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.
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
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.
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?
on whether the franchise business model is right for you.
The Basics of
Franchising – This quick overview
from the Small Business Administration explains the ins and outs of what’s
involved in franchising as a business option and also includes this
Franchising for Me?” workbook.
Right for You? – This quick quiz
from “The Franchise King Blog“* is a 10 minute test designed to get you thinking
about investing in a franchise type business of your own.
2. Assessing Potential
Restaurant Franchise Opportunities
on how to choose the right franchise for you.
Franchise Opportunity – How a Little
Detective Work and the Law can Help – This earlier Small Business Matters blog post outlines steps you can take yourself to
assess a franchise opportunity as well as guidelines on what the law requires
franchise owners provide to potential franchisees.
Buying a Restaurant
Franchise – Do you have what it takes to be a successful restaurateur? In assessing a food business, you’ll need to
understand the advantages and disadvantages of a food service business
franchise model. Read more about the secrets of evaluating restaurant franchise
opportunities in this excellent article from MSNBC and Enterpreneur.com.
Most Popular Food
Franchises and How Much They Cost – About.com
has compiled a list of the most popular food franchises and the costs involved
to open each one.
3. The Process of
Buying a Restaurant Franchise
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.
Buying a Franchise:
A Strategic 101 – Here are four
things you can do to ensure the investment you make is in a credible, proven
franchise model and that there are no hidden pitfalls.
Business.gov’s Franchise Buying Guide – Helpful tips, resources and regulatory guidance from
the government’s official site for small businesses. The SBA also offers
comprehensive advice for potential franchisees.
How Not to Buy a
Franchise – When was the last time
you purchased your own franchise? If you answered “never,” then this article is
for you. (Joel Libava
4. Operating Your
Restaurant Franchise within the Law
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.