Some of the most well known brands are in the food franchise sector. The likes of McDonalds, Pizza Hut, and more have championed the franchising approach to expand their reach as far as they can. McDonalds currently have over 31,000 outlets in over 110 countries. Though some of their outlets are company owned, over 70% are run as franchise businesses. This means they are run by independent business owners. This is serious franchising on a large scale!
Of course, the food business is an incredibly recession resilient type of business to be in. Everyone needs to eat, its quick and easy and relatively low cost. As well as the child friendliness of a lot of the fast food type outlets, they are often a low cost option for a family to go out for a bite to eat.
In addition but based on the ‘fast’ service principles, there are salad bars, sandwich bars and more.
And its not just fast food outlets that can be run as franchises. Catering franchises exist to supply food for corporate events or business lunches. Some provide home delivery services for those who wish to have meals delivered to their door.
Investing in a Food Franchise
The food industry can provide a great opportunity. However its wise to do your homework before investing in a food franchise. Look at your strengths and weaknesses and then review options which match the things you enjoy doing as well as your personality.
Be sure to explore funding options with your bank as finance will pay a big role in the franchise investment. Some of the food franchises you might consider may already have a well known reputation and strong branding, however, its still worth asking the bank if they have any history on the franchise you are considering. Once you have some finance information under your belt its time to visit the franchisor, see their setup and also speak to a selection of franchisees. The franchisees can give you with some great feedback about how the franchise performs for them day-to-day.
Getting legal advice will also be essential as there will be legal contracts involved in the franchise startup. It pays to be properly informed and covered against any repercussions. Once you have made your choice, dedicate yourself to following the proven system and making the management franchise work for you.
If you are interested to learn more, you can start by clicking the green button to register. View our franchise directory to view a selection of some of the food franchise opportunities available.