It?s really not hard to determine which franchises are the most successful. You see them advertised on television and on billboards, hear them advertised on the air, and cannot drive through a shopping center anywhere in the US without passing one or more of them.
Not only do you know who they are, you likely have been in many 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 are they?
Franchise restaurants, needless to say. Anybody borne after 1955 probably cannot remember a world in which McDonald?s didn?t exist, plus they were only the beginning. Should you be one of the thousands of people thinking about breaking away from the nine-to-five routine and starting your own business, you could do much worse than a franchise restaurant.
Why? Because given the choice of trying to establish a loyal customer base for a fresh, unfamiliar product of your 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, of course, big risks in starting a restaurant of any kind. Only those who have a genuine love for the business enterprise usually stick with it long enough to make a profit; whilst having a franchise restaurant may ease a few of the concerns, there are several realities it is advisable to face before you start.
First, buying a franchise restaurant can be extremely expensive; they are able to include actually buying the land on which you will build your operation. pâtisserie may be able to get help with your financing from the franchisor, and banks also recognize that a restaurant franchise is probably the less risky smaller businesses, so may be ready to give you favorable terms.
On the positive side, you will have the benefit of selling only those foods which are proven moneymakers, so that you can limit your inventory, which will be ordered from the parent company?s preferred suppliers. You and your company?s other franchisees in the area can share the expenses of joint advertising. For more information see http://www.startfranchisehelp.com/Franchise_Broker/ on Franchise Broker.
On the downside, be ready for extended hours at your franchise restaurant; as a franchisee you should have certain standards, both service and financial, to keep up, and you’ll be giving regular reports to your franchisor. Should you 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 extremely high. But if you as well as your family are willing to supply the elbow grease, your chances of succeeding with a well-established franchise restaurant are better than they would be in any other business you could start.