It?s really not hard to figure out 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 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 a number of them so many times you know exactly what they have to 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 where McDonald?s didn?t exist, plus they were only the beginning. For anyone who is one of the thousands of people thinking about breaking away from the nine-to-five routine and starting your personal business, you can do much worse than 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 choosing a restaurant franchise with food already familiar and which can keep the customers returning, 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 sort. Only those who have a genuine love for the business usually stay with it long enough to create a profit; while having a franchise restaurant may ease some of the concerns, there are some realities you need to face before you start.
First, investing in a franchise restaurant can be very 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 among the less risky smaller businesses, so may be ready to give you favorable terms.
On purima , you will have the advantage 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?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 prepared for long hours at your franchise restaurant; as a franchisee you will have certain standards, both service and financial, to maintain, and you will 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 depend on having personnel problems; low pay and unchallenging work can make it hard to help keep employees for extended periods. Restaurant employee turnover is extremely 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 other business you could start.