Ten Reasons a Restaurant Franchise is a Good Investment in this Economy.
Franchise Promises Success in Shaky Economic Times
San Ramon, CA (December 9, 2008) With the labor market now the worst it’s been since the two prior recessions in 2000 and the early 1990s, and record numbers of people being laid off, a California-based pizza franchise offers a path for entrepreneurs to rise above the financial slowdown.
Straw Hat Pizza and Restaurants is building a road-map of success for aspiring business owners, despite these shaky economic times. Poised to celebrate its 50th anniversary next July, the chain plans to nearly double in size to more than 100 restaurants by the end of 2009 expanding nationally to Arkansas, Arizona, Nevada and beyond.
“For the recently unemployed and others hoping to escape the financial meltdown and push through without missing a beat, our kind of franchise offers a potential course of success,” says Jonathan Fornaci, president of Straw Hat Cooperative Corporation. “It also is empowering to be taking part in business growth and knowing you are doing what you can to ease the unemployment crunch.”
Here are ten reasons a restaurant franchise is a good investment in this economy:
1. Franchises typically do better tough times. Franchise businesses historically fare pretty well in good economic times, but also in slower economic times. Franchises have learned how to survive in tough markets and even profit during times of recession.
2. Takes ownership of your future. Best part: as your own boss, you won’t get laid off.
3. Boosts your income. Starting a franchise turns owners into an entrepreneurial change maker. Because a franchise comes with a fully-developed business model that has already proven successful in a number of different places and under a number of different circumstances, there’s a good deal more security than any other kind of entrepreneurial endeavor.
4. Invests in a recession-proof American staple. Most franchises have a fully-developed track record that instills instant faith and is one of the kinds of businesses that many professionals consider recession-proof. Restaurant franchises especially are favorable during tough times, because Americans still spend on affordable dining.
5. Leverages big business marketing. When a business is associated with a franchisor they get help in corporate marketing.
6. Focuses your hard work on businesses with solid infrastructures. In bad economic times, it’s a good idea to focus on a tried-and-true brand and not a good idea to hop onto anything that looks like a fad.
7. Greens your business by investing in your local community. Prospective owners can look at the value local franchise restaurants can be, as typically they are community-based hubs that provide an inexpensive meal and a respite for families in hard economic times.
8. Offers job and career opportunities. Recessions intensify corporate lay-offs, making franchise ownership an attractive opportunity for those seeking new jobs and income.
9. Provides training and start up support. A major advantage is that franchises provide training and management services for the property. Because a franchise has a vested interested in the success of each operation, the corporation provides all the necessary training and helps with day-to-day decision making.
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10. Offers competitive advantages and helps secure funding. Franchises typically offer lower royalty and advertising fees over their traditional restaurants. And, they help prospective owners secure funding for the purchase.