Which industry has been the most widely influenced by franchising? Food service. After all, food business opportunities benefit tremendously from the standards set by franchising, which make it easier to scout profitable locations, train effective employees and prepare popular food. Franchises also make it easier to make money, as a parent company can offer you unprecedented financial and operational support, as well as:
1. Instant name recognition.
2. Marketing assistance.
3. Group purchasing power.
4. Business training and education.
5. Help navigating food codes and zoning laws.
Action Steps
The best contacts and resources to help you get it done
Decide if a food franchise is right for you
Before you begin shopping for food and beverage franchising opportunities, you must ask yourself one very fundamental question: Is franchising right for me?I recommend: Before you commit to franchising, investigate the pros and cons with information from industry associations such as the International Franchise Association and the American Franchisee Association.
Learn how restaurant franchises operate
Before committing to a food franchise, consider shadowing a current franchisee. You'll need several weeks in the kitchen and in the dining room before you know if the restaurant business is right for you.I recommend: Study up on the restaurant business by subscribing to free newsletters from Restaurant Business Magazine and VirtualRestaurant. Then, find existing franchisees and potential mentors in your area by searching the American Association of Franchisees & Dealers’ Franchise Association Registry.
Shop for restaurant franchises by cost
Food franchises often require large initial investments, but food and beverage franchising opportunities come in all shapes and sizes, and all price points, too.I recommend: On sites like FranchiseDirect, America’s Best Franchises and FoodFranchise.com, you can browse restaurant franchise opportunities by investment requirements.
Shop for food franchises by service model
There are three basic types of restaurant franchises: quick-service franchises, full-service franchises and-somewhere in between-fast-casual franchises.I recommend: Find quick-service and fast-casual restaurant franchises in QSR Magazine’s Franchise Expo. Entrepreneur.com’s Franchise Zone features a directory of both quick-service food franchises and full-service restaurant franchises.
Shop for restaurant franchise opportunities by food type
American. Chinese. Italian. Indian. Mexican. Consumers love many types of cuisine, and so do restaurateurs. If you've got a taste for something special, consider choosing a food franchise based upon its menu.I recommend: Visit FranchiseGator, Franchising.com or USFranchiseNews’ Franchise Directory to browse food and beverage franchising opportunities by the fare they serve.
Shop for food business opportunities by location
Not all restaurant franchises are available nationwide. Which food franchises are available to you may depend largely upon where you live and where you intend to do business.I recommend: Look for food business opportunities in your area at Franchise Solutions, RestaurantFranchise.com or RestaurantBizOps, where you can find existing restaurants for sale and also scout local business real estate.
Shop for restaurant franchises by name
Perhaps the single greatest advantage to franchising is the instant name recognition it offers. If you already have a food franchise in mind, approach the franchisor directly for information.I recommend: Request information about specific food franchises by name at BizBuySell then look for them on Entrepreneur.com’s Franchise 500 list and at Franchise Business Review, which rates franchises by franchisee satisfaction. Don’t have any particular franchises in mind? Visit Find the Right Franchise to see what opportunities are right for you.
Tips & Tactics
Helpful advice for making the most of this Guide
- Funding a new food franchise is often made easier thanks to food-friendly lenders, which are familiar with the needs of food business opportunities as well as their potential for success.
- In the food franchise business, foods and beverages rule the roost-and the bottom line. Net profits may suffer due to common restaurant pitfalls, including fluctuating food costs, spoilage and theft.
- New to foodservice? Consider food and beverage franchising opportunities that rely on ready-to-serve products.
- The restaurant industry is strictly regulated by food codes and permits. Study up on local, state and federal foodservice standards before you open for business.
the Food Franchises page at Business.com
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