PRESENTATION OUTLINE
Five Skills You Must Have Before You Invest in a Food Franchise
Franchising isn’t for the faint of heart—especially investing in a food franchise. After all, it takes a pretty significant amount of money to get started, the ability to buy into a brand, and the willingness to roll up your sleeves and do the dirty work necessary to get the restaurant up and running.
It’s for people who like a challenge, enjoy building a business, and are willing to work. You’ve got to have great attention to detail, and you’ve got to be willing to put in long hours. And those are just the intangible traits franchisees need. Here’s a look at five tangible skills you need before investing in a food franchise:
Topics of Discussion
- An Understanding of Systems
- Product Knowledge
- People Skills
- Customer Service
- Food Franchise Marketing
1. More than anything, food franchises are about systems. As a franchisee, you are paying to gain access to techniques that have been proven to work in the past. Those techniques have been put into systems that make them efficient and effective. If you are the type of person who understands and appreciates systems, exploring a career as a food franchisee might make sense.
2. How are you going to sell pretzels if you don’t know anything about how they are produced, what type of toppings customers want and expect, and what to charge? If you are going to invest in a food franchise, you are going to want to learn as much as you can about the product. Knowledge is power, and knowing a lot about the product you’ll be selling will go a long way toward helping you make better decisions.
3. It has been said that franchising is for lovers, not fighters. As a franchisee, you’ll need to be able to get along with people from various backgrounds because you’ll be dealing with people from all walks of life every day. You’ll be working with leaders and employees from the franchise’s corporate offices. You’ll be hiring and supervising employees. And you’ll be working with customers, and no two customers are alike. Your ability to get along with all of these people and groups will be critical to growing your business.
Disclaimer: This information is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for information purposes only. Currently, the following states regulate the offer and sale of franchises: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. If you are a resident of or want to locate a franchise in one of these states, we will not offer you a franchise unless and until we have complied with applicable pre-sale registration and disclosure requirements in your state. Franchise offerings are made by Franchise Disclosure Document only.
