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1m14s
- ♪ Every time it rains ♪ ♪ It rains Pennies from heaven ♪ ♪ Don't you know? ♪ ♪ Each cloud contains Pennies from heaven ♪ - ♪ You'll find your fortune ♪ ♪ Fallin' all over town ♪ - Sounds pretty good. - ♪ Be sure that your umbrella ♪ ♪ is upside down ♪ ♪ Trade them for a package of ♪ - ♪ Sunshine and flowers ♪ ♪ If you want the things You love ♪ ♪ You must have showers ♪ ♪ So when you Hear it thunder... ♪ ♪ Don't run under a tree ♪ ♪ There'll be Pennies from heaven ♪ ♪ For you and me ♪ - Sorry.
The Founder
1m51s
- So to summarize... you have a minuscule revenue stream. No cash reserves. And an albatross of a contract that requires you to go through a slow approval process to enact changes if they're approved at all. Which they never are. - Am I missing anything? - That about sums it up. - Tell me about the land. - The... land? - The land, the buildings, how that whole aspect of it works. - Oh, pretty simple really. Franchisee finds a piece of land he likes. Gets a lease, usually 20 years. Takes out a construction loan, throws up a building and off he goes. - So the operator selects the site. - Yeah. - He picks the property? - Right. - You provide the training, the system, the operational know-how, and he's responsible for the rest? - Is there a problem? - A big one. You don't seem to realize what business you're in. You're not in the burger business. You're in the real estate business. You don't build an empire off a 1.4 percent cut of a 15-cent hamburger. You build it by owning the land upon which that burger is cooked. What you ought to be doing is buying up plots of land then turning around and leasing said plots to franchisees who as a condition of their deal, should be permitted to lease from you and you alone. This will provide you with two things. One, a steady, up-front revenue stream. Money flows in before the first stake is in the ground. Two, greater capital for expansion. Which in turn fuels further land acquisition, which in turn fuels further expansion and so on and so on. Land.
The Founder