Ice Cream Franchise
Ice cream franchises can be market-tested, smart investments for someone looking to open a new business with the guarantee of a solid product behind it. Buying one might be the golden opportunity an entrepreneur has been looking for, but as with all business decisions, it is critical to carefully research the market, all options, and to make the decision with the facts and figures collected, not one's taste buds.
The first step in purchasing a store is to request information from several chains. The advantage of buying a franchise as opposed to starting a business from scratch is that investors buy into a proven business formula with strong corporate backing and a proven product. They need to compare franchises to evaluate business structure, amount of investment needed, and level of ongoing corporate support. Most importantly, entrepreneurs must make sure of the quality of the product for each ice cream franchise of interest.
Next, begin collecting data determine if the market is strong enough to support an additional store in the area of interest. If entrepreneurs are opening ice cream franchises in areas with cold winters, it's best to account for seasonal fluctuations in sales. They need to ask the franchisor to present the information they have done which shows that the area can support another ice cream franchise. It is in the corporation's best interests to ensure that their stores succeed, so potential owners will likely have done research to assure a strong local customer base.
However, investors do not solely want to rely on information from the corporation before investing since they ultimately are taking a bigger risk with the investment. It's wise to call the franchisor and ask for names of other franchisees that have opened up shop in nearby areas. This will give the entrepreneur a good idea of what kind of sales volume to expect and what issues are likely to occur. Additionally, investors can contact trade groups in the ice cream industry for statistics related to ice cream franchises that can assist with the final decision. Entrepreneurs may have to pay a small fee for the data, but these groups provide data about how much ice cream is consumed and purchased at an ice cream franchise versus restaurants and fast-food vendors.
Those who are satisfied that the market will support an additional store and that the investor has located a franchisor with whom they feel a strong business relationship is possible, they can move on to the other logistics of starting the business. Luckily, by purchasing a franchise, the owner will receive a wealth of guidance and proven best-practices to follow when starting up. With the right research and God's guidance, ice cream franchises can be a wise and "sweet" investment. "How sweet are thy words unto my taste! yea, sweeter than honey to my mouth!" (Psalm 119:103).
The first step in purchasing a store is to request information from several chains. The advantage of buying a franchise as opposed to starting a business from scratch is that investors buy into a proven business formula with strong corporate backing and a proven product. They need to compare franchises to evaluate business structure, amount of investment needed, and level of ongoing corporate support. Most importantly, entrepreneurs must make sure of the quality of the product for each ice cream franchise of interest.
Next, begin collecting data determine if the market is strong enough to support an additional store in the area of interest. If entrepreneurs are opening ice cream franchises in areas with cold winters, it's best to account for seasonal fluctuations in sales. They need to ask the franchisor to present the information they have done which shows that the area can support another ice cream franchise. It is in the corporation's best interests to ensure that their stores succeed, so potential owners will likely have done research to assure a strong local customer base.
However, investors do not solely want to rely on information from the corporation before investing since they ultimately are taking a bigger risk with the investment. It's wise to call the franchisor and ask for names of other franchisees that have opened up shop in nearby areas. This will give the entrepreneur a good idea of what kind of sales volume to expect and what issues are likely to occur. Additionally, investors can contact trade groups in the ice cream industry for statistics related to ice cream franchises that can assist with the final decision. Entrepreneurs may have to pay a small fee for the data, but these groups provide data about how much ice cream is consumed and purchased at an ice cream franchise versus restaurants and fast-food vendors.
Those who are satisfied that the market will support an additional store and that the investor has located a franchisor with whom they feel a strong business relationship is possible, they can move on to the other logistics of starting the business. Luckily, by purchasing a franchise, the owner will receive a wealth of guidance and proven best-practices to follow when starting up. With the right research and God's guidance, ice cream franchises can be a wise and "sweet" investment. "How sweet are thy words unto my taste! yea, sweeter than honey to my mouth!" (Psalm 119:103).
Ice Cream Franchise
![]()
Reviewed by Anonymous
on
6:10 PM
Rating:
