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 united states without passing one or more of them.
Not only have you any idea who they are, you have probably been in a number of them so many times you know exactly what they have to offer. These franchises, quite simply, have succeeded wildly in branding their products. What exactly are they?
Franchise restaurants, of course. Anybody borne after 1955 probably cannot remember a global in which McDonald?s didn?t exist, and they were only the beginning. When you are one of the thousands of people thinking about breaking from the nine-to-five routine and starting your own business, you could 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 which can keep the customers coming back, 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 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 are able to include actually purchasing the land on which you’ll build your operation. You may be able to get help with your financing from the franchisor, and banks also recognize that a restaurant franchise is among the less risky smaller 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 you can limit your inventory, which will be ordered from the parent company?s preferred suppliers. You and your company? Restaurant libanais in your community can share the expenses of joint advertising. For more information 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 maintain, and you’ll be giving regular reports to your franchisor. When you have personnel shortages, you and your family members must fill the gaps.
You can almost depend on having personnel problems; low pay and unchallenging work can make it hard to keep employees for extended periods. Restaurant employee turnover is extremely high. But if you as well as your family are willing to provide you with 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.