Starting a restaurant vs. buying a franchised restaurant
Starting a restaurant from... Scratch👍
Category | Pros | Cons |
Lease Process | Customizable to specific needs | May require more negotiation skills |
Permit Process | Learn the local landscape | Time-intensive and complex |
TI Process | Full creative control | Potential for cost overruns |
Training | Customized, tailored training | Might be inconsistent |
HR | Unique culture creation | Time-consuming |
Corporate Pricing | Potential for local deals | Lack of bulk discount |
Financial Process | Full control over financial systems | Potential for more errors |
Inventory | Choice of unique products | Can be more complex and costly |
Menu Costing | Flexibility in pricing | Requires detailed cost analysis |
Accounting | Flexible financial management | Potential for errors |
Daily Bookkeeping | Full control over the process | Time-consuming and can be complex |
Payroll | Flexibility in systems and policies | Handling complexities |
Food Safety Plan | Tailored to restaurant specifics | Requires constant updating |
Safety/Sanitation Plan | Customized to specific venue needs | Requires ongoing attention and updating |
Buying a franchised restaurant👍
Category | Pros | Cons |
Lease Process | Streamlined process, franchisor assistance | Less flexibility, set terms |
Permit Process | Easier navigation with franchisor guidance | Rigid standards |
TI Process | Consistent look with franchisor guidelines | Less creativity |
Training | Proven methods, consistent training | May feel impersonal |
HR | Streamlined hiring, established culture | Less freedom in culture creation |
Corporate Pricing | Cost savings through bulk purchasing | Less customization in product choice |
Financial Process | Franchisor tools, easier management | Might incur franchise fees |
Inventory | Streamlined process, franchisor guidance | Less choice in products |
Menu Costing | Proven price points, franchisor guidance | Less flexibility in pricing |
Accounting | Standardized approach, franchisor support | Less control over the process |
Daily Bookkeeping | Easier tracking with franchisor tools | Potential for franchisor oversight |
Payroll | Streamlined process, franchisor guidelines | Less customization in payroll policies |
Food Safety Plan | Franchisor-provided standard plan | May lack local specificities |
Safety/Sanitation Plan | Established cleanliness and safety standards | Might feel impersonal |
In both tables, the pros and cons are highlighted for each category. The decision to start a restaurant from scratch or buy a franchise should consider these factors, along with personal preferences, resources, and business goals.
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