| Not everyone has the right personality and mindset | | | | If around 60% of restaurants fail within 5 years, that |
| to launch a successful food service franchise. Some | | | | means that a healthy percentage of new restaurants |
| that think they do may find that they are unhappy | | | | remain profitable and successful. If you're certain that |
| while others who don't initially consider a food service | | | | your independent restaurant will be successful in your |
| franchise decide that it's exactly the right path for | | | | area, then the odds are good that it will. Building a |
| them. When it comes to choosing a food service | | | | restaurant from the ground up can add up to |
| franchise or building your own restaurant brand from | | | | hundreds of thousands, if not millions of dollars when |
| scratch, there are several points to consider before | | | | you factor in brand development, menu creation, |
| choosing a path. | | | | advertising, establishing procedures, equipment |
| Can you live with an established process? | | | | purchase, etc. |
| In order to run a successful food service franchise, | | | | You'll also need to have a cushion for unexpected |
| you'll need to possess an entrepreneurial spirit, but | | | | costs and to help you navigate through difficult times. |
| also be willing to "stay within the lines" of the already | | | | If you truly don't have all of the money you need, |
| established operational procedures. For some people, | | | | you may be placing yourself in a very vulnerable |
| owning a business where they must conform to | | | | position. Another benefit of food service franchises is |
| preconceived ideals that they may not necessarily | | | | that you can generally get into the opportunity with |
| whole-heartedly agree with, is little more than being | | | | much less starting capital than if you were to build a |
| someone else's employee. If you have very strong | | | | restaurant from the ground up. That's because the |
| convictions about doing things your own way, | | | | menu is established, the promotional materials |
| ownership of a food franchise may not be for you. | | | | created, the paperwork streamlined, and advertising |
| On the other hand, the reason food service franchise | | | | costs are shared between the entire food service |
| companies have such systematic processes, is | | | | franchise network. |
| because they are profitable. A study conducted by | | | | Ultimately, deciding whether or not food service |
| Ohio State University shows that between 57% and | | | | franchising is right for you depends what will truly |
| 61% of new restaurants fail within 5 years of | | | | make you feel satisfied. If your ultimate dream is to |
| operations. Some of these are food service | | | | create your own menu and restaurant ambiance but |
| franchises, but more are independent restaurants. | | | | you don't have the funding to get it off the ground, |
| With such a steep rate of failures, having a system | | | | perhaps your efforts are better spent raising capital. |
| to depend on is considered by many to be one of | | | | However, if you like the idea of entering into an |
| the most significant benefits of food service | | | | established business with a proven success record, a |
| franchises. | | | | food service franchise may be the ideal solution for |
| Consider your financing limitations | | | | you. |