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2023 4 Star Safety - Jayden Bonsu, NJ - Committing 08/14 @ 4pm

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AtlAtty said:
My only issue with the Chick-Fil-A thing is that I thought (could be wrong) that the Franchise only allowed people to “own” 1 restaurant because every owner is also an operator. And operator as in on-site all day. So my understanding was that no one could “own” more than 1. Maybe I am wrong or maybe the policy has changed as they continue to expand.

My real point being maybe she is stretching the truth.
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The company is extremely strict in selecting owners and a key requirement is they have to embody Christian values and be heavily involved in the day to day running of the operation. The franchisor does not play around, if a franchisee does anything that creates bad press, they will snatch the franchise away. I doubt anyone who owned a franchise would risk it by posting on a football forum. All it takes is one idiot to post something racist and suddenly the franchise owner is accused of being part of an online racist community. And if there was a UF fan owner and I knew who he was, I'd report him to corporate because UF fans deserve bad things to happen to them.

My guess is the guy actually owns NNN leases of Chick-fil-A restaurants. The company does that pretty often for its restaurants because it is a tax advantage (many fast food franchise restaurant locations are owned through NNN leases). Chik-fil-a builds the restaurant then sells the building itself for 4-5 million (not the actual franchise operation) to a property owner, leases the facility back to itself, and pays the building owner rent for a fixed period of time (usually 20 years) . The corporation covers all expenses, taxes, and maintenance. Owner has zero landlord responsibilities. It sounds like an amazing deal for an owner except that the ROI on a NNN lease for a chik fil a restaurant is extremely low
(cap rate is around 3%). The guy claiming to own two Chik Fil As probably owns a couple NNN leases of the restaurants, but he isn't an actual franchisee.
 
ghost2 said:
Deadpool Leather GIF by 2F Performance
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AtlAtty said:
My only issue with the Chick-Fil-A thing is that I thought (could be wrong) that the Franchise only allowed people to “own” 1 restaurant because every owner is also an operator. And operator as in on-site all day. So my understanding was that no one could “own” more than 1. Maybe I am wrong or maybe the policy has changed as they continue to expand.

My real point being maybe she is stretching the truth.
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They are not very big on letting anyone OPERATE more than one, but some people are grandfathered in, and others have an FSU (free standing unit) plus a less labor-intensive location (like a mall or airport location).

And let's remember, QueJay "claimed" to own two other Chick Fil-As because he loaned the $10K fee to a couple of his friends/family. So those other people are the "operators" of the other stores. I'm sure CHICK FIL-A sees it that way, regardless of what QueJay brags about.
 
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TheOriginalCane said:
They are not very big on letting anyone OPERATE more than one, but some people are grandfathered in, and others have an FSU (free standing unit) plus a less labor-intensive location (like a mall or airport location).

And let's remember, QueJay "claimed" to own two other Chick Fil-As because he loaned the $10K fee to a couple of his friends/family. So those other people are the "operators" of the other stores. I'm sure CHICK FIL-A sees it that way, regardless of what QueJay brags about.
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I'm just going to say that the likelihood of QueJay owning or operating a Chick Fil A is slightly above zero. The fat that he see 3 jet skis as a sign of conspicuous consumption is more than enough of an indicator for me to doubt his story.

It's close to possible than it is to probable.
 
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TimeBum said:
The company is extremely strict in selecting owners and a key requirement is they have to embody Christian values and be heavily involved in the day to day running of the operation. The franchisor does not play around, if a franchisee does anything that creates bad press, they will snatch the franchise away. I doubt anyone who owned a franchise would risk it by posting on a football forum. All it takes is one idiot to post something racist and suddenly the franchise owner is accused of being part of an online racist community. And if there was a UF fan owner and I knew who he was, I'd report him to corporate because UF fans deserve bad things to happen to them.

My guess is the guy actually owns NNN leases of Chick-fil-A restaurants. The company does that pretty often for its restaurants because it is a tax advantage (many fast food franchise restaurant locations are owned through NNN leases). Chik-fil-a builds the restaurant then sells the building itself for 4-5 million (not the actual franchise operation) to a property owner, leases the facility back to itself, and pays the building owner rent for a fixed period of time (usually 20 years) . The corporation covers all expenses, taxes, and maintenance. Owner has zero landlord responsibilities. It sounds like an amazing deal for an owner except that the ROI on a NNN lease for a chik fil a restaurant is extremely low
(cap rate is around 3%). The guy claiming to own two Chik Fil As probably owns a couple NNN leases of the restaurants, but he isn't an actual franchisee.
Click to expand...
That's interesting, but I think you forgot the part where this guy has absolutely nothing to do with Chik-fil-A or anything else successful, he's a gater poster.
 
TimeBum said:
The company is extremely strict in selecting owners and a key requirement is they have to embody Christian values and be heavily involved in the day to day running of the operation. The franchisor does not play around, if a franchisee does anything that creates bad press, they will snatch the franchise away. I doubt anyone who owned a franchise would risk it by posting on a football forum. All it takes is one idiot to post something racist and suddenly the franchise owner is accused of being part of an online racist community. And if there was a UF fan owner and I knew who he was, I'd report him to corporate because UF fans deserve bad things to happen to them.

My guess is the guy actually owns NNN leases of Chick-fil-A restaurants. The company does that pretty often for its restaurants because it is a tax advantage (many fast food franchise restaurant locations are owned through NNN leases). Chik-fil-a builds the restaurant then sells the building itself for 4-5 million (not the actual franchise operation) to a property owner, leases the facility back to itself, and pays the building owner rent for a fixed period of time (usually 20 years) . The corporation covers all expenses, taxes, and maintenance. Owner has zero landlord responsibilities. It sounds like an amazing deal for an owner except that the ROI on a NNN lease for a chik fil a restaurant is extremely low
(cap rate is around 3%). The guy claiming to own two Chik Fil As probably owns a couple NNN leases of the restaurants, but he isn't an actual franchisee.
Click to expand...


Yeah, the sale-leaseback model has been popular for a while, it's more than just a tax advantaged, it's also a capital/cash flow advantage. Wal-Mart took over the US by doing the following: (a) studying all the major intersections and the 10-year growth projections in the area, then buying 10-year options on certain real estate parcels, (b) announcing the construction of new Wal-Marts, which were all built by Stan Kroenke, a Walton in-law who is not nearly as bright as he thinks he is, followed by (c) the sale of a completed Wal-Mart to a big institutional investor like an insurance company with a long-term lease anchored by Wal-Mart. The cash flows were very stable and reliable, not as great in the early years, but often with bonuses for Wal-Mart exceeding certain growth targets in the outer years (past the first 10 years of operations). I got to see some of the leases, it's fascinating. Bottom line, Wal-Mart would get back all of their construction costs (to go build more Wal-Marts), they locked into favorable terms for the first decade that nearly guaranteed that they would get off the ground at new locations profitably, then they could afford to kick back more rent in the second decade once they were entrenched and dominating in a particular area.

Chick Fil-A, though, runs a tighter ship, they are not publicly-traded, so they exert a lot more family control (both business and ethics/morals) over the operators. If you look at some of the things they say on the website or in documents, they will NOT engage with you if you try to go to them with land or a particular location (because you are likely expecting a sweetheart arrangement, and they just don't do that). CFA selects all their own locations and builds, and I do not think they do very many deals with the local operators when it comes to sale-leaseback arrangements. Essentially, the Operator agreement that CFA has allows them to "cut someone loose" with very little ramifications. They might have done more sale-leaseback deals in the early days, but I don't think they have a need to do so any longer.

I know some of you guys know Jose, he is the CEO of Bojangles. About 12 or 13 years ago (before Jose was there), the company was all fired up to move into Central Florida, they did a huge sponsorship with NASCAR, and they opened two immaculate double-covered-drivethrough stores in Sanford and Altamonte Springs. Within a year or two, Bojangles had troubles with the franchisee, and they closed both stores. The one in Sanford got snapped up by CFA, and they converted it to a very high-volume CFA. The one in Altamonte sat empty for a while, because CFA was having issues with the local Operator of one of the "old-fashioned" CFAs (the ones that are like Checkers/Rally, drive-through/outside seating only). They were basically giving the guy a chance to make BANK by running a much bigger CFA and he was happy running his little ****hole CFA. Eventually, CFA...ironed it out. There's a new operator running the bigger CFA 100 yards to the east.

And for the record, I just drove over to my brother's house the other day...AND BOJANGLES IS MAKING A COMEBACK. They are building a brand-new Bojangles across the street and just down the road from their original location in Sanford. Glad to see that Jose is fixing things at Bojangles.
 
TimeBum said:
The company is extremely strict in selecting owners and a key requirement is they have to embody Christian values and be heavily involved in the day to day running of the operation. The franchisor does not play around, if a franchisee does anything that creates bad press, they will snatch the franchise away. I doubt anyone who owned a franchise would risk it by posting on a football forum. All it takes is one idiot to post something racist and suddenly the franchise owner is accused of being part of an online racist community. And if there was a UF fan owner and I knew who he was, I'd report him to corporate because UF fans deserve bad things to happen to them.

My guess is the guy actually owns NNN leases of Chick-fil-A restaurants. The company does that pretty often for its restaurants because it is a tax advantage (many fast food franchise restaurant locations are owned through NNN leases). Chik-fil-a builds the restaurant then sells the building itself for 4-5 million (not the actual franchise operation) to a property owner, leases the facility back to itself, and pays the building owner rent for a fixed period of time (usually 20 years) . The corporation covers all expenses, taxes, and maintenance. Owner has zero landlord responsibilities. It sounds like an amazing deal for an owner except that the ROI on a NNN lease for a chik fil a restaurant is extremely low
(cap rate is around 3%). The guy claiming to own two Chik Fil As probably owns a couple NNN leases of the restaurants, but he isn't an actual franchisee.
Click to expand...
I had an option with Arby's to do some NNN leases; really as many as we wanted since the franchisors are always looking to make these deals. But as you noted the ROI is very low on these investments. It's an extremely stable investment so I can see the appeal to someone who just wants a very specific fixed income but I can't live off 3%.

Thanks for the info. I think we have given @gogeta4 enough Chik-Fil-A info for him to decide which woman to be pursued by.
 
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AtlAtty said:
I tell guys all the time that if you are single, and under 80 years old, ATL is a great place to be. Not only do the women look great, but they aren’t nearly as money hungry or pretentious as LA, Miami or NYC. Guys don’t even need a lot of money. In fact, a lot of the women have better jobs and make more money than the guys. If a guy can’t hook up in ATL then he has serious, serious problems with his game.
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I'm OTP but to your first point... ehhhhhhh okay maybe not as bad as LA/Miami/NYC lol but there's still some of that, especially in Alpharetta.

And absolutely concur to the 2nd part, a lot of the women I know make more than the guys.
 
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TheOriginalCane said:
Yeah, the sale-leaseback model has been popular for a while, it's more than just a tax advantaged, it's also a capital/cash flow advantage. Wal-Mart took over the US by doing the following: (a) studying all the major intersections and the 10-year growth projections in the area, then buying 10-year options on certain real estate parcels, (b) announcing the construction of new Wal-Marts, which were all built by Stan Kroenke, a Walton in-law who is not nearly as bright as he thinks he is, followed by (c) the sale of a completed Wal-Mart to a big institutional investor like an insurance company with a long-term lease anchored by Wal-Mart. The cash flows were very stable and reliable, not as great in the early years, but often with bonuses for Wal-Mart exceeding certain growth targets in the outer years (past the first 10 years of operations). I got to see some of the leases, it's fascinating. Bottom line, Wal-Mart would get back all of their construction costs (to go build more Wal-Marts), they locked into favorable terms for the first decade that nearly guaranteed that they would get off the ground at new locations profitably, then they could afford to kick back more rent in the second decade once they were entrenched and dominating in a particular area.

Chick Fil-A, though, runs a tighter ship, they are not publicly-traded, so they exert a lot more family control (both business and ethics/morals) over the operators. If you look at some of the things they say on the website or in documents, they will NOT engage with you if you try to go to them with land or a particular location (because you are likely expecting a sweetheart arrangement, and they just don't do that). CFA selects all their own locations and builds, and I do not think they do very many deals with the local operators when it comes to sale-leaseback arrangements. Essentially, the Operator agreement that CFA has allows them to "cut someone loose" with very little ramifications. They might have done more sale-leaseback deals in the early days, but I don't think they have a need to do so any longer.

I know some of you guys know Jose, he is the CEO of Bojangles. About 12 or 13 years ago (before Jose was there), the company was all fired up to move into Central Florida, they did a huge sponsorship with NASCAR, and they opened two immaculate double-covered-drivethrough stores in Sanford and Altamonte Springs. Within a year or two, Bojangles had troubles with the franchisee, and they closed both stores. The one in Sanford got snapped up by CFA, and they converted it to a very high-volume CFA. The one in Altamonte sat empty for a while, because CFA was having issues with the local Operator of one of the "old-fashioned" CFAs (the ones that are like Checkers/Rally, drive-through/outside seating only). They were basically giving the guy a chance to make BANK by running a much bigger CFA and he was happy running his little ****hole CFA. Eventually, CFA...ironed it out. There's a new operator running the bigger CFA 100 yards to the east.

And for the record, I just drove over to my brother's house the other day...AND BOJANGLES IS MAKING A COMEBACK. They are building a brand-new Bojangles across the street and just down the road from their original location in Sanford. Glad to see that Jose is fixing things at Bojangles.
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I feel sorry for whoever chooses to live in Altamonte Springs.
 
AlphaMarshan said:
I'm OTP but to your first point... ehhhhhhh okay maybe not as bad as LA/Miami/NYC lol but there's still some of that, especially in Alpharetta.

And absolutely concur to the 2nd part, a lot of the women I know make more than the guys.
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I love ATL. it is my ideal city if we were ever to leave Florida. its got a mix of both city and suburban, higher average income than anywhere in Florida, and actual seasons and not this bull**** we like to claim is paradise when tis really 94 and sticky year round
 
hoops156 said:
I love ATL. it is my ideal city if we were ever to leave Florida. its got a mix of both city and suburban, higher average income than anywhere in Florida, and actual seasons and not this bull**** we like to claim is paradise when tis really 94 and sticky year round
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Just moved to Florida. I don’t like the cold so I’m ok with the heat but we will see how I feel in a few more years. I’m originally from Alabama and have always lived in the south so I’m used to humidity and all that. Not having at least some cool down in fall or winter will be interesting but my ol ladies family lives up north so we can always go up there if we want a break from the heat .
 
BeastMode said:
Just moved to Florida. I don’t like the cold so I’m ok with the heat but we will see how I feel in a few more years. I’m originally from Alabama and have always lived in the south so I’m used to humidity and all that. Not having at least some cool down in fall or winter will be interesting but my ol ladies family lives up north so we can always go up there if we want a break from the heat .
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the cool down is what I miss the most. the NE gets hot as **** too in the summer but there is a cool down and a winter to give you a break. the best cool down we have is 1 day of 65
 
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