More and more, those who have a desire to open a small business of their own are finding that opening a restaurant franchise is very profitable. It really is predicted that restaurant sales will reach $577 billion in sales by 2010. Céramique café employs 8% of all workers employed in the United States. That comes to about 11 million people, and makes them the largest employer next to the government.
Restaurants have already been satisfying the hunger of people for ages, and restaurant franchising is around to add to the growth of the industry. In 1950, Colonel Harlan Sanders introduced his Kentucky Fried Chicken franchise and built a chain of over 600 restaurants by 1960. McDonalds was franchised in 1955, therefore were House of Pancakes, Tastee Freeze, Dairy Queen, and Dunkin Donuts.
Seniors (people born between 1946 and 1964) are often the folks opening new restaurants and fast food establishments. They will have sophisticated tastes and the amount of money to make their ideas possible. They demand fresher ingredients, healthier dishes, and vegetarian options. Seniors are credited with setting the pace for what does and doesn?t work with regards to successful restaurants. When they dine out they want top quality, no matter where they’re eating.
Increasing numbers of people are holding regular jobs, leaving little time to prepare meals in the home. Quick serve restaurants continue being fueled by the consumer?s ever increasing dependence on convenience. More than half of all adults say they are busy, and convenience is really a critical part of their lives.
While older consumers demand quality, younger customers want convenience. 55% of consumers between your ages of 25 and 34 admit they are usually in a hurry and want fast service. This sparks the growing need for quick service restaurants. Takeout restaurants may also be a growing trend. 78% of most households in the usa use take out or delivery service at least once a month. These people consider themselves very value conscious.
Many investors are buying into co-branded franchises. Co-branding refers to franchising two or more different brands in one location (Taco Bell, Pizza Hut, & Kentucky Fried Chicken). All three are housed in one building, rather than building three different restaurants. These restaurants have the effect of more than 29,000 restaurants, and more are popping up constantly. Additionally, there are multiple franchising concepts with Dunkin Donuts and Baskin Robbins in the same building.
Some franchisors take their products overseas. Subway has nearly 800 international franchises (not counting Canada). In the event that you add Canada they number around 2,000. How big is the company has contributed to their popularity far away.
Whether you’re selling sandwiches over the sea, or have an upscale dining establishment uptown. The outlook looks strong for food franchising in the next ten years. So long as consumers continue steadily to eat at restaurants, the franchise opportunity will be a gainful one.