The food and beverage industry is currently one of the largest sectors globally, estimatating to be worth an eye watering $5650 billion. The sector has proved to be extremely resilient in the face of recent economic fluctuation, maintaining steady growth and employment figures year on year.
Fast food has always been in demand, but a recent key trend within the industry, is the quest for healthier options by consumers. With many of the fast food chains now providing healthier options and alternatives to ‘junk’, the industry has also had an effect by further diversifying the range of businesses out there offering food services, with a number of smoothie, juice, salad bars and natural/organic foods restaurants popping up all over the UK and USA to meet this consumer demand.
Food is the largest industry in franchising for a reason, with its many proven business models creating an established record of success, providing franchisees with a wide range of opportunities to run businesses with a significant amount of support.
The fast food franchise sector attracts many people who are looking for a scalable business, and it’s not uncommon to see many single-unit franchisees evolve into multi-unit franchisees with several locations.
Location of food businesses is paramount – find an established brand and open a store in the right location and you have a significant chance of making a great living.
Whether you have a background in food and retail or whether you come from a corporate background, this industry really does appeal to most investors looking at franchising as a viable business option, as the potential within the industry is huge and shows no signs of slowing down any time soon.
You need to have an ability to work well under huge amounts of pressure in a fast-paced industry, whilst ensuring that customers receive the best possible service.
One thing to consider is that many fast food businesses are open seven days a week, so while you may not be working seven days yourself, it’s likely that you’ll need to be on call, just in case of an emergency (at least in the early days of the business).
Regardless of whether you have a love for food or if you just want to make a success out of your venture into franchising, investing in your own fast food franchise could be of a huge benefit to those looking for a quick start route into franchising and business ownership. There are a wide variety of brands to choose from, with investment levels to suit all budgets.