Buying a franchise restaurant is a large decision and potential owners should go into it well prepared.

“Completing due diligence with an existing franchise partner is an invaluable step for an incoming franchisee,” advises Mark Sozanski, Chief Operating Officer at Montana’s BBQ & Bar. “It provides confidence and a level of validation to any discussions leading up to making a final decision for both the incoming franchisee and the franchisor. This is the power in this step of the process.”

What should a franchisee get paid?

It’s no surprise that this makes the top of the list. After all, owning a successful franchise takes hard work and you’d expect compensation to match that. Unfortunately there is no direct way to answer this question as there are many factors involved. 

“Legally, franchisors cannot give income amounts or forecasts of future income. This practice is more protection for franchisors as they cannot guarantee the same performance for all franchisees.” – FranSmart

However, that doesn’t tell us the whole story given that this salary would be offset by startup costs and associated fees. In short, franchise owners can earn a lot of money if they have a strong brand. A strong brand can really make the difference when it comes to getting a new franchise off the ground. This doesn’t change the amount of work to make it happen, but a strong brand can certainly help you recoup upfront costs faster.

How much does it cost to buy a franchise restaurant?

Start up costs and initial investments vary depending on the brand you are looking to open. When you work with the Recipe franchising team they’ll provide you with all the proper information to help get you started and go over the costs associated with the brand  you might be interested in franchising.

How do I choose the right franchise for me?

There are many things to consider when thinking about what type of franchise you’d like to open, that’s why the franchising team is here to help. Once you align on your budget and business goals the Recipe team is able to provide you with the right information to help you get set up. Based on current opportunities and your investment interest, they’ll be able to set you up with a brand that aligns with your goals. Do you want to open a Harvey’s or are you thinking of a Swiss Chalet. The team will help you identify what makes the most sense for you. 

What support will I receive when buying a franchise? What is the ongoing support like?

During the purchasing process, you’re going to need support – especially if you’re getting into franchising for the first time. Then, once you’re up and running, the support needs to continue. That’s where the benefits of having a franchising partner like Recipe come in. Franchising with Recipe means you get a competitive advantage when you decide to work together. Recipe supports over 1,200 restaurants which ensures a franchisee will benefit from our economies of scale, exclusive partnerships and robust support system

How does the franchisor and franchisee relationship work?

It’s important to understand how the relationship between franchisor and franchisee will work. Both sides are responsible for making the business a success, so it helps to know who is responsible for what throughout the relationship. For example, who handles what tasks in regards to the pre-opening of your location? How is marketing handled, both pre-opening and on an ongoing basis? A good franchising opportunity will support potential franchisees with hiring support, new business support and ongoing marketing.

Want to learn more about what it means to franchise with Recipe Unlimited? Contact us below and we’ll be happy to set up a call.

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