It? pizzeria to determine 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 US without passing a number of of them.
Not only have you any idea who they are, you have probably been in a number of them so many times that you know exactly what they need 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 world where McDonald?s didn?t exist, plus they were only the beginning. For anyone who is one of the thousands of people thinking about breaking away from the nine-to-five routine and starting your personal business, you could 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 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, needless to say, 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 generate 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, buying a franchise restaurant can be extremely expensive; they are able to include actually buying the land on which you will build your operation. You might be able to get help with your financing from the franchisor, and banks also recognize that a restaurant franchise is among the less risky smaller businesses, so may be willing to give you favorable terms.
On the positive side, you should have the advantage 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 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 prepared for long hours at your franchise restaurant; as a franchisee you will have certain standards, both service and financial, to keep up, and you’ll be giving regular reports to your franchisor. Assuming 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 can 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 supply the elbow grease, your likelihood of succeeding with a well-established franchise restaurant are much better than they would be in any business you could start.