It?s really easy to figure out which franchises will be the most successful. You see them advertised on television and on billboards, hear them advertised on the air, and cannot drive through a shopping center anywhere in the US without passing one or more of them.
Not only have you any idea who they are, you have probably been in many of them so many times that you know exactly what they must offer. These franchises, in other words, have succeeded wildly in branding their products. What are they?
Franchise restaurants, of course. Anybody borne after 1955 probably cannot remember a world where McDonald?s didn?t exist, and they were only the beginning. In case you are one of the millions of people thinking about breaking away from the nine-to-five routine and starting your own business, you can do much worse than a franchise restaurant.
Why? Because given the choice of trying to set up a loyal customer base for a new, 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 privately 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 enterprise usually stay with it long enough to make a profit; whilst having a franchise restaurant may ease a few of the concerns, there are several realities you must face before you start.
First, buying a franchise restaurant can be extremely expensive; they can include actually purchasing the land on which you will build your operation. You could be able to get help together with your financing from the franchisor, and banks also realize that a restaurant franchise is among the less risky small businesses, so may be willing to give you favorable terms.
On the positive side, you will have the benefit of selling only those foods which are proven moneymakers, so that 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 expenses of joint advertising. For more info 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 should have certain standards, both service and financial, to maintain, and you will be giving regular reports to your franchisor. When you 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 keep employees for extended periods. Restaurant employee turnover is extremely high. But if Restaurant thai as your family are willing to supply 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.