More and more, anyone who has a desire to open a business of their own have found that opening a restaurant franchise is very profitable. It really 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 america. That comes to about 11 million people, and makes them the largest employer next to the government.
Restaurants have been satisfying the hunger of people for ages, and restaurant franchising is just about to increase the growth of the. 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.
Baby boomers (people born between 1946 and 1964) tend to be the folks opening new restaurants and junk food establishments. They will have sophisticated tastes and the amount of 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 when it comes to successful restaurants. When they dine out they want top quality, no matter where they’re eating.
Increasing numbers of people are holding regular jobs, leaving little time to get ready meals at home. Quick serve restaurants continue being fueled by the consumer?s ever increasing dependence on convenience. More than half of most adults say they’re busy, and convenience is really a critical part of their lives.
While viennoiserie demand quality, younger customers want convenience. 55% of consumers between your ages of 25 and 34 admit they are usually in a hurry and want fast service. This sparks the growing need for quick service restaurants. Takeout restaurants are also a growing trend. 78% of all households in america use remove or delivery service at least one time a month. These people consider themselves very value conscious.
Many investors are buying into co-branded franchises. Co-branding refers to franchising two or more different brands in a single location (Taco Bell, Pizza Hut, & Kentucky Fried Chicken). All three are housed in one building, instead of building three different restaurants. These restaurants have the effect of more than 29,000 restaurants, and much more are popping up continuously. Additionally, there are multiple franchising concepts with Dunkin Donuts and Baskin Robbins in exactly 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 contributed to 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.