It? Shish Taouk 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 a number of of them.
Not only do you know who they are, you have probably been in some of them so many times that you know exactly what they have to offer. These franchises, basically, have succeeded wildly in branding their products. What exactly are they?
Franchise restaurants, needless to say. Anybody borne after 1955 probably cannot remember a global in which McDonald?s didn?t exist, plus they were only the beginning. For anyone who is one of the millions 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 the decision of trying to set up a loyal customer base for a fresh, 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 privately of the franchise restaurant.
The Pros and Cons
There are, of course, 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 create a profit; whilst having a franchise restaurant may ease some of the concerns, there are a few realities you should face before you start.
First, investing in a franchise restaurant can be quite expensive; they can include actually purchasing the land on which you’ll build your operation. You may well be able to get help together with your financing from the franchisor, and banks also realize 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 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 the area 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 keep up, and you’ll be giving regular reports to your franchisor. When you have personnel shortages, you and your family members must fill the gaps.
You 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 incredibly 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.