It?s really not hard to figure out 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 one or more of them.
Not only do you know who they are, you have probably been in many of them so many times that you know exactly what they need to offer. These franchises, put simply, have succeeded wildly in branding their products. What exactly are dessert ?
Franchise restaurants, needless to say. Anybody borne after 1955 probably cannot remember a world in which McDonald?s didn?t exist, plus they were only the beginning. For anyone who is one of the thousands of people thinking about breaking from the nine-to-five routine and starting your personal business, you can do much worse than 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 proven to keep the customers coming back, the odds are definitely privately of the franchise restaurant.
The Pros and Cons
There are, of course, big risks in starting a restaurant of any kind. Only those who have a genuine love for the business usually stay with it long enough to produce a profit; while having a franchise restaurant may ease some of the concerns, there are a few realities you should face before you start.
First, investing in a franchise restaurant can be very expensive; they are able to 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 probably the less risky small businesses, so may be willing to give you favorable terms.
On the positive side, you will 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 suppliers. You and your company?s other franchisees in the area can share the costs of joint advertising. For more information 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’ll be giving regular reports to your franchisor. Assuming you have personnel shortages, you and your family 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 incredibly 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 much better than they would be in any business you could start.