George Cohon, renowned businessman and founder of...
You've likely eaten out during the pandemic, taking your food to go or having it delivered, and you're certainly not alone. Many food franchises thrived during this time, and it has made them an attractive option to prospective franchisees.
However, there are a lot of food franchise options in Canada, and this can make it tough to decide where to invest. Before you decide which Canadian franchise to join, you'll need to do a lot of research. Here are three points to consider:
The Operating Prototype
That restaurant you discovered during the pandemic is now franchising, and as a fan, you're really interested. However, you need to ask yourself: does this brand really have a proven operating prototype? Before you invest, ensure the model has proven methods, along with actual and qualified sales results.
Sometimes, a successful restaurant owner will mistakenly believe they can expand by simply allowing franchisees to open additional locations, with no system in place to guide those new owners. This approach almost never works.
A high-quality and unique menu is ideal for a franchise, but there is sometimes too much of a good thing. A menu that has too many items or is too complicated will simply not work well in a franchise setting. When a menu is complicated, it confuses guests, increases operating costs and makes it more likely staff will make mistakes. Since flawless consistency across all locations is the hallmark of a successful franchise, the menu needs to be one that can be easily replicated without loss of quality across multiple places and by multiple people.
The Branded Concept
A key to the success of a franchise--and one of its strongest benefits to franchisees--is the brand strength. A successful franchise location will have a consistent theme and a brand voice that surrounds the guest. They will remember the decor, the service, the music and the messaging. Before you invest in a food franchise, make sure it has an identifiable brand in place that you will be able to replicate in your own location. This brand doesn't have to be nationally recognized--there is nothing wrong with getting in on the ground floor of a new franchise--but it should be distinctive and established enough to make an impression on guests.