If you’re of the entrepreneurial spirit, you may have found yourself wondering what it would be like to own and operate your very own restaurant franchise location. This investment avenue represents a successful and profitable business venture that is capable of bringing in steady income, while creating a unique sense of fulfillment and personal satisfaction.
St. Louis Bar & Grill has been partnering with the most amazing franchisees across Canada, so we know a thing or two about the positives that come with opening up a franchise location for the very first time. If you’re thinking of following suit, then let’s explore the top 10 advantages of owning your first restaurant franchise, and why we want to hear from you.
1) BRAND RECOGNITION
Investing in a restaurant franchise requires some due diligence, since you’ll be partnering with a brand that has already established itself, and found success through its franchising model. This allows you to benefit directly from the hard work and unique marketing efforts of the franchisor in question, which can help attract customers, and drive sales far quicker and more efficiently than if you were to open your very own restaurant.
2) A STRONG BUSINESS MODEL
Restaurant franchises live or die based on their business model, and the ones who reap enormous success have been tested and refined over time. This equates to a clear and immediate roadmap for success, with strategies and systems in place that not only work well, but will also change and adapt to future trends, economic ups and downs, etc.
3) TRAINING & SUPPORT
Restaurant franchisors are big on uniformity and consistency, as these represent the bedrock foundation for success. This also includes comprehensive training and ongoing support to help your franchise location succeed. Your staff will be trained in operations, marketing and customer service, while you enjoy access to a powerful network of fellow franchisees who can offer advice and guidance.
4) ECONOMIES OF SCALE
As a restaurant franchisee, you’ll benefit tremendously from brand-related discounts on supplies, equipment and services, which can help reduce your costs, and increase your profitability. You’ll still need to do some of the hard work yourself, but the head office will have taken care of quite a large chunk, which in turn frees up your time, reduces stress, and accelerates your goals.
5) MARKETING & ADVERTISING
Top-tier franchisors often rely on a marketing and advertising budget that drives traffic to your restaurant, for the express purpose of increasing sales. This takes care of a lot of the work involved in getting your name out there, while you focus on local marketing initiatives that can tie the entire marketing scheme together.
6) TECHNOLOGY & SYSTEMS
Franchisors often invest in forward-thinking technology and systems that can help streamline your day-to-day operations, which is a big help for first-time franchisees who are busy ironing out all the wrinkles. These typically include point-of-sale systems, inventory management software, and ticketing systems designed to allow staff to communicate better, while raising their level of service to exceptional levels.
7) REDUCED RISK
When you invest in a restaurant franchise, you’re not just building a future for yourself. You’re also buying into a proven concept that has already been tested and refined, many times over. The risk of failure is thereby vastly reduced, giving you a huge boost that will help your restaurant location succeed, and pave the way for success.
8) FLEXIBILITY & GROWTH
Franchises represent a unique opportunity for flexibility and adaptation to changing market conditions and consumer preferences. The best part? You’ll have access to these changing tactics and strategies from day one, courtesy of the head franchisor office. While there’s always room to apply your own personal touch to the way you handle your franchising business, it’s a huge relief to know that the higher-ups are working diligently to create solutions that will benefit you directly.
9) COMMUNITY SPIRIT
Becoming a franchisee means becoming a part of a larger community of business owners who share your passion, and your thirst for financial success. Just imagine the camaraderie and support, which can both inspire, and create a sense of friendly competition at the same time. With other franchisees at your back, all of whom share a common interest, it’s like having a built-in support group from day one.
10) GROWTH & EXPANSION
The success you experience through your first location can open up opportunities to open a second, or even a third location, with all the tools and expertise you’ve amassed up to that point. There really is no limit to how far you wish to take your franchising goals, and the initial success you experience will no doubt boost your confidence, and your lust for life.
CONCLUSION
Owning a restaurant franchise isn’t just a smart and rewarding business investment; it’s also an opportunity to open up a new page in your entrepreneurial career. St. Louis Bar & Grill enjoys seeking out and forming partnerships with would-be franchisees who want to enjoy the advantages that come with established brand recognition, a proven business model, and access to the most amazing training and support.
If you’re thinking about becoming a restaurant franchisee, we wish to hear from you, right away! Let’s work together to open up your very first St. Louis Bar & Grill location, so you can share in our success, help our brand grow, and become part of one of the most unique restaurant franchises in Canada.