My dad has a franchise of 5 months that is already starting to fail. He has 250k+ put into it, and thats with a shared business partner (500k+ total.) It is located in a great plaza of food and grocery, BUT there is another boba shop 2 minutes from it. I dont know why they chose to build one so close to it. By the end of the second month things started to go downhill and getting worse and worse, only making average of $100-170 dollars a day with $135 dollars needed to pay workers hours for that day. Is there really any way to save this business? Sell the business? Bankrupcy? Any advice helpful

  • Anjunabae85@alien.topBEnglish
    1·
    10 months ago

    How are your accounting books? Your franchisor should be able to give you reports funneled through qvinchy that can compare your numbers to other franchisees in your area.

    I strongly recommend making sure you have accurate books so you can do a thorough analysis of where/why you are losing money. A good bookkeeper can tell you a very thorough story.

    Let me know if you need any support.