With the tremendous economic impacts of the ongoing pandemic, now may seem like the most inopportune time to invest in a franchise. In realty, the opposite is true. Many leading franchisors and entrepreneurs are preparing for 2021 to be “the year of the franchise.” A closer look at the many optimal conditions that are in place for franchise growth and development will reveal why lucrative entrepreneurial opportunities that require your full attention today.
The Benefits of a Proven Franchise Model
Before analyzing the many combined factors that make now the ideal time to invest in a restaurant franchise, a deep understanding of the exceptional benefits of franchises is essential. When you purchase a franchise, you are buying a turnkey operation with a proven track record for success. Franchises have a firm understanding of who their customers are and what their customers expect. More than that, they know how to meet those expectations. Everything from the décor to the menu items, pricing, marketing strategies and more are proven and in place. Compared to starting an independent restaurant from the ground up, a franchise eliminates guesswork and reduces risks for the entrepreneur because all of the operations are established. In addition, you will have the full support of your franchisor as well as the ability to communicate with other successful franchisees.
The Unique Advantages of Today’s Economic Environment
While the benefits of a smart franchise investment are clear, what makes 2021 the perfect time to make an investment? The last major market downturn occurred in 2008, and franchises performed well during that period of time. Keep in mind that financing was difficult to come by in 2008, and franchises still boomed.
In 2021, interest rates are low, and financing is more readily available. In addition to the availability of affordable financing, a fast-casual franchise restaurant can open for under $300,000 today. Because prime real estate in major metropolitan areas across the country is now sitting vacant, landlords are eager to make deals. There is also ample and affordable labor available in many markets.
In addition, is significantly reduced however, demand is substantial. A survey conducted by the National Restaurant Association reveals that 83 percent of those polled would like to eat out at restaurants more than they currently are. The primary rule of savvy investments is to buy low and sell high. Given all of the current market conditions, now is the ideal time to take advantage of franchise opportunities. In fact, many established franchisees have already taken advantage of the current market conditions to expand to new locations and even increased sales and profits.
The Strength of Solid Brands
Finding the right franchises to invest in today is undeniably crucial. While one of the benefits of a franchise is their established operations and systems they won’t be successful long term if they can’t adapt. Brands that have embraced technology and upgraded sanitation protocols, such as Rise Southern Biscuits & Righteous Chicken and Taffer’s Tavern, were able to open new locations and gain their customer’s confidence amid the pandemic. Taffer’s Tavern has implemented an entire Safe Dining protocol to ensure the health and safety of it’s customers and employees. Rise, they had already embraced third party delivery in 2019 they introduced self ordering kiosks to remove cashier/customer interaction, curb side pickup, mobile ordering and other innovations. Everything from the use of digital menus to an enhanced focus on delivery and takeout business have been primary and essential focal points.
Fransmart’s Restaurant Brands
Fransmart has focused on identifying solid franchise brands for more than 20 years, and we have sold more than 5,000 franchises around the world. Many of our brands have expanded considerably over the last year, and these are brands that you may want to review more closely today. Some of these brands are Curry Up Now, Mutts, The Halal Guys and Greek from Greece. Some of our franchisees have opened multiple locations in markets like Atlanta, Salt Lake City and Dallas because of how lucrative the opportunities have been in those areas over the last year. Some brands have intelligently adjusted to accommodate the current conditions to the benefit of franchisees. For example, Rise has created a “higher volume in smaller spaces” prototype that has been incredibly successful in Tulsa and other markets. Many of our other brands, such as Mamoun’s Falafel, Ike’s, Slapfish and others, hold tremendous opportunities for entrepreneurs as well.
Contact Fransmart Today to Learn More
Investing in a successful franchise can profoundly impact your financial security and lifestyle. At Fransmart, we take pride in helping our franchisees be successful in their endeavors, and we would love to tell you more about the opportunities that may be well-suited for your goals. Contact Fransmart today to learn more about our brands.