When you realize your dream of becoming an entrepreneur, you might be overwhelmed with all the risks. Perhaps the biggest concern of any person starting their own business is how they can get customers.
If you plan on entering the fast-food industry, there are so many variations of a product, so it’s a challenge to find a way to stand out. We have probably seen all the possible pizza flavors and burger recipes that it’s hard to innovate.
The solution to this dilemma is to become a franchisee. If you get a franchise, you already have loyal customers at the onset. The only challenge is to serve them well and keep them. The problem with franchises is that they are a costly investment. The best advice is to start with other products that are also popular and less costly, like a cookie franchise.
Why Should You Franchise?
There are many advantages to getting a franchise as opposed to opening an independent business. The franchise already has loyal customers through their name recall. Some franchises have been around for half a century now, and their brand has been embedded in many people’s minds. In some instances, it is already part of their culture and tradition. That is an easy head start.
There are also advantages for up-and-coming franchises. Many of them will invest in aggressive advertising campaigns to introduce themselves, and you will be part of whatever mileage they get from these. The cost of producing your advertisements can reach six figures.
Franchises also have proven formulas at the operational level. There are some things that only experience can teach. By being part of a franchise, they can give the proper training to employees, as well as instructions on food handling and sanitation practices. Franchises also offer reliable support systems to their franchisees. These also include establishing a strong online and media presence.
Why Should You Consider a Franchise?
There are good reasons why a franchise is ideal for the aspiring entrepreneur. Firstly, the franchise fee is much lower than a full fast-food restaurant. Fast-food franchises can cost millions with the required liquid assets and operational costs, permits, and more. This is a significant consideration if you have limited assets.
The margin of growth is also much more extensive. For example, many of the cookie franchises started as small businesses, and they have managed to climb the ladder. Fast-food restaurants might not have that much leeway.
Fast-food chains are also being criticized by health professionals and are getting a reputation for being hazardous to one’s health. While people will still patronize them, there might be a time when drastic changes to their ingredients and cooking methods will be implemented. This can have significant effects on their products. In contrast, cookies and other baked goods will likely be considered safe in the foreseeable future.
A cookie franchise is a good starter business. It has name recall without astronomical capital requirements. It is a low-risk investment with a high possibility of returns.