It?s really easy to determine which franchises are the most successful. You see them advertised on television and on billboards, hear them advertised on the radio, and cannot drive through a shopping center anywhere in the united states without passing a number of of them.
Not only have you any idea who they are, you have probably been in many of them so many times that you know exactly what they have to offer. These franchises, put simply, have succeeded wildly in branding their products. What exactly are they?
Franchise restaurants, needless to say. Anybody borne after 1955 probably cannot remember a global where McDonald?s didn?t exist, and they were only the beginning. Should you be one of the thousands of people thinking about breaking 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 choice of trying to set up a loyal customer base for a new, unfamiliar product of your choosing, and going with a restaurant franchise with food already familiar and proven to keep the customers coming back, the odds are definitely privately of the franchise restaurant.
Club sandwich and Cons
There are, needless to say, big risks in starting a restaurant of any kind. Only those who have a genuine love for the business usually stick with it long enough to produce 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 quite expensive; they can include actually buying the land on which you’ll build your operation. You might be able to get help with your financing from the franchisor, and banks also realize that a restaurant franchise is probably the less risky smaller 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, so you can 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 information 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, and you will be giving regular reports to your franchisor. Should you have personnel shortages, your household members will have 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 and your family are willing to provide you with the elbow grease, your chances of succeeding with a well-established franchise restaurant are better than they would be in any business you could start.