Research for the most of the successful businesses has shown that a majority of them are franchises. Franchising is a strategy that involves licensing trademarks. One wishing to venture in provision of products and services such as retail, beauty and health, they must apply the concept. Franchises are both popular and profitable due to the fact that they are already established businesses. Business franchises enjoy the advantage of having being a recognizable name and the groundwork and their name being easily recognizable. However, one should do a research on the business they intend to venture. Doing a market study enables one to get to know how the business environment is for the services and products they intend to offer.
The most popular and successful business franchises are the restaurant franchise. America is among the leading nations in having the highest number of hotels that are part of the franchise. A majority of the revenues generated from the hotel industry is obtained from them. When one walks in any street, or any mall, there is a high probability of finding one restaurant franchise or several of them. The fact that they are recession proof and have a wide variety of opportunities makes the restaurant franchise ventures be among the most profitable businesses. Fried chicken, burger, healthy eating franchises, in addition to other fast foods are some of the popular products and services offered by a majority of franchises. The franchising companies focus on satisfying their customers’ needs and wants to ensure they are making profits and also maintain the customer base.
For those intending to start restaurant franchises, there are merits and demerits of the business depending on particular circumstances. An advantage that comes with venturing into franchise business is the fact that it is an instant business. This is due to the fact that the head office of the business provides marketing and the d?cor. Beginners in the sector are guided on how to successfully carry out the venture. Start up costs for marketing and advertising need not be included since the business has a recognizable name. One disadvantage of the venture is that a lot of money has to paid for one to join the franchise. The head office for the franchise also requires that one pays loyalties to them.
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The purpose for the loyalties paid is so as they can be used in the advertising and publicizing the business. Another disadvantage is that, in order to continue providing the same quality service and continuity in each franchise restaurant, one does not have a say on the menu or the d?cor for the business. The owner also does not have control of the sitting plan inside the business premises and also staff have to wear uniforms. The restrictions limit individuals who would want to experiment with various ideas for the business are not suited by such ventures.The Ultimate Guide to Jobs… Read More