If you are thinking of putting up a new business this year but are not sure how or where to start, then consider getting a franchise. When you get a franchise, you also get a business that is already established and trusted.
You also do not have to worry about marketing the brand, as most likely it already is popular and there is a marketing strategy already laid out. Today, learn how to have a successful family pizza franchise in 2018 and the years to follow.
Consider a Budget
Set a strict budget and stick to it, especially if you are getting your very first franchise. Know that the average franchising fee is at around $20,000 to $35,000, so be sure to have that amount on hand when planning to get a franchise.
You would also have to think about the royalty fee, which runs at around 5 to 6 percent of your volume. Also, you should always have money on hand in case the business needs it. Some of the costs that you also would have to think about are location fees, utilities, and employee wages.
Hold a Grand Opening
Once you finally have your franchise, go ahead and hold a grand opening. Invite your loved ones, bloggers, food critics, and the media to spread the word. This is one way to let the people know that you are open for business and that you are now accepting customers.
Ask the bloggers and media to write or make a video about your opening and have them post it online for free marketing!
Look for a Company with Experienced Mentors
Visit the franchise’s main office and talk to the people. Ask about the mentors and owners and talk to them. Ask them all the questions you have in mind; do not hesitate, as this is your opportunity to know more about the franchise and the mentors.
Go for a company that has experienced mentors, so if you have any questions or queries that you would want to ask, they can help you right away.
Doing your research and being hands-on with the business will definitely get you far in the franchising business. Good luck and have fun!