When you buy a franchise, you’re buying the right to use an already-tested and proven business model.The downside to a franchise is that you give up a lot of control.If you don’t have a large stash of your own, you’ll need to look for investors and/or take out a loan.Tags: Business Plan CompetitorsBerlin Wall Essay IntroductionPsychology Research Paper TopicSolve My Algebra Problem Step By StepLean Problem Solving TechniquesSolar Energy Business Plan In IndiaTv Should Be Banned Essay
If you can find someone who owns a successful sandwich shop and is willing to mentor you - that's even better.
But this may be tough to do, since most business owners are incredibly busy people.
And it just so happens that one popular sandwich franchise is one of the least expensive to get into.
Subway’s franchise fee is just $15,000, compared to Mc Donald’s $45,000 fee.
A well-run sandwich shop will have experienced employees, good management and a steady customer base.
While this approach greatly increases your chance for success, it does take money.Use every resource you can get your hands on to learn as much as possible.Connect with the Small Business Administration, community colleges and other small-business owners. Le Dona Withaar has over 20 years’ experience as a securities industry professional and financial manager.How you advertise, what ingredients you use and what you charge for sandwiches are all set by the franchisor.The more you do to lessen restaurant startup risks, the better your chances are for success.Even if you have a degree in food industry management, there’s no substitute for hands-on experience.The best way to learn about how to run a sandwich shop is to work in one.By comparison, Mc Donald’s startup costs can easily run into millions of dollars.With a franchise, you already have name recognition, which is a huge boost in the food service industry.You have to be able to meet health and safety regulations and have enough money to hold out until you’ve developed a following.New restaurants have long been said to have a 90 percent failure rate within the first year they’re open.