It?s really easy to determine which franchises are 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 US without passing a number of of them.
Not only have you any idea who they are, you likely have been in many of them so many times that you know exactly what they must offer. These franchises, basically, have succeeded wildly in branding their products. What 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. For anyone who is one of the millions of people thinking about breaking from the nine-to-five routine and starting your own business, you can do much worse when compared to a franchise restaurant.
Why? Because given the choice of trying to set up 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 people who have a genuine love for the business usually stick with it long enough to produce a profit; whilst having a franchise restaurant may ease some of the concerns, there are several realities you must 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 could be able to get help with your financing from the franchisor, and banks also recognize that a restaurant franchise is probably the less risky smaller businesses, so may be willing to give you favorable terms.
On the positive side, you should 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 purima 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 maintain, and you’ll be giving regular reports to your franchisor. For those who 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 incredibly high. But if you and your family are willing to provide you with the elbow grease, your chances of succeeding with a well-established franchise restaurant are much better than they would be in any business you could start.