It’s new beginnings for Inverness businessman Iain Fyfe who has just become the new owner of McDonald’s in Nairn.
The 33-year-old has made history by becoming the youngest McDonald’s franchisee in Scotland.
It’s a complete change of career for the dad-of-two who had previously been head of operations for a facilities management company based in Dubai for nine years.
But Mr Fyfe had always wanted to run his own business and the McDonald’s opportunity was too good to turn down.
McDonald’s opportunity to fulfil ambition
He said: “It had been a long-term dream to run my own business and from a very young age I’d been thinking of some ideas.
“Over time I started looking into franchising as a different option and there was a clear market leader in McDonald’s.”
Mr Fyfe first started the application process in 2019 but was hit with delays due to Covid-19.
But he finally became the new owner of the Balmakeith Retail Park based business on June 6 2022.
Mr Fyfe didn’t want to disclose how much he’d paid to become a franchisee but it costs anywhere between £350k to £1.85m to start up a McDonald’s, with 25% being paid upfront.
He said: “Essentially every restaurant is valued differently. A small restaurant as part of one of the supermarkets would be completely different to a high street one.
“It’s all based on the value of the restaurant and you need to have 25 per cent of the value of the restaurant as unencumbered funds.”
‘Unchartered territory’
Mr Fyfe, married to Sarah, had nine months of intensive training with McDonald’s, learning everything from how to make the brand’s signature burgers to how to operate management systems.
He will now work alongside his other 50 members of staff on a full-time basis.
He said: “The restaurant only opened in December 2019 and has had a stop-start life as there’s been lots of restrictions due to Covid.
“This is the first year it will get a free run.
“It’s unchartered territory to see how it’ll perform.
“It is a big change going from the corporate world into the restaurant business but I did a nine-month training programme to acclimatise me to the change of business.
“I took a leap of faith by leaving my job, as I didn’t know which area I would be offered a restaurant in.
“When I was told it would be Nairn I was delighted, not only because it means my family can stay in our hometown, but also because Nairn is special to us.
“I’m very much looking forward to it.”
Cost of living crisis can’t be ignored
Mr Fyfe is well aware the cost of living crisis is not something to be ignored and the effect it will be having on his customers.
He said: “We see our unique selling point in that we are very affordable and won’t budge on it during the cost of living crisis.
“We are looking to not match the inflation costs you are seeing across the board and stay true to that value for money proposition we have.”
Living out a dream
Ms Fyfe, mum to three-year-old Amelie and 11-month-old Isabella, said: “I’m so happy for him to see the dream that he’s had for such a long time come to fruition.
“We didn’t know where we would be living, so to be so close to the family is amazing. We couldn’t have asked for a better location.”
The restaurant will be raising funds throughout the year for the Ronald McDonald House Charities and a local charity to be announced shortly.
Conversation