It?s really not hard to figure out which franchises are 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 a number of of them.
Not only do you know who they are, you likely have been in some of them so many times you know exactly what they must offer. These franchises, basically, have succeeded wildly in branding their products. What are they?
Franchise restaurants, of course. Anybody borne after 1955 probably cannot remember a world where McDonald?s didn?t exist, and they were only the beginning. In case you are one of the thousands 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 decision of trying to establish a loyal customer base for a fresh, unfamiliar product of your choosing, and choosing 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 usually stick with it long enough to produce a profit; while having a franchise restaurant may ease a number of the concerns, there are a few realities you should face before you start.
First, investing in Déjeuner can be extremely expensive; they are able to include actually purchasing the land on which you will build your operation. You may 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 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, so that you can limit your inventory, which will be ordered from the parent company?s preferred suppliers. You and your company?s other franchisees in the area can share the costs of joint advertising. For more information 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 will be giving regular reports to your franchisor. Assuming you have personnel shortages, your household members must 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 and your family are willing to provide you with the elbow grease, your likelihood of succeeding with a well-established franchise restaurant are better than they would be in any other business you could start.