It?s really easy to determine which franchises will be 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 a number of of them.
Not only do you know who they are, you have probably been in many of them so many times you know exactly what they need to offer. These franchises, basically, 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, plus 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 can do much worse when compared to a franchise restaurant.
Why? Because given the decision of trying to set up a loyal customer base for a fresh, unfamiliar product of your choosing, and going with a restaurant franchise with food already familiar and proven to keep the customers returning, the odds are definitely on the side of the franchise restaurant.
pizzeria and Cons
There are, needless to say, big risks in starting a restaurant of any sort. Only those people who have a genuine love for the business usually stick with it long enough to generate a profit; while having a franchise restaurant may ease some of the concerns, there are a few realities you should face before you start.
First, buying a franchise restaurant can be extremely expensive; they can include actually buying the land on which you will build your operation. You may well be able to get help with your financing from the franchisor, and banks also recognize that a restaurant franchise is one of the less risky smaller 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, in order to limit your inventory, which will be ordered from the parent company?s preferred suppliers. You as well as your company?s other franchisees in the area can share the costs of joint advertising. For more information see http://www.startfranchisehelp.com/Franchise_Broker/ on Franchise Broker.
On the downside, be ready for extended hours at your franchise restaurant; as a franchisee you will have certain standards, both service and financial, to keep up, and you will be giving regular reports to your franchisor. For those who have personnel shortages, your household members must fill the gaps.
You can almost count on having personnel problems; low pay and unchallenging work will 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 supply 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.