4 ms·
He wasn't gifted anything. The article is loosely worded but what happened was that first he invested 3 months of his time (while holding other jobs to support
by kjksf 6y ago
He wasn't gifted anything.
The article is loosely worded but what happened was that first he invested 3 months of his time (while holding other jobs to support himself) into Winchell's training program.
Winchell is a franchise of donut shops. I don't know what the deal was back then, but today "Winchell's has a franchise fee of up to $0, with a total initial investment range of $3,400 to $44,700"
https://www.franchisegrade.com/franchises/winchell-s https://www.franchisegrade.com/franchises/winchell-s
His first donut shop was a Winchell franchise. A franchise is not a gift. He had to work hard, make the business profitable and pay back portion of the profits back to Winchell.
He became rich by extremely hard work, saving all his profits and re-investing them into opening more donut shops.
- rbrtl 6y agoAnd working his kids extremely hard, without even managing to feed them...
- 93po 6y agoFind me a place in 2020 that will give you a significant part of a franchise's profits with zero experience and three months of training. And find me a franchise that will give me enough profit to buy a house with cash after only two years. And find me a franchise that I can buy with a few months of savings. None of these exist in 2020 and virtually anyone in 2020 would consider this series of events akin to winning the lottery. It's unheard of and preposterous.