Franchising is a great way for entrepreneurs, both new and experienced, to own their own business. It allows people to join with a well-established brand name and leverage a business model without having to start from scratch by themselves. A great benefit of franchising is always having the franchisor to turn to for support, training, and answers. This is very beneficial to new business owners as they don’t have to go at it alone; they will always have someone helping them. If you are looking for a restaurant investment opportunity, consider franchising with a name like Pita Pit.
The Franchise Agreement
After reviewing the franchise agreement, you will understand why so many people choose to franchise instead of starting from square one alone. If approved to own a Pita Pit franchise, you will have access to the franchise resource center, one-on-one guidance, marketing support, and trusted vendors. With that kind of support, it is easy to see why franchising is often the best way to go. Of course, before signing a franchise agreement, make sure to read it carefully and understand the fees that are collected, the support that is offered, and other important aspects of the agreement.
Selection and Development of the Site
Selecting a location is a crucial element regarding the success of any business, including any healthy fast food franchise. In most cases, franchisors are going to share prototype location specifications and may provide guidance on points to be considered before a franchisee chooses the location. From this point, the individual business owner will be expected to develop the location to meet the requirements and the specific standards of the franchisor, which includes equipment, fixtures, furniture, signage, decor, and layout.
Once the site plan has been approved, it’s the new franchise owner’s responsibility to build the location based on the specifications set by the franchisor’s standards and to ensure that all local building codes have been met. Usually, the franchisor will offer a list of sources for all the decor, equipment, and other needed items that must be purchased. Before opening the business, it will be necessary to get the approval from the franchisor to ensure the location’s development meets the set standards.
Whether you have run a restaurant before or not, the franchisor’s training program will make sure you are ready to open your own business. The details and the duration of the training are included in the disclosure document, which the franchisor provides before signing the actual franchise agreement. Usually, franchise training includes classroom settings, along with on-the-job experiences.
Pita Pit even does at-home training to introduce you to the basics of the brand and business model. More and more, franchisors are offering pre-training modules that are hosted via their Intranet. Even though the cost of training is typically included with the initial franchise fee, it’s usually going to be the new business owners responsibility to cover the cost of food, accommodations, travel, and other costs that the new owner and management staff incur while they are traveling and attending the training.
It’s important to remember that the franchisor is going to understand how vital quality training is and will be looking to see if new franchise owners take this training seriously and continue to learn and improve even after they have opened their doors. One of the best parts of franchising with a brand like Pita Pit is the ongoing, continuous training provided. Industry trends are always changing, so the franchisor will continuously offer training to the franchisees.
Meeting the Standards of the Brand
As a franchisee, the individual owner is a businessperson who is operating under an agreement that requires them to meet the standards set by the franchisor. As a result, it is necessary to operate the business to meet the standards of the brand, the requirements found in the operating manuals of the franchise system, and the established procedures.
The Role of the Field Support Consultant for a Franchisor
With most franchise systems, a field support consultant, who has the role of helping franchisees improve the performance of their business and also make sure they are operating the business based on the standards of the brand, will be available. Field consultants are a key part of the support provided by the franchisor, and it is best for the franchise owner to take time to meet with them in person as well as have them meet with the unit-level team members.
For other parts of the business, such as new products, supplemental training, marketing support, and supply chain concerns, the franchisor can usually provide remote support from the company’s headquarters. Today, more franchisors are including a support system via an Intranet where new franchise owners can communicate with other franchisees that are in the system to receive guidance and input directly from other franchise owners.
Usually, franchisors hold system-wide or regional conventions and meetings. This provides owners with the ability to meet with the management and staff of the franchisor, along with other franchisees and vendors. These are typically some of the most important venues for a franchisor to share new information about ongoing operations, best practices, system updates and more. It is beneficial to take advantage of these meetings when and where they are offered.
Advertising and Marketing
Usually, a franchise owner can expect help with marketing the new location along with guidance for the grand opening from the franchisor, including the type of advertising and marketing that should be used when first opening the business. During the term of the franchise, the owner will need to advertise on a local level or collectively with the other franchisees or other company-owned locations in nearby market areas.
Some franchisors also require an owner to contribute to the system advertising or the brand marketing fund, which will then be used for supporting the system’s marketing programs. The minimum amount that is required for advertising and marketing set in the disclosure document and agreement that is signed.
Franchise brand standards dictate the way that advertising and marketing is handled across the entire franchise system. Usually, this means that an individual franchise owner will not be free to develop and use marketing or advertising materials that haven’t been reviewed or approved ahead of time by the franchisor. In most franchise systems, there will be a method for franchisees to submit their planned local marketing materials for franchisor approval to help ensure branding consistency.
Ready to Own a Franchise?
Anyone considering franchise ownership must consider all the important factors involved with owning and operating a franchised business. Franchise ownership isn’t for those who aren’t serious about being a business owner. There are standards and requirements that must be followed to help ensure that operational standards are met and the desired results are achieved. With the support and guidance from the franchisor, though, franchise owners should be able to grow their franchise with confidence — and enjoy doing it.