A lot of people like the idea of owning a restaurant. Of course, history shows that this is one of the most difficult industries to succeed in, especially if you try to do everything on your own.
Its a good thing, then, that you can buy into an existing restaurant franchise. While this certainly does not protect you from the many obstacles and complications of restaurant ownership, it can make it much easier to get started. As such, here are 5 things you should know about purchasing Ben et Florentine franchise a vendre.
When buying into a restaurant franchise you need to look at what whether or not there is existing consumer demand for it. Or, rather, you should look at what is popular in the market and whether or not this type of establishment would thrive. If there is nothing like it in your area then it might be high time you introduced the concept; but the absence of a similar concept might also be a sign that consumers don’t want it. In essence, do some homework.
Buying into a franchise literally involves you handing over tens to hundreds of thousands of dollars to acquire the rights and the systems they have developed. Make sure, then, that the money you give them does not actually pay for the franchisors operating costs. Investigate their compensation and expansion plans and always read the fine print regarding what, exactly, your franchise fee covers.
In addition to researching the franchisors financial strength you should also look into their market intelligence. How good are they at getting the important data on the industry and the market. If they have excellent financial strength, they are probably already good at this aspect, too.
Sometimes it also helps to look at the company’s history of location and franchisor selection. Do you fit their profile? Would you need any trade courses or licenses to better fit? Does it matter? If they are strict about their criteria, there is a good chance they have a firm grasp on what it takes to succeed.
Finally, if you get to the point where you are strongly considering buying in, make sure that you go over the legal agreement with the proverbial fine-toothed comb. Have an independent third party—preferably a lawyer—go over the legal agreement just to make sure that you understand your responsibilities and what you can expect of the franchisor.