If you have always dreamed of owning your own restaurant but just don't feel you have the experience required, a restaurant franchise may be the perfect answer for you. Here's a look at four benefits of choosing a franchise rather than starting from scratch.
You Will Have A Ready Customer Base
Even if you are opening a franchise in a brand-new expansion territory, chances are the prospective customers in your area have already tasted the product when traveling or have at least heard of the chain. This means when you do open your doors, there will be no shortage of people ready to come in and enjoy an old favorite or check out what you are all about.
Additionally, if it is a restaurant that serves food most people typically enjoy, you'll have even more demand. For example, a pizza restaurant franchise opportunity is a good bet as virtually no one dislikes good pizza.
Restaurant Franchises Tend To Be Very Successful
If you have always wanted a restaurant, you have likely heard they have a high failure rate, with figures as high as a 90 percent failure rate in the first year. This is a persistent myth as the figures are not that high. However, after three years, approximately 60 percent have indeed closed their doors. This isn't dramatically different than any other business in a different industry sector, but it is alarming nonetheless. Franchise success rates vary, of course, but when was the last time your favorite franchise suddenly closed its doors?
Restaurant Franchises Will Train You
For the would-be restaurant owner who doesn't have a lot of experience, a franchise is ideal. This is because the company will completely train you in what you need to know to be a successful franchise. They will provide you with hands-on training to ensure you will represent their brand and everyone will enjoy the fruits of your efforts.
Restaurant Franchises Offer Ongoing Support
One of the scariest things about opening your own independent restaurant is everything is on you. Marketing and advertising, which is expensive, falls to you. Creating a logo and other marketing collateral is your responsibility. Developing and promoting your brand in on you. Creating new and innovative products is also your responsibility.
Questions about how to do something? You won't have a dedicated support assistant to call. It's no wonder so many restaurants do eventually fail. With a franchise, you will always have corporate support just a phone call away. The corporation will take care of product development and marketing.