?p=1626#comment-515 [...] important to understand that success doesn’t happen overnight. It’s a combination of all the little details you’ve [...] [...] important to understand that success doesn’t happen overnight. It’s a combination of all the little details you’ve [...]

]]> Comment on How Hard Do You Work? by Coach Morse http://www.coachmorse.com/1749/1749/comment-page-1/#comment-514 Coach Morse Sun, 06 Feb 2011 16:07:27 +0000 http://www.coachmorse.com/?p=1749#comment-514 Thanks Frederick. This was a terrific group; a lot of fun to work with... :) Thanks Frederick. This was a terrific group; a lot of fun to work with… :)

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