The staggering growth of the quick-service restaurant (QSR) industry, which saw a rise in sales of over $80 billion from 2020 to 2021, has attracted the attention of many savvy investors in recent times. With this rise in opportunity, many brands, such as Golden Chick, are seeking to bring in these new entrepreneurs to work with them as franchisees. If you happen to be one of them, we suggest that before you begin your search for the right franchisor to start a business with to achieve your goals, you ask yourself: Is a QSR franchise opportunity right for me?
In this article, we will detail the characteristics most commonly shared among the best QSR franchisees and how they directly impact the success of the business. Additionally, we’ll share how the Golden Chick team works in our role as a franchisor to help entrepreneurs like you overcome obstacles and mold your location into the business venture that you have been pursuing.
What Are You Looking to Gain from a QSR Franchise?
The majority of entrepreneurs launch a new QSR business as they seek to tap into the profit potential that has emerged throughout the industry, as we touched on earlier. However, not every QSR brand is created equally profitable. Golden Chick’s well-established brand name and top-tier reputation with consumers puts new franchisees in an excellent position to take advantage of the growing market. Our franchise business model helps franchisees avoid the pitfalls that a traditional small business is prone to and offers an avenue to multi-unit opportunities with Golden Chick.
While understandably significant, financial benefits are hardly the only factor that convinces entrepreneurs to launch a QSR franchise. Some people need a business venture with a natural structure in place that allows them the flexibility their schedule requires to manage other professional and personal commitments. Another positive outcome of owning a QSR franchise is the impact you’ll have on the local community where you’ve established your franchise by providing desirable jobs and high-quality food. At Golden Chick, we take pride in helping our franchisees reach these goals and many more as their location continues to grow.
What Should You Bring to the Table?
Before seriously considering starting a franchise in the QSR industry, you should also do an internal evaluation to ensure that you are prepared to invest what is required to make your new business a success. Most franchisors will require their franchisees have a certain amount of liquid cash on hand and be in good standing in terms of their credit. This is done to ensure the franchisee can handle the initial investment costs necessary to get their franchise off the ground.
While previous experience within the industry and business ownership is a plus, it’s not a ‘must-have’ provided you hire a General Manager with a strong QSR background. At Golden Chick, we’ve worked with franchisees of all backgrounds and experience levels to drive their location to the heights they’ve always hoped to achieve. And with our many support resources, we can help you get up to speed with what you’ll need to know to make your Golden Chick franchise opportunity a success!
Still curious about whether a Golden Chick franchise is right for you? Contact us today, and we’ll walk you through everything you’ll need to start your franchising adventure with us!