Is Owning A Bar A Smart Investment?
Many people wonder how to turn the dream of owning a bar into a reality. Franchising concept, Fox & Fiddle, takes the guesswork out of opening up your own business, and living the life of your dreams.
By Casey Thorp
Aug 16, 2012
The life of a bar owner seems one of the most glamorous that many people can imagine - Late nights, fun atmosphere, beer flowing, meeting fun and interesting people, and working outside the shackles of the “9-5 life”. So why doesn’t everyone own a bar? A likely turn off is the fear of the business failing, especially with ‘sobering’ statistics claiming that a majority of small business start-ups will not make it to see their 3rd year. A route that many entrepreneurs have found success with is franchising, working with a proven system to maximize their chance at success.
The fast casual dining segment came out the clear winner during the economic recession. In recent years, consumers and investors alike turned towards cheaper, quicker options rather than their full serve counterparts. However, many restaurant industry experts are predicting that will soon change, with a recent article in Restaurant Smarts pointing to many indicators and claiming that the market conditions “bode well for new [full serve] concepts”.
Dan Rowe, founder and CEO of Fransmart, the franchise development company responsible for launching the franchise programs of explosive brands like Five Guys Burgers and Fries, says in the same article, “Sit-down dining franchises could be the next hot thing”, but qualifies this statement by saying, “Aging brands might not have the same charismatic appeal as emerging concepts.” With confidence re-emerging, it is a ripe time to get in on a fresh, new and exciting full serve concept - especially one with a lively atmosphere that doubles as a bar concept, like Fox & Fiddle.
Fox & Fiddle is a concept that has 19 units open across Canada, and is looking to begin franchising in the United States. They offer the perfect mix of having a respected, established brand (founded in 1989), and a management team with a wealth of experience, combined with the novelty of a fresh concept, as it is relatively unknown in the U.S. market. Standing on the backs of a successful management team and utilizing the benefits of franchising, is a method that many entrepreneurs have found success with, and now especially with the economy on a seeming upswing and experts citing full serve as "the next, hot thing". Fox & Fiddle has plenty of success stories circulating - and if you've ever believed that you belong in the bar/restaurant industry, this is a solution that will hedge your bets just enough to allow you to break in successfully.