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Taco Bell/KFC
Cost- Around $1,290,000 - $3,088,000, for initial start up.
Risk- The risk is very large seeing that I would have to put a minimum of 1.3 million dollars. Out of my own pocket. If i risk it and fail, im out over a mill.
Advertising- The Yum! corperation handles the advertising for all the companys, but at a fee. 9% of gross revenues must be paid to the company for advertising.
Training- The Yum! corperation offers 12-16 weeks of training, before entering the system. After that I, the owner of the francise would then train all employees.
Managment- I will manage the employees in my first francise locating, i will not be hiring. Upon opening later buisnesses in other locations, I will be hiring managers and people to deal with the employees. Because i will be busy spending my outragous amounts of money.
Royalty Fees- Unfortunately the royalty fees for my company are insanely high. 9.5% of gross revenues I must pay annually.
Personal Interest- I love Taco Bell, along with KFC. I also love large amounts of money.
The benefits to buying a company first of all its much more affordable. Its also definaletly a much more of a personable experience. On the other hand, buying a franchise you will most likely make more money. When going with a franchise, the corperation handles most of the advertising for you, so thats something less you would have to worry about. When you have a buisness you can add your own touch to things, maybe add something new to the menu that you made your self. When your with a franchise, you can not do those things, you must sell all menu items. And you may not add any new menu items, unless the corperation comes out with it. Those are just a few of the pros and cons of going with buying your own buisness, or franchising a business.
You can find help starting a buisness at the Yum! franchising website.
