For many people, opening up their own store can be a dream come true. It takes a ton of work to do so and having it pay off can be one of the best feelings in the world. Whether you’ve considered opening up a coffee shop, bagel franchise or any other type of restaurant, there is a ton of work that goes into it.
For full fledged restaurants, it can be much more stressful and overwhelming, which is why we wanted to share with you some of the top reasons owning a bagel shop is better than owning any other type of restaurant.
From taking up less space, costing less money and more, you’ll find out all of the great things that come with owning a bagel shop below.
It’s More Affordable
When it comes to owning a business, money is one of the biggest factors. Restaurants can be incredibly expensive, but bagel shops don’t have to be. A restaurant like Olive Garden or Applebees is going to require a lot more room than a bagel shop.
Another thing that keeps pricing low is the equipment you’ll need. You don’t need nearly as much expensive equipment that a regular restaurant does. You’re likely to be able to open up your doors using a lot less money, while still being more than able to make a great profit.
It’s a Niche Restaurant Type
Another reason that owning a bagel shop is better than owning another type of restaurant is that it’s a niche market. Look at how successful coffee shops are, you can do that with bagels! When you run a restaurant that is in a niche market, you can focus better on one product.
Doing this can set you apart from the competition, and can help you deliver a great product.
You Can Be More Creative
Something great about owning a bagel shop is that there are several opportunities to be creative. Just like any other type of restaurant, there are rules and regulations that you will need to follow, but you’ll still have plenty of individual freedom.
You may think that if you own a bagel shop you can only sell bagels, but that shouldn’t stop you from going down creative paths. You can make sandwiches, spreads, different cream cheese flavors and more. Don’t get stuck in the mindset that bagels are just for breakfast either. They can be sweet, savor and unique on their own.
Something fun you could do is have a themed bagel for holidays or seasons. You could sell green bagels during St. Patrick’s day and have them be pistachio flavored, or top them with a Bailey’s cream cheese spread. There are plenty of creative ideas to bring customers in and get them talking (positively) about your bagel shop!
It’s Easier to Franchise
A great reason to own a bagel shop over another type of restaurant is that they’re way easier to franchise. Bagel shops are much more affordable, which makes it easier to buy and open multiple shops.
You can also open multi-units which helps you to stay relevant and stand out within the bagel industry. This can keep you on the mind of customers, instead of your competition.
Since location plays a large role in whether or not your business is successful, you could franchise to larger cities and popular suburbs to bring in customers. If you are considering franchising, you’ll probably enjoy knowing that franchising fees are less expensive than many other types of restaurants!
Bagels are Popular
If you don’t eat bagels often, you may not realise how popular they are. Have you ever gotten a new car and then suddenly you start to see that same car everywhere? It’s similar when it comes to bagels.
You may not know how popular bagels are unless you enjoy them. They are a staple breakfast food for many people. As you read earlier, bagels can be enjoyed at any time of the day, and there are many ways to get customers excited about trying new flavors.
How many people do you know that are rushed in the morning? The majority of people wake up tired and have to rush out the door to make it to work. A lot of these people will be found in the drive-thru, or inside a local bagel or coffee shop. Bagels are amazing on the go food, and are even better paired with a morning cup of joe. Consider selling combos that include a coffee with a bagel to entice customers to stop by in the morning.
You can make bagels even more popular by offering fun flavors, holding contests and having a fun and strong social media presence.
More Financial Aid Options
Something that sets bagel shops apart from other restaurant types financially is the fact that there are many more financial aid options. Unless you are incredible at saving money, you’ll likely need to get a loan from a bank to successfully open up your bagel shop.
It can be tough getting a loan from the bank, but if you show that you’re experienced, are trustworthy and have an honest, realistic business plan, you’re much more likely to be approved. If you already own a bagel shop and are wanting to franchise, it’s much easier to get a loan that just starting out.
Ability to Cater to Everyone
Lastly, because bagels are a niche market, you’re able to cater to everyone if done correctly. You’re much more likely to be successful if you offer vegan, nut-free, gluten-free or gluten friendly options. If you’re in a popular city like New York or Los Angeles, this is going to set you apart from your competition.
We may not realize it initially, but customers love being catered to, and if you’re able to meet their needs where other restaurants and businesses have fallen short in the past, they’ll likely be a returning customer that boasts about your business to their friends and family.