Who doesn’t love chicken? Ok, besides vegetarians and vegans. But really, southern fried chicken made fresh with a side of handmade dipping sauce?
Come on!
The establishment is called Slim Chickens and regardless of the competition, Slim Chickens brings the community a true dose of southern hospitality with their dining experience.
The company also offers a decent franchise opportunity so you can have a piece of this chicken for a small price. Ok, so it’s not really a small price, but you get the idea.
And this franchise opportunity is the whole reason you’re reading this, right?
Even if it’s not, I’ve got you now and we’re going to get into all of the nitty gritty details on this whole shebang to see how it can fit into your professional lifestyle.
Or even if you would want to begin this journey with Slim Chickens. Either way, it’s going to be a wild ride with some natural chicken in the passenger’s seat and you’re invited. So, let’s get into it!
Contents
Slim Chickens Establishment
So, obviously this is a chicken establishment, but why I it called Slim Chickens? It could be because of the fact that they serve fresh and natural food without extra additives.
There are plenty of chicken restaurants offering chicken and southern sides, but do they really match the southern hospitality that Slim’s offers? I think not.
This is a casual setting where you can enjoy a meal with your friends and family and enjoy the atmosphere of southern hospitality.
If you’re on the run and need a quick bite to eat or you need your meal delivered to you, Slim Chickens handles that too! This establishment caters and delivers their incredible food to its customers.
They pride themselves on serving all natural and always fresh chicken to prevent any problems or riskiness of improperly handled food. Not only is the food fresh and tasty, but their dipping sauce won’t be found in any pre-made plastic container.
They hand make their sauces to perfection every time. So yes, this restaurant is extremely filled with customer service and excellence.
But where do they stand with their franchise opportunity?
Is it just as good?
Maybe even better?
Or possibly not even close? Let’s find out!
The Opportunity & Requirements of Franchising
Since the beginning of the franchise opportunity at Slim Chickens in 2011, there has been some extent of growth. The growth of a franchise business can indicate whether or not there has been an interest in the opportunity or if previous franchises have even thought it was worth it.
But the growth isn’t the only factor that we need to consider when figuring out the health of a company. We’ll be looking at the turnover rate as well.
A turnover rate is figured out by the average from the total number of currently operating outlets and the total number of transfers, terminations, non-renewals, and other things of that nature.
When a company has too high of a turnover rate, it could mean that there has been too many terminations or too many franchises have not made much profit in the business.
When looking at the growth, Slim Chickens has had a growth of 50 within 6 years. In 2011 when they began, there were no running outlets. However, at the end of 2017, there were 50 operating franchise outlets.
From looking at the growth we can see that there has been a definite increase, but not too extreme. However, we also need to look at the turnover rate to figure out if there has been a high number of cancellations to the agreement. The current rate is totaled at 5.04 which is not too bad for the number of franchise outlets that are currently running.
So in the end, we would need to ask more questions to specifically find out what the factors were when averaging out the rate. Such as how many outlets terminated the agreement and how many outlets decided on not renewing their agreement.
Now, we’ll take a look at the requirements and benefits of franchising with Slim Chickens. With some companies, you get a certain level of financial transparency that they provide you with.
Luckily, Slim Chickens offers a high level of transparency to their franchisees. You’ll get data on detailed expenses, system-wide average revenue, and sales numbers from company-owned locations as well as those from affiliates.
The company also provides on-site and in the class training to its franchises as well as computer and tech support.
Now that you know most of the benefits, it’s time to talk money. While the franchising fee is quite low at $15,000 you will have to invest a total of between $915,000 and $1.4 million.
It’s a pretty hefty chunk of change, but it may be worth it if you are truly passionate about the business. The agreement requires an initial 10 years and another 10 years if you choose to renew.
There is no recorded cost for the renewal. So you will have to contact the company directly to find that information out. During those 10 years, you’ll also be in charge of paying royalty and advertising fees based on your revenue.
The royalty fee is currently 5% and the ad fees are .5%; both of which are lower than what the competition requires.
Bring it Home
After checking into Slim Chickens, I’m concluding that this franchise opportunity is worth the investment only if you truly are passionate about making it work.
The growth and turnover rate are extremely well and the benefits of transparency are great as well. Even though there is no refund on the franchise fee or financing available, the fee isn’t too high, to begin with.
So if this is something that sets your soul on fire like a fried chicken, then it just might be worth it for you to enjoy the opportunity of running your own Slim Chickens establishment.
The overall wellness and health of the company seem to be doing pretty decent so there doesn’t seem to be much risk in this investment. The establishment is going places, and it could be going to your neighborhood.
Will you be the one to run and own it?
Why Lead Generation Is The Best Option To Start Business Versus Franchising In 2019
There are many reasons why I prefer the lead generation as the smartest option to start a business, especially to beginner entrepreneurs like you. This doesn’t mean I see franchising as a bad thing. It’s just that not all can afford such $$$ amount on an initial startup prior to the franchisor’s franchising authority.
Not only the money that speaks well to the subject but the amass of work it requires me before I could put up a franchise in accord to the standards set by the company.
As I’ve mentioned many times in my posts, in the franchising industry, you must undergo a series of training and do a comprehensive market research to make sure your product sells, getting your ROI or your Return of Investment you have expected from the beginning.
Having high sales isn’t the case all the time. Unlike in an online business like the lead generation, there are many potential customers I can approach and deal with the leads I’ve generated for them.
In the local business owner’s perspective, this is their gold mine. I’m holding the bread and butter of their business to survive the tough competition against the Giants in the industry.
Since it promises 90 to 95% profit margin, it’s a win-win for both parties. To me and my client. It gives me the 100% reward tantamount to the work I put into the project per client. In the end, it’s financially rewarding at the same time, it boosts my confidence because it gives me purpose.
The purpose to help other struggling businessmen like I was.
According to the study, there are only 50% among the franchisees across the country earn more or less $50,000 per year and only 7% of them earn $250,000.
If we calculate the income per month, that’s only more or less $4,000 per month. If you’re lucky enough to earn $21,000 per month (from $250,000 annual income), you’re already fortunate.
Take me as an example.
In 2019, actually a few months ago, I have been earning $50,000 per month in residual income. That’s solely mine. 100%. With only $30 to $50 monthly expenses to spend for the lead gen sites, that’s almost nothing compared to the value I earn.
In 2014, I earn $9,000 in 12 months with one lead gen site alone. That’s when I worked with a Limo company in Lansing, MI and created a simple website for them to generate leads (until now, it’s going on). Every month—for 4 years—they’ve been paying me $750.
Why is this possible?
Take a look around you. Many people spend their time on the internet. Mostly, they spend it using their mobile phones. Whatever they’re doing there, for sure, they’re also searching for something to buy or a service they’re willing to pay for.
The recent statistics reveal that by next year, the number of internet users on smartphones will reach around 4.68 billion around the world and in the next two years surpassing the 5-billion mark.
That’s a lot of people!
Further, the US Small Business Administration reveals there are around 30 million small businesses registered across the country with at least 50 niches out there. These figures alone tell us how much potential market and small business owner we can approach and negotiate.
The lead generation business isn’t saturated. In fact, it has the least competition versus franchising business and others. Look at the numbers. That’s the proof this will thrive in the long-term. It’s securing its long viability because the internet will last longer than we could imagine.
This is what Facebook, as well as Uber and Airbnb, are doing. They utilize the system wherein they earn a huge amount of money by bringing digital products from the service providers to their respective target market.
In lead generation business, we guarantee high-quality customers than the other marketing platforms. Why? We do attraction marketing, unlike the others who keep interrupting their users’ time by displaying annoying ads between videos or posts, for example.
They click the site because they want to. It’s their decision to visit the client’s site because they want their service. They’re willing to pay. This is what the local businesses want. And only the lead generation business can do that 100%.
If you want to give it a shot, you can go visit our lead generation coaching program and see yourself what you can get. It actually has more value than what you’re paying for. Because you will have the following:
- The High-Income Skill nobody can steal from you. It’s your own prized possession that’s making you capable of doing excellent business brought by the financial confidence you develop. That level of confidence wherein you won’t care anymore about losing your digital assets because you know how to build your wealth back as quick as possible.
- The EXACT blueprint to your first 6- to 7-figure passive residual income that I, as well as other successful online entrepreneurs, have learned and mastered en route to where I am today. Right now, I own 88 lead gen sites and counting; earning at least $50,000 per month. That’s $600,000 in 12 months, baby!