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If you’ve been looking into franchising, you’ve probably been looking at the big restaurants like McDonald’s or similar concepts. Sure, they’re expensive, but that’s because they’re the best, right? Well, not exactly. The truth is, even if you could afford those high-dollar franchises, you might find they don’t fit with the lifestyle you want. Let’s examine how Fresh Coat compares to the restaurant franchising market.
High Overhead VS Virtually Zero Overhead
When you buy a restaurant franchise, you must buy far more than just the rights to use their branding. You have to locate a physical location and pay rent (or purchase it outright), you have to buy equipment, you have to buy product that spoils…many factors to consider when investing your money. On the other hand, Fresh Coat’s model specializes in reducing overhead to almost nothing. You buy the paint for each project as it comes up, meaning the only thing you’ll need in storage is perhaps some leftover paint for touch-ups. Your painters have their own trucks, meaning it’s up to you if you want to purchase a company vehicle, wrap your own vehicle with a Fresh Coat logo; or none of the above. Less overhead means less stress – there is no need to worry that everything you’ve already purchased pulls its weight when you only buy what you know has been accounted for.
Office/On-site Work VS Work from Home
Whether you’re raising a family or just wanting to avoid that 8:00 AM commute every morning, many of us dream of working from home. That’s not happening with a big restaurant franchise model. No doubt you’ll have an office, and you’ll certainly be spending a lot of time going back and forth to your restaurant to make sure everything is running smoothly.
Turnover Rates
Let’s face it, there’s a reason why every teacher threatens high school students that if they don’t study hard they’ll be flipping burgers for a career. Most jobs in the restaurant business are handled by people who never plan to be there long. Students, adults between jobs…these will make up the bulk of your workforce in the restaurant world. And they’re probably better than those who’ve made a career in those roles. But, in our model, you’ll be working with professional tradesmen who have made a career in a specialized skill. No, you won’t experience zero turnover – but no business does. However, it will certainly be less, and more stability equals less stress.
Ease of Exit
Finally, one of the biggest problems restaurant franchises face is finding someone who wants to buy their franchise when they’re ready to do something else. It can be even harder to recoup a franchise fee of several hundreds of thousands of dollars.. Imagine selling a $45k franchise with a great revenue stream and book of business. That sells itself.