Food franchises continue to enjoy strong business thanks to one main reason: hunger. It hardly matters whether it’s a cafe, snack food stall, or full-service restaurant. People need to eat. Food businesses that offer either a novelty food item or favorite comfort food, in particular, have an edge over the competition.
Round Table Pizza, which offers pizza restaurant franchise opportunities, can attest to the continued growth of restaurant businesses. It notes that the pizza restaurant industry alone generates $44 billion in sales.
The restaurant industry landscape makes it one of the top choices among people interested in opening a franchise business. Current trends all point towards better opportunities, as well.
More Americans Are Eating Out
Home cooking’s popularity in the US is slowly declining. A recent survey reveals that only 10 percent of the respondents love to cook, while 45 percent said they hated to cook. This contributes to the rising number of Americans who eat out and, in turn, helps sustain restaurants.
The improving economy is allowing more Americans to indulge in dining out, as well. Sales of food and drinking establishments went up by 1.3 percent in July, reaching a total of $61.6 billion. Consumers are choosing to eat out despite grocery staples like ground beef, cereal, and milk being a more economical option. They’re willing to pay a premium rather than prepare food themselves.
Greater Odds of Survival
Restaurant franchises have better odds of survival in the business compared to those that start from scratch, as well. For instance, while more independent pizza stores began operations last year than franchise stores, more of them also closed its doors. In fact, there were more independent pizza store closings than there were openings in 2017.
The number of pizza restaurant franchises stores, on the other hand, only increased. This may be due to the resources, training, and support that franchisees receive from their franchisors.
Better Opportunities and Resources
Rather than starting completely from the ground up, restaurant franchisees start with a recognized brand name and an established business model. Unlike independent restaurants, franchisees also receive strong support, training, and marketing assistance. Franchisees won’t have to rely on trial and error methods or conduct in-depth a preliminary business research, as well — after all, most of the work has already been done for them by their franchisors.
If you’re an aspiring restaurateur, now may be one of the best times to take the plunge and invest in a franchise. With the support and resources a franchise provides, as well as hard work, your success is within reach.