Key Steps to Owning a Restaurant Franchise
For people considering buying a restaurant franchise there are a wide range of opportunities. The key steps towards owning a food franchise are as follows.
Evaluation
Before taking any other steps towards buying a food franchise it will be useful for you to first evaluate your skills and interests. You should ask yourself what it is that interests you about owning a food franchise and decide what type of restaurant you would like to manage. It is beneficial to consider your existing skills and judge how they will fit best in the available franchising opportunities. While running a restaurant franchise does have many advantages it can involve a lot of hard work and may not be suitable for everybody. At this stage it is also useful to look at your financial situation and set a budget for how much you can afford to invest.
Investigate Franchise Opportunities
In the UK there is a huge range of food franchises available to buy. Well known examples of restaurant franchises include wok2go, subway and perfect pizza. Having assessed your skills, interests and finances it should be possible to narrow down this choice into a selection of franchises that are suitable for you. With the choice narrowed down you should conduct more in depth research into each franchise.
Market Research
Having narrowed down the choice of franchises the next stage is to carry out some research in to the levels of demand for the franchise’s products and so likely profits. There are a number of things to consider here including location and amount of competition. It may be that a franchise’s products will be very popular in some locations but not so popular in other places. Also if there is a lot of competition in a particular area then it is likely that profits will be affected. Other factors to consider is demand for the product in the long term and if sales are seasonal or if demand will be constant throughout the year.
Secure Finance and Invest
Most franchises will require their franchisees to make quite a substantial initial investment and it is likely that many people buying a franchise will need to take out some kind of loan. Fortunately money lenders tend to view franchises quite favourable so obtaining finance may be easier than would be the case if starting another type of new business. Some franchisors will offer their own in-house financing. With the finance secured you are free to invest in your chosen franchise.
Attend Training and Set Up Business
Having made your investment the final step is to get your restaurant ready for business. Things you will need to do here include hiring staff, buying supplies and setting up your location. Many franchises offer training as part of the investment and so for many franchisees the first step after buying their franchise is to attend a training course. Typically this course will be designed to teach the franchisee everything they need to know to run the business successfully.
Rich Bendall
http://www.articlesbase.com/business-opportunities-articles/key-steps-to-owning-a-restaurant-franchise-627693.html
english assignment dream job?
have to write a 4-6 minute speech about the dream job this is the criteria
my dream job is to work in McDonald’s
1.job title and detailed description
2.revel ant qualifications
3.places of employment
4.personality and personal skills/abilities required
5.physical skills/abilities required
6.your suitability for the job and an explanation as to why this your dream job
My dream job is to own my own franchise at McDonalds Who had dreamt about owning his own business since I was a little kid, first considered the option owning McDonald’s franchisee about 8 years ago. My dream slowly became reality when, , i began the process of opening my own store. "I thought it might be an interesting opportunity for me to take that wouldn’t be so risky.” i had worked for 3 years with a Fortune 100 company, serving in several management positions in the technical, operations and training aspects of the bottling and canning business. When he started looking into what type of business he’d like to invest in, i looked for one that would allow him to use his past management experience in the food industry and make him a part of what he felt was a winning team.” I’m used to working with a company that’s No. 1 in their field, and McDonald’s is," . "I wanted to stay No. 1, to be a leader in the industry.” While going through franchise training with McDonald’s, i did have some fears about going out on his own, but many of those were quickly dispelled. "When you step out there kind of by yourself, you’re a bit hesitant, "I found McDonald’s very supportive through the initial start-up, and that took my fear away.” I opened my store in brisbane in January 2008. i want to employ about 41 full- and part-time employees, and works five to six days a week on the day-to-day operations of the store and on different community activities. The hard work and dedication is what i feel makes it possible for anyone to have a successful franchise.” If somebody really wants to be involved in the business on a day-to-day basis, McDonald’s is a good opportunity," because this is a lot more work than people think.” i believe it’s possible for a regular person to open his or her own McDonald’s? "Yes, I do believe a regular person can open a McDonald’s restaurant,” I believe if you want something bad enough, you can make it happen.” McDonald’s is the world’s leading food service organization. We generate more than $40 billion in System wide sales. We operate over 30,000 restaurants in more than 100 countries on six continents. We have the benefits that come with scale and a strong financial position. We own one of the world’s most recognized and respected brands. We have an unparalleled global infrastructure and competencies in restaurant operations, real estate, retailing, marketing and franchising. We are a leader in the area of social responsibility. We actively share our knowledge and expertise in food safety and are committed to protecting the environment for future generations. Yet, we have not achieved our growth expectations for the past several years. So, our challenge is to leverage our strengths to profitably serve more customers more ways more often. I am suitable for this position in the fast food industry because I demonstrate these important qualities. I believe I have many skills to offer in particular that I am a very honest and reliable individual who is highly motivated and thrives on challenges. This would be an asset as I would be able to deal with fast flowing customers. I consider myself to be a very hard worker who always gives my best and maintains high standard in all situations. I have good sense of humour and can work well in a team environment as well as alone minimal supervision. I can also communicate with other people and can make change correctly and quickly. This would ensure that the customers would be satisfied with services that I offer them. My interpersonal and communication skills enable me to easily establish rapport with a wide range of people from diverse backgrounds and age groups. I have excellent listening skills with the ability to be receptive to the ideas and needs of my employer. I deem myself to be an open and honest individual, who is highly reliable and confident with all tasks I undertake.
Therefore I believe I would be an asset to this industry because I have many skills to offer and I enjoy working in this industry as I am motivated and strive to help and learn from others. Even though I have no experience working in the fast food industry, I’m willing to work hard and try to succeed to the best of my ability as I’m progressing throughout my career. My goal is to be manager one day and run my own franchise.
Edit that huge entry that you had already put down. And you got yourself a speech.
References :