More and more, anyone who has a desire to open a business of their own are finding that opening a restaurant franchise is quite profitable. It really is predicted that restaurant sales will reach $577 billion in sales by 2010. The restaurant business industry now employs 8% of most workers employed in the United States. That involves about 11 million people, and makes them the biggest employer next to the federal government.
Restaurants have already been satisfying the hunger of individuals for a long time, and restaurant franchising is just about to add to the growth of the. In 1950, Colonel Harlan Sanders introduced his Kentucky Fried Chicken franchise and built a chain of over 600 restaurants by 1960. McDonalds was franchised in 1955, and so were House of Pancakes, Tastee Freeze, Dairy Queen, and Dunkin Donuts.
Baby boomers (people born between 1946 and 1964) are often the folks opening new restaurants and junk food establishments. They will have sophisticated tastes and the money to make their ideas possible. They demand fresher ingredients, healthier dishes, and vegetarian options. Baby boomers are credited with setting the pace for what does and doesn?t work with regards to successful restaurants. If they dine out they want top quality, no matter where they are eating.
Increasing numbers of people are holding regular jobs, leaving little time to get ready meals in the home. Quick serve restaurants continue to be fueled by the consumer?s ever increasing need for convenience. More than half of most adults say they’re busy, and convenience is really a critical section of their lives.
While older consumers demand quality, younger customers want convenience. 55% of consumers between the ages of 25 and 34 admit they’re usually in a hurry and want fast service. This sparks the growing need for quick service restaurants. Takeout restaurants may also be a growing trend. 78% of all households in the usa use take out or delivery service at least once a month. These folks consider themselves very value conscious.
Many investors are buying into co-branded franchises. Co-branding identifies franchising two or more different brands in a single location (Taco Bell, Pizza Hut, & Kentucky Fried Chicken). All three are housed in one building, rather than building three different restaurants. These restaurants are responsible for more than 29,000 restaurants, and much more are popping up at all times. Additionally, there are multiple franchising concepts with Dunkin Donuts and Baskin Robbins in exactly the same building.
pâtisserie take their products overseas. Subway has nearly 800 international franchises (not counting Canada). If you add Canada they number around 2,000. How big is the company has helped with their popularity in other countries.
Whether you are selling sandwiches across the sea, or have an upscale dining establishment uptown. The outlook looks strong for food franchising in the next ten years. Provided that consumers continue steadily to eat at restaurants, the franchise opportunity is a gainful one.