Most of us are fond of dining out in restaurants with our colleagues, families and friends and for that reason, most of the business-minded individuals are buying the franchising opportunities offered by the restaurants that are already popular in the business world. Restaurants are described as businesses that tends to prepare and serve foods and drinks to their customers in exchange of their money and such kind of businesses are also called as eateries. The foods and drinks or the meals offered by this kind of businesses are most commonly served by employees, waitresses or waiters, and eaten by the customers on the premises of the restaurant, but some are also offering home delivery and take-out services. 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. Restaurants that are classified as diners, airport restaurants, hotel restaurants, and major fast food chains are offering and serving all the major meals, like lunch, dinner and breakfast. Some other types of restaurants only serves and offers kids’ meal, two meals like lunch and dinner, alcoholic beverages, and a single meal. 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 already recognized as an alternative of building and creating chain stores of restaurants to distribute goods, services and products which avoids any liability and investment of a chain, and it is also a term used by the people as a foreign market entry code. 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 contract that is legal and bounded between the franchisee and the franchisor is basically called as the franchise agreement, and the common contents of such contract may be based on the state jurisdiction of the franchisor, the franchise system of their local state, the franchisee, and the arbitrator. The business-minded individuals who plans to purchase a franchising opportunity offered by restaurants can select the best one through the word of mouth of the restaurant’s existing clients, through the use of the internet, through the recommendations of their families and friends or colleagues, or through the restaurant’s print ads.