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Are you curious about how to join a restaurant franchise to start a small business? Have you been considering the benefits of a pre-built restaurant plan to start your own business? If your answer is yes, this BinWise blog is the place for you.
Previously on the blog, we’ve talked about a number of restaurant franchise tips, tricks, and plans for business building. We’ve covered:
- How to franchise a restaurant business and open a new restaurant
- The best franchise restaurant businesses to draw inspiration from, to be a successful restaurant owner
- How to write a franchise restaurant business plan, including plans for restaurant franchise hiring, franchise inventory management, and franchise management software
When you’re learning how to start a restaurant of any sort, there’s lots of information to take in. In a restaurant or hospitality franchise, coming into the franchise, many plans will already be laid out by the franchisor. We’ll walk you through the steps of how to join a restaurant franchise and the benefits you can expect after joining the business.
Learning How to Join a Restaurant Franchise
Learning how to join a restaurant franchise gives you access to small business ownership and wide-ranging growth opportunities. We’ve broken down the process and benefits of joining a restaurant franchise into two categories. Those are the steps to join a restaurant franchise, and the benefits of joining after you’ve opened a franchise restaurant. Read on!
4 Steps to Join a Restaurant Franchise
These first four tangible steps of how to join a restaurant franchise are all about getting you set up with the franchise business. The initial work of starting a franchise restaurant focuses on taking the guidance of the franchisor and applying it to your business. These four steps will get you ready to open the doors of your restaurant franchise location.
4. Seek Out Information On Franchises You’re Interested In
The first step is seeking out information about the franchise options you have. You can check out specific local restaurants, or look into chains that may or may not already have a presence in your area.
3. Pay Your Startup Fees
Paying your startup fees is the exciting beginning of your franchise after you’ve found a franchise and gotten set up with the owner. These will be a large chunk of your initial budget to get the ball rolling.
2. Sort Your Real Estate, From Costs to Location
Depending on the franchise you choose and your location, there may already be some choices made by the franchisor about your real estate. If not, it’s up to you to find the right spot. Check out your local commercial real estate to find the right place for your restaurant.
1. Implement the Steps of the Franchise Operations Manual
The franchisor of the business is responsible for providing you with a franchise operations manual. Once you’re set with a location and you’ve paid your startup fees, it’s time to get to work on organizing your franchise according to the manual.
4 Benefits of Joining a Restaurant Franchise
When you search for “restaurant franchises” on Google, an overwhelming amount of articles show up about the benefits of owning a franchise. This monumental body of work is so prevalent in the industry because, well, there are many benefits to joining a franchise. You get small business ownership benefits. You get to lean on an established brand. Read on to learn all the benefits.
4. Fast-Tracked Small Business Ownership
Owning a small business typically takes a great deal of time and effort. For a franchise restaurant, yes, you’ll need to put in effort, but the pace to get to an open door is much quicker.
3. Operations and Success Planning
When you can follow the map of a successful business, your business is more likely to find that same success. You get this benefit with a franchise restaurant because you can follow the plans of the franchisor.
2. Foundational Business Support
Foundational business support comes into play with the franchisor playing an active role in the business. While it is your business, they have an investment in your business and will be there to support you and the business plan.
1. Established Brand Recognition
There’s nothing better than having a business people know and love. Most places have to work very hard to reach this point of customer satisfaction. When you open a franchise location you can bank on the reputation of the original restaurant to bring people in the doors.
"Key Takeaway: Learning how to join a restaurant franchise is a streamlined way of entering the field of small business restaurants."
Frequently Asked Questions About Joining a Restaurant Franchise
Learning how to join a restaurant franchise is a streamlined way of entering the field of small business restaurants. That doesn’t mean it’s without work and lots of questions. Our answers to these frequently asked questions will help you feel more comfortable with restaurant franchises. Read on to learn about joining a franchise and running your location with skill.
How Do I Get Involved In a Franchise?
The first step of joining a franchise is to research franchises you can join and find the one that fits your business goals. Do you want to be part of a large chain restaurant? Are you searching for a smaller range of businesses with a niche clientele? Do your research, and then follow the general steps the business has for franchising once you’ve chosen your business.
How Much Do You Need to Join a Franchise?
It’s recommended that you have at least $10,000 set aside for initial startup costs and operational costs of joining a franchise. If you’ve saved this up or worked with private investors, you’re good to go! If you’re looking for financial assistance, a small business loan, even potentially specifically for a franchise, can help you along.
Can Anyone Buy Into a Franchise?
Yes, technically anyone can buy into a franchise. That said, there are ideal folks for running franchise locations. You’ll be vetted by the franchisor and you can work on your resume, so to speak, to be an ideal candidate for a franchisee.
Some level of experience is helpful because it means you’ll be capable in general situations. You can take restaurant management courses to help in this regard if you don’t have hands-on experience.
Are Franchises Easy to Start?
Starting a franchise is one of the more straightforward ways of starting a restaurant business, but that doesn’t mean it’s easy. While the franchisor will have provided preparation and plans for the restaurant, the physical starting of the business and ongoing restaurant franchise management will rest on you.
Joining a Restaurant Franchise: Be a Joiner to Lead Your Business
Learning how to join a restaurant franchise is an established way of starting your own business with a built-in safety net of support. When you join a restaurant franchise, you’ll have lots of support and structure to follow and fit within. You’ll also have the freedom to optimize your business within the franchise agreement.
One key optimization is using the right software support for your business, such as inventory and order management support. BinWise and BlueCart can help you there! The BinWise Pro beverage inventory program simplifies your inventory management needs. BlueCart’s order management software streamlines your order management system.