Updated about 9 years ago on . Most recent reply
Partnering with a business franchise owner
Hi,
I've identified a great fast food franchise that has no locations within about 70-100 miles of Santa Maria, CA. As a real estate investor I don't want to get into the fast food business but, I know this franchise would "Kill It" here. I've identified several locations that could host this franchise.
Ultimately, I want to purchase one of these locations with some partners and at the same time convince a current franchise owner to NNN lease this property from me.
I'm going to spend the next few weeks trying to contact several franchise owners to get their thoughts and also speak with the the property owners to see what types of terms I can get.
At the minimum, I think I should find out what type of rent this franchise would expect to pay, the repositioning cost of the property to turn it into a restaurant, and see if I can purchase a property that offers those terms.
I'd appreciate any advise you guys can offer in putting something like this together.