It?s really easy to figure out 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 through a shopping center anywhere in the US without passing a number of of them.
Not only have you any idea who they are, you have probably been in some of them so many times you know exactly what they have to offer. These franchises, basically, have succeeded wildly in branding their products. What 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. If Poulet portugais are one of the thousands of people thinking about breaking away from the nine-to-five routine and starting your own 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 new, unfamiliar product of your choosing, and going with a restaurant franchise with food already familiar and proven to keep the customers returning, the odds are definitely on the side 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 produce a profit; whilst having a franchise restaurant may ease a few of the concerns, there are several realities you need to face before you start.
First, buying a franchise restaurant can be quite expensive; they can include actually buying the land on which you’ll build your operation. You might be able to get help together with your financing from the franchisor, and banks also recognize that a restaurant franchise is probably the less risky small businesses, so may be ready to give you favorable terms.
On the positive side, you will have the benefit of selling only those foods which are proven moneymakers, so that you can 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 prepared for extended hours at your franchise restaurant; as a franchisee you will 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, your household members must 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 better than they would be in any other business you could start.