Have you been looking to the future lately and wanting to make a big change? Have you always wanted to be your own boss, but worry about failing? The fast food industry is a great business to get involved in for many reasons.
Here are 11 practical reasons to invest in a fast food franchise:
1. There Is Always a Need for Fast Food
Even with more attention being paid to healthier living, there will always be a need for fast food. We all crave that burger and fries at some point, whether it is for a family treat on a Friday night or for a quick lunch during the work week. This is an area that will never be oversaturated.
The burger franchise especially draws in strong crowds. Zac’s Burgers is one of the best burger franchises to join because they really care about their franchisees and want them to succeed.
2. You Are Not Doing It Alone
One of the biggest incentives of choosing to invest in a fast food franchise is that you will have a support structure to help you get started. This is something you don’t have when you are opening a restaurant on your own. With a fast food franchise, the franchisor offers you training for you and your staff and will help you find your location and prepare for your grand opening. If you are new to the restaurant business, this is especially attractive.
3. You Get Brand Power
There are a lot of popular fast food franchises like Zac’s Burgers which is considered one of the best burger franchises out there. They have a strong brand that people immediately recognize. By choosing to go into the fast food franchise, you will benefit from sharing in the brand recognition.
4. There Is Still Room for Creativity
Although there is a definition structure and process to each fast food franchise, there are still opportunities for you to put your own personal stamp on your location. When you are researching and shopping around, make sure to ask what the rules and regulations are for each individual franchise. If some individual freedom is important to you, don’t sign on until you have the reassurances that you will have some creative control.
While certain foods are the staple of the food industry like burgers, chicken sandwiches, steak sandwiches and fries, there are a lot of ways you can spice things up to keep your customers interested. Add unlikely ingredients to your burger for an extra explosion of taste or if you sell burritos try wrapping up something people wouldn’t expect like sushi in a burrito.
5. Today’s Fast Food Franchises Are Evolving
As customer’s desires have changed, fast food restaurants are evolving to keep up. The days of heavily processed, cookie cutter dishes are over and fast food restaurants are exploring fresher ways to keep the customers coming back. The fast food world is definitely not passé.
6. Your Network of Mentors Gives You a Competitive Edge
Probably one of the greatest things about investing in a fast food franchise instead of creating your own restaurant from scratch is that you have expert advice at your fingertips. Not only the advice and experience of your franchisor and their executives, but also your fellow franchisees. They have been in the same exact spot as you and can share what has worked well for them and what roads not to go down.
7. Financial Help More Readily Available
Most people opening a restaurant whether an independent one or a fast food franchise are going to need a bank loan to get their business up and running. Today it is a lot harder to get a bank loan than it used to be, but luckily when you are backed by a proven successful brand and an experienced franchisor. And most likely your franchisor already has a long-standing relationship with a banker that you can benefit from.
8. Boosts Your Buying Power
Think about how much more buying power a national franchisor has compared to a small mom and pop shop. When you join a franchise system you will get to share in the national company’s buying power, giving you access to deals and discounts you wouldn’t otherwise be privy to.
9. More Availability to Innovation and Technology
Another practical reason to invest in a fast food franchise is the better access to innovation and technology. A successful franchisor is going to have the manpower and funds to devote to innovation and technology in ways you never could as an independent restaurant owner. They will be able to pass down to you new technology and new innovations that can improve your efficiency and help you better communicate with your customers and employees.
10. More Opportunities to Expand
Franchisors can also offer you more opportunities to expand because most of them try to encourage their successful franchisees to own multiple units. And they will help you every step of the way.
11. You Can Join a Company You Really Believe In
You probably hear it more than you realize. That people love the food and the message behind a fast food franchise so much that they join their franchise program. Think about how much more passionate you will be to be a part of something you strongly believe in. It won’t seem so much like work when you yourself love the food and values of the franchisor you decide to join.
Are you sold yet? Of course having enough money to open and run a successful fast food franchise also needs to be a practical consideration. Startup costs for fast food franchises can vary from $10,000 to a couple of millions so you need to really save up seriously. Don’t jump into it until you have enough money to not only open strong, but to stay afloat while you start to build your customer base. Remember that Rome was not built in a day.
Here are some tips for saving:
- Know Exactly How Much You Need to Save. Even if your saving is slow-going at first, chipping away at your goal will help keep you positive throughout the process.
- Set Aside A Certain Amount From Each Paycheck. Make sticking to a budget easier for yourself, by having a certain amount of money from each paycheck put right into your savings account. We all know how easy it is to let coffees and lunches and dinners out can fritter away our money before we have a chance to save anything. This way there are no excuses.
- Use Cash As Much As Possible. While having a credit history is important, using cash for most of your daily purchases can go a long way to helping you save more money for your franchise. Each week, calculate how much spending money you have and take the cash out of the bank. You will not only save on ATM fees, you will not overspend because once the cash is gone you know you can’t spend anymore. Use envelopes to separate out food shopping money from gas money from I really need that cappuccino money.
For more information about the benefits of investing in a fast food or burger franchise and what makes Zac’s one of the best burger franchises to join, contact Zac’s Burgers.