Is it hard to establish a food franchise?
Just like how the founders of McDonald’s, KFC, Subway made there idea’s successful. How would i do this? I want it to be a descent Restraunt chain like Franky and Benny’s, or Bennigans. Is it hard to establish your own food chain? I am not on about opening one individual family restraunt. I want it to go international and have locations around the world. Is it hard to do this? Could someone please tell me the best way of going about this? I am in year 10 and i am doing my GCSE’s.
If you BUY in to a franchise, it is simple… It just requires the payment of the franchise fee to the corporation.
To make a small business into a franchise, you have to work your a*s off.
MOST restaurants don’t last 2 years… Go wander around your town and look at how many of the places have changed ownership or names since you moved there…
Keeping a place open on its own long term is a hard thing to do… Let alone making that one location popular enough to justify expanding to a 2nd location is SUPER SUPER hard.
Plan on dedicating your existence to the pursuit of keeping your business open… Plan on spending 160 hours a week at the location… Doing Taxes… Payroll… Supplies… Cleaning… Inspections…
See it as getting married to a building… And she will demand that you spend ALL your time worshiping her and caring for her.
Yes, it is hard. Almost all franchises started out as a one restaurant operation. You need to make that restaurant successful first, which gives you the capital to open the second restaurant. Once you have a certain level of success and you have perfected the marketing, menu, theme, etc., then you can look to franchise.
References :
If you BUY in to a franchise, it is simple… It just requires the payment of the franchise fee to the corporation.
To make a small business into a franchise, you have to work your a*s off.
MOST restaurants don’t last 2 years… Go wander around your town and look at how many of the places have changed ownership or names since you moved there…
Keeping a place open on its own long term is a hard thing to do… Let alone making that one location popular enough to justify expanding to a 2nd location is SUPER SUPER hard.
Plan on dedicating your existence to the pursuit of keeping your business open… Plan on spending 160 hours a week at the location… Doing Taxes… Payroll… Supplies… Cleaning… Inspections…
See it as getting married to a building… And she will demand that you spend ALL your time worshiping her and caring for her.
References :
In order to have international locations and a worldwide chain, you have to start with one business first.
Additionally, you have to keep in mind that there are not only laws for starting a franchise in the United States, but internationally as well. These laws could be very different. I would suggest talking to someone skilled in franchising to help with all of these issues you could run into.
References :
http://www.johnsonfranchiselaw.com/