| Most fast food franchises are reporting growth and | | | | of course, price. |
| continue to be extremely successful, despite the | | | | Co-branded franchises are increasingly popular these |
| economy. Drive around your local business district on | | | | days. Taco Bell and Pizza Hut have been known to |
| a Friday or Saturday evening and you’ll notice that | | | | share the same building, giving the franchisee a wider, |
| parking lots are always nearly full. The fast food | | | | more diverse customer base, while increasing |
| industry continues to move full-steam ahead. The | | | | profitability simultaneously. |
| industry's annual sales have nearly tripled over the last | | | | With the trend toward healthier lifestyles, the fast |
| 15 years, easily surpassing the $200 billion mark in | | | | casual healthy concept has been able to thrive as well, |
| 2006. | | | | despite the downturn. Consumers are becoming |
| Although they may need to postpone that trip to | | | | increasingly concerned about the food they are |
| Disneyworld or buying that new inground pool during | | | | eating. More and more, you are seeing the greasy |
| tough times, consumers actually are more inclined to | | | | burger joints now venturing into fresh salads, fruit, and |
| splurge on convenience, especially meals, particularly | | | | vegetarian plates to accommodate those health |
| when both mom and dad are working full time jobs. | | | | conscious consumers. Again, this provides for a |
| Time starved families have little time to prepare food | | | | larger share of the market that may otherwise have |
| at home, nor do they feel like it, after working all day | | | | been missed. |
| and fighting rush hour traffic. | | | | Of course, there are some drawbacks that go along |
| Fast casual restaurants continue to be fueled by the | | | | with owning a restaurant, or fast food franchise. |
| consumer’s ever increasing need for convenience. | | | | Labor can be a challenge and turnover rates are |
| More than half of the adult population claim they are | | | | higher than in other industries. Although the initial |
| simply too busy, and convenience is a critical part of | | | | investment is higher than other business models, banks |
| their lives that they are more than willing to pay for. | | | | and lending institutions tend to be more apt to approve |
| Why a franchise rather than an independent | | | | business loans, particularly because of the higher |
| restaurant, you may ask? Respected, well known | | | | revenue that is generated compared to other business |
| brand names instantly draw customers in to your | | | | models. |
| business. They know and expect the same | | | | While you may initially question the decision to become |
| outstanding quality food when they visit a Burger King, | | | | a fast food franchisee, keep in mind that consumers, |
| whether their dining in Portland, Maine or Portland, | | | | and their love affair with fast food, is here to stay. In |
| Oregon. | | | | fact, in strained economic times, people are inclined to |
| Franchises offering "comfort foods" are thriving | | | | buy that egg muffin or hot dog as a “comfort |
| particularly well and their ability to be resilient despite | | | | food” even more. You’ll receive solid support |
| the current economic downturn is very encouraging to | | | | and training from the franchisor, not to mention the |
| potential franchisees. After all, however bad the | | | | prestige of owning a popular fast food restaurant |
| economic news, consumers still want their favorite | | | | franchise. |
| fries or take-out pizza. Although they are more likely to | | | | So, which one should I look at? An experienced |
| be trimming on the prime rib dinners, those small | | | | franchise consultant can assist you in finding the ones |
| luxuries of life are that much more significant. The | | | | that meet your financial ability, as well as provide |
| criteria for selecting a restaurant continue to be quality | | | | specific details about the key advantages of each. |
| cuisine, a well known established brand or name, and, | | | | |