Can you own another franchise at the same time? Most likely, you will be restricted from purchasing a franchise from franchisor that would be a direct competitor to a Food & Restaurant franchise. However, you may be allowed to purchase a franchise of another type.
According to the Small Business Administration, less than 5% of all franchise units fail each year. This is compared to 30 to 35 percent of small businesses which fail within the first year of operation. However, owning a Food & Restaurant franchise is not a guaranteed recipe for success. You will still have to comit yourself, your time, and perhaps even make some personal sacrifices in order to succeed.
Franchising is a way of doing business. It is a method and marketing tool for companies to expand their market share more rapidly and less expensively. Some companies, which are thought to be franchises, are in fact not franchises. All stores are owned and operated by the company itself Some examples of businesses that are not franchises are: Starbucks, Gap, Victoria's Secret.
Related Food & Restaurant Franchises
