If you’re looking to invest in a fast food franchise, chances are you’ve got a lengthy list of questions. And that’s a good thing! We encourage all prospective restaurant franchise owners to approach their opportunity from every direction. If you’re getting started in your fast food franchising research process, take a look at some questions to ask before you make your investment.
Does the Brand Offer Franchisee Support?
It’s important to make sure that your potential franchisor will offer you strong support, such as resources and tools to help get set up. At Great American Cookies, we pride ourselves in providing our franchisees with top-notch support for the lifetime of our business relationship. We offer in-depth training and support when needed.
What Are the Fast Food Franchise Investment Costs?
The investment costs will vary depending on the fast food franchise. Cookie franchises require costs that are included – but not limited to – franchise fees, ongoing royalties to the brand, store build-out costs, costs for equipment and inventory, and the like. You’ll also need to make sure that you meet the financial requirements of the brand. Speak with the franchisor to discuss specific investment costs.
How Many Franchises Does the Brand Have?
Depending on certain circumstances of the business, a larger number of franchises will typically indicate an established business model. One step further – it’s important to give special consideration to the potential location of your franchise. If it’s too close to another unit, you may wind up essentially competing with yourself.
What’s it Like to Really Work There?
Many prospective fast food franchisees don’t take the opportunity to shadow an owner so they can get a first-hand glimpse into what it’s like to run the franchise on a day-to-day basis. The truth is that sometimes, running a franchise may be a lot different than it looks from the outside. Shadowing and investigating are great ways to get a feel for running the business.
How Selective Is the Franchisor in Choosing Franchisees?
Keep in mind that your franchisor should be interviewing you as much as you’re interviewing them. Running a franchise is simply not for everyone. Just having the financial resources required to get started with restaurant franchises doesn’t necessarily indicate a good franchise owner. And unfortunately, it only takes one bad franchise owner to tarnish the whole system for everyone else.
For more information about the fast food franchise opportunity we have at Great American Cookies, visit our website today!