Food Franchises: A Lucrative Business Opportunity. – Business – Franchising

business_law.jpg

When it comes to a business that gives you daily cash and without any seasonality, recession, or any other affecting factor, then it’s the food franchises that rule the roost. The need for quality health food has now been replaced by a much more stringent requirement. Now, fast food has become a way of life and going toofast food franchises like McDonalds Franchise or KFC Franchise or a Pizza Hut Franchise or a Dominos Franchise is almost a regular ritual which all of us follow. You can find a hip of fast food joint, on every nook and corner of the city. It could be the small subway franchise giving you a healthy alternative or any other food kiosk franchise offering you a localized menu.There are certain things that you need to know well before hand if you are looking to enter this business with several fast food franchises for sale. If you want to stand out amongst the crowd, you need to have something different from the rest,as saturation is a major problem with fast fo od franchisees today.

You need to get as much information as possible before you consider such a venture. So get the food franchise businesses to send you their franchise information pack, financial documents, and any other relevant information.Make sure you call them and speak to one of their qualified specialists to clarify any points that may be unclear if you are not clear on the information that you are supplied.Make sure their licenses are all up to date and everything they do is legal. Many of the food franchise companies will try to fix any problem you have as they know that fair and honest customer dealings will make them more popular.

You will have find out what kind of food they sell, and do you have to follow their menu to the letter. You have the chicken franchise, pizza franchise, sandwich franchise, restaurant franchises, food court franchise, and so on and all their menusand offerings vary.Some of these companies will expect all of the franchises under their umbrella to be uniform in every way, as it will demand total compliance to their menu.Price is the next thing you will need to check out. You will need to know what company serves your kind of food and how much it costs to buy in.What equipment you will need is the next thing to consider. You need to think whether you can truly afford this equipment. Discuss what you think you can do, when you go to the franchise office. You can also buy second hand equipments to minimize your costs. You may discuss with the food franchises whether they will provide you the equipments and how much extra they will charge for this. If you are working with intern ational food franchises, be sure that they have customized it to the local region, and are ready to localize to capture the markets. For e.g.: In the Middle East they expect halal franchises. In India there is an increased focus on separating veg food franchise with the other franchises as people are sentimental about their foods being prepared together. You could also evaluate other food related franchises like pub franchise, Donut franchise, Mexican food franchise, Italian food franchise, Indian food franchise, Chinese food franchise, Bakery Franchise.

You also need to discuss about business licenses, paperwork and insurance with the franchise. This is very important as you may lose money or have to pay a fine if you are unable to complete the paper work properly. You may also need additional liquor licenses,food licenses or many of the other things that must be approved by the statutory authorities before you begin offering the food. Furthermore, you may also need fire and safety certificates if these are not part of the franchise deal.

Before taking any food franchises, be sure your financial situation is in order and that you can afford such a venture. Finally, in order to make your business run smoothly,make sure you have taken the proper procedures and you have all of the equipment needed. You will also have to ascertain if you have allocated enough time, as most food franchise opportunities demand lot of personal time and attention from the franchisees. You will have to be ready to work several hours to ensure that you serve your customers properly. You also have the opportunity to have a home delivery franchise or a catering franchise that will help you capture a larger share of the food pie from your region.

About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s