7 Advantages of Franchising in the Restaurant Industry
Wondering if it’s better to franchise vs. opening an independent restaurant? Learn the advantages and disadvantages of franchising so you can decide what’s best.
1. PROVEN BUSINESS MODEL
If you’ve decided to dive into the restaurant industry, you will likely be conducting a lot of research to see what the market has to offer and how you may fit into the scheme of things. You will learn that franchise businesses are more than twice as likely to be operational five years after opening as non-franchises.
One of the advantages of franchising is that they have already figured out what works and what doesn’t. They have weathered the trials and tribulations of a new company and have established a system for success as a result. As a franchisee, you benefit from the learning curve that members of your franchise family have already experienced.
2. A WINNING BRAND
As diners, we always return to restaurants that we know and trust. Even if we haven’t experienced a particular location, we know what to expect if it’s part of a franchise. Opening a restaurant within an established franchise system lends you immediate recognition before you even serve your first meal. When you decide to open a restaurant with Teriyaki Madness, your customers already know what to expect: a fun and delicious dining experience they can’t get anywhere else.
3. EASIER STARTUP
The steps of formulating your plan, securing funds, and bringing it all together is fundamental to the inception of any business. With a franchise, the startup process has been well-honed over time, and you will be able to enjoy the support of a team of experts behind you every step of the way.
4. BUYING POWER
Opening a franchise means you benefit from the franchisor’s well-established relationships with other providers. Because franchises depend on a level of consistency between multiple locations, they often form partnerships that end up saving you money and headaches when supplying your business with the products and tools you need to run your restaurant.
One of the biggest advantages of franchising in the restaurant industry is the benefit of an established training and support network. Franchises are made successful by their proven methodology, which can be replicated and shared to maintain a sense of continuity between all locations.
A franchise will set the scene to help you run your restaurant as seamlessly as possible from the start, with training covering everything from leadership techniques to daily operations to customer service and more.
6. MARKETING SUPPORT
Another advantage of franchising comes in the form of a team of professionals whose goal is to see you succeed. Franchises promote their brand, and in turn, your business, through far-reaching advertising campaigns via online advertisement, television, radio, and other highly visible platforms. As a franchisee, you will benefit from the experience and expertise of a dedicated marketing team whose sole job is to benefit the brand. Teriyaki Madness uses all available avenues to market your business and keep customers excited to frequent your restaurant.
7. NO EXPERIENCE REQUIRED
Whether or not you have extensive experience — or any experience — in the restaurant industry, it isn’t a deal-breaker with the right franchise. An entrepreneur with no restaurant background who launches an independent restaurant successfully is almost unheard of. But not in franchising. TMAD owners have joined the franchise from all walks of life, and we make it our business to ensure that every franchisee is poised for success, no matter their background.
WHAT’S THE CATCH?
In many ways, the advantages and disadvantages of franchising are two sides of the same coin. While being part of an established brand is a huge draw for some entrepreneurs, it might not sit well with others. A winning reputation can take you far, but bad press can mar your public image. For some, the idea of contracts and established guidelines may feel restrictive. For others, the structure and guidance of a proven system is the boost of confidence they need.
While franchising isn’t for everyone, it presents an incredible opportunity for ambitious entrepreneurs who are seeking to capitalize on the ability to run their own business with the backing of a winning brand.
FRANCHISEES LOVE TMAD
As one of the fastest-growing food chains in the nation, Teriyaki Madness offers qualified franchise candidates the opportunity to get in on the Madness with a truly unique restaurant concept. Having expanded to over 110 locations since we began franchising and with more than 50% of shops owned by multi-unit owners, TMAD is thrilled to welcome new franchisees into the fold and show you what we’re all about.
To learn more about franchising opportunities with TMAD, download our free franchise report.