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 radio, and cannot drive by way of a shopping center anywhere in the united states without passing one or more of them.
Not only do you know who they are, you have probably been in a number of them so many times that 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, of course. Anybody borne after 1955 probably cannot remember a global in which McDonald?s didn?t exist, plus they were only the beginning. If 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 fresh, unfamiliar product of your own choosing, and choosing 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 sort. Only those people who have a genuine love for the business enterprise usually stick with it long enough to produce a profit; while having a franchise restaurant may ease a number of the concerns, there are several realities you should face before you start.
First, investing in a franchise restaurant can be very expensive; they can include actually purchasing the land on which you will build your operation. You could be able to get help together with your financing from the franchisor, and banks also realize that a restaurant franchise is one of the less risky smaller businesses, so may be willing to give you favorable terms.
On the positive side, you will have the advantage of selling only those foods which are proven moneymakers, to help you limit your inventory, which will be ordered from the parent company?s preferred suppliers. You and your company?s other franchisees in your community can share the expenses 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 up, and you will be giving regular reports to your franchisor. When you have personnel shortages, you and your family members will need 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 extremely high. But if you 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.