Is buying a well established franchise for a restaurant, gym, hotel, etc, etc, the most fool proof way of getting rich?

I work in the corporate office of a major fast food brand and it’s not a great route for building wealth but it’s fine for keeping wealth. Like somebody else mentioned there aren’t amazing returns (my brand is around 15% ebitda, some of the higher-traffic brands are a bit higher), but they’re consistent and predictable returns so there’s not too much risk if you have a competent operator

I hope you have the capital to run the business then Mr. NEET.

Fitness sector here is still proportionally much smaller than the US and many European countries. Only 13% of the population use gyms, while it's around 20% in some Euro countries.
I could buy a 300k gym franchise almost 5 times over. I wouldn't be playing with the idea it if I didn't have the money.

>be NEET
>have 1.5mil
>asking how to get rich

something doesn't add up here

>what is money left for you by parents/grandparents
And 1.5m is far from rich.

if you seriously have 1.5mil and are looking to be working your ass off for twice the amount of work hours/week that normal poor people do, something's wrong.

You can invest that money and be set for life. Unless you just want to DO something, which sounds more like the truth.

>Unless you just want to DO something, which sounds more like the truth.
Bingo.

It might still take him a while to be "set for life" with 1.5mil in a normal investment portfolio. The long term average return is around 8%. Setting aside 3% for inflation to sustain your portfolio, you'd get 75k a year. What that would be after taxes would depend by state, but you could be looking at 60k, maybe even a little less. So that's not bad, but you can't actually spend all of this consistently because what if the market turns south and your account temporarily shrinks? You could miss debt payments, depending on how you're living. So you might be looking to put some gap into a savings account or something safe like bonds in order to weather any storms.

But anyways, point being that it is actually a little more precarious than it looks. If you wanted to be REALLY set you need anough money to not worry at all. I'd think that'd be anywhere from 3-5 million. You'd still have to plan financially by putting away your nest egg in case the market tanks, but it wouldn't be as bothersome unless you're living to an absurdly lavish degree.

My current plan is buying a business with low skill entry, some property to rent out, and putting the rest in an index, bonds, and a savings account (I'll just keep my current one). Buying a business and running it successfully is what I want to do the most.

I personally will look something related to food, like restaurant, I live in a country with strong tourism sector so McDonald's always works. Where are you from OP?

England.
Mcdonalds requires you to have previous business experience and they have a long selection process since they have so much demand for their franchise.

its the goys pyramid scheme

every sale you give a % to the top.

That's the price you pay for lower risk.

Buy multiple restaurants and a distro facility for EcoLab or some shit. Make each restaurant something different so they all compete against each other but still end up contributing to you. Reason for the EcoLab thing is that you'd be supplying yourself and your actual competitors with something absolutely essential to the business.

Honestly, if you really want to make it work great, consider starting a cleaning service and repair thing as well so you can also do that in-house. After store hours, send your cleaning crew into each restaurant and if something messes up, you have the repair crew handy too.

These cats would also be available for your competitors, so multiple income sources there again.

Centralize the payroll and structure the corporate layout in the most taxpayer-friendly manner possible.

Basically, you could own 3-5 McDonald's stores, or you could do one each of McDonald's, Wendy's, Burger King, etc all in the same town.

To my knowledge, there's not any sort of noncompete preventing such. Protip: all day limtied breakfast menus have the best profit margins aside from the soft drinks.

>Be set for life
He would have like 70k a year. That isn't exactly going to be "set" in 20+ years.

You can also buy established businesses in general, don't have to be a franchise. Just have a CPA analyze the business, hire a business attorney, put a noncompete into the contract, and negotiate the former owner training you for a few months.

That's 70k the first year. Higher every year as it is compounded.

Even if it was 70k per year, it'd be 3 million+ from doing nothing after 20 years.

If you don't spend any of it...

That's why you live off your salary or use 100k to start a business.

nice try 666 IRS

every bank will fund you everything to start a project like this. this is usually easy money, but yeah the profits are thin. but there's always profits.

Lol as if it was that easy. The last thing you want to do is open a restaurant, 9 out of 10 fail.

Dios mio cheeky Nando's!