Restaurant And Bar Franchise In India
Once the restaurant has been set up, and the restaurant owner is earning profits, the next step for any successful restaurant business is its expansion. Restaurant owners mainly turn to the Franchise route for restaurant expansion because of lack of time and the resources required for executing the expansion of their Restaurant And Bar Franchise In India. Starting Franchise Restaurants is a way to expand your business, wherein you (the franchisor) give a license to independent owners (Franchisee) to use your Trademark, business model, and processes to sell or provide services under your Brand Name.
People are mostly under the impression that franchising a restaurant is a complicated process. The truth, though, is far from it. Just like any other expansion project, it takes time and effort to franchise restaurants, but that does not mean that it is an arduous process. If you think you are ready to expand your restaurant business and venture into Franchise Restaurants, here are the ten steps that will guide you through the entire process.
1. Current Model Evaluation
Before you start looking for business partners and roll out your Franchise Restaurant License, you should evaluate your business from end-to-end. The most crucial aspect to consider is, is your concept scalable? Can it be systemized and standardized? Often, Franchise Outlets fail because they are not able to maintain the consistency and standards of the leading brand.
There is always a risk of dilution of the Brand Name if the Franchise Outlets do not perform well. Also, the current business model needs to be profitable. Evaluate the cost structure of the cash flow for the first year and what would be the five-year-return to the franchise.