A lot of people are fond of going to restaurants with their families, friends or colleagues and love ones, which is why a lot of business-minded individuals are purchasing the franchising opportunities offered by the restaurants that are already known in the business industry. A kind of business that tends to serve and prepare foods and drinks to their customers in exchange of their money, is called as restaurants or eateries. Some restaurants are offering their customers with home delivery and take-out services, but commonly, the drinks and foods they offered are being served and eaten on the grounds or premises of the restaurant or eatery. A restaurant may vary on their offerings, like the price range of their menus, their cuisines, and their service models; as well as their sizes and their appearance. The restaurants that offers and serves the three major meals, such as breakfast, dinner and lunch may be classified as hotel restaurants, diners, major fast food chains, and airport restaurants. Some other restaurants are only offering and serving alcoholic beverages and a single meal, kids’ meal, and two meals, like dinner and lunch. There are definitely a lot of restaurants that became very well-known in the whole world, and because they are already trusted by the people, especially their customers, most of these restaurants are offering franchising opportunities to the businessmen who plans and wants to own a restaurant franchise.
The practice of the right to use the business model of a restaurant, as well as their brand, for a prescribed period of time is called as franchising. Franchising is also a term used by business-minded individuals as a foreign market entry code, and it became known as an alternative of creating chain stores to produce and distribute service, products or any other goods that avoids the chain’s liability and investments. The franchising industry believed that the franchisor’s success will be based on their franchisee’s success, which is why the franchisors are advised to purchase the franchising opportunity provided by well-known restaurants. A franchise agreement is defined as a binding and legal contract between the franchisor and the franchisee, and its content will be based on the franchisee, the arbitrator, the state jurisdiction of the franchisor, and the franchise system of their local state. The businessmen and businesswomen who wants to purchase the franchising opportunities offered and provided by the best restaurants can locate them through the recommendations of their families and friends or colleagues, through the restaurant’s print ads, through the word of mouth of the restaurant’s existing clients, or through the use of the internet.