Introduction
Franchising your restaurant brand is a good option for the question: – how to grow restaurant business. If you want to grow your restaurant business in multiple locations in India without investing your money a (As Franchisee/investor will be investing in the new outlets). Then franchising your restaurant is the best option for your restaurant business!
Why should you franchise your restaurant business?
Franchising your restaurant business has many advantages like you don’t have to invest your money by building multiple restaurants. Your franchisees will invest the money for your restaurant brand.
Major advantages of franchising a restaurant business
- Brand awareness and visibility in multiple locations.
- Monthly Royalty fee from franchisees increase your additional income which you can invest in marketing and advertising your restaurant brand.
- Increase of your restaurant outlets without investment (Investment will be done by Franchisee)
When should you Franchise your Restuarant Business?
Franchising your restaurant brand has a lot of advantages, but there some eligibility criteria to qualify for Franchising your restaurant business
Restuarant business should be profitable for at least 3-4 years.
Restaurant should proper SOP (Standard operating procedure).
How to grow restaurant business by Franchising Complete Process
1.Registration Trademark/TM
Your restaurant business should be legally registered and own the Trademark., so that the franchisee / other restaurant brand cannot claim your brand And avoid legal conflicts.
Also it increases the trust among the investors who wish to take your restaurant franchise.
You can hire brand agencies who can register your restaurant brand
2. SOP (standard operating procedures)
Restuarant willing to expand through franchise must have a
SOP (standard operating procedures) like proper vendors for raw materials, documentation of your recipes like what kind of oil, flour etc to maintain same quality and taste
Franchises like Domino’s Pizza, MC Donald, Pizza Hut has same vendors, recipes, ingredients to maintain same quality and taste in all outlets
3.Legal Documentation
Restaurant brand should be legalized to avoid Franchisees taking advantage like modification in recipes, ingredients which results in degradation of brand name and bad review among consumers. And due to bad review of brand all other brand outlet will get spoiled among customers
4.Profitability
Before franchising your restaurant Make sure your brand is profitable since 3-4 years, so that investors can get convinced at your numbers!
Caution: Don’t have the idea of franchising your restaurant if your restaurant business is is in loss.
5.Promotion of Franchise
When it comes to promoting your franchise opportunity, you want to target potential franchisees who are a good fit for your brand. Here are some effective promotional methods:
Digital Marketing
Franchise Website: Create a dedicated website showcasing your franchise opportunity. Highlight the benefits of owning a franchise, success stories of existing franchisees, and information on the investment required.
Search Engine Optimization (SEO): Optimize your website content with relevant keywords to ensure potential franchisees can easily find you online.
Content Marketing: Develop informative content like blog posts, articles, or webinars that address common questions and challenges faced by potential franchisees.
Social Media Marketing: Utilize platforms like LinkedIn or Facebook to connect with potential franchisees. Share industry news, success stories, and company updates.
Targeted Advertising: Consider paid advertising options on search engines, social media, or franchise industry websites to reach a qualified audience.
Franchise Events
Franchise Shows and Expos: These events offer a great platform to connect with a large pool of potential franchisees. Showcase your brand and have representatives available to answer questions.
Franchise Conferences and Webinars: Participate in industry conferences or host webinars to educate potential franchisees about your franchise opportunity.
Public Relations
Press Releases: Issue press releases announcing new franchise openings, awards, or other milestones to generate positive media coverage.
Media Relations: Build relationships with journalists in the franchise industry to secure coverage in relevant publications or websites.
Other Promotional Methods
Referral Programs: Encourage existing franchisees to refer qualified candidates for franchise opportunities.
Industry Partnerships: Partner with industry associations or publications to reach potential franchisees.
Franchise Directories: List your franchise opportunity on online franchise directories to increase visibility.
Testimonials and Case Studies: Showcase success stories of existing franchisees to demonstrate the potential of owning your franchise.
6. Support For Franchisee
Once you successfully acquire new franchisee You need a team to support Franchisee as he may have no knowledge about restaurant industry, how to recruit manpower and handle other operation. If you provide good support to your Franchisees then, there is a greater chance of successful franchise chain as there will be many investors willing to acquire your restaurant franchise
Conclusion
Franchising your restaurant business can be burden-free if you hire a Franchise consultant to guide and counsel you through the process of Franchising your restaurant business. We Strategizer can help you Franchise your restaurant business, Since Our CEO and Founder Mr. Iyyappan Rajendran has consulted and successfully Franchised 180+ Brands. Book here with us to get 1-1 Consultation Now and start you Restuarant Franchising Journey.
