Things to consider before rolling out for a restaurant franchise
Who does not like Greek, Mediterranean cuisine? If you are considering opening a Greek cuisine restaurant, will it be a profitable business? On the other hand, do you want to take an established Greek restaurant franchise?
Franchising is a very attractive business model for today’s entrepreneurs, especially for restaurants. While it is true that acquiring and operating a restaurant franchise can be very profitable, not all franchisors are the same. Some questions are inevitable that you should take into account before signing any franchise acquisition contract. These are several points to consider previously.
What are the real costs associated with a franchise?
Starting this type of business involves a series of expenses.
The acquisition of the franchise
This money must be disbursed to acquire the right to a restaurant brand, established market, use the logo, etc. It is usually not excessive and is usually around $5,000 to $50,000.
Construction expenses
This expense may surprise you. If you are going to acquire a restaurant franchise, the normal thing is that you are in charge of setting up the premises and adapting it according to the systems and methods required by the franchisor. It can mean hiring an architect, renting or buying the premises, remodeling, and more. All of this could easily be hundreds of thousands of dollars.
Other costs
Among them, the rent of the equipment and infrastructures, the monthly fees for advertising and the continuous royalties.
Is it a profitable option?
We know, acquiring a restaurant franchise is not easy, and the amount is practically high. However, you have an option. If you apply for The Great Greek Mediterranean Grill restaurant franchise, you not only get an established brand, market, and a team to help you, but also a responsible franchisor. The Greek restaurant franchise cost explained –
- Franchise fee: $39,500
- Liquid capital: $180,000
- Investment low: $400,000
- Investment high: $600,000
Visit the website, fill up the form, and get in touch with the franchisor for more information.
How much can you earn with a franchise?
Only a few franchisors offer this type of information, coupled with the formula to achieve such profitability. The reason is obvious, if you did not get those profits, you could sue him. For this and other reasons, it is essential that you contact as many existing franchisees as possible before going into business. Collect information and investigate – how much do they earn? Which franchisor do they like to work with the most? Are they satisfied with their choices?
What about exclusivity
In all likelihood, you will not want any of the same chain establishments in your location area. You need to find out the size of the territory to which you will have exclusivity, the type of commitment you will acquire, and how long. Moreover, if you do not have the benefit of exclusivity, you should know that sometimes it could also be profitable to share an area. If the franchisor requires you to purchase supplies directly from them or from an approved distributor, it is best to have a good price agreement and include you as well.
