More and more, anyone who has a desire to open a business of their own are finding 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 most workers employed in the United States. That comes to about 11 million people, and makes them the largest employer next to the government.
Restaurants have been satisfying the hunger of individuals for a long time, and restaurant franchising is around to add to 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, and so were House of Pancakes, Tastee Freeze, Dairy Queen, and Dunkin Donuts.
Seniors (people born between 1946 and 1964) are often the folks opening new restaurants and junk food establishments. They have sophisticated tastes and the money to make their ideas possible. They demand fresher ingredients, healthier dishes, and vegetarian options. Seniors are credited with setting the pace for what does and doesn?t work in terms of successful restaurants. If they dine out they want top quality, no matter where they are eating.
More and more people are holding full time jobs, leaving little time to prepare meals at home. Quick serve restaurants continue being fueled by the buyer?s ever increasing need for convenience. More than half of all adults say they are busy, and convenience is a critical section of their lives.
While older consumers demand quality, younger customers want convenience. 55% of consumers between your ages of 25 and 34 admit they are usually in a rush and want fast service. This sparks the growing need for quick service restaurants. Takeout restaurants may also be a growing trend. 78% of all households in the United States use take out or delivery service at least once a month. These folks consider themselves very value conscious.
Many investors are buying into co-branded franchises. Co-branding identifies franchising several different brands in a single location (Taco Bell, Pizza Hut, & Kentucky Fried Chicken). All three are housed in a single building, instead of building three different restaurants. restaurant grill are responsible for more than 29,000 restaurants, and much more are popping up constantly. There are also 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). If 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 across the sea, or have an upscale dining establishment uptown. The outlook looks strong for food franchising within the next ten years. Provided that consumers continue steadily to eat at restaurants, the franchise opportunity will be a gainful one.