Brands Have Power
Given the choice, a consumer will almost always eat at an establishment with familiar branding, rather than at a restaurant they’ve never heard of. When they walk through the door, they want to know what they can expect for their hard-earned money. So if you haven’t already earned a reputation for a menu of delicious food, as well as great and efficient table service, you’ve got a high hurdle to jump over. This is why so many entrepreneurs prefer to invest in a food restaurant franchise instead of going it alone. They’re able to immediately tap into a loyal customer base that’s already been established for them by their parent company. It could be argued that this is more advantageous in the restaurant industry than any other.
Going it Alone Would be Far Riskier
Before you consider starting up your own independent restaurant, consider one question – wouldn’t it be far easier if you had a verified restaurant franchise business model to guide you? The answer is yes. Not having a fully formed plan or adequate support is the reason many new ventures fail. But with a franchise, you’ll be able to follow in the footsteps of a company that’s proven it’s methods succeed over the course of many years in the industry. Making your chances of achieving profits far higher.
There’s No Substitute for Specialist Support
Running a restaurant is a complex operation. As the owner, many demands will be placed upon you. You must have the proper insurance and certificates, a website where your customers can make bookings, a marketing strategy, and much more. If you invest in a franchise, you’re guaranteeing yourself support and guidance with all of the above. You’ll also benefit from your parent company’s relationships with suppliers of vital ingredients – get great discounts!
A restaurant franchise allows any entrepreneur to start up a new business under the umbrella of another brand’s established trademark and trade name. In exchange for this, they pay an initial fee and make regular royalty payments, as well as follow the guidelines set by their parent company.
Want to know how to buy a restaurant franchise? Before you can even start that process, you need to narrow down what you’re looking for. Think about the kind of establishment you’re interested in running. This will determine the number of hours you’ll likely have to work each day, as well as how many members of staff you’ll need to recruit, train, and employ in order to successfully run your operation. Once you’ve done this, you can begin to look through franchise opportunities and compare what they offer to your list of requirements.
When you come across a franchise for sale that’s appealing, don’t rush in. Note down the brand name for later reference, and continue to do this until you have a list of possibilities. To get a clear idea of what benefits each option will give you, you’ll need to research them all properly. Check online reviews from their clients – do they cook quality meals? Do they have a reputation for good customer service? Don’t forget, as a franchisee you’ll inherit the current standing and prestige of your parent company. You need to ensure that this is an advantage, not a disadvantage.
After you’ve settled on a single brand, reach out to them. You should know that the standard response to any franchise enquiry is a detailed digital information pack. Read through it carefully and decide if you want to proceed. If you do, your franchisor will invite you to meet them in-person. Called a ‘Discovery Day’, this meeting will give both you and the franchisor a chance to get to know each other. Bear in mind that you will be asked about your background at this time – whether you need to have previous experience in the restaurant sector will vary from brand to brand. If you pass this appraisal, the company will connect you with current franchisees so you can get a better idea of what it’s like to work within their network.
Supposing that you complete each of the phases described above, you’ll be able to sign your franchise agreement. Once you’ve done so, you’ll be expected to complete a period of training, identify a suitable property where you can establish your outlet, and recruit an appropriate amount of staff. When you’re operational, you’ll be obliged to adhere to the stipulations in your contract. This will likely include a need to serve a set menu and use specific suppliers. Moving forward, you’ll be able to reach out to your franchisor at any time for guidance and support.
Everyone loves to eat out. But it’s expensive. So when they decide to do so, consumers want to have the best possible experience. Meaning a great menu, speedy delivery of their meal, as well as an impeccable level of service that’s beyond reproach. You’ll need to bear all of this mind if you plan to make the most of the business opportunities this sector presents you with. But what else are successful restaurateurs doing that you should be aware of?
Many prosperous enterprises have taken great pains to ensure the visibility of their outlet, as well as the convenience of the location for their customers. Would you want to eat in a restaurant that you couldn’t easily find, or park nearby? What’s more, they know the importance of digital marketing. Today, there’s no better way to get your restaurant noticed than an aggressive social media campaign. Accordingly, digital marketing companies are often enlisted to aid this process.
Of equal importance is the growing demand for more varied options that cover a wide range of dietary requirements. As the years go by, more and more consumers are becoming sensitive to how what they eat affects their body. As a result, when they enter an establishment they take the time to carefully consider what is on offer. Are there meals for vegetarians? Is there an option for a vegan? If a given restaurant doesn’t have these choices, they risk isolating certain groups, and therefore reducing the size of their overall customer base. Which is something that could eventually lead to financial failure.
Now you’re aware of what’s leading to profits in the industry, you’ll be able to recognise the right restaurant franchise opportunity when you see it.
Banks Prefer Franchises
There are many different financial factors that independent entrepreneurs have to consider when they’re contemplating starting their own business in the restaurant sector. This includes, but isn’t limited to, the cost of permanent premises, staff wages, and the continued supply of necessary ingredients. In many cases, these large demands result in the collapse of a new enterprise within just two years. It’s for this reason that many investors such as banks prefer not to provide any financing for these endeavours. Wondering why it’ll be different for you?
Once you’ve settled on a franchise business for sale that you’d like to invest in, you can present your detailed plan to a bank complete with the restaurant franchise business model you plan to follow. The proven track record of the brand you wish to partner with, in conjunction with the overall viability of franchising in general, will encourage them to agree to your financing request.
Your Franchisor Will Arrange Training for You
Well-structured training is vital – if you decide to take a restaurant franchise opportunity you’ll be enlisted in an all-inclusive training programme. In this sector, this will usually entail work experience at one of your parent company’s successful establishments for a number of days. This will allow you to get the lay of the land and truly comprehend everything that’ll be required of you.
You Won’t Have to Plan Your Marketing Alone
Even if you’re someone with experience in digital and physical marketing, it’s unlikely you’ll have the time to utilise your talents after your food restaurant franchise is operational. But there’s no need to worry, the majority of franchisors agree to aid their franchisees with both pre and post-launch marketing as part of their contract. It’s also important to realise that the methods they use will be tried and tested.
Chop & Wok give its customers a taste of authentic Asian flavours.
The Punch Pubs & Co network consists of over 1300 pubs.
Bella Italia is a restaurant chain that specialises in delivering authentic Italian recipes – pastas, pizzas, and more.
One Fine Dine offers a new and innovative way to provide a full and authentic fine dining experience at a specific venue, or even in a customer’s home.
The Martson’s enterprise is made up of over one thousand individual pubs.
Bavarian Beerhouse offers all-inclusive franchise opportunities to owners of bars and restaurants.
Founded in 2013, Italian wine bar company Veeno is known for its elegant establishments, in which both genuine Italian wine and food are served.
Thai Express is a chain of highly successful restaurants. The brand has become known for its quick service, and the remarkable authentic Thai flavours it offers to consumers.
Crepe Delicious is a growing network of creperies that provides a premium healthy fast food option to consumers in multiple countries.