It?s really easy to figure out which franchises are 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 one or more of them.
Not only have you any idea who they are, you likely have been in many of them so many times you know exactly what they have to offer. purima , in other words, have succeeded wildly in branding their products. What are they?
Franchise restaurants, needless to say. Anybody borne after 1955 probably cannot remember a world in which McDonald?s didn?t exist, and they were only the beginning. In case you 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 choosing a restaurant franchise with food already familiar and which can keep the customers returning, the odds are definitely on the side of the franchise restaurant.
The Pros and Cons
There are, of course, 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; whilst having a franchise restaurant may ease some of the concerns, there are several realities you have to face before you start.
First, investing in a franchise restaurant can be quite expensive; they can include actually purchasing 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 should have the advantage 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 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 long hours at your franchise restaurant; as a franchisee you should have certain standards, both service and financial, to maintain, and you will be giving regular reports to your franchisor. If 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 chances of succeeding with a well-established franchise restaurant are much better than they would be in any other business you could start.