While some buyers may be seasoned industry veterans, for others, deciding to invest in a food franchise business can be daunting. To help ease the process and kick off the restaurant right, it’s wise to carefully evaluate the type of upfront and ongoing support the franchisor offers its franchisees. Here are 2 of the 5 elements that make up a recipe for success:
- Site Selection/Build Out: Once you select your site, you’ll need to build it out to fit the franchisor – and customer – requirements in areas like branding and design. To help with the construction, many franchisors lend their time and resources to keep the build out on track and on budget so be sure to ask.
- Pre-Opening Support: Franchisors should offer owners and operators comprehensive support as they prepare to launch to include assistance with everything from administrative functions such as accounting and inventory control to customer service and marketing before opening day.
- Regular Communication: Once the doors open, franchisees can still benefit from support. Find out what type of outreach the franchise plans such as conference calls, quarterly visits or meetings to ensure you’re meeting brand standards and help you improve your business’ performance.
- Training: Since franchisors want you to succeed, most will provide training as part of your agreement. Whether live or online, be sure to learn what type of training the franchisor offers, on what subjects, and for what employees. And take advantage of it!
- Marketing: As a franchisee, you’ll need to invest in marketing and advertising. You’ll likely be provided a marketing support manual and be able to leverage pre-approved materials, but you should find out whether you can weigh in with your opinions about the strategies.