chising
re
aware of what works and what doesn’t and this knowledge is passed down to its franchisees. There will be competition with small businesses; a lot of people have their own private restaurants. Once given a tentatively location, a franchisee may want to seek out and consider the direct competition. That being said, a lot of private restaurants fail, while franchises have a proven track record. Either way, location is the fundamental key to restaurant success. High traffic areas for restaurants allow more and more people to take advantage of the services. A franchisor can usually pinpoint a place of interest and help establish a proper venue in the right place.
“The food and drink industry reached over 745 billion US dollars in 2015 and there are over 600,000 restaurants across the country.�
If you have a passion for cooking and creativity, a restaurant franchise may not suit your personal needs. Since this industry depends on brand and consistency, it is usually expected to follow the menu exactly, ensuring that all product remains the same across the board. Being involved in the process would help for success and being well-knowledge in the restaurant and food industry would provide opportunity within the business but it will not help ignite any creative flames. The restaurant franchise comes with a large investment fee. Due to all the necessary equipment and the construction of the facility itself, there are a lot of financials to cover before getting the
Franchising USA
food fr anchising fe at u r e - pa rt 1
Page 31