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 air, and cannot drive by way of a shopping center anywhere in the US without passing a number of of them.
Not only do you know who they are, you have probably been in some of them so many times you know exactly what they need to offer. These franchises, basically, have succeeded wildly in branding their products. What exactly are they?
Franchise restaurants, of course. Anybody borne after 1955 probably cannot remember a global in which McDonald?s didn?t exist, plus they were only the beginning. When you are one of the thousands of people thinking about breaking away from the nine-to-five routine and starting your own business, you could do much worse when compared to a franchise restaurant.
Why? Because given buffet à volonté 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 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 make a profit; whilst having a franchise restaurant may ease some of the concerns, there are several realities you have 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’ll build your operation. You could be able to get help with your financing from the franchisor, and banks also realize 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 benefit 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 info 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 should have certain standards, both service and financial, to keep up, and you’ll be giving regular reports to your franchisor. For those who 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 can make it hard to help keep employees for extended periods. Restaurant employee turnover is incredibly high. But if you as well as your family are willing to provide you with the elbow grease, your chances of succeeding with a well-established franchise restaurant are much better than they would be in any business you could start.