You can’t invest in a food franchise based on a hunch about consumer hankerings. Data-backed consumer inclinations always need to be on the minds of investors when selecting franchise opportunities in the USA.
The reality is that “fast food” as we know it changed forever with the rise of “fast fresh” and “fast casual” dining options. Americans simply can’t go back to deflated-looking burgers and dry fries after having their palates expanded by Chipotle, Moe’s, Southwest Grill, and Baja Fresh. While fresh and authentic fast-casual dining has changed the rules for how to start a franchise business in the USA forever, these giant brand names aren’t the only options. Investors can still find something new in this niche that also feels familiar to people who know fresh, high-quality food when they experience it.
If you’re looking to start your own business, investing in profitable franchises in the food industry could be a wise decision. These franchise systems often provide comprehensive business services, including training and support, to help new franchise owners succeed. As a franchise owner, you’ll have the opportunity to run a potentially profitable venture, backed by a proven business model and brand recognition. This path can significantly reduce the risks associated with starting a business from scratch and increase your chances of success.
Are you wondering how to start exploring franchise opportunities for the newer, fresher fast-food market? Here’s a step-by-step franchise business review to vet your choices to find a fresh pick that will give diners a reason to stop in whenever they see the light on!
More opportunities: Franchises in Miami
1. Research Industry Trends
There was a time when the land of fast food was ruled by giants that served burgers, fries, and fizzy sodas. Consumers were happy with these options because they didn’t know that better options existed. They know now. That’s why “lazy” fare that leans on the burger-and-fries formula just doesn’t cut it when trying to create a high-volume fast food restaurant.
It’s important to research demand trends in casual dining when strategizing on franchise opportunities in the USA. There’s one trend that simply cannot be ignored.
According to information published by McKinsey & Company, half of consumers call healthy eating a top priority. After decades of settling for manufactured and modular meals, consumers want to feel like they are eating real, whole food. They are excited when they discover items that one might encounter at local eateries or markets in places around the globe.
In fact, that global aspect leads to the next big concept in American dining which is changing the script. American diners are curious and eager when it comes to international menu options.
According to the National Restaurant Association’s forecast of big culinary trends for 2023, the top trend is a desire to experience culture and community while dining out!
When the National Restaurant Association did a deep dive into what U.S. consumers want, international cuisine was an overwhelming leader in decision-making trends. Researchers were able to understand why people are so drawn to international cuisine after identifying a motivation based on the precipice that many consumers see exotic restaurant menus as providing opportunities to travel via the senses! Global flavors provide “micro” adventures that allow diners to deviate from what’s 100% familiar.
Which flavors are American diners looking for? According to the American Culinary Federation’s recent survey, consumer choices are gravitating toward menus influenced by world regions. Ranking high within the top five regions for cuisine is Caribbean fare. South American and Southeast Asian are also highly desirable among diners with international preferences.
2. Select a Franchise That Works for the Future
There’s one more interesting layer to know about when investigating franchise opportunities in the USA. According to insights shared by Food Management, Gen Z diners are especially interested in being more adventurous with global flavors. They prefer emerging cuisine from around the globe that goes deeper than the mainstream categories most people are already very acquainted with.
Gen Z diners also appreciate bold spices and interesting flavor combinations. Additionally, the new “comfort food” of Gen Z looks more like global twists on familiar cuisine. All of this means that getting established as a disruptor today in the ethnic fast-food category presents the opportunity to be the familiar brand of the next decade.
3. Find Franchise Opportunities in USA That Make You Feel Passionate
One of the best ways to thrive as a franchisee is to truly believe in the brand you’re growing. It’s difficult to fake passion when it comes to the food you’re serving. That’s why it’s important to focus on franchise opportunities that make you feel like you’re part of an important food movement instead of simply trying to “move product.”
4. Make Sure Supply Chain Won’t Drag You Down
Shortages and substitutions have been leaving many consumers feeling frustrated in recent years. When Americans dine out at chain restaurants, they expect consistency and predictability. They know that they will get the same dining experience they had on previous visits. However, franchises that have weak or self-service approaches to supplying ingredients put franchise owners in tough spots.
As you investigate franchise opportunities in the USA, it’s important to focus on a brand that makes sourcing exclusive and proprietary ingredients simple. This benefits the franchisee in two ways.
The first is that a franchisee can ensure uniformity in taste and quality every single time because they aren’t experimenting with different vendors. This also means that imitators can’t recreate what’s happening in your kitchen.
The second is that a franchisee enjoys “bulk” price benefits that have been negotiated by the parent company even if they operate a small location.
5. Look for Scalability
How does a franchise work in the USA? Many franchise opportunities lock franchisees into commitments to open locations with minimum requirements for square footage. This means that there’s simply no wiggle room for stepping into a franchising experience at your own pace. However, there are a few rare gems out there that allow franchisees to scale their investments.
Juici Patties franchisees can choose small, standard, or large restaurant formats with three different ranges for initial investment costs. These scalable opportunities allow franchises to set up their stores based on their own budgets, the size of the market they are entering, and the local spaces that are available.
Juici Patties initial investment windows are $346,950 to $469,500 for small format, $537,450 to $692,350 for medium format, and $619,450 to $792,550 for large format.
6. Research Investment Costs
If a franchise is hiding initial investment costs, this is a red flag. Companies that are offering fair and reasonable investment opportunities are eager to share cost figures because they are focused on attracting qualified and prepared candidates. Companies that are merely trying to hook franchisees in will conceal their investment costs.
How do you know you’re dealing with a trustworthy company?
A company that is offering a reasonable opportunity will always post fee details on its franchising website. While some franchisees uncover hidden fees after they are already deep into the application process, Juici Patties franchisees enjoy clear pricing with the franchise fee already bundled into investment costs.
7. Become Familiar With the Franchise You Pick
No franchise owner is an island! It’s important to participate in the company culture and international franchise association of the franchise you select as early as possible to help you become immersed in the brand philosophy. Online and in-person meetings are terrific opportunities for both connection and learning. Inquire about traveling to visit an operating location as early as possible in the process.
8. Understand The Financial Commitments of Franchise Owners
Venturing into business ownership with a food franchise entails understanding the financial commitments involved, including franchise fees and ongoing costs. Initial franchise fees can range from $10,000 to as high as $100,000, with royalty fees typically between 4% and 12% of your revenue, depending on the franchise business you choose. Additionally, it’s essential to navigate the specifics of the franchise agreement, which details the terms of your relationship with the franchisor, including payment of royalties, even in times when you may not be profitable3. It’s recommended to have at least $20,000 to $50,000 in extra funds available before opening a franchise business.
Open an Ethnic Food Franchise With Juici Patties
Are you looking for more information on how to start a franchise business in the USA? Juici Patties is the beloved franchise that brought one of Jamaica’s biggest fast-food chains to the United States! Famed for serving delicious and fragrant Jamaican food, Juici Patties is the chain that delivers classic and authentic island flavors using a modern, streamlined system for food preparation, store design, and supply chain.
Embracing the franchise opportunity with Juici Patties offers a wealth of benefits. As one of the best franchises, Juici Patties offers an already proven operating system that eliminates the guesswork and reduces the risk often associated with starting a new business from scratch. The ongoing support provided by the company is invaluable, offering guidance in areas such as site selection, training, marketing, and operational assistance. This level of support contributes to the high franchisee satisfaction ratings consistently reported by those who have embarked on this entrepreneurial journey with Juici Patties. This franchise opportunity is not just about running a successful business, but also about being part of a thriving community dedicated to mutual success.
Contact us today to learn more about bringing the best of Jamaica to a consumer market near you with franchise opportunities in the USA!