34:40Mah, chain owners make a lot of money if they're not dumb
34:41Better to just give away Legos to schools.
34:41sounds like a really wide butthole of a scheme
34:41less risk in franchising
34:45this is kinda a niche one imo too
34:46Brand name recognition and potentially other support.
34:46not a pyramid. You don't look for 2 more guys to lease
34:47This one is a scam... but they're supposed to help you succeed
34:48licensing the name, yes
34:48gives you a known name to start out with
34:48Much lower risk than starting your own business
34:49There are (supposed) to be more governing laws on a franchise. But yeah.
34:49because Branding is power in the market
34:49They get more business from the brand to make up for money lost
34:49Modern day scheme/scams
34:51Yes thank you lame people
34:51Most of the big name stores you come across in the wild are franchisees
34:51BAM franchises were making money before this kafuffle
34:51its a turn key system for making money
34:53Not basically. Explicitly. That is the point.
34:53yes, that's the point
34:53You pay for their advertising and reputation basically
34:53theres less personal risk
34:53Name recognition means more trust to walk right in, more sales, better odds than going it alone. Some have plenty of benefits as well.
34:53Established brand and reputation.
34:54depends on contract. some you just have to pay a flat rate so anything more is pure profit. or you pay a percentage
34:54It has the built in business infrasturcture which is 60% of running a buisness
34:54More people will go to a franchise than Joe's Lego's
34:55the branding and advertising help alone are significant, not to mention processes and procedures
34:56Buying access to a brand