Where to Find Help with Starting a Restaurant Franchise
A restaurant franchise can be a great opportunity to join an established name brand while running your own business. There are literally thousands of restaurants that offer franchises. This vast variety is terrific for a potential franchise owner, but it can also be overwhelming. Luckily, if you are researching restaurant franchises, you have many resources and tools available to help you out.
Other People Are Reading
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Franchise Marketing Websites
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There are many websites that market restaurant franchises. Visiting these websites is a great first step in helping you pick a restaurant franchise. Two of the most popular websites are RestaurantFranchise.com and FranchiseDirect.com (see Resources). Both of these websites offer easy navigation and the ability to search for franchises that meet your specifications. You can also read descriptions of the franchises, learn about the typical start-up costs and look over testimonials from current franchise owners.
You must remember that these franchise marketing websites are paid by the franchises to advertise their companies. In fact, everything you read on these websites is pure marketing. This does not mean you can not learn a great deal about the franchises that interest you through these websites. On the other hand, be aware that what you are reading is nothing short of a sales pitch.
Franchise Message Boards
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Franchise message boards are a great resource to learn the truth, both good and bad, about a franchise that interests you. These message boards are visited by owners and operators of various franchises. By reading the discussions, you will be able to get honest viewpoints about the franchises. You can also post your questions on these boards. Most members are more than willing to give a perspective franchisee truthful and helpful advice.
One popular franchise message board is Franchise Chat (see Resources). Membership is required, but the website is free to join. Once you become a member, you will have access to a vast archive of discussions about restaurant franchises. You will also be able to join active discussions, ask questions and make contacts that can be a resource to you in the future.
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Current Franchise Owners
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After you narrow down the list of restaurant franchises that interest you, it is important to speak with current franchise owners. Most franchisees are willing to take a few minutes to speak to you about their experiences with the franchise. Either call a local franchise restaurant or just walk in and ask to speak to the owner and explain that you would like to get his advice and opinion about the franchise. You will be amazed at the honest answers you will receive to your questions from current franchise owners.
A word of caution about contacting current franchisees is needed. Do not approach current owners that do business in close proximity to your planned location. They will see you as potential competition. Instead, go a few towns over or to the opposite side of the city. If a current franchisee does not view you as a threat, he will be much more willing to speak frankly with you.
Franchise Consultants
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A franchise consultant works with prospective franchisees to help them pick the restaurant franchise that best fits their situation. A consultant is an expert in franchises, knows about the franchise restaurants available in your area, understands the local demographics and can explain the costs involved in starting and operating a franchise.
A franchise consultant will interview you. She will learn about your qualifications, business goals and current financial condition. Based on this interview, she will make recommendations about what franchise opportunities are right for you. An example of a franchise consultant is FranNet (see Resources). FranNet has locations throughout the country. Because they have local offices, they understand the local business environment, and they can be a great resource in your quest to be a restaurant franchise owner.
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