Opening a Restaurant Franchise – Your Essential Checklist

 

Buying
a restaurant franchise is a great alternative for entrepreneurs who may be
reticent about starting or investing in their own independent restaurant
business – especially during a recession.

In
addition to the training, marketing support, and brand prestige a successful
restaurant franchise operation can offer budding entrepreneurs, franchising is
also one form of business entrepreneurialism that offers would-be business
owners a vast amount of upfront pre-investment advice and guidance from a host of
independent experts.

So
rather than reinvent the wheel on this topic, I’ve sifted through some of the
best articles, resources and tools to provide an A-Z checklist about how to
start a restaurant franchise and make it a success.

From
evaluating your readiness for franchise ownership to assessing and buying a
restaurant franchise to understanding how the law frames the process of buying
and operating a restaurant franchise, here is a selection of expert advice
that’s worth bookmarking. Note that while much of the information below focuses
on restaurant franchising, there is a good amount of information that applies
to franchising in general.

1. Is Franchising the
Way to Go?

Tips
on whether the franchise business model is right for you.

2. Assessing Potential
Restaurant Franchise Opportunities

Tips
on how to choose the right franchise for you.

3. The Process of
Buying a Restaurant Franchise

Buying
a franchise is not always as easy as you might think. Get a greater
understanding of what it takes by reading these step-by-step guides.

4. Operating Your
Restaurant Franchise within the Law

Your
franchise contract will outline the type of support your franchiser will
provide to help you make your business operation a success. This may or may not
include advice on how to comply with the laws and regulations that govern the
food service business.

From labor laws to food safety laws and new regulations such as no smoking
laws, understanding and achieving compliance with legal and regulatory
requirements can have a big effect on the success of a restaurant operation.

Read Operating a Restaurant within the Law: A 101 in
Compliance – Part 1
and Part 2
for guidance on the laws that apply to minimum wage, tips, and overtime, youth
labor, immigration, food safety and taxes.

Additional Resources