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Every year, Franchise Direct compiles a list of the Top 100 Global Franchises and every year, the top 10 of this list is dominated by food franchises
There are a huge number of reasons why food franchises can find the route to success with fewer diversions than franchises in other industries. Among them is the obvious one; the fact that a large portion of Canadians eat out every now and again.
Thus, it is a market that when gotten right, targets almost everyone, whereas other industries may only grab the attention of pet owners, or drivers, or those who have a garden to upkeep.
Using this as one of the five reasons that we have teased in the title almost seems like cheating, so instead we will provide you with five more slightly less obvious reasons.
Here is an á la carte list of reasons that will hopefully whet your appetite for food franchise opportunities
There’s Plenty of Choice
Variety is the spice of life and spice is just one of the varieties in different food franchises. Just taking a look at our available options in Canada, you can take your choice from restaurants that specialize in everything from Greek food to burgers and barbecue.
This variety is just one of the reasons that so many food franchises are finding success; they are not trying to take up each others' space – there are many different niches and there is a franchise to suit them all.
Customers who return
Are you one of those people who finds a restaurant you like and constantly returns there? If you’re not, do you know someone who is like that?
We reckon that a large percentage of you guys probably answered yes to at least one of those questions.
The thing about restaurants (and almost all businesses in the service industry) is that their products are also one of their marketing tools. If the product is good, it is going to get customers to return for another bite of the cherry (or burger, or whatever food your franchise sells).
More Than One Way to Make Cash
More and more restaurants are engaging with more than one revenue stream; there are delivery, in-house purchases, take away options and outside catering.
The restaurants that take advantage of the many ways to make cash in this industry are proving that there’s more than one way to make a buck.
David Portalatin, NPD food industry adviser, discussed the new possibilities for restaurants when commenting on recent market research.
He said: “Digital ordering overall and apps have provided a path to market to consumers on a one-to-one basis and offer them a restaurant experience customized to their needs.”
A Canadian Way
Canada is a country that loves the restaurant business. Eating out is a popular pastime up here and that’s proven by the very fact that the top three franchises in Canada all serve food and coffee.
Of course, Tim Hortons leads the way, but it is followed by four more food franchises in the top five. If that doesn’t prove that this is a country that loves to grab a bite on the go, then we’re not sure what does.
Experts in Marketing
Getting people through your doors to try your food is the difficult part; if the food from the franchise is tasty, there’s a good chance these customers will return.
Thankfully, most food franchises recognize this and thus, regularly launch campaigns and implement plans to help strike up the curiosity of potential customers.
These are just five reasons why food franchises are proving so popular in Canada right now. If you’re hungry to explore the options for food franchises, we’ve a full list of them here.