More and more, anyone who has a desire to open a small business of their own are finding that opening a restaurant franchise is quite profitable. It is predicted that restaurant sales will reach $577 billion in sales by 2010. The restaurant business industry now 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.
Restaurant thai have already been satisfying the hunger of people for ages, and restaurant franchising is just about to increase 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 junk food establishments. They will have sophisticated tastes and the money to make their ideas possible. They demand fresher ingredients, healthier dishes, and vegetarian options. Baby boomers are credited with setting the pace for what does and doesn?t work in terms of successful restaurants. When they dine out they want high quality, no matter where they are eating.
More and more people are holding full time jobs, leaving little time to get ready meals at home. Quick serve restaurants continue being fueled by the buyer?s ever increasing dependence on convenience. More than half of most adults say they’re busy, and convenience is really a critical section 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 rush and want fast service. This sparks the growing dependence on 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 identifies franchising two or more different brands in one location (Taco Bell, Pizza Hut, & Kentucky Fried Chicken). All three are housed in one building, instead of building three different restaurants. These restaurants are responsible for more than 29,000 restaurants, and more are popping up at all times. 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 helped with their popularity in other countries.
Whether you are selling sandwiches over the sea, or have an upscale dining establishment uptown. The outlook looks strong for food franchising within the next ten years. So long as consumers continue steadily to eat at restaurants, the franchise opportunity is a gainful one.