It is difficult to compete in the restaurant industry. Many think that opening a restaurant is an easy way to make some money. If you really want more chance of success with a restaurant, the best thing you can do is buy a restaurant franchise.
Here are several reasons for you to consider a franchise:
1. There is already brand recognition.
As a consumer, would you spend your money on a brand that you've never heard of before? Not all consumers are willing to eat at an unknown restaurant.
Consumers are very brand loyal. If given a choice, they will stick to a name that they recognise and have tried.
2. You are given full support.
A franchise owner puts a great deal of effort into making sure that the brand name maintains a good image. If you invest in a restaurant franchise, you will be given helpful tips for success. You will also be provided with the necessary tools to help make your franchise more profitable. If you buy a restaurant franchise, you will never completely be on your own.
3. You will not have to spend on advertising.
You need to pay for certain monthly fees when you franchise a restaurant. A portion of these fees is often used for advertising campaigns. These campaigns are released on a national scale. Of course, franchises can also opt to do their own advertising on a local level.
4. You and your staff are trained.
It is likely that a franchise owner has a lot of experience in handling a restaurant. A branch will probably be open for at least half a year before opening another store. You and your staff will surely be given full training regarding all aspects of running the business.
If you were to open a restaurant on your own, this would not be the case. You would have to worry about providing the proper training for your crew. This would be especially difficult if you have not been trained yet either.
5. You are given experience.
Before you formally open your franchise, you and your staff will most likely be asked by the main corporation to work in another branch for a few days. By doing this, you and your crew will be exposed to what actually happens once those store doors open.
6. There is quality control.
A franchise owner already has established relationships with various suppliers. At this point, studies should have been conducted to ensure that materials and products meet the standards expected of them by the public. An independent restaurant owner will need to build relationships with suppliers from scratch.
7. It is easier to obtain financing.
An average person will probably need financing from a bank. Opening a franchise of an established brand should be very easy because banks are already familiar with the brand name. The main corporation should be able to provide the banks with a detailed and well-researched business plan. You should have no problem obtaining financing with both experience and the necessary paperwork to back you up.