In the sea of investment strategies, there are a lot of options to choose from. Everywhere you turn there is another article about where to invest your hard earned money. Why not choose an investment that also allows you to be your own boss now, instead of later?
What type of investment is that? A fast food hamburger franchise.
For those who already have some capital together, and have the entrepreneurial bug, a hamburger franchise can be a great idea. I know what you’re thinking.
“Isn’t it hard to open a food franchise?”
Maybe not as difficult as you think. Here are five reasons why investing in a hamburger franchise is easier than you think.
Tried and Tested
As a food franchise owner, you get to join a company that has already been tested in the marketplace. This is one of the biggest hurdles that new restaurants face. I know you’ve heard the stats. Sixty percent of new restaurants fail. Why?
It’s hard to get customers to try something new. So why would you want to open a food franchise? Because a fast food franchise is really not “new”.
You are joining a proven system and are mitigating your risk. Your hamburger franchise already comes with brand recognition and a built-in clientele. So you don’t have to worry about introducing a “new concept” to the marketplace. Customers will view your franchise as a trusted friend. Your get to capitalize off a brand that is already successful and established – all without having to put in the years it may have taken to build that trust with a with a completely new brand.
Need Funds? Smoother Path to Financing Approval
Most people looking to open a business will need some type of a loan from the bank, especially if you are thinking of opening a restaurant. Banks look more favorably on giving loans to those who are buying a fast food franchise over those who are opening a start up restaurant. Why? When you invest in a franchise, that brand’s already established locations are a great indicator of your future success. The Franchisor can provide you with accurate estimates of sales figures, costs and timelines. The bank looks at these numbers favorably when deciding on who to lend money to. Therefore, lenders consider a franchise as more of a “sure bet” than a new start up.
Access to a Blueprint
A food franchise comes with a “blueprint” – a proven formula that is handed directly over to you. There is a plan, strategies, actions to take and more. You will be provided a list of things to buy, a breakdown of how many employees you will need, a vendor list, recipes, menu, decor suggestions. All of the costly market research is taken out of the process. You don’t have to wonder if the product is good. You can simply go into an already established location and try it out for yourself. You don’t have to decide what color scheme will best resonate with customers. That’s already done. A hamburger franchise is a turnkey operation. Once you invest, you will receive training and access to proven formulas. There is no need to reinvent the wheel. This saves a lot of time and worry.
Inevitably, there will be questions along the way of owning your own business. Luckily, when you purchase a fast food franchise, there is a support team available to answer your questions. They have already been where you are, and can offer the support you need when questions arise. The franchisor can offer marketing assistance, location assistance, or even answer operations questions. Hiring challenges? Point of sale machine acting up? What is a point of sale machine, anyway? Your franchisor can assist. A built in support team is worth its weight in gold when starting a business. You can take full advantage of that with a food franchise.
Take advantage of established branding. Branding is a huge aspect of business. People feel more comfortable spending their money with businesses that are already established. When you invest in a franchise, you are taking advantage of an established brand. Your restaurant’s name, logo, and menu are already known to clients in the surrounding area. This makes it easier to capture customers. Even if they haven’t already tried your business, customers are more likely to come in and try when your brand is established in the marketplace.
At the end of the day there are a lot of options vying for your hard earned dollars. If you want to be your own boss and are looking for a good investment – a hamburger franchise may be the route for you. A hamburger franchise is really a perfect marriage – you get to take advantage of America’s favorite food while leveraging the popularity of an established brand to create your ideal future.