Why did I even bother applying to B School?

https://www.bizben.com/listings/140124.php

I'm not sure if the adjusted net includes an adjustment for managers. However, let's just say conservatively, worst case scenario, that you need 1 manager at each. They'd get paid $35,000 * 9 = $315,000. $1 million net.

This is an interesting one, as they have a package deal of 9 of them. They are commanding a 5.7x EBITDA multiple. Generally, businesses in this range go for 4-5x cash flow.

Ex: https://www.businessbroker.net/Business ... 51161.aspx

Obviously, this is a lot easier said than done. The financial modeling is the easy part -- actually operating them effectively is the challenge. You need a certain personality type to succeed at this -- that's why McDonalds requires their people to start at the bottom. I couldn't do food service personally, but congrats to those who can.

Truthfully, I think the reason that MBA's dont bother with ownership of these businesses/franchises is because they tend to own/create bigger things. If you have an MBA from a top 7 school and a solid general management track record, you could conceivably lead an investor-backed leveraged buyout of a much larger business and still hold a sizable equity stake.

The kind of people that buy a McDonald's franchise are generally not smart enough (or connected enough) to lead a PE-backed buyout of a $100M or $500M business and grow it -- this requires a lot of the financial and management expertise that they teach you in business school.