Tips for Choosing the Right Franchise for Your Food Start-up

The food service industry is one of the fastest-growing in the world. That’s a direct result of our current lifestyle. People don’t seem to have the time, nor the will to cook for themselves.

It is the food service industry that is cashing in on that trend. From the looks of things, that’s a trend set to grow, without any signs of stopping anytime soon.

Therefore, investing in a food start-up franchise makes perfect sense. Here’s our blueprint on how to choose the right franchise for your food start-up.

Ask yourself: What do I want to accomplish through franchise?

This is all about being honest with yourself, knowing what you want to accomplish, and what can you achieve. But most important of all, you need to know your limits, both financial and else wise. You need to be clear with yourself about all those things so that later you don’t end up overreaching and making wrong estimates.

The truth is, investing in a franchise means that you will always be making decisions. Decisions for which you will need to make your best estimate given the current situation and factors. By knowing yourself and your limits, you can make better and smarter decisions.  

How Much Can You Invest?

Food start-up, or some other type of start-up, you need to set up a budget before making your move. Nowadays, there are franchise food start-ups that can be started with $10K and some that require an investment in a couple of hundreds of thousands of dollars.  Of course, there are plenty in between.

Keep in mind that aside from your initial investment in the franchise, you will need to take into account operational costs daily. These costs need to be covered until your start-up starts generating cash.

Explore The Food Franchise Landscape

This is about looking at your options, what’s out there, the cost, what people like, what they dislike, how is getting great reviews, who not so much. The idea is to get a sense of what’s available and maybe even make a list of potential food franchise businesses you might invest in.

At this point, it will be like casting a big net and seeing what will come out. The ones that are out of your budget limit, are too demanding, are getting bad reviews, or you don’t like their food, they are the ones that you need to eliminate from your list first.

Choose Facts Over Emotions

Thing is you might like franchise very much. You like their products, how they serve their clients, their business model, and everything in between.

However, don’t just rely on your instinct, or you might end up losing money. In some countries, franchisors are obligated to disclose all their documents. That way, you can have the full picture at hand before making any financial or legal commitment.

Talk To Franchises

Let’s say you’ve identified a specific franchise opportunity, you’ve talked to their representatives, checked all available documents, and from the look of things they look solid.

The next step is talking to some of the franchises. Don’t just talk to the ones that they will recommend you, but also other random franchises. That way, you can have a better feel at what it means to be a franchise for that particular company.

Furthermore, if you can find them, you can even talk to former franchises. The ones that invested and failed to make a profit. Their experience and feedback can be both indispensable and very revealing.

How Long Does It Take To Return Your Investment?

Whether it is a food franchise or some other, it all comes down to how fast you can return your investment, and how much you can earn. Again, it’s all about doing your research, going through the numbers, how fast other franchises got their initial investment back, and how much they earn per year.

Is The Franchisor Easy To Work With?

Truth is some franchisors are way better than others and take great care of their franchises. Typically, the ones that spend more time helping put their franchises, provide a lot of training and support, are the best and most successful ones.

Review The Franchise Agreement With Your Lawyer

This is so you know exactly what you are getting into; what are your legal obligations, what you are entitled to get from your franchisor, what will happen if there is a breach of the agreement from some of the sides, and so on.

Take your time to understand every aspect of the agreement, what it means to you, its relation to the local laws and regulations.

In Conclusion

The main point is not to jump blindly into something that feels like an excellent business opportunity. Do your researches, talk to a lawyer, and even make the call to which franchise suits you most.

BillberryPOS is a custom franchise management solution provider. If you like this article, please share to others with this Affordable POS Software For Franchises.

Benefits Of QR Code Based Menu For Your Customers – Be Contact Less With New Normal

Food industry is facing so many challenges to adapt “New Normal” post COVID era. One of the key area is how do you make your customers order their favorite food with all safety norms. New trend is becoming popular for providing QR Code based digital menu to their customers so that they can view their favorite dishes and order without any touching anything.

Let’s explore basic features of this QR Code Based digital menu for your restaurants, QSR, Coffee shop, sweet shop, bar & food trucks. Product image with basic description of product is main ingredient here because if a person is not able to see how their food will look like than possibly they are not going to order it. If you can provide “Easy To Share” option on social media people can share your menu with their friends which can bring you more business. POS providers now integrating this feature to get following benefits:

Safety Of Customers & Staff Through Contact Less Experience

Your business can be operated easily with social distancing; no one has to really stand to take orders near to customers. This way your restaurant staff and customers remain safe with this new normal ordering system.

Improve Turn Around Time (TAT)

You will experience better TAT as this QR Code based ordering system eliminates time of taking orders from one person to another. Also in the mean time your operations will also improve as whenever customer is ordering anything it is directly going to your POS on real-time basis.

Up Sale & Cross Sale Benefits

You can think digital menu as your virtual assistant to customers. You can always show recommended items at the top where customers are getting attracted more to order. Attractive photos & precise description of product will explain your products to customers.

Decrease Manpower Required To Support Operations

You are now eliminating captains to take order for you. So if you are struggling with staff issues, this QR code ordering system is best tool to fight with this issue.

Increase Repeat Customer Rate With Integrated CRM

Integration with “Loyalty + CRM” programs will increase your repeat customer rates. You are automating everything for them in a safest way possible.

With a current new normal trend we have launched this contactless ordering and delivery platform for you. We also appreciate if you can write down your suggestions to us if we have missed anything. We wish everyone a speedy recovery to your business & this new QR code based digital menu system can bring more profit to you.

How to Choose the Point Of Sale System for Your Business?

A point of sale system (POS) is not just some high tech cash register. It is a lot more than just a gadget that takes credit cards and records sales data. It can also gather data on inventory management, sales, customers, employees, and a lot more.

Every new generation of POS comes with new and improved features that make it the central hub of any retail business. Here we will elaborate on how to choose the best possible POS system for your business. That way, you can manage your business more efficiently. 

Make your business needs a priority

A POS system may be perfect for a small store, but won’t necessarily be an excellent fit for a studio of a dozen of hairdressers. A growing business or a startup might want to choose a system that can scale along with their growth. That way, they won’t need to change their transaction process when they hit high numbers.

In most cases, small businesses can rely on tablet or iPad based POS systems. This type of system is easy to use and portable. Also, it offers a ton of security features and operates in the cloud.

On the other hand, mid to large-sized businesses can’t rely much on this type of system and will have a difficult time managing their transactions.

That is why it is super-important to research the POS systems. Make sure that you base your research on what’s used in your industry, by companies of your size. Talk to other business owners, read reviews, get quotes, and so on.

Integration with other systems

The perfect POS should be able to connect with your other business systems, like email marketing and accounting software. The top benefit of this is that you get a lot of customer data without manually downloading it from one program and then uploading it to another.

That is why integration is something that should be on the top of your list when searching for the best possible POS system for your business.

Don’t ignore scalability

You might be running a small retail business, and you got just one store. But you might plan to expand soon.

The thing is that specific POS systems limit the number of outlets that can be managed using them. That is why you need to make sure that you choose one that is scalable and won’t limit your business once you start growing.

As a result, many business owners choose scalable cloud-based POS systems that support multiple registers and stores. Once you connect all retail stores, you will have a single dashboard from where you can monitor all of them and run your business efficiently.  

User simplicity is essential

A POS system may have an incredible set of various features. But that won’t do you much good if they are part of a program that is difficult to understand and use. You don’t want to list the user manual for every little thing. Plus, even if you learn it through and through, you need to make sure all of your employees know how to use it as well.

That is why you need to have a crack at it before you make your final decision. The unwritten rule is the simpler the UI, the better. That way, every user can easily learn to use the POS system, and you won’t need to spend time teaching others or listing the manual every time you are stuck with some features.

Look for POS systems with specific features

Every business has its own specific needs and requirements. Nowadays, POS systems have features designed to fit individual businesses and industries. It’s one thing to buy a POS for a hotel, another for a restaurant, and a way different one for a mechanic shop. Each one of them has unique requirements and needs. There isn’t one POSto fit them all. Plus, the size of the business plays an immense role. The type of POS that serves perfectly a small shoe store may not be fit for a massive one. That’s why you need to consider both the specific needs of your business and the size of it.

For example, a typical restaurant will require a POS system that allows splitting the check, make table reservations, track product status, accept online orders, add tips, and so on. You won’t need most of those features if you run a small coffee shop or a cleaning service.  

In conclusion

Choosing a POS system is no rocket science, nor should it be. However, if you neglect some of the points made here, you might end up with one that simply doesn’t meet all of your needs. That is why it’s essential to do your research first, so you won’t have to worry later.

We have a Best Point Of Sale System in our mind for you. Please visit https://www.billberrypos.com to know the potential of POS system.