It?s really easy 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 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 some of them so many times you know exactly what they must offer. These franchises, put simply, have succeeded wildly in branding their products. What 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. In case you are one of the millions 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 own choosing, and going with a restaurant franchise with food already familiar and which can keep the customers returning, 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 who have a genuine love for the business enterprise usually stick with it long enough to make a profit; whilst having a franchise restaurant may ease a few of the concerns, there are several realities it is advisable to face before you start.
First, buying a franchise restaurant can be quite expensive; they are able to include actually purchasing the land on which you’ll build your operation. You could be able to get help with your financing from the franchisor, and banks also recognize that a restaurant franchise is among the less risky small businesses, so may be willing to give you favorable terms.
On the positive side, you should have the advantage 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 your community 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 up, and you will be giving regular reports to your franchisor. For those who have personnel shortages, you and your family members will need to 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 purima and 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.