Often, entrepreneurial people default to creating startups when they realize that they want to have their own business. This type of business has high risks and rewards; you have to put in a substantial amount of time, money, and resources into keeping your venture viable. It is why 20 percent of startups fail within their first year.
If that makes you hesitate, don't fret. You can go for a low-risk, high-reward option like franchising. To ensure even more chances of success, choose a smart option like pizza franchising. Here are some reasons why pizza restaurant franchises are your best bet, especially if you're new to entrepreneurship.
A Franchise Is a Sound Investment
Typically, franchises enjoy high success rates and are a lower-risk option than establishing a business from scratch. According to the Canadian Franchise Association's (CFA) first-ever Economic Impact Study, approximately 520 new franchises opened in the country in 2018. These businesses belong to a wide range of industries, from health and fitness to quick-service restaurants, education, and more.
Experts also predict a relatively sunny outlook for franchise owners; CFA's advocacy survey shows that 62 percent of Canadian franchises have been around for more than 11 years, with 30 percent being in operation for more than 25. From a financial standpoint, franchises are more stable investments. You won't have many things to worry about beyond the original fees for buying and the ongoing franchise fees.
Pizza Franchises Sell Staple Food
People all over the world like pizza; opening a franchise means you have a high-demand product that will almost always bring profits. Although demand is not the only metric for success, it does mean there is a market for what the business sells. If you have the right location, a pizza place will be incredibly profitable.
Also, it isn't just restaurant food. Although many people enjoy having a sit-down pizza experience, this Italian dish is also a popular delivery or takeout option. People order pizza for events, but they also order it when they're unwinding or coming home from work.
A Pizza Franchise Is Scalable
One of the best things about having a pizza restaurant franchise is that you get to focus on operations. The kinks are ironed out, everything is systematic, and you do not need to guess what the best course of action is—the franchise owner has absorbed all the shocks for you. For a beginning business owner, this provides a valuable opportunity to learn the ropes and build confidence in entrepreneurship.
When you get a pizza franchise, you're sure that the taste, cooking time, and delivery methods are all set. The research, development, and testing have been done for you, making it easy to scale the business. Many franchise owners have multiple locations, so this is definitely in the future if it's something you see yourself doing.
Conclusion
Franchising a pizza restaurant is a great first business for a budding entrepreneur. Since pizza is popular, you don't have to spend massive amounts of resources marketing your product. Also, becoming a franchise owner means being in charge of an established brand; you don't need to pour time and effort into developing products to sell. With a pizza franchise, you'll come out on top!
Get a slice of success and join the Pictou County Pizza family! Since 1966, we've been wowing diners with our unique brown sauce recipe, superior pizza dough, and exceptional customer service. If you're interested in bringing the best pizza restaurant to Nova Scotia, especially Halifax, Dartmouth, Antigonish, and Amherst, give us a call today!
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