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Category : Features of business franchises |
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Fast Food Franchising
Fast food franchising in the United States accounts for over $125
billion in business per year. It is estimated that, in 2005, Americans
spent more than $100 billion on fast food which was more than was
spent on higher education, personal computers, software or new cars.
More was spent on fast food than on movies, books, magazines, newspapers,
videos and recorded music combined. A major reason for the popularity
of fast food franchises is that food is supplied quickly after ordering
and with minimal time and service. Buying a fast food franchise, however
potentially lucrative, requires a lot of hard work on the part of
the franchisee. Though the monetary benefits of fast food franchises
are plenty, it is a difficult franchise to set up because it requires
plenty of working capital and investment.
The fast food franchises constitute more than one third of franchise
retail sales. Currently there are over 2000 fast food franchise
companies in the US, with more than 500,000 franchisee and franchisor
operated outlets all across the country. Fast food franchises employ
in excess of eight million people, with many getting their initial
job experience from fast food restaurants. McDonald’s, KFC,
Pizza Hut and Subway are some of the more popular fast food franchises
worldwide that rake in millions of dollars per year in profits.
Fast food franchise opportunities
The popularity of fast food franchises in the country continues to
grow unabated because, according to the US government, fast food accounts
for over forty percent of an average family's food budget. With a
marked increase in the consumption of coffee, juices, pretzels, sandwiches
and other recent so-called ‘fast foods’, it is clear why
many people are entering the fast food franchising market. This growth
trend expected to continue making fast food franchises the ideal business
opportunity.
The dietary habits of Americans have changed to accommodate a fast
paced, hectic lifestyle so the consumption of fast foods is seeing
an upward trend. Whether it is sandwiches, burgers, tacos, pizzas
or doughnuts, fast food franchises are an effective source of profits
as they help deliver a quick, easy and affordable meal in the shortest
amount of time.
Features of fast food franchising
A fast food restaurant is characterized by the food being served quickly
after ordering and with minimal service. Though fast food has received
a lot of criticism in the recent years for contributing to obesity
and unhealthy eating habits, it is still one of the fastest growing
franchises in the world. Over the past five years the term ‘quick
service restaurant’ has now replaced the word ‘fast food’
in order to avoid any negativity associated with it.
Some features of fast food franchising include:
- The food cooked is done so in bulk, in advance and is kept hot,
or is reheated upon order. This allows the food to be served within
five to ten minutes, ensuring rapid food delivery and timely service.
- Fast food franchising stresses uniformity. Since many fast food
franchises are part of a restaurant chain, the food cooked is
standardized. The ingredients used and the method of cooking are
almost the same so the food also looks and tastes identical.
- The capital required to start a fast food franchise is relatively
low so fast food eateries can be found nearly everywhere in the
world.
- Fast food outlets also provide take-away or take-out food in
addition to a sit-down service. A drive-thru service is usually
quicker because it allows food to be ordered and delivered without
leaving your car.
- Fast food is food prepared and served quickly so it is done
at a lower cost.
- Fast food is usually classified as food that can be eaten quickly
and without forks, spoons or knives, such as sandwiches, burgers,
fried chicken, french fries, chicken nuggets, tacos, pizza or
ice cream cones.
- The food prepared in fast food restaurants is often highly processed
and prepared on an industrial level with standard ingredients
and uniform cooking methods. It is served usually in cartons or
packets to minimize costs.
As more and more people are now joining the work force, the time has
become a precious commodity. The result is people looking to fast
food restaurants for relatively healthy meals that are reasonably
priced.
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