The reason America needs restaurant franchising companies is so more restaurants will succeed and help people realize their dreams of opening their own restaurant. The need for a restaurant franchising company is more prevalent then most people may realize. According to BloombergBusinessWeek.com, 60 percent of all restaurants fail. I believe that with my franchising firm I could help future business owners reach their personal dreams and financial goals. The most successful restaurants started out as small businesses (franchoice.com). McDonald’s started out as two brothers making milkshakes. This means that any small business can become an international franchise in time.
How would I start my firm you ask? I would have to be a testament of my own theory. I would start out as a restaurant owner myself. After culinary school, I would open my own restaurant. I have to first find a longterm investor who would help me throughout the entire process of opening my own restaurant, eventually opening more locations, franchising
Griffith II them, and then proceeding to open my own firm to help other people do the same thing.
Ok, before I get too far ahead of myself lets start at the beginning. Opening your own restaurant isn’t easy by any means. First, you have to decide on a concept (restaurants.about.com). This is what your entire restaurant revolves around. It is the basis for your interior and exterior design, your menu, and the overall feel of your entire restaurant.
The saying “LOCATION! LOCATION! LOCATION!” is perhaps the most important piece of advice you could go by when opening any type of business. The location of your restaurant is detrimental to your success. You need to make sure your business appeals to the ...
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...e that i built from the ground up, but at the same time give other the people the opportunity to invest into their own dream and goals as well as my own. My company would provide the expertise and know how while the franchisee would have the drive and skill to operate one of my restaurants successfully.
Having multiple restaurants in multiple communities around the country and eventually the world will provide jobs for people and the larger my company becomes the more I could help improve the economy and possibly take part in unemployment becoming less and less of an issue in this country.
In conclusion, the ultimate goal is to provide a service the has multiple chains of restaurants that I started and opened myself, but I open new
Griffith VII locations for franchisees in order to grow my brand and provide jobs for the surrounding community of my restaurants.
Dave Thomas an American restaurateur and a philanthropist once said, “It all comes back to the basic. Serve customers the best-tasting food at a good value in a clean, comfortable restaurant, and they'll keep coming back.” (thomas). Everyone can agree on Dave Thomas, but I have a couple more criteria to add to his idea of a great successful restaurant. If I go out to eat I might as well pick a place that, though may be expensive, has scrumptious food because why bother going to spend money on food you can make yourself? A great restaurant has to meet three of my criteria’s: the Décor and atmosphere, impeccable service and cleanliness, and most importantly the food.
I want to be a very successful operator/owner. I want to out sell any other restaurants in my area.
Senior Management of PepsiCo is evaluating the potential acquisition of two companies – Carts of Colorado and California Pizza Kitchen – in order to expand the company’s restaurant business. If indeed PepsiCo decides to pursue the acquisition of one or both, they must decide how to align each of these business units in its historically decentralized management approach and how to forge relationships between the acquired business units and existing business units. In their evaluation, Senior Management is faced with the question of whether the necessary capital investment in order to purchase one or both of the businesses can be profitable for each of the acquired business units, but must also take into consideration that the additional business units will not hinder the profitability of the existing business units.
The restaurant business is a challenging industry and if a company has a strategy that works for them as well as their employees, it should stay the course and tweak as needed.
For example, in cities like Los Angeles, Houston, New York, Chicago and San Francisco I would make all stores bigger and widen the selection. Most people like myself go to 7-Eleven if they are either on the road or just need something quick. If I was a key exec, I would want us to be more than that. I would try to tap into the demographic that goes to Walgreens and Rite Aid and become even more of a convenience store. I would introduce new products that become synonymous with our brand in the mold of the 7-Eleven
The end goal of this proposal is to come up with a food truck that will be located in Harrisonburg. A demographic will be targeted and marketed to. The food truck will not be tied down to one spot but will, move around the Harrisonburg area, based on the ever evolving market. The food truck will come up with a specialized menu with a limited variety, but focus on quality. Many people do not like the monotony of everyday food choices, and often look for new places. The food truck will try innovative choices that break away from the monotony of everyday choices. It will be the goal to offer a niche food choices that are unique and can be made quickly and affordable. Not only will the niche food be offered but along with drinks and sides that complement the main food offered.
Another strength is Burger King’s franchise development having 90% of its restaurants franchised. The franchise concept allowed the company to grow with minimal capital expenditure and receive royalties and fees. Burger King went above and beyond and created a new model of its restaurant to attract mo...
From a food and beverage manager's perspective - What are the important characteristics and procedures of a food and beverage establishment in relation to its size, type, market, design, planning and organization?
Not having to answer to a corporate boss is the dream of many and the flexibility that owning a business franchise creates provides this option. Success is not reached by simply creating a business, however. The level of success is measured by the size and efficiency of the business. Business growth is the driving force of the economy. The additional jobs and revenues created when a business expands allow the economy to grow at exponential rates. One of the fastest and most popular ways to increase the size of a business is to turn it into a franchise, which can then be purchased by individuals. Franchising provides opportunities that are beneficial to both the parent company and the purchaser. The company that owns the business can expand without having to pay such a large initial cost to open a new store since the franchise purchaser pays a cost to open the business. As well, the company can regulate many of the business activities so that there is a sense of consistency throughout all of the locations. The purchaser is allowed to use the trademarks and goods of the franchise which already have a large market presence. As well, they are provided with training and work standards by the company to help their business run smoothly (Kalnins & Lafontaine, 2004, p.761). Looking at the business model of the world’s largest food retailer, McDonald’s, provides great insight into franchising and business growth in general as well a better understanding of a global business that utilizes the franchising technique.
Manufacturing Franchise: These types of franchises provide an organization with the right to manufacture a product and sell it to the public, using the franchisor’s name and trademark. This type of franchise if found most often in the food and beverage industry. Most bottlers of soft drinks receive a franchise from a company and must use its ingredients to produce, bottle, and distribute the soft drinks.
...ded once they see that the sales will be increasing and tips will be larger. Good staff will increase good public relations which will result in better business. Marketing a restaurant is the most important part in running a restaurant. If a restaurant is not marketed, no one will know about the restaurant causing it to lose money to operate forcing it to close down. Prices on the menu should always be appealing to the restaurant target market and set towards the products on the menu. It is essential that a restaurant develops its staff to the fullest, for a strong staff creates better sales and the public is pleased .
The restaurant industry has become quite competitive in recent times. In an effort to cut costs restaurants are taking serious measures to improve their performance in relation to their competitors. Two of the most important steps that restaurants have undertaken in recent years are:
The first step in any business is to think of or create a business idea. Without an idea, one cannot launch their business off the ground. A right direction is needed to create a business with a unique idea. However, other options include franchising or buying an existing business (1). Franchising allows an individual to run stores such as Burger King or McDonalds under the corporate name. It involves taking training classes and a heap of money in order to start a franchise. A Franchisee will have to buy products and services from the corporate entity they are franchising from, which is often required. Buying a franchise is like taking a piece of the pie from the company that is franchising and sharing that pie with everybody else. In addition having a franchise allows one to communicate and in essence become a big part of an added business opportunity (4). Franchising is far from easy to start and maintain for that matter. Starting a franchise involves a l...
Starting your own business can be exciting and it can become a well- rewarded experience. Being your own business includes great benefits, create your
A franchise is simply investing money in a location or store, and then having the store become your own business after learning how to manage the entire business. You earn the majority of the profits, and you also don't have to worry about operations. You'll be taught by the company on how it run the entire business, and this is the reason why this is a huge and very easy way to become rich. Franchises require quite a hefty investment depending on the business you plan to buy. However, if the business is in high demand, there is profits to be made. Take for exMple the Cold Stone Creamery business. Countless people purchase one of their many franchises. The money is very good, the opportunities are endless, and the fact that there is no more need for advertising is what makes this more worth the investment in the long