- Joined
- Jan 13, 2024
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- 5
Hello everyone,
I am facing a major decision and would greatly appreciate your opinions and experiences. My long-term goal is to own multiple restaurants of the same brand, serving an entire state in Germany (perhaps even nationwide). I dream of spending my days visiting my restaurants and spending time with partners, customers, employees, and guests.
Option A: One of Germany’s largest system restaurateurs, who is currently developing a new concept, has shown interest in having me as a future joint venture and franchise partner. I have been working with him on and off for the past four years and have learned a great deal from him. He also referred me to one of his companies (software for system gastronomy). He has built a hospitality group with over 100 restaurants. The goal would be to open up to six restaurants (Neapolitan pizza) over the next five years. I would act as the operator and also pay a franchise fee. The advantage here is that I could learn from a very experienced and educated individual who has a PhD from MIT and worked at McKinsey for three years. However, I wonder how much time I could actually spend with him, as he has many other projects.
Option B: A smaller restaurateur with two different concepts has one that seems like a potential gold mine to me. One of the concepts (Premium Burgers) is innovative, has had stable revenues for five years, and emphasizes regionalism and other relevant topics. It meets all Fastlane principles and is difficult to copy. I have already brought many regular customers to this concept without personally knowing the owner. In this option, I would initially manage the staff part-time and write a business plan for the potential expansion of this concept. We would also carry out this venture as a joint venture, but without additional franchise fees.
The revenues and margins of both concepts are very comparable. I look forward to your stimulating feedback and thank you in advance for your time and energy. I am grateful to have been introduced to this knowledge early on.
Thank you, Mergim
I am facing a major decision and would greatly appreciate your opinions and experiences. My long-term goal is to own multiple restaurants of the same brand, serving an entire state in Germany (perhaps even nationwide). I dream of spending my days visiting my restaurants and spending time with partners, customers, employees, and guests.
Option A: One of Germany’s largest system restaurateurs, who is currently developing a new concept, has shown interest in having me as a future joint venture and franchise partner. I have been working with him on and off for the past four years and have learned a great deal from him. He also referred me to one of his companies (software for system gastronomy). He has built a hospitality group with over 100 restaurants. The goal would be to open up to six restaurants (Neapolitan pizza) over the next five years. I would act as the operator and also pay a franchise fee. The advantage here is that I could learn from a very experienced and educated individual who has a PhD from MIT and worked at McKinsey for three years. However, I wonder how much time I could actually spend with him, as he has many other projects.
Option B: A smaller restaurateur with two different concepts has one that seems like a potential gold mine to me. One of the concepts (Premium Burgers) is innovative, has had stable revenues for five years, and emphasizes regionalism and other relevant topics. It meets all Fastlane principles and is difficult to copy. I have already brought many regular customers to this concept without personally knowing the owner. In this option, I would initially manage the staff part-time and write a business plan for the potential expansion of this concept. We would also carry out this venture as a joint venture, but without additional franchise fees.
The revenues and margins of both concepts are very comparable. I look forward to your stimulating feedback and thank you in advance for your time and energy. I am grateful to have been introduced to this knowledge early on.
Thank you, Mergim
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