The sales in my restaurant have been slumping. I’m considering converting my restaurant into a pizza franchise; what do I need to know?
Converting to a franchise will take some time.
Beyond the simple matters of investigating the franchise and handling paperwork should you proceed, a pizza franchise conversion can be a time intensive process. Often there will be some remodeling or renovations required as a part of the conversion that will take time as well. Plan on having at least 30 days of time between meeting the franchisor and making the conversion.
Converting to a pizza franchise will have some costs.
Converting to a franchise will entail, at a minimum, a face lift for your business and perhaps some new equipment. The franchisor will require you to follow their signage and interior design requirements. The franchisor will also have specific menu items that you will need to purchase inventory of, and potentially new equipment to make! Ask franchisors for help in financing the conversion as you explore the opportunity of taking on a franchise.
Converting your restaurant to a franchise will mean giving up control.
Being a part of a franchise system means following all of the franchise rules and regulations. If you have been operating as an independent restaurant and are now considering converting into a franchise keep in mind the flexibility you’ll be giving up. Franchisors often control menu items, store designs, marketing, and more to ensure that their brand stays strong.
If the time and financial investment are worth while for you and you can live within the franchisor’s rules converting your pizza shop or restaurant into a franchise can be a great idea; it’s simply not for everyone.