Hospitality Management Blog

How to Evaluate a Franchise Investment

franchise investment

The best thing about any franchise investment is the convenience that it affords any up-and-coming business owner. For most franchise opportunities, the groundwork has already been laid, the business has been tested and improved through time, and operational requirements are easy to prepare.

However, with the sheer number of franchising opportunities abound, you need to evaluate a franchise if it’s worth your time, effort, and money. In short, choosing the best franchise requires careful assessment and evaluation in order to fit your business needs.

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How to Start a Small Restaurant

start-a-small-restaurant

There’s nothing small about putting up a small restaurant. You may be looking at a conservative startup with a limited budget, but the amount of planning and preparation needed to pull it off may overwhelm you.

If you’re eager to start a new food business at a small scale, let the following strategies lead you to succeed in your small restaurant venture.

Here are 8 Tips to consider on how to start a small restaurant business.

1. Decide on the kind of restaurant that you will run.

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Restaurant Owner’s Guide to Growing Your Restaurant Business in 2019

restaurant business guide

It’s one thing to start a restaurant business, but it’s an entirely different monster to sustain it and make it grow. Sure, your business idea may be unique and life-changing, but you may be missing out on the right techniques to make your business bloom.

Well, we’ve got you covered! This business growth guide is designed to help restaurant owners achieve the next level of development for their food venture.

8 Techniques to Grow Your Restaurant Business in 2019

1. Focus on marketing your business right

You’ve started the nitty-gritty details of your startup business, and you’re now going into the next step towards making your restaurant expand.

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5 Actual Restaurant Promotions That Worked

restaurant promotions

Your restaurant may be dishing out some of the best food in your locality, but none of that matters if no one knows about your business. This is where restaurant promotions come in – they give you the unique power to reach your target market and keep them loyal to you.

Thankfully, marketing a food business these days has become a tad easier due to social media. However, if you don’t know how to set up the right marketing strategies, you might end up spending on gimmicks that don’t really work.

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4 Unique Small Restaurant Ideas

Have you always wanted to own a restaurant, but are afraid of investing in a large one and then having it flop? You don’t have to jump into a large restaurant business at the onset. There are plenty of small restaurants that thrive and do well in today’s market.

Check out these 4 unique small restaurant ideas:

1. Cookie Dough Shop

Edible cookie dough is all the rage right now and would make the perfect small business venture. You don’t need a large dining room and you won’t need as much equipment and inventory as you would with a full service restaurant.

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Guide to Social Media Marketing for Restaurants

If you own a business, especially a restaurant in today’s competitive markets, then a good social media strategy is a must. Did you know that there are over 200 million posts tagged #food and 23 million tagged with #drinks, food and beverage photos on Instagram? Dubbed food porn it is the one of the most popular type of content on the social media channel.

In addition, almost 90% of people are influenced by reviews and online comments. If you are not on any social media channels now is the time to get started.

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4 Overlooked Business Mistakes That Could Ruin Your Franchise

Any business venture can be risky, and even though franchise programs have some built-in safety measures, some missteps still could sink your ship. Research and full preparation before opening and hard work always are essential ingredients for any successful business.

While most franchise programs offer you some classroom and onsite training, they don’t have the time to teach you everything you need to know about being a business owner. Things like managing your finances and filing your taxes you need to learn own your own. And no one is going to force you to give the attention to the day to day operations of your restaurants it needs.

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Business Owner’s Guide to Planning Growth in 2019

When you start a new business, those first few months you are focused on making sure all operations are running smoothly and attracting customers, but you need to be thinking about the future too.

You should always have a plan for growth. This is separate from your day-to-day responsibilities as a business owner. Think of it as your long term plans.

Here is a Business Owner’s Guide to Planning for Growth in 2019 to help.

Scalability of Your Business

Even before you solidify all your plans to open your business, you should already be asking if your business is scalable.

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Franchise Consulting Firm MBB Management Secures Deal to Open 7 Tony Luke’s Stores In NYC

Tony Luke's Franchising

MBB Management, the Philadelphia-based franchising consulting partner and operations manager for Tony Luke’s, has just inked a deal to open seven new Tony Luke’s franchise locations throughout New York City, Long Island and Yonkers.

Philly icon and international brand Tony Luke’s is best known for its award-winning South Philly Style cheesesteaks. Tony Luke’s has 22 stores open across the country, and has been featured in GQ Magazine, Gourmet Magazine, The New York Times, and is a member of Philadelphia Magazine’s Hall of Fame.

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How MBB Helped Chaps Pit Beef Start Franchising for Success

To franchise or not to franchise. This is a big question that restaurant owners face when they start to make a name for themselves in their original location.

Franchising is a great way to grow your brand and expand to new locations without having to do it all on your own, but unfortunately, not every successful restaurant makes a successful franchise.

MBB Management, a franchising consulting firm based in Philadelphia, works closely with a lot of fast casual restaurant businesses including Chaps Pit Beef, Tony Luke’s, and DoDo Edible Cookie Dough & Ice Cream to help them find franchising success.

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How Can We Help You?

MBB has the tools and experience to set your business up for success.

Contact us to set up an introductory meeting.