August 29, 2019
Starting a sandwich shop franchise, or any franchise is a big career step, and it shouldn’t be undertaken before you understand the best and worst practices. Especially if you’re new to franchising, there’s a lot to learn, and a lot to stay aware of. When you start a PrimoHoagies franchise, you will be entering into an established franchise system with support infrastructure and other means of keeping you on track, but that doesn’t mean there aren’t certain pitfalls you should avoid. Here are the essential dos and don’ts of starting a sandwich shop franchise.
Do Your Research
Franchising is a big and important step, and you shouldn’t take it without first understanding all your options. Thorough research is integral to choosing the franchise brand that’s right for you, and making an educated decision. Many franchisees make the mistake of choosing a franchise solely based on current growth statistics and other economic factors – not actually stopping to consider if the brand, the franchisor’s vision, and their mission statement aligns with their own goals.
Do take Advantage of Resources
One of the most valuable parts of investing in a franchise is the resources that come along with it. The extensive training and support infrastructure provided by PrimoHoagies is essential to your success, as well as marketing assistance, location selection assistance, and post-opening support. These resources come with your franchise fee, so be sure to take full advantage of them.
Do Stay Proactive
You may be starting a sandwich shop with a built-in franchise infrastructure, but that doesn’t mean our industry isn’t always evolving. It’s your job to stay abreast of new industry trends, and adapt your day-to-day business to account for them. Don’t wait for your franchisor to give you instructions, or answer a question. Go out and do your own research, and arrive at the answer yourself.
Don’t Ignore the Franchise System
Many entrepreneurs think starting a sandwich shop franchise means total independence, without any oversight whatsoever. That isn’t entirely true. While we do give franchise owners independence to manage the day-to-day of their sub shop, you must stay within the guidelines of our franchise system, which are in place to guide you to success. The mark of a successful franchisee is exercising creativity where necessary, while also adhering to our guidelines.
Don’t Forget Operational Expenses
Your financial commitment doesn’t end at the franchise fee. While planning for your PrimoHoagies investment, always allocate some funds for supplies, location maintenance, employee payroll, rents, office supplies, taxes, etc. It might take awhile for your franchise to become profitable, and you need to plan for the interim period as best you can.
Don’t Invest Without a Clear Financial Picture
It may go without saying, but fully understanding the investment costs are crucial to your success. Many franchisees fail either to procure the funds they need to finance their investment, or find themselves underwater shortly after their doors open. It’s important to really have a solid understanding of the franchise fee, royalty payments, operational expenses, and any other costs associated with starting a sandwich shop franchise.
If you’re considering starting a sandwich shop franchise and want to learn more about the dos and don’ts, reach out to us today.