{"id":1063,"date":"2017-06-21T06:11:55","date_gmt":"2017-06-21T06:11:55","guid":{"rendered":"https:\/\/invoice.ng\/blog\/?p=1063"},"modified":"2017-12-08T21:29:42","modified_gmt":"2017-12-08T21:29:42","slug":"just-how-much-does-it-cost-to-own-a-fast-food-franchise-in-nigeria","status":"publish","type":"post","link":"https:\/\/invoice.ng\/blog\/just-how-much-does-it-cost-to-own-a-fast-food-franchise-in-nigeria\/","title":{"rendered":"Just How Much Does It Cost to Own a Fast Food Franchise in Nigeria?"},"content":{"rendered":"
\n
The fast-food franchise business is a business with ‘ready made’ customers which entrepreneurs can easily jump on and explore. The business involves partnering with a ready-made fast food brand such as Mr Biggs, \u00a0Chicken Republic etc. and pretending to be the brand in an area you deem good for business. It doesn’t come cheap but it’s a lucrative and highly profitable business with good turnover within a very short period of starting.<\/div>\n

Why should you start a fast food franchise business?<\/h3>\n
Fast food restaurants, otherwise known as quick service restaurants or eatery, are preferred by all age-group of consumers and its primary target audience\u00a0is the ever busy and highly paid individuals such as Bankers, Medical Personnel, Programmers; and not leaving out those who want to impress their date for the first time.<\/div>\n
<\/div>\n
There are a lot of values you offer as a fast-food entrepreneur to your target market, one of such is that it is fast and efficient. This means that people can get food on-the-go, without wasting time and the food can be packed and ready for takeout at any time. Likewise, it’s is convenience and affordability. Consumers don’t have to go through the stress of preparing their own meal.<\/div>\n<\/div>\n
<\/div>\n
For example, I a very busy city like Lagos, people working at a far distance have to leave their homes very early in the morning and by this time they cannot do any cooking of their own, they resort to buying food from fast food restaurants, which is a plus for you as a business man or woman. Running a fast food restaurant business in a strategic location will boost patronage and grow your business exponentially.<\/div>\n
\n
According to the president of the association of fast food and confectioners of Nigeria: Fast foods contribute up to N200 billion in the growth of the economy annually and that all its members pay up to N1 billion in taxes and levies.<\/div>\n<\/blockquote>\n

So what’s a fast food franchise business and how does it work?<\/h3>\n
The franchise model is often described as working for yourself, but not by yourself. The concept is a simple one, whereby a successful business or successful brand has chosen franchising as a way to expand rapidly but has chosen a business model that works with local owners of local businesses.<\/div>\n
<\/div>\n
The benefits of buying a franchise a huge compared to starting your own thing from the scratch.<\/div>\n