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 a number of of them.
Not only do you know who they are, you likely have been in many 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 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 establish a loyal customer base for a new, unfamiliar product of your 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, 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 generate a profit; whilst having a franchise restaurant may ease some of the concerns, there are a few realities you have to face before you start.
First, buying a franchise restaurant can be quite expensive; they can include actually purchasing the land on which you will build your operation. You may be able to get help together with your financing from the franchisor, and banks also recognize that a restaurant franchise is probably 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, to help you limit your inventory, which is ordered from the parent company?s preferred Grillades portugaises . You as well as your company?s other franchisees in the area can share the expenses of joint advertising. For more info see http://www.startfranchisehelp.com/Franchise_Broker/ on Franchise Broker.
On the downside, be ready for long 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. In case you have personnel shortages, your household 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 extremely 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 other business you could start.