CEO Boomers Parks | Board Director Coney Park | Family Entertainment, Restaurant and Food & Beverage Turnaround Specialist
Not all franchising is the same. Take restaurant franchises versus Family Entertainment Centers for example. The two represent distinct approaches to the business landscape. Restaurants focus on selling products, their success often hinges on factors like supply and demand dynamics and the impact of inflation on ingredient costs. FECs offer a unique proposition by selling experiences and leisure time. Unlike tangible goods, the supply of time remains constant, providing FEC franchisees with a more stable revenue stream regardless of economic fluctuations. Additionally, FECs have the added benefit of offering quality food alongside their entertainment offerings, enhancing the overall customer experience and diversifying revenue sources. The streamlined model of an FEC allows franchisees to prioritize customer experience and innovative marketing strategies for growth and profitability. Understanding these differences is key to make informed investment decisions aligned with your business goals. Interested in learning more? Schedule time on my Calendly today on timmurphyceo.com #franchising #restaurantowner #FamilyEntertainmentCenter #businessdiversification.
Mary Gardner
5mo
So true!! Love the pic! So cool!
New Business Development Professional
5moTim, this is why the NFL doesn't sell tickets to football games. They sell "events." The spectacle leading up to and during the game, halftime shows, big screen TV's all around, booming music. The game, itself, used to be "a guy thing," and alienated women and kids. Now, the audience is everyone! Tim, you're talking about the difference between a meal and an experience. You are creating "an event."