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 radio, and cannot drive through a shopping center anywhere in the US without passing a number of of them.
pizza have you any idea who they are, you have probably been in some of them so many times you know exactly what they must 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 world where McDonald?s didn?t exist, plus they were only the beginning. For anyone who is 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 choice of trying to set up a loyal customer base for a new, unfamiliar product of your choosing, and choosing a restaurant franchise with food already familiar and proven to 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 usually stay with it long enough to produce a profit; whilst having a franchise restaurant may ease a few of the concerns, there are some realities you need to face before you start.
First, investing in a franchise restaurant can be very expensive; they are able to 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 among the less risky small businesses, so may be ready to give you favorable terms.
On the positive side, you should have the advantage 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 as well as 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 long hours at your franchise restaurant; as a franchisee you will have certain standards, both service and financial, to keep up, and you will be giving regular reports to your franchisor. Should you have personnel shortages, you and your family members must 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 much better than they would be in any other business you could start.