It?s really easy to figure out which franchises are the most successful. You see them advertised on television and on billboards, hear them advertised on the radio, and cannot drive by way of a shopping center anywhere in the US without passing one or more of them.
Not only do you know who they are, you have probably been in some of them so many times you know exactly what they have to offer. These franchises, in other words, have succeeded wildly in branding their products. What exactly are they?
Franchise restaurants, of course. Anybody borne after 1955 probably cannot remember a global where McDonald?s didn?t exist, and they were only the beginning. If you are one of the thousands of people thinking about breaking from the nine-to-five routine and starting your own business, you can do much worse than a franchise restaurant.
Why? Because given the decision of trying to establish a loyal customer base for a fresh, unfamiliar product of your own choosing, and choosing a restaurant franchise with food already familiar and which can keep the customers coming back, the odds are definitely on the side of the franchise restaurant.
The Pros and Cons
There are, needless to say, big risks in starting a restaurant of any sort. Only those people who have a genuine love for the business enterprise usually stick with it long enough to make a profit; while having a franchise restaurant may ease some of the concerns, there are several realities you should face before you start.
First, investing in a franchise restaurant can be extremely expensive; they are able to include actually purchasing the land on which you’ll build your operation. You may well be able to get help together with your financing from the franchisor, and banks also recognize that a restaurant franchise is among the less risky smaller businesses, so may be willing to give you favorable terms.
On the positive side, you will have the advantage of selling only those foods which are proven moneymakers, to help you limit your inventory, which will be ordered from the parent company?s preferred suppliers. You as well as your company?s other franchisees in your community can share the costs of joint advertising. For more info see http://www.startfranchisehelp.com/Franchise_Broker/ on Franchise Broker.
On the downside, be prepared for long hours at your franchise restaurant; as a franchisee you will have certain standards, both service and financial, to keep up, and you’ll be giving regular reports to your franchisor. For those who have personnel shortages, you and your family members will have to fill the gaps.
You can almost count on having personnel problems; low pay and unchallenging work will make it hard to keep employees for extended periods. Restaurant employee turnover is incredibly high. But if you as well as your family are willing to provide you with the elbow grease, your likelihood of succeeding with a well-established franchise restaurant are much better than they would be in any other business you could start.