Are you just venturing into the restaurant business but not sure about the kind of business suitable for you? Figuring out if you are capable of starting your own brand of restaurant and expanding it, or if you need to buy a franchise and be content with it is tricky. Read on to clear your confusion.
First, let’s get you on the same page about what exactly starting your own restaurant and taking a franchise mean.
Starting a brand-new restaurant –
I simply like to call a new restaurant as something which has a unique theme or name, which previously never existed. You invest fresh and build it from scratch. For this, you need to keep in mind a lot of factors. Though this sounds a little daunting, you can look into
https://blog.selectdine.com/2019/07/how-to-start-restaurant-at-this-point-i.html to get a clear picture.
Taking a franchise
I also call it buying a franchise. It is nothing but being a part of the expansion of an already existing restaurant brand by investing to set up their new store at a new location and managing its operations. You sure are the owner of your store/restaurant, but not the brand.
Both these types have their own perks and minuses.
Before we get into those details, let us compare own restaurant and franchise.
Now for the perks, take a look at the table.
Here are the minuses.
So basically, a franchise gets support from the franchisor for almost everything needed to set up the franchise. This includes finding a good location, getting permits, appliances, interiors, marketing and also human resources. Whereas, for your new restaurant, you do all these entirely on your own.
I don’t want to scare you off by writing all this. It for sure is intimidating but you can always choose to take help from the experts.
SelectDine helps you with all these with no hidden costs. I advise talking to them before taking any decision.