Month: May 2023

HOW TO OPEN A FRANCHISE RESTAURANT

Posted on by administrator

Guest Post by Joel Libava

Early conversations people have when they’re thinking about getting into franchising often involves opening a franchise restaurant business. Why?

Because restaurants are busy. Americans love dining out. And the data proves it.

According to Statisa.com, the average U.S. household spent $3,030 on dining out in 2021. And while that’s less than the numbers from say, 2019 (because of the pandemic), spending at restaurants is trending up.

The bottom line? U.S. consumers love dining out.

The good news? There is a way for you to get some of that money being spent on dining out. Open a franchise restaurant!

Are You the Right Candidate for a Franchise Restaurant Business?

Before you get too far down the “I want to own a franchise restaurant” path, the first thing you need to do is make sure you’re a good fit for a franchise business. How?

By taking a hard look at yourself with regards to your willingness to strictly follow a franchise operating manual.

What’s in a Franchise Operating Manual?

Have you ever seen a franchising manual for a restaurant franchise?
If not, here are some of the items that are included in it:

  • Menus
  • Recipes
  • Inventory requirements
  • Décor
  • Signage
  • Technology requirements
  • Marketing/advertising templates
  • Customer service standards

And more.

But how will you know if you’re right for franchise ownership? Look at your past experiences as an employee.

For example, did you follow the rules laid out by the company? Were you okay with doing so? Will you make a commitment to do so as a franchisee?
If your answer is yes, going the franchise route could end up being a satisfying endeavor.

But which franchise should you open?

How to Choose a Franchise to Open in the Food Service Space

This part of the process involves deciding on what type of restaurant you’d like to own. Some of the choices today include:

  • Fast food
  • Breakfast food
  • Healthy food
  • Specialty food
  • Full-service

In most cases, I’ve found that the choices people make when they buy a food franchise have more to do with familiarity and comfort than anything else.

But there are exceptions.

For instance, people who dedicate their lives to eating healthy aren’t going to buy a franchise that specializes in fried chicken.

And newer categories, like breakfast food, attract a fair share of interested franchisees. That’s because it’s perceived as being new. Less competitive.
But what if you’re someone who wants more than a typical restaurant franchise can offer? As in way more?

Open a Full-Service Franchise Restaurant

If I could tell you one thing about owning a full-service restaurant business, it’s this:

“ Full-service restaurants have multiple high-dollar streams of income coming in, day and night. Take Twin Peaks for instance. We’re open from 11:00 am to midnight on weekdays, and until 1:00 am on weekends.

That means our excellent food, our famous 29° beer, and our hand-crafted cocktails and beverages are bringing in revenue more than 12 hours a day,. That’s a huge advantage over other restaurant concepts!

But there’s so much more you get when you become the owner of a full-service franchise restaurant like Twin Peaks.

What You Get with a Full-Service Food Franchise

Franchisees of full-service restaurant franchises have access to a plethora of systems, tools, and resources to help them operate a successful operation. Some of these include:

  • A proprietary operating manual
  • Restaurant POS systems
  • Software/hardware
  • Food and Beverage inventory systems
  • Proven marketing/promotional systems
  • Menus
  • Real estate assistance
  • Support from headquarters

And more, including an established franchise brand you can leverage to help you succeed as a franchisee.

Would you like to open one?

On Opening a Franchise Restaurant

Let’s say you’re impressed with a specific brand in the restaurant space. What are your next steps?

1. Contact franchise headquarters.

These days, most people fill out a short online “Request Information” form.

2. Talk to the franchise development representative.

Once you’ve requested information from the franchisor, you’ll receive a follow-up asking you to schedule a time to talk with your rep.

During the call, your franchise representative will give you a rundown of the opportunity, along with next steps. And yes, you’ll be able to ask questions about the business, territory availability, the brand, and more.

3. Go through the process.

The process of exploring a franchise opportunity is a step-by step, week-by-week process. And as you’ll see, the steps you need to take will be spelled out.

For example, in week #1, you may go over branding and positioning. For instance, what makes the franchise special?

Week #2 may consist of going through their product offerings, pricing, and inventory requirements (in this case, food, and beverages). And so forth.

By the end of the process, you’ll know practically everything you need to know about the brand and the opportunity.

4. Talking to franchisees.

Part of the franchise buying process involves research. And one of the best ways to conduct your due diligence is by talking to (and visiting) franchisees.

Remember, they’re the ones who are doing what you’re thinking of doing. So call them!

5. In most cases, you’ll be invited to headquarters to meet the executive team.

Visiting franchise headquarters is a great way to see the operation in action…in real-time. You’ll meet department heads, find out who’s going to support you, and get a feel for the company and the culture.

6. Making a Decision.

The final step in the franchise purchasing process is for you to say yes or no. And while it’s true that opening a franchise restaurant is a big deal, if you truly like the brand and the people behind it, and the franchisees are happy and profitable, your decision may not be that difficult.

This post was written by The Franchise King®, Joel Libava. He’s a 20+ year industry veteran, the author of two books on how to buy and research franchises, and a Franchise Ownership Advisor.

Table of Contents

THE ULTIMATE GUIDE TO FINDING & HIRING A WINNING TEAM

Posted on by administrator

Everyone wants a winning team—especially now when many restaurant franchises are having challenges with staffing quality candidates. But what many people fail to realize is that winning teams are made, not just hired…

You can hire amazing candidates who later become mediocre employees due to the wrong culture and leaders. And although winning teams are made, hiring the right people is still the first step.

Hiring a winning team is both a science AND an art—especially in the restaurant industry. It requires maintaining a consistent process that is executed by all hiring managers to achieve results. Oftentimes, it is how we hire people that dictates their level of success within an organization, not who they are when they applied. During the hiring process, it is your job to set the tone and your applicant’s job to make the decision to either join your franchise’s culture…or not.

Having a winning team begins by hiring people who will succeed and thrive in your organization. There are four critical steps for a successful, long-term hire:

1. Define what your ideal team member looks like.

The first step toward a successful hire is to understand and gain clarity on who it is that your restaurant franchise is looking for.

Defining a candidate profile will provide you and your hiring managers with a baseline that you can refer to when comparing candidates. This is a critical part of the hiring process. When we neglect this step, we often end up hiring the wrong people, wondering later why they didn’t stay or succeed.

When thinking through who your ideal team member is, you need to define every aspect of what that person needs to be like. It is true that not every candidate will match that vision 100%, but the closer you get, the better your chance of success.

Some details in the restaurant industry are non-negotiable—things like availability, experience, attitude, willingness to wear a uniform, etc. When defining your ideal team member, clarify which details are non-negotiable and which are more flexible.

Providing clarity will prevent unfulfilled expectations and disappointment on both sides, helping avoid broken trust, poor performance, and eventually, separation. Do yourself a favor—define your expectations and live by them.

2. Identify reliable recruiting resources.

There is a very real staffing shortage in the restaurant industry that is impacting 1000s of franchisees. This means that we need to be creative and resourceful when finding great candidates who are willing to work on a winning team. To find these gems, you need to put in the work, doing what others are not willing to do.

It is true that most franchise recruiting nowadays is done via social media and online platforms. This may be the best way to reach the most people in the fastest way, but how many reliable and successful recruiting resources are we leaving on the table because we are unwilling to make the extra physical effort to use “traditional” and “old-fashioned” ways? If we want to truly solve our staffing issues, we need to think outside the box and look back toward old methods.

Think of tactics like seeking referrals, asking current employees to invite their friends to interview, reaching out to local universities, posting in grocery stores and community boards, etc. These tactics all have great value.

Every restaurant franchise community is different and unique. Each of your units is in a different community. Get to know your community. Get involved. Many unexpected sources will emerge, and they are most likely going to be different for each business unit. Your goal is to become the business in your neighborhood that your ideal team member thinks of when looking for a new job.

3. Interview to discover.

Interviewing people is an art. It requires following a specific process and objectives to achieve the ultimate goal: to learn if they are a fit for…

a) Your company’s needs & requirements
b) Your culture and behavioral expectations
c) The job description of the position that you are filling

These discoveries need to be made in 30 minutes or less if you are interviewing many candidates for the job. To do this, you’ll need to ask the right questions. Think back to the employee profile you defined in step one, your franchise’s cultural needs, and the job’s requirements. Thinking through these details will help you define your questions carefully, and asking well-thought-out questions will make you the most effective interviewer possible.

4. Onboard to set the tone.

Hiring a winning team doesn’t end with an offer letter. The first experience new team members will have with your restaurant franchise is during the onboarding process. During the interview process, these people only knew your company from the perspective of a candidate and an outsider. Now, after accepting the position offered to them, they get to know the real company, and learn what they actually said yes to.

If you have experienced “no-shows” or new employees resigning within their first week of training, this may be a sign that you have an issue with onboarding.

Remember, onboarding is a new employee’s first experience with your restaurant, so if it’s not great, they may become disappointed and not come back. Managers can lose great team members when their expectations of an organization do not meet their reality. Making a good first impression is essential. Therefore, it’s important to ensure that individuals have a positive initial onboarding experience with your organization.

You want to make sure that, by the end of their onboarding and initial training (especially on day 1), your new team members go home feeling happy about saying yes to your job offer.

If you follow these four steps, you will build a solid foundation for hiring a winning team. However, remember that a winning team is made, not hired. Once you hire the right people, the way to build a winning team is by maintaining the right culture and the right leaders to foster success, positivity, and a healthy work environment.

BENEFITS OF BUYING A RESTAURANT FRANCHISE

Posted on by administrator

Guest Post by Joel Libava

Considering getting into the restaurant business? You don’t have to start your own concept to get involved…

In fact, there are many benefits of buying a restaurant franchise versus starting your own restaurant. Today, we’re unpacking five of those reasons.

Benefit #1: There’s a Concept for Everyone & Every Goal

One of the reasons it’s exciting to get involved in the restaurant franchising space is that there are so many choices. This impressive variety increases your chance of finding a concept that aligns with what you want in a business. It’s a huge benefit for today’s entrepreneurs!

With that in mind, it’s important for you to be aware of the different franchise restaurant types available these days.

They include fast food, fast casual, casual, and upscale dining. And there are solid brands in each category. But which one is for you?

That depends on what you want in a food franchise.

For instance, you may want to own a fast-food franchise, because there’s usually a high level of name recognition, and you see customers spending their money in these venues. Especially where drive-thru service is a huge part of the business.

Then there are fast casual food franchises. They’re the restaurants that serve more upscale food that tends to take a little longer to prepare and serve. Plus, customers can dine-in or order items to go.

Next, you have casual dining. Think burgers, wings, salads, and more. Plus, some of these franchises, like Twin Peaks, are full-service serving beer and liquor, which dramatically increases the average amount of money customers spend.

Finally, there’s a sector in restaurant franchising that focuses on upscale dining. Think high-priced steaks and mid to high-priced wines. If you’ve always liked “fancy” restaurants, franchise opportunities in the upscale dining space may be worth a look.

Benefit #2: You’re Not Starting from Scratch

Starting a restaurant from the ground up can be quite costly. In addition, it’s extremely time-consuming. It can take hours of research and thousands of dollars to prepare yourself to open and operate a business.

Assuming you have a dining concept in mind that you want to start, here are just some of the things you would need to spend your time and money on:

  • Restaurant design
  • Menu selection and design
  • Employee uniform design
  • Kitchen fixtures
  • Dining room fixtures
  • A point of sale (POS) system
  • Real estate selection
  • Training and operations manuals
  • Marketing plans and budgeting

And much, much more.

But if you go with a restaurant franchise, everything’s already been researched, implemented, and tested.

That includes:

  • Restaurant design and interior
  • An already-written operating manual
  • Technology that’s selected and is currently in use
  • Restaurant-specific equipment
  • Approved vendors & relationships
  • Marketing plans and toolkits

Benefit #3: In-Depth Training & Support

If you become a franchisee, you’ll be able to participate in informative, first-class training programs.

Some franchisors provide online training or online pre-training, but oftentimes, training takes place at the franchise company headquarters in a hands-on setting.

If offered, pre-training usually takes place well before you travel to headquarters for intensive in-person training.

Online training modules may include:

  • History of the brand
  • Founder’s business backgrounds and philosophies
  • How to find the right real estate
  • An introduction to the operations manual
  • Franchisee technology

In-person training provides you with all the things you’ll need to know to operate your restaurant.

Some in-person training topics may include:

  • Comprehensive operating manual training
  • Food preparation processes
  • Accounting procedures
  • Personnel and payroll
  • Expenses
  • Human resources
  • Point of sale (POS) system training
  • Customer service
  • Marketing/advertising
  • Social media
  • Grand opening preparation

All of your training is designed to equip you so that you can confidently operate a profitable restaurant franchise.

In addition, you’ll probably spend time in a restaurant location close by, so you can get some hands-on training and observe how a successful restaurant franchise runs.

This entire training process is to ensure that you learn the inner workings and operations of the franchise. This comprehensive process is sure to set you up for success as the owner of a new restaurant franchise.

Benefit #4: Corporate Marketing & Branding

Franchisees worldwide benefit from branding, along with proven, ready-to-go marketing materials.

And if you become a Twin Peaks restaurant franchisee, your restaurant will benefit greatly from our well-oiled branding and marketing initiatives.

For example, all Twin Peaks franchise owners receive:

  • National and local branding & media placements
  • Social media guidance and support
  • Annual marketing calendar planning, asset distribution, and consistent promotional support
  • Real-time industry insights and trends
  • A powerful online presence, SEO management, and Local Store Marketing support
  • Menu & pricing management
  • Online Ordering program support

Bottom line?

Becoming the owner of a restaurant franchise means you’ll spend less time coming up with marketing and branding initiatives and more time implementing them. Especially since they’re proven to get customers in the door who spend money and have fun!

Benefit #5: The Franchise Industry Is Powerful!

Another reason to enter restaurant ownership through franchising has to do with the numbers, because they’re huge.

For instance, according to Statista, it’s estimated (in 2022) that there will be around 792,000 franchise establishments in the United States, outputting $827 billion and employing 8.5 million people.

Furthermore, according to the IFA’s latest report, the franchising industry will continue contributing 3% to the United States’ Gross Domestic Product (GDP). What does that mean for you?

It means you’ll have the proven power of franchising behind you when you start your restaurant business. It’s the type of power that independent restaurants just don’t have.

A perfect example of this power is buying power. Here’s what I mean.

When you’re a franchisee, you’re part of a group. In the case of Twin Peaks, a 90+ location group. That gives your franchisor a lot of power to negotiate bulk (and lower) pricing for things like restaurant equipment, fixtures, and supplies. The result? Those lower prices are passed on to you.

Exactly the kind of prices you couldn’t get if you were to start an independent restaurant business.

Become a Twin Peaks Franchise Owner

Twin Peaks is more than a restaurant. It’s an experience. One in which descriptive words and colorful images can only go so far. It’s something you need to experience in person.

And with 90+ locations in the United States and Mexico (and other international locations in the future), it’s becoming easier for more people to see what Twin Peaks is all about.

So, if you’re thinking about becoming the owner of a restaurant franchise, and you want something special and out of the ordinary, the franchise development team at Twin Peaks would love to hear from you!

And speaking of “International,” Twin Peaks recently became a member of the International Franchise Association (IFA), the largest, most powerful association in all of franchising.

This gives Twin Peaks industry-wide visibility, instant access to top franchise suppliers, and a large community of like-minded franchisors who want to grow their businesses nationally and internationally.

With that in mind, if you’d like to learn how to become the owner of a Twin Peaks restaurant in the U.S., go here.

And if you’re interested in learning about our international opportunities, visit this page.

Wrapping Up

To conclude, there’s a slew of benefits that come with restaurant franchising.

For starters, people who are looking at restaurant franchises like to have lots of choices in the type of restaurant to own. In this case, there are hundreds of different food concepts to explore.

Secondly, aspiring franchisees like the fact that there’s training, marketing, and operational support from day one and beyond.

And let’s not forget the unmatched power franchising brings to the table.

The restaurant franchise table.

This article was written by The Franchise King®, Joel Libava, a 20+ year industry veteran, author of two helpful books on how to buy and research franchises, and a Franchise Ownership Advisor.

Table of Contents

HOW ONLINE DELIVERY SERVICES HAVE CHANGED THE FRANCHISE GAME

Posted on by administrator

If you’re thinking about buying a restaurant franchise, it’s essential to keep an eye on the latest industry trends.

A 2021 research study by Zippia shows that 60% of Americans order delivery at least once per week and that the average American spends a total of $67 on takeout per week. As a whole, online food ordering currently accounts for close to 40% of total restaurant sales.

The common thread? The COVID-19 pandemic. This life-altering event changed the trajectory of the restaurant industry, pushing online ordering to the head of the table. That’s why, today, we’re breaking down the growth of online ordering and the many ways franchisees can benefit from it.

Let’s dig in.

The Growing Popularity of Online Delivery Services

In the world of restaurant franchises, there has been tremendous growth in online ordering. And this trend is only becoming more and more popular with both consumers and restaurant owners.

Because of this, it’s essential that today’s restaurant franchisees focus on online ordering and delivery services.

Even though customers aren’t dining on premises, their entire experience – from ordering to delivery – continues to be a reflection on the franchise business. These digital experiences are just as essential in retaining customers and building positive brand love.

According to Grand View Research, “The global online food delivery market is expected to grow at a compound annual growth rate of 10.8% from 2022 to 2028 to reach USD 388.74 billion by 2028.”

The data is clear: online ordering and delivery aren’t going away any time soon, and the franchises that continue to push the quality of this service will thrive.

How Franchise Restaurants Benefit from Online Delivery

There are several ways restaurant franchises benefit from the increasing demand for online ordering and delivery. They include:

Minimal Capital Expenditures

The great thing about online ordering is that franchisees can increase revenue without investing in additional kitchen equipment. After all, the kitchen is already putting out food, so employees just need to transport it to the delivery area for driver pickup.

Of course, there can be other hurdles – selecting the right online ordering technology is important, too.

Take Twin Peaks for example. Their online ordering process is seamless thanks to their partnership with Olo, a technology powerhouse in the direct digital ordering space. This partnership allows Twin Peaks to easily connect their restaurant to the online ordering business without having to create their own platform.

Instant New Customer Data Collection

Collecting data from customers can be challenging, to say the least. But people will happily input their information to order food online, resulting in an easy data collection tactic for franchisees.

This organic way of collecting first-party data from real customers allows you to both grow your email list and have the information you need to retarget customers in the future.

For instance, you can instantly send customers emails about upcoming promotions and events taking place at your restaurant. And if you’re wondering if email marketing is still effective, it is. According to Salescycle, “50% of people buy from marketing emails at least once per month.”

Franchise Buying Tip: As you’re looking at potential franchises, make sure to find out how the franchisor uses email marketing to help franchisees get customers in the door or ordering food online.

Ability to Extend the Reach of Your Restaurant Franchise

Having a strong, local presence online can make a big difference in who you reach. When potential customers search for “food near me” on their mobile devices, you want to make sure your restaurant is the result they find.

With that being said, when a customer clicks the link to your restaurant’s website and places an online order, the process still needs to be quick and painless. Why? Because according to Olo, “The fewer hoops guests have to jump through, the more likely they are to place a delivery order.”

In other words, having effective and easy-to-navigate online ordering and delivery technology matters a lot.

For example, the Twin Peaks restaurant franchise partners with Olo to provide customers with a wide range of pick up and delivery options like direct restaurant ordering, Google Ordering, Doordash, Uber Eats, Postmates, and Grubhub. With technology like Olo, all online ordering is managed in one place, integrating all delivery technology.

Wrapping Up

There’s no doubt: online ordering has changed the game for restaurant franchises. Just a few years ago, this stream of revenue didn’t exist, and now, it presents a massive opportunity.

Look to the future.

Not only is online ordering cost-effective, but as the data has shown, it will only continue to grow in profitability. If you are a franchisee or considering becoming a franchisee, now is the time to invest more into your online ordering services.

Interested in Getting Started?

Not only have we established that online ordering is an essential service for restaurants, but we’ve also shown how important it is to have a streamlined delivery program in order to be a leader in the space.

That’s why restaurant franchises like Twin Peaks have implemented Olo into every restaurant. This partnership makes it easy for franchisees to offer a high-quality service to customers and bring in more revenue.

Interested? Learn more about the Twin Peaks restaurant franchise opportunity.

Table of Contents

Get Started Today

Inquire Now