The pizza industry is huge worldwide but more so in America. So huge that it converts into around 100 acres of pizza every day (or 350 slices per second). Needless to say, with the sheer popularity of this famous food comes plenty of pizza opportunities and pizza franchise opportunities available. Take a look around your nearest town, your are probably going to encounter at least a handful of pizza places. This might present an ounce of worry to the keen entrepreneur but honestly. The market is big enough for everyone with a bit of determination to have a slice (sorry for the pun!).
If you are interested in setting up your own pizza business then you have probably considered your options. Generally you could:
Take over a franchise – Many established pizza companies such as Domino’s and Pizza Hut all offer franchising opportunities where essentially you run your own branch of the store. This can be very rewarding but don’t confuse this option as a easy way out! You are often bound to strict guidelines and expected to meet quite difficult targets!
Open a pizza restaurant – There is usually room for a well run pizza restaurant in every reasonably sized town or suburb. Although this does require a great deal of planning and research you will have much more freedom and opinion in how to run your business compared to pizza franchise opportunities.
Open a pizza takeaway – With this option location is not as important and could be a hell of a lot cheaper than buying premises on a main street. Although the initial outlay may be cheaper you will end up having to manage resources quite closely.
Existing pizza business opportunities – You could of course, buy an existing pizza business. This option is only recommended if you have a certain level of expertise in running a restaurant and bear in mind you have the established reputation of the business that could very well work against you for months to come!
Which ever of the pizza opportunities you are interested in one thing they all have in common is the amount of attention focused on the planning stage of your business. Almost all of the option will require some sort of business plan to get started. Often, banks and investors will not even talk to you unless you have a professional and specific business plan to show them. I recommend that you learn how to write a business plan that includes solid financial forecasts and demonstrates a great detail of market research.
Even a professional business plan may not be enough to give you an edge at the beginning of your pizza business, the industry uses an abundance of metrics, specific measurement terms and conformance policies which, if ignored could cause months of delay in the crucial stages of your pizza business. It is recommended that you get access to industry specialist information and pizza business templates to help with your business plan. Alternatively you may need to spend quite a lot of hours finding it on the web!
I wish you the best of luck with whatever pizza opportunities you decide to research!