It?s really easy to determine which franchises will be the most successful. You 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 US 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 you know exactly what they need to offer. These franchises, put simply, 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, and they were only the beginning. When you are one of the millions of people thinking about breaking away from the nine-to-five routine and starting your own business, you can do much worse than a franchise restaurant .
Why? Because given the choice of trying to establish a loyal customer base for a new, unfamiliar product of your own choosing, and going with a restaurant franchise with food already familiar and proven to keep the customers returning, 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 people who have a genuine love for the business enterprise usually stay with it long enough to produce a profit; whilst having a franchise restaurant may ease some of the concerns, there are several realities you need to face before you start.
First, investing in a franchise restaurant can be extremely 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 together with your financing from the franchisor, and banks also recognize that a restaurant franchise is one of the less risky smaller businesses, so may be ready 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 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 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 should have certain standards, both service and financial, to keep, and you’ll be giving regular reports to your franchisor. For those who have personnel shortages, your household members must fill the gaps.
You can almost count on having personnel problems; low pay and unchallenging work can 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 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.