If you have hit that sweet spot in your restaurant where your tables are filled every day and you have made a good name for yourself, you might be starting to experience the growing itch. Are you itching to expand your restaurant but not sure what the right way is?<\/p>\n
The most common ways to grow your restaurant is to open another location or to franchise. According to a recent PricewaterhouseCoopers<\/a> study, the franchise industry is a big driver in the economy and restaurants make up a big part of the industry. While these seems like a good sign not all restaurants are a good fit for the franchise model.<\/p>\n Knowing which way is better for your particular situation can be tricky. Here are some things to consider when deciding if your restaurant franchisable:<\/strong><\/p>\n When you are able to expand by opening your own second or third location, you get to keep control of every aspect of the business and of course to reap all the rewards, but it is no easy feat, requiring a lot more money, people and time to devote to this new location.<\/p>\n Franchising your business<\/a> is a good workaround to this problem. When you have people buy into your model, they become responsible for the money, people and time needed to get the franchise up and running. As the franchisor, your major investment will be in the recruitment of franchisees and in the developing of franchise documentation and setting up a support structure for your franchisees.<\/p>\n If lack of money, employees, or time is making you lean towards franchising, then consider what qualities will ensure that your franchise program will be successful:<\/p>\nWhat Are the Obstacles to Opening a New Location?<\/h2>\n
What Makes a Restaurant Franchisable?<\/h2>\n
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