PRESENTATION OUTLINE
The Worst Advice You Could Ever Get About Franchising
Suppose you have some money set aside for an investment. You want to make that money work for you, right? Instead of sticking it into a volatile stock market, you might consider owning a fast food franchise. Once you announce your intentions, you’ll probably be inundated with a lot of free advice.
Unless that advice is coming from someone who is already operating any of the most profitable fast food franchises, you should take it with a grain of salt. Here are some perfect examples of the worst advice you could ever get about franchising.
Topics of Discussion:
- You Need to Buy Into a Hot New Trend
- You Can Turn Your Franchise Business into Whatever You Want
- You Won’t Need a Lawyer to Sign the License Agreements
- You Can Always Get Free Support From a Franchise Coach
- What Would Be a Good Franchise to Open?
1. What is the hottest trend in fast food franchises? Is it spicy food? Yogurt Franchise? Smoothie Franchise? Food from foreign lands? Food that is delivered in biodegradable cups? You could do a lot of research on the hottest new food trends, but that isn’t what makes for the most profitable fast food franchises. Instead, you want to look for a company and brand that has longevity, such as Great American Cookies. It should be a product that has a proven track record as a customers favorite. It’s important to outsmart your competition, but that doesn’t necessarily mean caving into the current trend. Trends come and go, but customer loyalty is here to stay.
2. The reason the most profitable fast food franchises work is consistency. That’s really what you’re buying into when you buy a franchise. Those customers are lining up for a product that can count on tasting the same way it always does and that’s what brings them there in the first place. That consistency is an extremely valuable commodity. Although it might seem like you don’t get to be creative in a fast food franchise, there are many ways you can still put your imprint on the business. That can happen with your support of local charities or suggestions you make for improvements to the parent company. The bottom line is that you will need to follow the guidelines set down by the parent company but that’s a good thing and can help your business grow considerably.
3. While it’s true that the parent company of a fast food franchise will provide you with a lot of support, this is still your investment and you have every right to protect your interests. That’s why you should always consider bringing on an attorney who is familiar with franchise agreements. Franchise attorneys will help you understand the franchise agreement and what it entails. The goal is that your business will be around for the long run. The only way you can join the most profitable fast food franchises club is with trusted support both from the parent company and your own team of advisors.
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.
