It?s really not hard 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 through a shopping center anywhere in the united states without passing one or more 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 have 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 global where McDonald?s didn?t exist, and 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 can do much worse than a franchise restaurant.
Why? Because given the decision of trying to establish a loyal customer base for a new, unfamiliar product of your own choosing, and choosing a restaurant franchise with food already familiar and which can keep the customers coming back, 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 stay with it long enough to create a profit; whilst having a franchise restaurant may ease a number of the concerns, there are a few realities you have to face before you start.
First, investing in a franchise restaurant can be extremely expensive; they can include actually buying the land on which you will build your operation. dessert 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 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 that you can limit your inventory, which is 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 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. If you have personnel shortages, you and your family members will have to 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 as well as your family are willing to supply the elbow grease, your likelihood of succeeding with a well-established franchise restaurant are better than they would be in any business you could start.