What you need to know about buying a fast food franchise
Fast food franchise brands still remain the most popular choice when it comes to researching a franchise to buy. Whether it be burgers, chicken, pizza, kebabs, pastries...and even salads...there is something for everyone.
This popularity is mainly due to the wide-spread recognition of many of the brands. If you ask someone to name a franchise, the majority are bound to choose a food franchise as these are the brands we see on our high street and in our shopping malls. McDonalds, kfc, Burger King are just some examples of a fast food franchise; a franchise that benefits from fuss-free menus, quick service and a quick turnaround of customers.
People are loyal to fast food brands, mainly because they know what they are getting. As menus and recipes tend to be standardised across each network, with strict procedures in place to ensure that the same food products are produced with no deviation from the menu, you can be sure that you receive the same quality of food wherever you go. A Big Mac in London will taste the same as a Big Mac in Aberdeen!
Though if you do fancy buying a fast food franchise, you should expect to pay pay for the privilege of owning one. Because of all the advantages named above - brand recognition, prime retail location, customer loyalty - you will be expected to pay more than the majority of other franchise types. The bigger the franchise network, the bigger the investment!
Another consideration should be how you plan to develop your business or how the franchisor expects you to develop it. Most of the top fast food franchise brands only look to recruit those with the finances and ambition to develop a multi-unit operation. They would expect for a franchisee doing well to go on and open more units over a pre-defined period of time. This is a great opportunity for those looking for a more substantial franchise investment.
As well as fast food franchise brands already in the U.K., there is also the opportunity to buy a master franchise opportunity. These are franchises that having proved successful in their home country, are looking to develop their brand into new markets. McDonalds, Dominos Pizza, KFC etc all started out in this way which recent brands such as Krispy Kreme, Denny’s and Tim Hortons all using master Franchising to expand into the U.K.
Another popular trend in the U.K. is the emergence of the healthier fast food franchise concept. Not only are many franchisors now moving away from the fast food title and choosing to be called casual dining or quick service restaurants but many are adopting a more healthier approach to fast food. As well as healthier options, brands are adapting their menus to also suit those with food allergies or intolerances, as well as cultural demands.
Fast food franchises, or whatever title brands choose to use, still remain as popular as ever. Consumer patterns may be moving towards the need for greater choices and healthier options but consumers and prospective franchisees, still remain loyal as ever to fast food franchising.