What you will find if you carry our some basic research is that most of the successful businesses today are franchises. What this allows, for example in the restaurant franchise sector, is the total replication of a successful business in another location thereby removing much of the risk.
Therefore, the foundations are already laid, the groundwork has been done and you have a business ready-to-go, with instant name recognition and built-in marketing. However, it is still essential to do some research on the business you are interested in, to ensure that you are familiar with the product or service being franchised and that you have seen how it is being implemented.
In the franchising sector, perhaps the most popular and successful are restaurant franchises. More than half of all restaurants in the United States are part of a franchise family and they account for around three-quarters of the revenue for the industry. Walk down any high street or visit any mall and you will always find at least one, often several, restaurant franchises.
Restaurant franchises have shown themselves to be recession proof and there are many different opportunities to choose from. These include pizza, burger, fried chicken and other fast foods, healthy eating franchises, sandwich bars, coffee houses and many more.
Those companies evolved successful strategies by working on their customers needs and by asking for feedback, usually in the form of little survey slips on tables. So what you see today is the result of that work.
So to find out if a restaurant franchise is going to suit you, list up the pros and cons. What will it mean for you ? How much is it going to cost and how soon will you recover that? Or can you resell it later on? (much easier than selling your independent restaurant). Are you prepared to put in the hours?
There is no need to worry about start-up costs for advertising as your restaurant franchise will already benefit from name recognition. However, in return for these advantages, you will have to invest a considerable amount of money. You will also have to pay royalties to head office. This covers advertising/publicity and any support provided to you. You should also appreciate that, in order to provide the same level of quality service and continuity at each restaurant franchise location, you will have no say in the menu or decor of your business.
There will be rules to be followed, such as uniforms, seating plans and signage, so if you are a creative person with a themed concept in mind, then maybe restaurant franchising isnt for you. However, if you are looking for a low-risk, profitable and ready established business, than a restaurant franchise could be just up your street! - 2364
Therefore, the foundations are already laid, the groundwork has been done and you have a business ready-to-go, with instant name recognition and built-in marketing. However, it is still essential to do some research on the business you are interested in, to ensure that you are familiar with the product or service being franchised and that you have seen how it is being implemented.
In the franchising sector, perhaps the most popular and successful are restaurant franchises. More than half of all restaurants in the United States are part of a franchise family and they account for around three-quarters of the revenue for the industry. Walk down any high street or visit any mall and you will always find at least one, often several, restaurant franchises.
Restaurant franchises have shown themselves to be recession proof and there are many different opportunities to choose from. These include pizza, burger, fried chicken and other fast foods, healthy eating franchises, sandwich bars, coffee houses and many more.
Those companies evolved successful strategies by working on their customers needs and by asking for feedback, usually in the form of little survey slips on tables. So what you see today is the result of that work.
So to find out if a restaurant franchise is going to suit you, list up the pros and cons. What will it mean for you ? How much is it going to cost and how soon will you recover that? Or can you resell it later on? (much easier than selling your independent restaurant). Are you prepared to put in the hours?
There is no need to worry about start-up costs for advertising as your restaurant franchise will already benefit from name recognition. However, in return for these advantages, you will have to invest a considerable amount of money. You will also have to pay royalties to head office. This covers advertising/publicity and any support provided to you. You should also appreciate that, in order to provide the same level of quality service and continuity at each restaurant franchise location, you will have no say in the menu or decor of your business.
There will be rules to be followed, such as uniforms, seating plans and signage, so if you are a creative person with a themed concept in mind, then maybe restaurant franchising isnt for you. However, if you are looking for a low-risk, profitable and ready established business, than a restaurant franchise could be just up your street! - 2364
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Are you all to run your own restaurant franchise? This fact-packed 22 page report gives you inside information you need to know to select the right one for you. Make the right choices now and benefit greatly down the line.
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