Many of us enjoy a great culinary experience and feel inspired to consider whether they might be able to emulate a successful and popular eatery by becoming a restaurateur themselves.
A good way to try and achieve your dreams is often to tread the path followed by others before you and sign up to some sort of food franchise opportunity.
Knowing what goes into running a restaurant business, from how to attract customers to what smallwares to order, are all going to challenge you when you have not had the experience of operating a food business before.
Here is a look at some of the tips and tools at your disposal that could help you to become a successful restaurateur.
Why a franchise might work for you
The restaurant industry is familiar ground for the franchise opportunities, allowing you the chance to open the doors to customers with the backing and hand-holding support of a franchise network to steer you to success.
One of the key selling points attached to buying into a restaurant franchise as opposed to going it alone, is that your odds of success tend to be higher as a result. Investing in a restaurant franchise not only allows you to acquire some industry knowledge and guidance, but it also means that you are operating under a brand name that is recognized and already has an established reputation.
Another important point to consider is that you are investing in a tried and tested formula that has already proven itself with other restaurateurs before you. This can make a big difference, and when you add in the fact that you get to tap into a support network with other franchisees and can also enjoy some buying power with suppliers, it can make the idea of buying into a franchise, quite appealing.
A price to pay
You need to weigh up the pros and cons when considering buying into any sort of franchise.
You will be signing up to a business arrangement that will not give you the same level of freedom that you would enjoy if you opened an independent restaurant on your own.
There are going to be ongoing royalty payments, which is where the franchisor takes a percentage of your pre-tax profits and you will probably be required to contribute to an advertising budget.
You might also have to agree to upgrades in your restaurant at certain intervals, which means that you may have to pay for new equipment or decor changes, without having much input on what work needs to be scheduled.
Taking that first step
If you want to become a restaurateur, there are some advantages to signing up to franchise, especially if you have no previous industry experience.
You will hopefully be signing up to a franchise that provides you with a ready-made demand for your business from day one, and you will probably find it easier to get finance for your business venture if you are buying a franchise rather than opening an independent restaurant.
Only you can decide which way to go and what you ultimately want to do, in your quest to become a successful restaurateur.
Abbie Ellis has recently graduated from a culinary arts school and is ready to take her business from hobby a big business reality. She writes about creating a food based business, sharing her tips and ideas with others.