Opening a fast-food franchise Essay
Opening a pret a manger franchise could be a very satisfying venture. Consumers ate just as much as US$110 billion worth of fast-food in america in year 2000 only, a remarkable increase by only US$6 billion in 1970. According to The Countrywide Restaurant Relationship, this craze continues to be discovered as pret a manger sales develop at a rate of 5% per annum to an approximated US$163 billion by the end of 2007 (Maxwell, 2003).
This provides you with us the idea that a pret a manger franchise is potentially a really profitable organization option. Even so despite this implication, an average of three out of twenty-five dispenses of major fast-food corporations close down at the end of each fiscal year (Maxwell, 2003), which tells us that merely opening a fast-food franchise does not guarantee success in the industry. Therefore there exists a need to adhere to certain suggestions in order to enhances the chances of being successful in the fast-food business venture. The first thing is picking an appropriate pret a manger site.
This might be a piece of house that you own or perhaps intend to lease contract. It is of prime importance that you initially evaluate if your meant site is fit for the fast-food business. Some franchisors require you to stick to specific suggestions in selecting a site although some may even need you to merely choose from a list of sites that they provide. Sound analysis of a possible site consists of a overview of 1. ) sanitation, 2 . ) buyer base, and 3. ) competition (Hogan, 1997).
A fast-food site must be in an area that is relatively sanitized. You should never choose a site that is next into a junkyard or perhaps other comparable structures. The best sites can be found in spots that have obvious potential consumer bases such as near a college where the school’s students and school members may possibly comprise a commanding customer base. Unfortunately, there are usually additional fast-food shops already set up in the best of fast-food site areas, which makes it important for you to first analyze the level of competition in the quick area and whether you would be able to stand up to it.
The second stage is to choose an appropriate franchisor (Hogan, 1997). The pret a manger that you will choose should be in demand to your prospective consumer basic. You can carry out a survey on the food preferences of folks in your possible site so as to have a better idea of which franchisor to select. It is additionally important to select a franchisor which has a well made famous trademark and a proven formula for good organization.
This is the main advantage to buying a operation as opposed to beginning a new fast food joint from day one. Aspects of a fast-food franchisor such as advertising, good is going to, and good sanitation reports all drip down to person franchises. Furthermore, a well operate franchise must be able to assist a franchisee on everything, from internet site selection as well as lease arbitration to staff training, substances advisory and operations monitoring. The last stage is to associated with proper preparations with your selected franchisor (Hogan, 1997). This involves settling a number of fees which include those for initial operation, royalties, and other miscellaneous charges for advertising and promotions.
This step also includes employing and schooling required staff and creating the selected web page. With all individuals taken cared for of, what remains to become done should be to procure inventory for the meals to be served and then you are good to look. Franchising is actually a potentially successful business option.
Anyone who is considering making this kind of a endeavor should initial look for a proper site and choose a reliable franchisor before going into the detail of getting final arrangements of making a franchise.
