FOOD FRANCHISING PART 2 FEATURE ARTICLE
When considering owning a franchise, people tend to immediately consider a restaurant. However, the food industry stretches wide and far, covering a variety of different venues and business opportunities, especially in the franchising field. Not only is food a necessity to survival, it’s a profitable business on many levels. Whether, you are interested in a fast paced environment or you are a foodie with an exceptional palate, franchising can provide different areas of success.
Every street corner in America has a fast food restaurant, which are widely successful and generate profit. The fast food industry has become a part of our everyday lives, we are all busy and working and crunched for time and a quick burger and fries fits into that lifestyle.
There are many options when it comes to the fast food industry and the majority of them do function as franchises. Marketing and brand establishment are evident in this field and something a franchisee would not have to worry about. Before the place is even constructed, the food and reputation have been well established. The fast food franchise has an expensive buy in but it is a guaranteed success.
If you are interested in the craft and industry of food and its preparation, especially the creativity behind it, a fast food industry is definitely not worth exploring. Since most have determined a reputation, they like to remain consistent and have specific guidelines to follow.
If you thrive in an environment that allows you to be a leader without too much involvement and you enjoy guidelines and regulations, this may be a career path worth considering, and a wealthy one at that. The fast food industry produced 198 billion dollars in revenue in 2014 and the number is predicted to rise to $223 billion by 2020.
Natural Food and Vitamins
Nowadays people are obsessed with the word natural; they want to live their lives in a chemical-free and environmentally friendly way. Organic and natural food sources have become an established part of the food market. The popularity of grain fed meat and livestock along with a demand for organically grown fruits and veggies has started its own individualized entity. Franchisors can now purchase real food grocery stores or natural and vitamin supplement chains than appeal to the masses.
People are also considering vitamins and mineral supplements as a means of healing many ailments in a non invasive way. Though the demand is there, it is a very specific one and some food phases can die out relatively quickly. The idea of natural and clean food sources has been a craze for nearly a decade but as business progresses, it may become less popular.
However, it’s a franchise that can create a community establishment, even at a larger business level. It’s great for the franchisee who prioritizes community engagement and interaction as a key component to success.
Although not too many real food grocery stores have become a brand establishment, and an franchisee would be competing with big bulk grocers. That being said, those franchises have been successful because they remain within the demand category of specialty foods. Franchises can provide you with the analytics and proper research that allows for success and constant understanding of the market demand.
People want food to come to them; again it’s not a matter of customers being lazy, but rather a need for spare time. Catering has become more than a simple niche applicable to wedding and holiday markets. Catering now applies to kid’s birthday parties, small dinners, events and meetings and it’s in demand. With revenue of $9 billion last year, it’s a market on the rise.
With the internet and easy accessibility, people can access and order catering services for their many needs and the customer base has widened and recognized catering as an option for many different avenues.
Those interested in the food and service industry may benefit from this type of investment because they may find themselves involved in the process. With schedules being dependent on the client, the franchisee may have to step in for a successful outcome.
Small businesses, which have created growth in the catering industry through websites and social media will be a direct competition. However, a franchise has a reputation and could come with an established clientele and appointment, guaranteeing profit before you even get off the ground.
Enjoying the food industry on a smaller scale can be achieved with the purchase of a café. Many coffee shops have become a well recognized part of the economy. Customers are loyal to the brand name of coffee and are repetitive buyers.
The café or coffee shop allows franchises a small surface area to work with, branding and marketing is usually taken care of, and a franchisee can gain easy profit from the head office’s hard work.
The hours should allow a franchise to enjoy a work life balance that keeps them out of the actual café but the late hours and high turnover rate might bring them in to manage the day to day basis.
It’s an easy industry and platform to learn, with great training and support from the franchisor.
Specialty Foods and Gourmet Foods
With more people seeking take out and restaurant experience, the food industry has had to get creative. Customers are no longer satisfied with cheeseburgers and milk shakes; they want to experience all types of food and they want it now.
Specialty foods and restaurants include smoothies, chocolate factories, cupcake and cake bakeries – essentially the franchise focuses on a specific type of food. There is a lot of direct competition in this type of field, but if a franchise option is available, again the customer base and brand is well recognized.
Someone with a specific passion in a specialty should consider this type of food market rather than simply a restaurant or fast food establishment.
On the other hand, gourmet restaurants cater to passionate people who truly enjoy the art of food and cooking while other franchises are usually recognized with uninspired fast and easy meals. The gourmet restaurant offers the option to work with a bit more creativity and higher end meals.
The food industry is massive and always profitable. People have to eat, they like to eat and they usually like it prepared for them. Even with an economic downturn, it’s rare for the food industry to dip and it’s always well protected.
Though most food franchises hold a pricey initial price tag, the money will return to your pocket quickly and in large sums. With the many options and large investment, it’s worth taking your time to research all aspects of the many different fields. Determine what your priorities are as a franchisor and see which food industry fits your specific needs and whets your appetite.
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ABOUT THE AUTHOR: After receiving an English Degree, followed by a Journalism Diploma, Gina Gill became a freelance journalist in 2008. She has worked as a reporter and in communications, focusing on social media. She currently works as a community information officer with Epilepsy Society, while pursuing her writing career at the same time.