You would think a McDonald's franchise is a license to print money. Buy for $2M goodwill, run it for 10 years, make some money along the way and then sell for $3M goodwill. Six months after a friend of mine bought a McDonald's franchise, KFC opened 4 doors down the road. His turnover dropped 25%. He will run this one for a lot longer than 10 years. There are no guarantees, even with the assumed "best of the best"
Failfax at it again, page-22
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