Watch out fast casual! Stronger flavor profiles have also started popping up in and consumers are loving them. Drive-thru and stand alone stores still dominate the fast food landscape, but some chains are exploring new options such as counter service within larger stores, catering and even delivery. This as important as studying overall industry trends - probably more. Make sure you understand the local economic situation and cultural context.
Here are some examples of the types of questions you should be asking:. The right opportunity is out there. If you are searching for a franchise opportunity, look for chains that fit your local market, have some price flexibility, are willing to be creative with the menu and are operationally efficient.
You can see food franchises expanding in your area here. Matt Sena is a writer and researcher, a co-founder , a former portfolio manager, a rider and a dad. In the early s, the Mongol army placed slabs of lamb and mutton under their horse saddles as they rode into battle. After the meat was tenderized by the saddle and the back of the horse, they would consume it raw, as if it were an uncooked beef patty.
This strange but practical method eventually developed into the creation of modern ground beef. Franchising outside of the United States presents a different set of opportunities and challenges from franchising domestically, including different franchise structures and distinct cultural and legal frameworks. Careful research and consideration must be taken before considering opening a business in an unfamiliar country.
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Press Clips. Franchisors share their latest updates and good news. Because every dollar employers have to pay in the form of wages is one less dollar in their pockets.
The lower the wages, the better the profits. Together, these huge conglomerates dominate the industry, employing 3. Though we have become accustomed to thinking of fast-food restaurants as a timeless and essential part of American culture, the industry is actually a very recent development. It began around 50 years ago when a small group of businessmen saw the opportunity to make a lot of money by cutting the costs of production in restaurants.
They did this by introducing increased mechanization, which allowed them to hire low-wage, unskilled labor — initially high school students and, eventually, anyone desperate for work. Since then, these corporations have continually found new ways to further mechanize the workplace and employ cheap labor. They have even persuaded customers to reduce overheads by working for the company for free! It is common, for example, to have paying customers come to the counter, order their food, take it to their table, and then throw their dirty plates in the garbage.
Their signs, logos and slogans are recognizable around the world. Fans of fast food like predictability, and they want to know exactly what they are going to get before they go through the doors.. By providing consistent, easily recognizable and simple branding, a business reassures customers that nothing has changed.
Simple slogans that lodge themselves in the brain are repeated endlessly on television and radio commercials, ensuring that when customers see the fast food outlet, they are primed to respond because the brand is already "inside" of them.
Fast food is about convenience, so to be successful a fast food outlet should be located in a high-traffic area. Fast food isn't typically considered a destination; customers won't travel into the countryside for a bag of fries in the same way that they would for a special restaurant experience.
By locating outlets in shopping malls and on busy commercial strips, fast food companies gain business and impulse purchases from customers who had no preplanned patronage of the restaurant.
High-traffic areas, though commanding proportionally high rents, also insure a steady stream of foot or car traffic or both passing by your restaurant. Fast food that lives up to its name gains more business than fast food that is actually slow. Many people grab fast food on the way to work or to another destination.
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