Best Time To Open a Pizza Franchise: 7 Things Prospective Franchisees Look For
Article supplied by Smokin’Oak Wood-Fired Pizza & Taproom
Your restaurant is the talk of the town. Business is steady and growing. The word-of-mouth brings in locals, business travelers, and vacationers. The goal you had of working for yourself has come true.
That’s the dream. And you’re ready to make it happen. But you’re wondering if now is the right time to open a franchise. It’s true that many business owners are hesitant during uncertain economic times. But research shows intrepid entrepreneurs can not only survive uncertain economic times but thrive.
But don’t just take our word for it… Hear from two of our successful franchises who opened during the 2020 pandemic and are continuing to serve authentic, artisan wood-fired pizza to their supportive communities today – with plans to expand!
With that in mind, no one knows exactly what the economy is going to do and how that will affect business. Evaluating the opportunity alongside the potential risk is imperative. That’s why we’re sharing seven things you should look for in a franchise before investing your savings.
Financial Security
Fast-casual restaurants are highly popular today. The ones that are franchises – a step up in quality and ambiance from the typical fast-food chain — have been opening new locations faster than any other dining category.
Their popularity could be due to profit margins, which are the highest among food franchises. Fast-casual restaurants enjoy a 6% profit margin, which is the same as full-service restaurants and nearly three times better than the typical fast-food eatery.