Thanks for inviting me to comment.
I agree that food is a very crowded franchise market area, but on the other hand the demand is there. People love an easy life, so they eat out or buy takeaways. Even eating takeaways in a park or on the beach can be, just like restaurant dining, a social event.
BUYING BECAUSE OF THE NAME? A lot of franchises only got to be a name to remember after they started franchising. My B2B franchise, selling imported products didn't have a name that was known widely in the industry, it had a reputation. It was that reputation, built by operating the business efficiently and profitably, that made it relatively easy to sell franchises.
Your first step on the road to the fastlane via franchising is to establish a successful and profitable business doing what you do best.
For a franchise selling to consumers, there is no doubt that a household name would make selling franchises easier, but how do you get the name to the stage where it is on everyone's lips? Reputation.
If you have a recipe or a meal deal that works, and you already have a clientele that comes back for more, you would make many times more money out of franchising the business than you ever could make by selling a book on the subject.
You certainly need to write a book. It's called an Operations Manual. Every little detail must be there so that even a dummy could produce and sell exactly what you are producing and selling.
You might need help to write that all in an orderly fashion while covering legal necessities. The franchise developer that I recommend in my book (not an affiliate) is one of the few I would trust to guide you through that process. In fact he is the only developer I would trust at all because almost every one of them simply wants to lock you in to allowing them to sell franchises for you.
Choosing to set up a franchises in partnership or not is up to you, but I don't like partnerships as a way to set up a business. Selling Master Franchises is the ideal way to progress to a big expansion phase, but that depends on your success in first selling individual franchises.
Walter
I agree that food is a very crowded franchise market area, but on the other hand the demand is there. People love an easy life, so they eat out or buy takeaways. Even eating takeaways in a park or on the beach can be, just like restaurant dining, a social event.
BUYING BECAUSE OF THE NAME? A lot of franchises only got to be a name to remember after they started franchising. My B2B franchise, selling imported products didn't have a name that was known widely in the industry, it had a reputation. It was that reputation, built by operating the business efficiently and profitably, that made it relatively easy to sell franchises.
Your first step on the road to the fastlane via franchising is to establish a successful and profitable business doing what you do best.
For a franchise selling to consumers, there is no doubt that a household name would make selling franchises easier, but how do you get the name to the stage where it is on everyone's lips? Reputation.
If you have a recipe or a meal deal that works, and you already have a clientele that comes back for more, you would make many times more money out of franchising the business than you ever could make by selling a book on the subject.
You certainly need to write a book. It's called an Operations Manual. Every little detail must be there so that even a dummy could produce and sell exactly what you are producing and selling.
You might need help to write that all in an orderly fashion while covering legal necessities. The franchise developer that I recommend in my book (not an affiliate) is one of the few I would trust to guide you through that process. In fact he is the only developer I would trust at all because almost every one of them simply wants to lock you in to allowing them to sell franchises for you.
Choosing to set up a franchises in partnership or not is up to you, but I don't like partnerships as a way to set up a business. Selling Master Franchises is the ideal way to progress to a big expansion phase, but that depends on your success in first selling individual franchises.
Walter