How to Open a Chipotle Franchise
A lot of people now are considering other options that are healthy in the fast-food industry.
Mexican foods are known to be healthy and at the same time very fast to prepare. Chipotle is a restaurant that specializes in Mexican foods.
Choosing the right type of business can be very difficult and confusing at times, especially when you do not know which field you will set in. Today, a lot of customers are now switching from eating unhealthy fast foods to healthy ones. Chipotle Grill is a fast-food type of business that serves rather healthy foods but provides a restaurant-like service, environment, and food quality.
In purchasing a franchise, it is very important that you know the company’s history first to be able to determine what type of people you will be doing business with. It was in the year 1993 that Steve Ells opened the first-ever Chipotle Mexican Grill. He then opened a second branch in Colorado only after two years he opened his first branch. And in 1998, Chipotle expanded its business in Kansas City. Today, there are over 830 Chipotle Mexican Grill franchises all over the country.
After knowing the history of your chosen franchise company, the next thing you should do is to know your net worth. Your net worth will be a major factor in whether you can afford to purchase a Chipotle franchise or not.
One way of determining your net worth is by preparing a Statement of Financial Position or commonly known as the Balance Sheet. This statement includes your asset, liabilities, and equities. In order to determine your net worth, you should subtract the total amount of what you owe from the total amount of what you own (Assets minus Liabilities). Once you have done this, you will now be able to determine your net worth.
After determining your net worth, you should now be able to identify whether you can fund a Chipotle franchise all by yourself or not. In the event that you do not have enough amount of money needed to start your own Chipotle franchise, you can seek help from lending companies by borrowing money from them. Another way to have enough money is by borrowing from the banks. One thing you should consider though in borrowing money is to only borrow the necessary amount in order for you to start your business. You should not be borrowing the amount of money that is beyond your paying capabilities because you do not want to end up being in debt while doing your business.
Finally, after studying the business and determining your funding options, it is now time to actually purchase your Chipotle franchise. But the franchising cost is privately determined by the corporation on an individual basis.
- Tips on Decorating a Restaurant
Do you know how to decorate a restaurant? Even if you’re not an interior designer, you can use the web and other info sources to decorate it properly. Choose the overall feel or theme that you want to use.
- Financing a Restaurant Franchise
Restaurant franchise financing is available to all interested franchise applicants as there are several financial packages and aid available in both government and private institutions.
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