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  Canada Immigration Forum > About Canada > Business > Any Subway Sandwich owners
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Any Subway Sandwich owners




Hello CDs, We are at a juncture in our life where it makes sense to now leave corporate Canada and explore businesses. We feel ready for Franchaisee business and believe in the promise Subway offers from a healthy eating perspective. Since we are first timers, we'd like to be able to talk to some current Subway owners to get their perspective on owning/running the business.

We do have specific questions and even though we can ask the sellers, they have a vested interest in giving us the glass is always full perspective. If there's anyone who wouldn't mind talking to us from a more neutral perspective, giving us the REAL Picture, we'd appreciate it.

Thanks a bunch!!!
Prospective Business Owner


 
biztyme

Junior Desi
Member since: Jan 10
Posts: 4
Location:

Post ID: 156624 17-01-10 18:36:20
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Vandematram
Senior Desi
Member since: Nov 08




Posts: 1448
Location: Sunny - Leone


Just like in the movie The Graduate, where Dustin Hoffman is adviced, my only advice is as follows:


LOCATION,



LOCATION,


LOCATION.



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Sunny Leone a true Canadian DESI now back in India !.

 
Post ID: 156629 17-01-10 20:25:00
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mkannuri
Senior Desi
Member since: Nov 06




Posts: 409
Location:


Quote:
Originally posted by Vandematram

Just like in the movie The Graduate, where Dustin Hoffman is adviced, my only advice is as follows:
LOCATION,
LOCATION,
LOCATION.



Absolutely right..location and profitablity makes the difference. simple question can answer your confusion.
"Why would some one sells if the location is great and making great profits"?
;)

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MK

 
Post ID: 156631 17-01-10 20:32:41
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7wonders
Senior Desi
Member since: Aug 03




Posts: 518
Location: Toronto


Quote:
Originally posted by mkannuri

Quote:
Originally posted by Vandematram

Just like in the movie The Graduate, where Dustin Hoffman is adviced, my only advice is as follows:
LOCATION,
LOCATION,
LOCATION.



Absolutely right..location and profitablity makes the difference. simple question can answer your confusion.
"Why would some one sells if the location is great and making great profits"?
;)



could be many reason mkannuri
- person may be retiring
- many people just set up business to increase sell value and sell
- many people have staffing problem or divorsed, family problem or partnership probs
- i know its difficult to find a good business but ..there are many option

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E mere vatan ke logo.............

If you want to do something for our country, just dont support corruption or be part of it

 
Post ID: 156632 17-01-10 20:36:29
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biztyme
Junior Desi
Member since: Jan 10




Posts: 4
Location:


I agree LOCATION LOCATION LOCATION.... that's the first rule of any business. We ahve done a lot of research but need info on some insider matters like what is it really like to run this kid of business, what is something you didn't know when you started, what advise would you give to a first timer etc.
To mkannuri: Appreciate your thoughts but it's not always a matter of only loss making businesses sell... if that was teh case there'd be very few businesses in the market. Like 7 wonders says, people sell for various reasons and besides, no one would buy a business without looking at numbers right?

Anyway, like I said, I'm looking for more of advanced level info and not the basics as we have those covered.

Thanks!


 
Last edited by: biztyme on 17-01-10 22:26:29
Post ID: 156636 17-01-10 22:25:43
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Blue_Peafowl
Senior Desi
Member since: Dec 08




Posts: 1350
Location: Brampton, Ont, Canada


The only way you can get the advance info is to actually be at the place... go to the place on different time zone...analyze the business... see how they operate, wat kind of clients are.. Is it near general public or business offices?
U must check lunch time- thats where most of the sell goes for subway...
Other options are: its good if you know someone who owns subway or your AGENT (if he is good) can give u real info.
YOU CAN ALSO FIND OUT GOOD inside info from the person who runs the place I am not talking about owner, but senior employee, manager or team lead.
Overall, subway is not a bad business it will run good at any location (like Tim Horton)...
Different place has different flavor - u need to actually spend some time on that place... just go there and sit.

If you happen to open one then please make sure you keep good customer service attitude, you need to train yours self and the ppl work there to have nice friendly attitude, good smile on face , hello , bye bye stuff, ( soft skill) , I noticed many desi places lack of that attitude
I often go to Tims or subs and found myself so ignored by them , ppl just do their job...Take the order and do the duty but No smile, no Hi, no Hello looks so unprofessional


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'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)

 
Post ID: 156647 18-01-10 10:25:21
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biztyme
Junior Desi
Member since: Jan 10




Posts: 4
Location:


Thanks Bluepea.

WE have done the due diligence from the store perspective where we spent time taking turns to observer peak and non peak hours. We talked to the owner of course (through his agent) and I spoke to the employees indicating that I was looking for a job there.

The option we are looking for however is talking to someone who owns one or more and can answer questions around the inner involvements.

I completely agree with you on the Customer Service part. I know from personal experience that this can make or break a business and I'd definitely ensure that I bring forward the best to the customers should we finalize the deal.

In the mean time, anyone have any insight?

Thanks,
Biztyme


 
Post ID: 156656 18-01-10 11:54:44
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ILOVENA
Senior Desi
Member since: Jan 09




Posts: 295
Location:


Biztyme, I wish you the very best in the new venture. I am sure you have done enough research to make a decision. That said, what one needs to ponder, especially when buying an existing business, is the \"goodwill\" part. As you know, the goodwill part forms a substantial part of the purchase price

A large number of Canadian businesses are managed and financed by the owner.It is important to note that in some cases the , seller's financial statements will be generally unaudited. In other words, the financial statement will depend on the information provided to his acccountant by the seller

One has to go with a reasonable doubt about the veracity of the financial statements given by the seller . One has to go with the assumption that the financial statements that are handed over to you may not accurately reflect the correct asset, and liability values nor the correct income and expenses for the business you plan to buy.

A licensed accountant can help you evaluate the financial information the seller provides to you in the course of a business sale transaction.

By doing so, you would minimize the risk involved - especially when evaluating the \"goodwill\" part of the purchase price. That way, you will reach break even point, sooner than later.

Good luck again!!


 
Post ID: 156713 19-01-10 09:37:56
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chandresh
Senior Desi
Member since: Mar 03




Posts: 2604
Location: Toronto


Quote:
Originally posted by biztyme

Hello CDs, We are at a juncture in our life where it makes sense to now leave corporate Canada and explore businesses. We feel ready for Franchaisee business and believe in the promise Subway offers from a healthy eating perspective. Since we are first timers, we'd like to be able to talk to some current Subway owners to get their perspective on owning/running the business.

We do have specific questions and even though we can ask the sellers, they have a vested interest in giving us the glass is always full perspective. If there's anyone who wouldn't mind talking to us from a more neutral perspective, giving us the REAL Picture, we'd appreciate it.

Thanks a bunch!!!
Prospective Business Owner



I think you should specify whether you are thinking of buying an existing store or will it be a new location being offered directly by the company?

The things that you have to look into will be slightly different depending on the option you have with you.

If it is a new store, the franchisers will themselves give you authority to go to some owners (by communicating to them about you and introducing you to them) - they do arrange such meetings. From those meetings you will be able to judge the kind of work an owner has to do as well as the relationships with the company to whom they pay a franchise fee etc.

In case of an existing store, it is more about the numbers than anything else and the reason for the seller to be selling the store.

But a word of caution - for businesses like Subway, Coffee Time, Quiznos, Baskin Robbins etc, the biggest problem is that these businesses cannot afford a large crew like Tim Hortans. That being the case, the owner has to put in a lot of personal labour and at odd hours too (suddenly your staff might decide that his girlfriend is pestering him to go to her and so either he might not check in or leave his shift at a short notice - and then unless you have a standby guy available, you will have to leave everything else and attend to the store yourself). In businesses like Tim Hortans, Burger King, Mcdonalds, Kentuky etc. it can afford a staff of four or more, and so you do not come up with such emergencies.

-----------------------------------------------------------------
Chandresh

Advice is free lessons I charge for!!

 
Post ID: 156724 19-01-10 12:22:12
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