The franchise industry is growing in leaps and bounds so it is the perfect time to get in on the action. But how do you know if the franchise business is right for you or what type of franchise to invest in?
There is a lot of research and prep that needs to go into making such a big decision. Bagel shop franchises are hot right now, but before you jump in, here are the top 10 things to know before investing in a bagel shop franchise.
1. You can’t go wrong with breakfast foods
The worry in any new business is, can you get the customer draw you need to be successful? Luckily, you can’t go wrong with breakfast foods. When you choose to invest in a bagel shop franchise, you can feel confident that it is not a passing fad and that you will always have prospective customers.
2. Lots of support guaranteed
One of the biggest incentives of choosing to invest in a bagel shop franchise is that you will have a support structure to help you get started. This is something you don’t have when you are opening a bagel shop on your own. With a bagel shop franchise, the franchisor offers you training for you and your staff and will help you find your location and prepare for your grand opening. If you are new to the franchise business, this is especially attractive.
3. Brand power is already built in
There are a lot of popular bagel shop franchises like Shmagel’s Bagels who have strong brands that people immediately recognize. By choosing to go into the bagel shop franchise, you will benefit from sharing in the brand recognition. You will be able to use their brand power and any logos or advertising campaigns to help your own business do well.
Your franchisor typically also offers you marketing and advertising assistance including a campaign for your grand opening. And whenever they have a national campaign you will benefit from that as well.
4. A business model that has been proven to work
As a new business owner, there is a lot of trial and error but with a good franchise company there is a lot less guesswork. They have already a developed a business model with a proven track record that you just need to tap into.
5. You can also count on ongoing assistance
Another benefit of choosing to invest in a bagel shop franchise, you will still receive ongoing assistance from your parent company. This is good news because you will always have someone to call on when you have any questions or find yourself in a tough spot.
6. Real estate and construction assistance is included
Finding the right piece of real estate and building your bagel shop in and of itself is challenging so it can be really helpful to have real estate and construction assistance. They will help you find the best location with good parking and foot traffic and help with negotiating for the best price for that location. They will also help you deal with the contractors as well and getting all the furniture and equipment you will need.
7. Franchisor will help you make connection
Besides getting you good prices on real estate and construction, your franchisor also has already established contacts for supplies inventories, even uniforms and they will share their purchasing power with you to get the best prices.
8. A franchise is a less risky option
While there is still some risk and of course you need to work hard and do everything in your power to make sure you are as prepared as possible, going into the franchise business is slightly less risky than going out on your own because the franchisor has done a lot of the work for you already and they offer you a parachute to keep you from falling on your head.
9. Today’s bagel shop franchises are evolving
As customer’s desires have changed, bagel shops are evolving to keep up. They are expanding to offer more lunch and dinner items to stay competitive with other food franchises. There is a lot of opportunity for creativity and growth with a bagel shop franchise.
10. More opportunities for financial aid
Most people opening a bagel shop whether an independent one or a bagel shop franchise are going to need a bank loan to get their business up and running. Today it is a lot harder to get a bank loan than it used to be, but luckily when you are backed by a proven successful brand and an experienced franchisor, you are considered a more attractive candidate. And most likely your franchisor already has a long-standing relationship with a banker that you can benefit from.
Are you intrigued by the idea of owning a bagel shop franchise? Next, you should create a list of what you are looking for in a brand. Besides missions and values that you can get behind, you should also look for a strong support structure and a robust training program that will help you grow your franchise.
Especially if you are new to the business, having experts on your side can be a real boon. Also keep in mind that is you want to run more of a specialty bagel shop, for instance one that concentrates on organic or vegan options, then you need to specifically look for those types of bagel franchising opportunities.
Shmagel’s Bagels is a popular bagel shop franchise that is growing in popularity and looking for new franchisees. Right now they have two locations in Ocean City, Maryland. Shmagel’s is known for their fresh bagel creations baked daily, including Bagelninis which are bagels flipped inside-out and pressed.
Shmagel’s offers a low cost of entry making it one of the more affordable franchising opportunities out there and they also provide you with catering opportunities for parties, corporate functions and other types of events.
For more information about investing in a bagel shop franchise and what makes Shmagel’s Bagels a smart investment, contact Shmagel’s Bagels today.