It?s really easy to figure out which franchises will be 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 united states without passing one or more of them.
Not only do you know who they are, you likely have been in some of them so many times that you know exactly what they must offer. These franchises, in other words, have succeeded wildly in branding their products. What exactly are buffet à volonté ?
Franchise restaurants, needless to say. Anybody borne after 1955 probably cannot remember a world 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 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 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 privately 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 usually stay with it long enough to generate a profit; whilst having a franchise restaurant may ease some of the concerns, there are several realities it is advisable to face before you start.
First, investing in a franchise restaurant can be very expensive; they can 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 realize that a restaurant franchise is one of 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, to help you limit your inventory, which is 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 ready for extended hours at your franchise restaurant; as a franchisee you will have certain standards, both service and financial, to keep, and you’ll 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 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.