With the Covid-19 pandemic drawing to a close, nations around the globe are ready to return to normal, and get back to enjoying life once more. Part of that involves people heading out for a night on the town, and a visit to their favorite restaurants, which has always been fun.
Restaurant franchises are poised to take advantage of this newfound consumer optimism as we head further into 2022. If you’ve been thinking of becoming a restaurant franchisee in 2022, now’s the time to start.
CAPITALIZE ON FUN
After two years of being forced to stay indoors and socially distance, many people have had enough, and want to get back to enjoying life. Restaurant franchisees are in a prime position to help people slide back into a normal rhythm, especially when it comes to alleviating concerns people may still have about the pandemic.
Those who open up a restaurant franchise in 2022 can capitalize on the “good old days” theme with a mixture of great food, friendly staff, and an inviting atmosphere. People suffering from prolonged cabin fever will be eager to get out and mingle with others, enjoy a day out, and chow down on some delicious wings with friends, family and co-workers.
This isn’t rocket science, either. All you need to do as a franchisee is open your door, invite customers in, and treat them as mentioned above. Customer enthusiasm will take care of the rest.
IDENTIFY THE DEMOGRAPHICS
Prospective franchisees often lump all customers into the same group, without bothering to actually differentiate between them. The consumer base is comprised of three key demographics – Millennials, Boomers and Seniors.
Millennials make up a large percentage of the current population, and they’re the ones most likely to head out on a Friday night with friends and family for a night on the town. During the work week, they’re likely to team up with work colleagues and head out to their favorite restaurant for lunch. Their purchasing power is high, and they’re much more likely to try different things, which means it’s relatively easy to attract them with great food and a stellar reputation.
Baby Boomers might be aging, but they actually have quite a lot of economic influence. Many of them are investing in business ventures, or getting promoted to senior positions, which means they have a lot of corporate pull and influence. That equates to business meetings, and some of the best take place in restaurants where the atmosphere is relaxed, cordial, and optimistic.
Seniors may be less likely to head down to a bustling restaurant, but that doesn’t mean they won’t. Many seniors love to enjoy a night out on the town, and they won’t hesitate to pop into their favorite restaurant for a good meal. It’s important to note that seniors are more health conscious than other demographic groups, either by choice, or necessity. They may skip heavier dishes in favor of a lighter, yet equally delicious alternative, such as our own St. Louis gourmet salads.
ONE FRANCHISE LOCATION LEADS TO ANOTHER
The lure of being a franchise owner lies in the potential for unlimited growth potential. Indeed, the success of just one franchise location can generate a healthy revenue stream that can lead to a franchisee opening up more locations in different spots. This is what’s referred to as “multi-unit restaurant franchising,” and it’s a model many franchisees have embraced.
Franchisees don’t need to physically be at just one location every day. When the template has been established, and operations are running at peak performance, franchise owners can step away from that location to focus on opening up other locations, leaving general managers to fill the void. This puts eyes and ears in each franchise location that will report back to the franchise owner, and guarantee things are running smoothly.
If so desired, the franchise owner can (and should) visit each location periodically to make sure everything is up to standard, and the general managers are fulfilling their duties as expected. This allows the franchise owner to free up their time in order to focus on expanding their franchise portfolio, which can further expand their revenue stream.
MORE TIME, MORE MONEY
Being a franchise owner means taking charge of your own destiny, and deciding how you want to work. You can invest in just one franchise location, or as many as your heart (and pocketbook) can handle. Many franchise owners love the work/life balance of being able to keep watch on their franchise locations from above, while spending more time with their families.
And of course, the potential for unlimited earnings is up for grabs. By streamlining operations, franchise owners can cut down on costs, thereby yielding greater financial rewards. Plus, franchisees can avoid all of the hard work normally associated with opening a new restaurant with no previous brand exposure or recognition. Franchisors have already worked out an optimal business model, and they’ve taken care of the franchise’s corporate image and branding guidelines. That’s money saved, right from the very start.
CONCLUSION
If you’ve ever dreamt of opening up your own restaurant franchise, now’s the time to do it. The market is about to rebound in a big way, following 2 years of great stress. People are eager to get out of their homes and enjoy the fun in life, and what better way to do that than by visiting their favorite restaurant franchise? All it takes is dedication on your part, and you too can enjoy the benefits of building a hub within your own community, and expanding out from there.
