If you have read our other pages, then you will probably already know that we are planning on opening another Charcoal House steakhouse in Atlantic City, New Jersey. However, we actually want to branch out even more - we want to move out of the United States so that more people around the world can taste the delicious meats that we have to offer. Therefore, we have made the decision to become a franchise in Canada, New Zealand, and South Africa.
What Exactly is a Franchise?
Well, let us say that you want to open a business in your own town or city. You can do this in two different ways:
You can start the business from scratch, like what we did. You find a space to rent, design your own business plan, advertise to draw attention, and build your reputation slowly.
You use a business that already exists, such as Charcoal House. You pay a fee and in return to are given the rights to market that company’s services or goods in a particular location.
As you have probably already figured out, this second option is known as franchising. We, Charcoal House, will be known as the franchisor,
while you will be the franchisee. There are over 750,000 franchises in the United States alone, employing over 8 million people and generating over $800 billion in revenue every year. The contract details vary between franchises, but we will offer you a period of ten years, a signing on fee of $20,000, as well as receiving 5% of all the revenue that you earn each year. We think this is a very fair deal.
If you are still not sure whether a franchise is something that you would be interested in, then we highly recommend that you take a look at some of the main advantages of owning a franchise as opposed to starting from scratch.
You Get Brand Recognition
Purchasing a franchise will give you access to brands that have already made a name for themselves, which is a huge advantage. Building up a reputation in business is something that takes a very long time, even if you are just focusing on your local area. However, with a franchise, you will receive brand recognition right away and already have a customer base.
You Get a Proven Business Model
When you decide to purchase a franchise, you are putting your cash into a system that has been proven to work. For instance, our own system has been working perfectly for over four decades. Therefore, you should be able to derive some comfort from this fact as you know that if things do not go to plan, it is not because you have made a mistake with your business model.
Training and Support is Provided
The type of support that you will receive will vary between franchises, but we will give you all of the training and marketing help that you need. We will inform you of the best way to lay out your new store, how to operate properly, and how to supervise and train your staff members. This will be a lot of help especially if you are a novice when it comes to running a successful business or if it is a new industry for you.
What is the Best Locality?
Anyone with a business mind knows that the location of a business is extremely important. If you make the wrong decision when it comes to choosing a location, then your business is bound to fail.
If you are in Canada, New Zealand, or South Africa and want to open up a Charcoal House restaurant of your own, then we highly recommend that you do so in close proximity to a casino. Why is this? Well, for the simple reason that casinos attract a lot of locals and tourists.
If you manage to find a location close to a casino, then we guarantee that you will get a lot of custom. Meat lovers will flock to your restaurant before they head to the casino to try their luck on their preferred table games or the slot machines.