It?s really not hard 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 united states without passing a number of of them.
Not only do you know who they are, you likely have been in a number of them so many times that you know exactly what they must offer. These franchises, in other words, 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, plus they were only the beginning. When you are one of the thousands of people thinking about breaking 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 choice of trying to set up 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 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 usually stick with it long enough to make a profit; while having a franchise restaurant may ease a number of the concerns, there are some realities you should face before you start.
First, investing in a franchise restaurant can be extremely expensive; they can include actually purchasing the land on which you’ll build your operation. You might 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 willing to give you favorable terms.
On the positive side, you will have the benefit of selling only those foods which are proven moneymakers, so you can limit your inventory, which is ordered from the parent company?s preferred sous-marins . You and 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 prepared for extended hours at your franchise restaurant; as a franchisee you should have certain standards, both service and financial, to maintain, and you will be giving regular reports to your franchisor. In case you have personnel shortages, your household members will need to fill the gaps.
You can almost count on having personnel problems; low pay and unchallenging work will 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 other business you could start.