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 through a shopping center anywhere in the US without passing one or more of them.
Not only have you any idea who they are, you have probably been in a number of them so many times you know exactly what they have to offer. These franchises, in other words, have succeeded wildly in branding their products. What exactly are they?
Franchise restaurants, needless to say. Anybody borne after 1955 probably cannot remember a world in which McDonald?s didn?t exist, plus they were only the beginning. For anyone who is 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 decision of trying to set up a loyal customer base for a new, unfamiliar product of your own choosing, and going with a restaurant franchise with food already familiar and which can 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 sort. Only those people who have a genuine love for the business enterprise usually stick with it long enough to produce a profit; while having a franchise restaurant may ease a number of the concerns, there are some realities you have to face before you start.
First, buying a franchise restaurant can be extremely expensive; they are able to include actually purchasing the land on which you’ll build your operation. You may be able to get help 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 will have the advantage of selling only those foods which are proven moneymakers, in order to limit your inventory, which will be ordered from the parent company?s preferred suppliers. You as well as your company?s other franchisees in the area can share the costs of joint advertising. For more info 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 will have certain standards, both service and financial, to keep, and you’ll be giving regular reports to your franchisor. Should you have personnel shortages, your household members must fill the gaps.
Crèmerie can almost depend on having personnel problems; low pay and unchallenging work can make it hard to help keep employees for extended periods. Restaurant employee turnover is extremely high. But if you as well as 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.