Completed 10 years in Canada
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Posts: 1351
Location: Brampton, Ont, Canada
Posted on: 04-05-15 22:12:56
Location: Brampton, Ont, Canada
Posted on: 04-05-15 22:12:56
Let’s look at the broader picture. Why people attract to western country?
Because this country are rich there for they have so much facilities, standard, protection for their people. They can provide good education, good future etc… that’s all because these country have enough fund/ resources to provide all this.
If these countries are poor like third world country than do you think people would migrate here???
What was wrong staying back home if you we just wanted simple life style?
Most of us migrate here to have better future and money play big role in it. Yes may be milliners is different story but we need enough money to balance life without that our life is sucks.
I still believe that people who migrate and settle with simple lifestyle have given up the hope, they are not go getter or risk taker. And again most of them (not all) just use excuse to satisfy their ego of not reaching where they supposed to be.
Again, few options are there but most of us here to make money to have better future.
I rest my point here , I don’t want to get into argue. No one is right and everyone is right
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'Some goals are so worthy, it's glorious even to fail.' (Param Vir Chakra awardee Lt. Manoj Pandey)
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Originally posted by ramar2005
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Originally posted by febpreet
As it turns out, I hate working after 5PM and rush home as soon as possible to see my family's faces.
You must be most fortunate to have a loving spouse and children. Many of the people work late hours or even outstation jobs to avoid family responsibilities. To be liked by one's own family members is more difficult than become a Mahatma for the world.
Ramar, no family is perfect. You sound like a realist. Even if it's exhaustive, I would rather sulk at home in a familiar (or 'un'familiar at times
) environment than to slog it at work after 5. At least, I have more avenues of distraction at home than while at work. Also, with a freedom to go take a walk out when I feel low.I completely agree with your last statement though. Another reason, why it's fruitless to amass wealth beyond a point.
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I agree.
When you buy and set up a franchisee, always consider how much you would pay to yourself on the top of the profits. Don't just say, you pay yourself $4000/month and treat it as a profit as well. In order to make it a good proposition, this is what you need on an average:
- You buy a franchise: $250,000
- Pay the load/month: $1000-$3000
- Aim to pay yourself: $4000/month
- Profits from the Business: At least $7000-12000/month.
Don't treat your paycheck from your franchise a Profit. Both are separate. Many desi people that I met, who own the franchise believe and content with the former. After the expenses, your employee salaries, franchise fee, loans, normal equipment wear/tear, maintenance, you need an income of about $15000/month to sustain and to make it a success story. This includes your own salary and the profit. Anything less is akin to a loss.
One of my friend bought Opa (Greek Fast food franchise). He burnt his hands for 3 years, while he owned the establishment. He sold it at a loss while making only 3000/month when his whole family was involved in operations first hand. He withstood the loss as he also had a construction business on the side to fall back upon.
Make sure you have your bases covered.
Yup , I know a family who bought a SECOND CUP ( Coffee Shop ) franchise for a similar price..they are ALL stressed & trying hard to get rid of it..but no one wants to buy it.
Husband & Wife work there ..plus they have a couple of part time other employees. Also their 2 University kids help them out..on busy days.
They are NOT going into a loss , but whatever profit they make at the end of the year ..if they divide it among the husband, wife & 2 University kids ( who also help out a lot ) ..it doesn't even come to minimum wage ..if you see the amount of hours & energy & time & stress they are putting into their franchise.
If all 4 of them just go a do a MINIMUM wage job somewhere else for the amount of hrs they are putting into their franchise ..they will actually make MORE !!!
Just for status & in society they can tell everyone that they are the PROUD owners of some Second Cup franchise, but I know the real story behind it .
They have to make the initial $ 250,000 investment, plus pay monthly rent/lease , pay for maintenance of the equipment , train staff ( turnover is high ) , give royalties & franchise fees to the Franchiser , buy each & everything form the franchiser like food, even paper napkins, plastic forks, spoons, ketchup, mustard, cups, conatiners etc at inflated cost !
You can't have or Buy anything of your own. Plus they come and boss you around and ask you to do some upgrades, signage etc at YOUR cost. They have ALL the rights & for their name, branding etc you have to pay them.
YOU & your family does the hard work..& someone else reaps the benefits in franchise fees & royalties !
Other locations opened close to you also Cannibalise your business !
People will just tell you that they made $ 100,000 from their franchise last year ..but they don't tell you 4-5 members of their family were working their 60-70 hrs per week over there 7 days a week, 365 days a year !
So its NOT like they made $ 100,000 profit AFTER paying themselves..if you include their man hours, salary, pay cheque ..they actually made NOTHING ! or even a NEGATIVE !
If 4-5 members of your family go & work somewhere else EACH for a minimum wage job for 60-70 hrs a week for 7 days, 365 days ..with Over Time etc ..your family will easily make MORE than $ 100,000 !!
^^^^
Excellent post Adam. That is the truth of owning franchises such as Subway, Quiznos, etc and etc. I have heard of the exact same experiences from some friends who owned such ventures.
Don't even think about getting into one unless you have developed some very sophisticated robots who will run your business.
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Originally posted by Rajagopal
^^^^
Excellent post Adam. That is the truth of owning franchises such as Subway, Quiznos, etc and etc. I have heard of the exact same experiences from some friends who owned such ventures.
Don't even think about getting into one unless you have developed some very sophisticated robots who will run your business.
+1.
Funny is this friend of a friend. He bought Canada Post franchise in remote BC city at a high price than what it was worth. He just immigrated to Canada. Found out later, it was not worth even half of it. The guy he bought from vanished into a thin air overnight. Now, this buyer/owner can't get it off his shoulders even with half of what he paid for. He visited India to lure whatever potential immigrant he may come across, and often seen in the local Networking groups or immigrant settlement agencies to pitch his loss making Canada Post to the new immigrants.
FOBs are the easy targets. Buyers beware.
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Originally posted by ramar2005
You must be most fortunate to have a loving spouse and children. Many of the people work late hours or even outstation jobs to avoid family responsibilities. To be liked by one's own family members is more difficult than become a Mahatma for the world.
I think those who work outstation / avoid family responsibility do not care / love their families .
More important than being liked by your family is to like them and above all perform your responsibility towards your family...
Weekends , though busiest ones are the best days of the week
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Fido.
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Originally posted by Fido
Last time when we met , I shared with him that the peace I get when being with him is unparalleled ..... being together with someone whom you have known as a child and who does not have any vested interest ......... can some times bring more satisfaction that money can buy.....
Who finds a friend finds a treasure !! ... a different kind of success.
Totally agree.
I feel so relax and satisfied when I talk to my old friends back in India. I have grown with them and know them for past 30-35 years. They know each and everything about me and vice versa. That relationship and satisfaction no one can buy. I have made several friends here but feel something is missing. They all only talk about money, house, job etc and to a surprise some of them talk about weekly flyers discounts. LOL.
I have seen people change a lot when they come out of India.
There is no end to material expectations. It keeps on increasing every day. When I was in school, I used to think I only need a scooter and my life will be heaven. Once I bought scooter after few months I started thinking of Maruti 800....I worked day and night to get Maruti 800 and thought will be happiest person once I get that and that would be end of my requirement. But my expectations and greed kept on increasing and I just kept running for big car, big house, highly paid job etc etc
KHABAR THEE KE MANZIL NAHI HAI KAHI
LEKIN HUMKO CHALNA THA CHALTE RAHE
KHILONE BANAYE, BAHALTE RAHE
What I am starting to realize now that there is no end to this race. All I need is "DO WAQT KEE ROTI AUR RAHNE KA MAKAAN, HEALTH, HAPPY FAMILY AND TRUE FRIENDS". Paisa kam hee sahi, ghar chota hee sahi par waqt to mile.
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