forums

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

Status
Not open for further replies.
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.
Click to expand...
That's my CFA and it runs smooth as ****. The one on the other side of I4 by 1792 has the worst drive thru setup possible.
 
Advertisement
Boarcane said:
Hahahaha sorry your job sucks gator boy. 😂 I googled what you make. I spill more in booze 🥃 🐊 I hope you know the LB is a Cane
Click to expand...
Screenshot_20220720-191359_Samsung Internet.jpg
 
Advertisement
Advertisement
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...
Correct. They're not really owners. They've "operators" which is like a manager, but worse. They're tied into the company financially.

Similarly, FedEx ground sells trucks and routes to independents. Sounds really great, but people have to bust their *** delivering alot more packages to pay off the truck and earn a living since FedEx controls how much independents get paid per package. Their entire FedEx Ground operation is made up of independent contractor drivers.

IMO, these are just shady ways to get people locked in without paying them benefits as an employees. Kind of like sharecropping.
 
Number1CanesFan said:
Correct. They're not really owners. They've "operators" which is like a manager, but worse. They're tied into the company financially.

Similarly, FedEx ground sells trucks and routes to independents. Sounds really great, but people have to bust their *** delivering alot more packages to pay off the truck and earn a living since FedEx controls how much independents get paid per package. Their entire FedEx Ground operation is made up of independent contractor drivers.

IMO, these are just shady ways to get people locked in without paying them benefits as an employees. Kind of like sharecropping.
Click to expand...
That's mostly incorrect. Chick-fil-A operators have tons of freedom and average at least $500k a year in income if they're a free standing operator. They're not employees in any way.
 
Advertisement
Brian Dohn, one of the midwest national 247 guys posted on Canes board a brief article saying Bonsu is down to 3 schools: Miami, OSU and Mich State.

Safety Jayden Bonsu is close to a decision. So close he nearly announced his choice Wednesday before delaying it for what figures to be a few days.

The St. Peter's Prep prospect is down to Michigan State, Miami and Ohio State. He visited each of the schools and formed connections with the coaching staffs in each one.

However, each one also stood out in its own way.

"Michigan State, on my official visit, they showed a lot of love," the 6-foot-1, 210-pound Bonsu said. "My dad actually didn't come to the second day, but they made me feel family oriented even though I didn't have my parents with me. It felt good.

"I connected with my host well. It was Jalen Berger. He said nothing but good things from the school, and they have plans for me to play early."

Like with Berger, who played at Ramsey (N.J.) Don Bosco, Ohio State also had a New Jersey flavor in regards to a prospect spending time with Bonsu.

Buckeyes safety Ronnie Hickman played at Wyane (N.J.) DePaul. Safeties coach Perry Eliano also played a significant role in recruiting Bonsu.

"When coach Eliano came to Ohio State, I remember he came and visited me," Bonsu said. "Shortly after he came here I had a conversation with him and I was like, 'Yeah, this guy is real.' I could build something special with coach Aliano.

"After that, I took my unofficial and loved Ohio State. Loved the campus, the players, met with Ronnie Hickman. Coach Eliano said he should have a big season."

Miami hosted Bonsu on an official visit in early June, and he returned to campus at the end of the month for an unofficial visit.

"I like what coach (Mario) Cristobal is doing," he said. "I like the path they are on there with the new staff. Me and (secondary) coach (Jahmile) Addae connect well. We are both the same ethnicity (Ghana) so we hit it off quickly and on a deeper level. Miami has plans for me to play early."
 
Advertisement
Hoyacane1620 said:
Brian Dohn, one of the midwest national 247 guys posted on Canes board a brief article saying Bonsu is down to 3 schools: Miami, OSU and Mich State.

Safety Jayden Bonsu is close to a decision. So close he nearly announced his choice Wednesday before delaying it for what figures to be a few days.

The St. Peter's Prep prospect is down to Michigan State, Miami and Ohio State. He visited each of the schools and formed connections with the coaching staffs in each one.

However, each one also stood out in its own way.

"Michigan State, on my official visit, they showed a lot of love," the 6-foot-1, 210-pound Bonsu said. "My dad actually didn't come to the second day, but they made me feel family oriented even though I didn't have my parents with me. It felt good.

"I connected with my host well. It was Jalen Berger. He said nothing but good things from the school, and they have plans for me to play early."

Like with Berger, who played at Ramsey (N.J.) Don Bosco, Ohio State also had a New Jersey flavor in regards to a prospect spending time with Bonsu.

Buckeyes safety Ronnie Hickman played at Wyane (N.J.) DePaul. Safeties coach Perry Eliano also played a significant role in recruiting Bonsu.

"When coach Eliano came to Ohio State, I remember he came and visited me," Bonsu said. "Shortly after he came here I had a conversation with him and I was like, 'Yeah, this guy is real.' I could build something special with coach Aliano.

"After that, I took my unofficial and loved Ohio State. Loved the campus, the players, met with Ronnie Hickman. Coach Eliano said he should have a big season."

Miami hosted Bonsu on an official visit in early June, and he returned to campus at the end of the month for an unofficial visit.

"I like what coach (Mario) Cristobal is doing," he said. "I like the path they are on there with the new staff. Me and (secondary) coach (Jahmile) Addae connect well. We are both the same ethnicity (Ghana) so we hit it off quickly and on a deeper level. Miami has plans for me to play early."
Click to expand...
Cane
 
Yoyo82 said:
That's mostly incorrect. Chick-fil-A operators have tons of freedom and average at least $500k a year in income if they're a free standing operator. They're not employees in any way.
Click to expand...
They’re managing partners. They own NOTHING. They can be terminated and kicked to the curb at any moment. They make 200/240 a year. https://skillsandtech.com/chick-fil-a-franchisee/?amp=1 (Owners make $200,000 to $240,000 per year on average after considering annual fees. Chick-fil-A restaurants produce around $5.3 million in annual sales on average so between 5% – 7% of total sales will hit the bottom line after expenses.) It’s as good a job as being a Walmart store manager or being a managing partner of an outback steak house. It’s a good job, but they’re not owners and they make a good living.
 
Last edited:
Number1CanesFan said:
Correct. They're not really owners. They've "operators" which is like a manager, but worse. They're tied into the company financially.

Similarly, FedEx ground sells trucks and routes to independents. Sounds really great, but people have to bust their *** delivering alot more packages to pay off the truck and earn a living since FedEx controls how much independents get paid per package. Their entire FedEx Ground operation is made up of independent contractor drivers.

IMO, these are just shady ways to get people locked in without paying them benefits as an employees. Kind of like sharecropping.
Click to expand...
My buddy drives for FedEx and isn’t an independent contractor. He gets benefits, retirement and a boatload of overtime pay.
 
Status
Not open for further replies.
Advertisement
Back
Top