It?s really easy to figure out which franchises will be the most successful. purima see them advertised on television and on billboards, hear them advertised on the air, 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 must 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 global where McDonald?s didn?t exist, plus they were only the beginning. When you are one of the thousands of people thinking about breaking away from the nine-to-five routine and starting your personal business, you can do much worse when compared to a franchise restaurant.
Why? Because given the choice of trying to establish a loyal customer base for a fresh, 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 privately of the franchise restaurant.
The Pros and Cons
There are, needless to say, big risks in starting a restaurant of any kind. 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 some realities you must 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 well be able to get help with your financing from the franchisor, and banks also realize that a restaurant franchise is probably 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, so you can limit your inventory, which will be ordered from the parent company?s preferred suppliers. You and your company?s other franchisees in the area can share the expenses 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 maintain, and you’ll be giving regular reports to your franchisor. In case you have personnel shortages, you and your family members will have to fill the gaps.
You can almost count 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 as well as your family are willing to provide you with the elbow grease, your chances of succeeding with a well-established franchise restaurant are much better than they would be in any business you could start.