Now is a good time to look into potential business opportunities, especially if you have a little money to invest. If you live in Canada, for example, there might be a Ben & Florentine franchise for sale; a company that has a long and celebrated reputation among the restaurant industry in Quebec.
Quickly, looking at the data it is easy to see that Ben et Florentine is doing just fine. Even at a time when many restaurants are struggling from quality control and lower pricing pressures, this remarkable company opened 40 new stores in just the first six years of operation. A typical Ben et Florentine franchise runs at about a $175,000 investment, but this success is doubly remarkable because most franchises are only open until 3pm.
Simply knowing how well this company is doing, though, may not be enough to definitely argue that they are extremely successful. Indeed, you need something more than just a few numbers.
Anyone can crank out a couple good years. Actually, most restaurants fail within the first few and that is mostly due to undercapitalization. Still, any one can have a good day. But when you reach the kind of success that Ben et Florentine has, in just the first six years, it takes something called Brand Recognition.
Brand Recognition is a term used to describe how the public regards your company. If you have positive brand recognition, that means that you could ask a random stranger if they’ve heard of your company and they will probably respond in a positive way. Investing in a franchise with great brand recognition means that you have a leg up on the competition.
Every new business needs to market; how else will people know that you are open? Well, when you start your own business from scratch, you have to do all that work alone! When you buy into a successful franchise, however, much of that is going to be done for you.
In addition to doing the marketing, you also have to actually figure out a business that you start on your own. Fortunately, when you buy into a franchise, they literally tell you all the secrets they have learned along the way! They establish what works and all you have to do is stick to the program.