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 US without passing a number of of them.
Not only do you know who they are, you have probably been in some of them so many times you know exactly what they need to offer. These franchises, quite simply, have succeeded wildly in branding their products. What exactly are they?
Franchise restaurants, needless to say. Anybody borne after 1955 probably cannot remember a world where McDonald?s didn?t exist, and they were only the beginning. When you are one of the millions 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 fresh, unfamiliar product of your own choosing, and choosing 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.
The Pros and Cons
There are, needless to say, big risks in starting a restaurant of any sort. Only those who have a genuine love for the business usually stick with it long enough to create a profit; whilst having a franchise restaurant may ease some of the concerns, there are a few realities you have to face before you start.
First, investing in a franchise restaurant can be quite expensive; they can include actually purchasing the land on which you will build your operation. You could be able to get help with your financing from the franchisor, and banks also realize that a restaurant franchise is among the less risky small businesses, so may be ready to give you favorable terms.
On the positive side, you will have the advantage of selling only those foods which are proven moneymakers, to help you limit your inventory, which is ordered from the parent company?s preferred suppliers. You as well as your company? Maquillage in your community 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 long 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. For those who have personnel shortages, you and your family members will have to 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 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 business you could start.