You Can Do It Yourself: How to Succeed in Restaurant Franchising
Being your own boss has the perks that employment doesn’t offer — the fulfillment of seeing your business grow and thrive. One of the best niches to venture into right now is restaurant franchising.
Franchising can offer you opportunities for growth and self-sufficiency, such as becoming your own boss. Most franchises allow you to earn quickly, even on your first sale. If restaurant franchising piques your interest, then you need to understand what it is, how it works, and how you can maximize opportunities. Continue reading to learn more!
What is Restaurant Franchising?
Restaurant franchising is a business concept where an independent investor (franchisee) purchases the rights to use a restaurant’s brand name, branding (logo and trademark), and business model from the restaurant owner (franchisor).
Under this arrangement, the franchisor develops the brand, optimizes business operations, sets up the technology ecosystem, prepares brand operation guidelines, and provides technical training and support.
On the other hand, the franchisee raises the initial investment capital, pays the franchisor a commission, follows the concept guidelines, and reports to the franchisor. Most importantly, as a franchisor, you can run a successful business and become your own boss, taking advantage of operating under an established restaurant brand.
Which is Better: Franchising or Running an Independent Restaurant?
Becoming your own boss is an excellent step towards building a successful business. But which is better, franchising or running your restaurant independently? Let’s explore the features of these two restaurant concepts.
Initial Financial Responsibility
When you choose to operate as a franchisee, you must commit the initial capital investment to open your restaurant outlet. Running an independent restaurant also demands the same. The big difference is that a franchisee takes advantage of running a successful business without worrying about building brand recognition.
Starting an independent restaurant would require you to put aside funds to create your brand image and advertise the company, unlike running a franchise.
Creative Control Over Your Restaurant
As an independent restaurant owner, you ultimately have creative control over your restaurant outlets. While as a franchisee, you have little control over the branding and marketing aspects of the business.
As an independent owner, you can have a say in your menu offerings, the restaurant ambiance, and employment structure. While this sounds great to a beginner entrepreneur, an independent restaurant owner misses out on the tried and tested menu offerings and brand recognition that established restaurant chains enjoy. As an independent entrepreneur, you also risk running your business without the ability to predict your short-term and long-term sales since it’s a new brand.
Although a franchise has a few restrictions regarding creative aspects like menu items and décor, it offers aesthetic appeal to customers who interact with a familiar brand with excellent customer service.
Working with an established food and beverage franchise always proves valuable with the market experience to help your business thrive; unlike working independently, operating as a franchisee provides the resources, business structure, and staff training you need to succeed in the franchise restaurant niche.
Moreover, you can start your franchise outlet at any beginner level, gaining experience and training. As an independent restaurant owner, you will need significant knowledge and experience in the food and beverage industry to run a successful business, besides running an aggressive marketing campaign to promote your brand.
If you want to become your own boss but need more experience in the industry, Rib & Chop House can help you invest in a restaurant franchise and achieve financial success while understanding the food industry.
Starting your Success Journey with Rib & Chop House
Opening and running a Rib & Chop House location is pretty simple. It begins with filling out a franchising form to kick-start your journey to building your restaurant franchise. You must research attractive outlet locations and understand your legal obligations before you open an outlet.
We Provide Training Material
Our training team is keen to see you build a successful franchise, which is why we provide you with study materials that equip you with knowledge about the Rib & Chop House franchise, the concept, and the company’s basic expectations. This training material will adequately prepare you for your entrepreneurial journey before your initial training begins.
We’ll Guide You On the Start-Up Location
Location is everything for a successful restaurant franchise. At Rib & Chop House, we provide adequate guidance and direction to help you find the ideal location for your restaurant outlet. We also offer design and built-out specs so that you can create a gorgeous and aesthetically pleasing space.
We’ll Offer the Initial Training
Once you are a Rib & Chop House franchisee, you will undergo extensive in-class and in-restaurant training for your staff, including the general manager, two front-of-house managers, two kitchen managers, and any investment partners. This training takes six weeks.
We perform Onsite Training
After you open your restaurant outlet, eight members of our franchise development team will perform onsite training for three weeks to set you on track with the best practices of the Rib & Chop House brand. We will provide you with all the support you need to build a successful enterprise.
Start Your Franchising Journey with Rib and Chop House Today
Rib & Chop House offers you the perfect opportunity to open your restaurant franchise! From branding, to training, we’ve got you covered to ensure your franchise success. Contact Rib & Chop House today to begin your successful journey to becoming your own boss!