Alexandoy
VIP Contributor
Let me share this sad story of a known pro basketball player named Alvin. He got a franchise of a bakery. His store is right in front of our village gate. The main product is the morning bread called pandesal although the store is open from 6 am to 8 pm in selling other bakery products.
The franchise fee is $30,000 which is discounted because Alvin is a celebrity. Within 6 months the bakery closed shop due to bankruptcy. The sales did not meet the required volume to break even in the costs. The supplies come from the franchiser and there is also the monthly dues for the maintenance and inspection plus the support. In short, that franchise is very expensive and not viable to operate for long.
The franchise fee is $30,000 which is discounted because Alvin is a celebrity. Within 6 months the bakery closed shop due to bankruptcy. The sales did not meet the required volume to break even in the costs. The supplies come from the franchiser and there is also the monthly dues for the maintenance and inspection plus the support. In short, that franchise is very expensive and not viable to operate for long.
