If you heeded the advice "Turn your passion into profit" too literally, you might now be considering franchising a pizza business. After all, pizza is one of the most well-loved foods in the world. It is easy to eat, affordable, and has a combination of sweet, salty, and other complex flavours, offering a fun and enjoyable eating experience.
Venturing into the business world is exciting, especially when sharing your love for your favourite food with like-minded people. However, you should remember that success in the pizza restaurant industry is not a walk in the park. In fact, the Canadian Franchise Statistics shows that the country has the world’s second-largest franchise industry. It is also estimated that a new franchise opens here every two hours. In short, the competition is tough.
The good news is that you can increase your chances of success by being well-prepared and informed. Here are the common mistakes to avoid at all costs when franchising a pizza business:
- Failing to Have Backup Plans
Providing an excellent product, choosing an ideal business model, and gaining plenty of interest from the public is the recipe for a successful pizza franchise business. Despite having all of these, nothing is ever certain, so you could still run into serious problems no matter how much you prepare. You can prevent failure by developing backup plans. In case something goes wrong, always have a secondary source of capital.
- Not Getting Enough Financial Backing
Let’s be honest: you cannot franchise a pizza business without any money. You will be required to pay an initial franchise fee and other start-up costs. You will likely need financial assistance, so make sure to acquire financing early on from a reliable source. Check into the terms, and ensure that they are fair and reasonable.
- Purchasing a Franchise Without a Lawyer
You might think that you have already done your job after doing your research, identifying your options, and choosing the ideal franchise brand for you. But remember that purchasing a franchise is a big investment, so make sure you consult with a lawyer before you commit to a 10 year franchise deal.
Legal assistance can be costly, but it is a worthwhile investment that can help you better understand all the legally binding franchise documents and their important details. It will also be beneficial for your financial situation in the long run.
- Ignoring the Importance of Advertising
Just because you already set up your business does not mean customers will come ordering pizza at your store. Note that you have lots of competitors, so never slow down your marketing efforts, even if you have raised brand awareness and many people are already gaining interest in your products. To stay ahead of the competition and make your pizza franchise successful, spend enough time, money, and resources on advertising.
Conclusion
Franchising a pizza business can be profitable because you will be offering a world-famous snack that many love. The marketplace may be saturated with other pizza businesses, but you have that competitive edge against others. Just stay committed, avoid the common mistakes listed above, and find trustworthy partners like us.
If you are interested in franchising a pizza store in Canada, then you have come to the right place. We are Pictou County Pizza, and we offer to franchise a pizza business in Nova Scotia, particularly in Halifax, Dartmouth Antigonish, and Amherst. With our famous pizza recipe, you are sure to entice many pizza lovers in your area. Contact us to learn more about our franchising opportunities!
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