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Food franchises come in many shapes and sizes, including quick and full service, storefront and mobile, snacks, beverages, and full meals. We suggest you do your homework to determine which type of business fits your financial constraints, personality, flexibility and desired lifestyle.
Many “brick and mortar” (permanent structure) franchises will cost more money due to being in a fixed or permanent location. These costs could include construction of a new building, retrofitting an existing building, insurance, building/land taxes, equipment and wages for staff during operating hours.
There is not a lot of flexibility with owning and operating a “fixed” location business. These types of operations are generally much costlier and demanding than other types of opportunities. Staffing for published open hours and costs of good and supplies are two reasons why. Owners typically state that this type of franchise ownership is a 60 to 80-hour work week.
Mobile franchises allow owners the ability to take their business with them to locations where people go to have a good time with family and friends. These could include sports arenas, stadiums, ballparks, fairs, festivals, convention centers, airports, shopping areas and many more. The possibilities are endless!
Mobile franchises could include carts, kiosks, and/or food trucks. These types of businesses offer low overhead, accessibility to customers in a wide number of locations, flexible hours (which you determine as an owner), and they are generally home-based. Due to the flexibility, many owners can choose to work part-time.
How do you choose the right franchise?
Start with your financial situation. Do you have cash or anything you can liquidate to acquire cash (land, property, retirement plans, etc.)? Can you borrow against your 401k plan? Speak with a financial advisor at your local bank or credit union. They should be able to address any questions you may have in this regard.
Explore franchise opportunities that fit your lifestyle, sound exciting and interesting to you and your family, and fall within your budget.
Do your homework. Learn as much as you can about each opportunity you are interested in. Meet the franchise founder’s/leadership team at a discovery day, talk with existing franchisee’s and ask questions.
To learn more about buying a franchise refer to our newsroom and read, ”Are You Considering a Franchise Opportunity?” article.
Totally Nutz Newsroom
About Totally Nutz®
Since 1990, Totally Nutz® has been freshly roasting cinnamon glazed nuts at local sporting events, community events, and shopping areas. Totally Nutz was founded by Matt and Yvette Barker who were looking for a family-friendly business which would allow them to spend more time with their young children. To date, Totally Nutz Franchise now has over 65 franchises located throughout the United States.
Totally Nutz pairs well with sports, shopping, concerts and other event types where people gather to enjoy family, friends and to have a good time. For more information about owning a Totally Nutz franchise, visit
http://www.totallynutzfranchise.com
