Taking the big leap to become your own business owner is exciting and scary at the same time. Many entrepreneurs are choosing to go the franchise route of running their own business because there is a built-in support structure and generally it is more affordable then striking out totally on your own. There are so many different types of franchises out there though that the challenge becomes which type of franchise to buy into.
BBQ franchises are growing in popularity and are becoming popular money-makers. Here are 4 Reasons to Buy a BBQ Franchise:
Who Doesn’t Love a Good Barbecue?
Finding dishes that will bring in the crowds is key to your success so you will want to choose wisely. Barbecued meats are a meat lover’s dream so a barbecue franchise will always be a sure hit, because who doesn’t love a good barbecue? And if you pick the right franchise with a varied menu, you will also have good options for customers who want to avoid red meats or who prefer fish.
Barbecue is an Art Form
One of the reasons some people choose to open their own business instead of buying into a franchise program is that they want to be able to be more creative in planning their menu and in cooking and don’t want to have to stick to cookie cutter dishes. That is the great thing about barbecue. There are so many nuances when it comes to cooking the meat just right and adding the right blend of sauces to get the mouthwatering result you were hoping for. It takes a lot of skill and is a true art form so you will never feel like you are more a factory than a restaurant.
It’s More Than a Typical Fast Food Franchise
When people think of franchises, they first picture fast food burger joints that sell typical fare like burgers, French fries and milkshakes. By choosing a barbecue franchise instead, you will be able to offer your customers a totally different culinary experience that they will love, but still get the quick service they desire. With a barbecue franchise like Chaps Pit Beef, you can offer not only great barbecue, but also homemade sides like mac and cheese, cole slaw or green beans and stewed tomatoes.
With a BBQ Franchise, You Always Have a Safety Net
A barbecue franchise besides offering you a diverse menu also provides you a strong support structure to help you be as successful as possible with your new business endeavor. Not only will the franchisor help you launch your new restaurant, they also provide ongoing support as well. You will always have a safety net to keep you from heading into dangerous waters.
This can be a good or bad thing though depending on your personality. If you don’t like having to follow a certain preset criteria, this might not be the best path for you. Again though if you are new to running a franchise, you will probably appreciate all the extra guidance.
Questions to ask yourself:
Before you decide if a barbecue franchise is right for you, ask yourself these important questions:
Do you have a passion for barbecue? If you are going to own a barbecue franchise you should not only have a passion for food and cooking, but in particular barbecue. If you are not obsessed with creating the best barbecue then it is going to be hard to be successful because you need to be driven to be successful.
Do you have enough startup capital? Initial investment for franchises range from just under $10K to 100K or more. You need to factor in the cost of the initial franchising fee and any monthly royalty fees. And this is on top of the money you will need for rent, food and staff. Some franchisors will also require to pay an advertising fee and to buy products from them or a certain vendor. Read your franchise agreement closely so you understand exactly what you are getting involved in.
How much entrepreneurial experience do you have? If you are a newbie to the business of owning a restaurant, then a franchise with its built-in business plan and corporate campaign strategies might be the way to go. If you go it alone with very little experience, you are more likely to make more mistakes which can end up costing you a lot of money. You definitely need some business acumen to run a successful business.
After you have asked yourself some tough questions, then you should create a list of what you are looking for in a brand. Besides missions and values that you can get behind, you should also look for a strong support structure and a robust training program that will help you grow your franchise. Especially if you are new to the business, having experts on your side can be a real boon.
The next step is to hire a legal advisor. You will want an expert in franchise legalese to help you navigate contract negotiations. You need someone who has your best interests at heart and who will alert you to any sticky matters found in the contract. Before signing anything, however, have your legal advisor do some research to see if the franchisor you are interested in has any past or current ligations that concern you. You don’t want to invest in a brand that is struggling financially or has shady dealings in their past.
The final step is to pick the right franchisor for your vision. Before you make your final choice make sure you ask from some references to call and that you have the answers to some key questions like what the market saturation is like for barbecue franchises. You don’t want to invest all this money and time into a barbecue joint when they are already similar restaurants already on every corner of your area. Also find out what is their approach to marketing and advertising is. Will they offer support in that area or are you on your own. Most importantly, make sure there are no secrets that will pop up later and possibly hurt your success. Know exactly what you can expect from the parent company and what they expect from you, including all financial requirements.
No matter what you choose, make sure you do a lot of research so that you are making an informed decision and not flying by the seat of your pants.
Chaps Pit Beef has made a name for itself with its delicious barbecue and friendly customer service. Learn more about their franchising opportunities here.