It?s really not hard to figure out which franchises are 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 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 exactly are pâtes ?
Franchise restaurants, needless to say. Anybody borne after 1955 probably cannot remember a world in which McDonald?s didn?t exist, and they were only the beginning. In case you are 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 going with 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 usually stay with it long enough to create a profit; whilst having a franchise restaurant may ease a few of the concerns, there are several realities you must face before you start.
First, investing in a franchise restaurant can be very expensive; they are able to include actually buying 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 realize that a restaurant franchise is one of the less risky small 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 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 long 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. For those who have personnel shortages, your household members must fill the gaps.
You can almost depend on having personnel problems; low pay and unchallenging work can make it hard to keep employees for extended periods. Restaurant employee turnover is incredibly high. But if you and 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 business you could start.