It?s really easy 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 by way of a shopping center anywhere in the US without passing one or more of them.
Not only do you know who they are, you have probably been in many 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, of course. Anybody borne after 1955 probably cannot remember a world in which McDonald?s didn?t exist, and they were only the beginning. If you are one of the millions of people thinking about breaking away from the nine-to-five routine and starting your personal business, you could 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 own choosing, and going with a restaurant franchise with food already familiar and proven to keep the customers returning, the odds are definitely on the side of the franchise restaurant.
The Pros and Cons
There are, needless to say, big risks in starting a restaurant of any kind. Only those who have a genuine love for the business enterprise usually stick with it long enough to produce a profit; whilst having a franchise restaurant may ease a few of the concerns, there are a few 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 could be able to get help with your financing from the franchisor, and banks also recognize 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, 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 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 will have certain standards, both service and financial, to keep up, and you will be giving regular reports to your franchisor. Assuming Cours MAPAQ 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 other business you could start.