The QSR segment is growing, and investors are taking notice. According to research from Technomic, the combined value of the fast-casual and quick-service restaurant markets grew by 6.7% in 2018—a rate that’s double the growth of the general restaurant industry. It’s no wonder that so many people are looking to invest in a Quick Service Restaurant Franchise.
The opportunity for growth is there, but you need to know exactly why you should invest in a Quick Service Restaurant Franchise before moving forward with any plans. After all, it’s still going to be an investment of your time and money. Before you start the process of buying a Quick Service Restaurant Franchise, here are six reasons why you should go ahead with it:
1. People Are Eating out More Often
The first reason to invest in a QSR franchise is that people are eating out more often. Despite the growth in popularity of meal kit delivery services like Blue Apron and Hello Fresh, people are still choosing to eat out more often than ever before. It’s a lucrative market for QSR franchise owners, especially as more people choose to spend their money on experiences rather than things. But why are people eating out more often?
Technomic believes that the growing cost of healthcare, climate change, the rising interest in digital experiences, and the growing number of single-person households are all contributing factors. More people are dining out now than ever before. In 2000, the number of meals eaten out each day per capita was 3.2. In 2017, that number had grown to 3.8.
2. You’ll Have Access to the Best Brands
The second reason to invest in a Quick Service Restaurant Franchise is that you’ll have access to the best brands. When you buy a franchise, you will be working alongside the best brands in the industry. These brands have been around for years—in some cases, decades. They know what works and what doesn’t. They have perfected their systems and are always innovating.
With a QSR franchise, you’ll have access to the best brands in the industry, including Taco Bell, KFC, Blaze Pizza, and more. These brands have been around for years and have proven themselves time and time again. You’ll have access to tried-and-true systems and products, which will make it easier to succeed.
3. The QSR Segment Is Growing Rapidly
The third reason to invest in this industry is that the QSR segment is growing rapidly. For any franchisor that offers a quick-service restaurant franchise opportunity, business-minded who want to dive into space can be assured of a very dynamic environment of business opportunities. Technomic has projected that the QSR segment will grow by 4% each year until the end of 2022, which is double the growth rate of the general restaurant industry.
This is in part due to the rising health consciousness of consumers and the fact that they’re demanding higher-quality food. They want healthy, organic options that are made with fresh ingredients. QSR franchises are responding to this demand by introducing new healthy menu items and fresh food options. All of this points to a bright future for QSR franchises, which makes it a great time to invest.
4. There Are a Lot of Potential Locations to Choose From
The fourth reason to invest in a Quick Service Restaurant Franchise is that there are a lot of potential locations to choose from. There are millions of people in North America, which means that you’ll have plenty of potential customers to serve. But you’ll also have a lot of potential locations from which to choose.
QSR franchises often have hundreds of locations in their system—some even have thousands of locations. This means that, if you’re looking to open a franchise, you’ll have a ton of locations to choose from. You won’t have to struggle to find a suitable place to open your store. Instead, you’ll have many options at your fingertips. This will make it easier to achieve success as a QSR franchise owner.
5. You Can Build a Solid Foundation Based on Your First Store’s Success
The fifth reason to invest in a Quick Service Restaurant Franchise is that you can build a solid foundation based on your first store’s success. When you buy a franchise and build a successful store, you’ll have the potential to use that store to grow your business even further.
As you open more stores, each one will be able to offer the same products and services that made your first store a success. This means that you’ll be able to rely on the products and services of your first store to support the ones you open in the future. It’s important to have a successful first store before you start expanding. This will help you build a solid foundation for your entire franchise.
6. It’ll Be Relatively Easy to Expand in the Future
The sixth and final reason to invest in a Quick Service Restaurant Franchise is that it will be relatively easy to expand in the future. When you buy a franchise and run it the right way, you’ll develop a solid brand identity.
This will help you attract more customers and make it easier to expand in the future. Once you’ve built a strong foundation based on your first store’s success, you can start looking for new locations to open more stores. Some franchises even provide assistance with finding new locations. With a solid brand identity, you’ll find it easier to make new locations work.
Make sure you select the proper franchise before making your initial choice. Make sure the brand supports your goal and beliefs. You’ll find it simpler to spread your brand in the market and build your business if you’re passionate about the brand you chose. The food service sector is anticipated to expand in the upcoming years, and there are several chances for aspirant business owners to get into the field. Since these company concepts have a history of success, picking a franchise might be a great way to get started.