Questions regarding the Vancouver Franchise Show
 

Hello fellow members:

I went to the Vancouver Franchise show on April 17, 2011; it was a great learning experience. Before I invest any money into any of the franchises, I have some questions to ask:

1) The show was hosted by National Event Management, how reputable is this organization? and do they do any interviews/checks to make sure the companies are legitimate franchises?

2) The first company I am interested in is a vending machine company named Fresh O Matic. The startup cost of this franchise is $5000 CAD. Any members have experience with them? Here is their website:
http://www.fresh-o-matic.com/home.htm

3) The second company I am interested in is an ATM machine company named Profit Warriors. The startup cost of this franchise is $15,000 CAD. The startup cost is quite high (for me) so I am going to do a lot more research/ask around before I make the decision. Here is their website:
http://www.profitwarrior.ca/

4) I understand that Revscene is mainly a car enthusiast website and not a business/finance website. If there is a better website to ask these questions, please let me know.

Thank you for your assistance

Dude dont waste your money with Fresh-O-Matic. Just look at Craigslist and see how cheap people are getting rid of their vending machines. I'm betting that most of those machines are Fresh-O-Matic which gives a flashy presentation but does not work at all.

I don't mean to be rude, but if you need to go on RS to ask this question, perhaps this is not best for you to be a franchise owner.

You need to do your research by calling other Fresh-O-matics owners, asking for breif financial statements etc etc. you need to do your due diligence. What are your margins, whats the expected revenue, COGS?

Owning a business requires you to do a lot of research. I highly recommend reading books like the E-Myth, the original blue one. Many businesses fail because people don't know how to operate one.

ie. just because you a good chef, doesn't mean you will be a good restaurant owner.


I know you are trying to get rich quick but I think that both those companies you mentioned are not worth the investment. ATM services requires heavy regulation, esecially relating to Anti-Money Laundering.

The good franchises have a lot of goodwill & you have to pay for and are super expensive to get into. Many often fail.

It's just my two cents, but personally i wouldnt go near shiet like this.

And ignoring all of that, the next major problem is where to put them.

All the good vending places have long been taken.

Yep and I someone damages your machine something you know that's going to happen it will cost you lots to fix wiping out any profits you have made.

Also every place has a bank machine already.

No offence taken, I will definitely go read "The E-Myth". Thank you for your feedback