Why Buy A Franchise like Cheesy Street Grill?
During some time in everyone’s life there comes a point when you are done with reporting to someone else. We all know that moment that you know you have more potential than just taking someone else’s orders. So, you start thinking about all the benefits of owning your own business: flexibility, creativity and, last but not least, the unlimited potential to grow. Read on to learn why buy a franchise.
New Business Idea
Starting a new business takes time, organization, research, money, and luck. After all, an unproven business idea is always a gamble. Here are the steps to starting a business from scratch:
Hone in on an idea for a great product or service
Research the existing market to see if that product truly solves a problem or offers a service needed
Create a cost/benefit analysis to see if the idea is even profitable
Check out the competition to determine what it will take to compete for the same customer base
Determine the right business structure and register it with the appropriate government entities
Get financing after researching a variety of sources
Apply and get all appropriate permits, licenses and insurance
Find and secure a location
Design and purchase everything needed for a physical location if there is one: storefront, food truck. office, etc.
Choose and purchase all technology
Create and trademark your brand (logo)
Set up a professional website and eCommerce site
Set up a point of sale system
Determine product/service pricing
Find vendors and suppliers
Create a marketing plan that encompasses all aspects including digital marketing, print ads, media outlets, networking, referrals and more
Hire and train employees if needed after creating a training program
Find a trusted network for advice
Cross your fingers and hope this idea works
Buying a Franchise
So, what happens when you buy a franchise? The majority of the prep work is already done. Most importantly, you are able to see that the model is successful ahead of time. Yes, there is a buy-in fee and monthly royalties, but the gamble of starting your own business is much higher.
In a nutshell, franchises include:
A proven business model
A suite of operating manuals so you know exactly what works and what does not
Training to ensure you are able to operate your business successfully from day one
Technology that has already been researched and is in use in other successful franchises
Recognizable branding
A proven marketing plan to help you succeed
A professional website
Support from headquarters
A ready-made network to learn from
Products/services that are constantly improving and evolving
The Bottom Line
A franchise is an already proven system virtually eliminating the risk of spending a lot of money on an idea that may or may not work. According to U.S. Bureau of Labor Statistics, more than 20% of startup businesses fail within the first year and only half make it to year five. The main reason to purchase a franchise is because the model works. It offers careful, detail-oriented entrepreneurs a stable, tested model for running a successful business.
Want more information? Feel to reach out to us at Cheesy Street Grill and fill out our no-obligation form. We are currently expanding our search for franchisees in several states (excluding California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, North Dakota, Rhode Island, Virginia, Washington and Wisconsin as they require registration for the offer and sale of franchises).
