It?s really easy to figure out which franchises will be the most successful. Restaurant asiatique 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 united states without passing a number of of them.
Not only do you know who they are, you have probably been in many of them so many times you know exactly what they must 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 global in which McDonald?s didn?t exist, plus they were only the beginning. If you are one of the millions of people thinking about breaking away from the nine-to-five routine and starting your personal business, you can do much worse when compared to a franchise restaurant.
Why? Because given the decision of trying to set up a loyal customer base for a new, unfamiliar product of your own choosing, and going with 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 sort. Only those who have a genuine love for the business enterprise usually stick with it long enough to produce a profit; while having a franchise restaurant may ease a number of the concerns, there are some realities it is advisable to face before you start.
First, buying a franchise restaurant can be quite expensive; they are able to include actually buying the land on which you’ll build your operation. You may well be able to get help with your financing from the franchisor, and banks also realize that a restaurant franchise is probably the less risky small businesses, so may be willing to give you favorable terms.
On the positive side, you should have the benefit of selling only those foods which are proven moneymakers, in order to limit your inventory, which is ordered from the parent company?s preferred suppliers. You and your company?s other franchisees in your community 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 will be giving regular reports to your franchisor. If you have personnel shortages, your household members will need to fill the gaps.
You can almost depend on having personnel problems; low pay and unchallenging work will make it hard to help 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 much better than they would be in any business you could start.