How to Buy a Taco Bell Franchise
A Taco Bell franchise can be rewarding as they are a leader in the fast service Mexican-style food business. They are also part of the largest restaurant system in the world. Taco Bell is owned by Yum Brands, which makes them partners with Long John Silver's, Taco Bell, Pizza Hut, Wingstreet and A&W.
This partnership offers a few more advantages, but you must meet some requirements.
Consider opening more than one franchise. Yum Brands focuses on multi-branding, and may encourage you to choose a second franchise to place alongside your Taco Bell franchise. This means you'll draw in groups of people who want a wide selection of food options. Open a Pizza Hut, KFC, Long John Silver's, Wingstreet or A&W restaurant alongside your Taco Bell franchise.
Find a third-party lender for the initial startup costs. You'll need between £600,00 ($1 million) and £1,500, 000 ($2 million) to open a Taco Bell franchise and more if you open a dual restaurant franchise. You must pay Taco Bell 5.5 percent royalty fees on sales. However, in exchange you get training, advertising and operations support.
See if you meet the financial and experience requirements Taco Bell mandates. Taco Bell requires franchise owners to have a net worth of £600,00 ($1 million) and liquid assets of at least £200,00 ($360,000). You'll also need experience in food service, general business and marketing.
Decide if you can make a long-term commitment. Taco Bell requires a 20-year franchise commitment.
Contact Yum Brands if you're interested in pursuing a Taco Bell franchise. Go to the Yum Brands franchising website and click on "Getting Started" to submit a questionnaire and contract information.
Wait about a month while Yum Brands assesses your qualifications to own a Taco Bell franchise. You must draft up an operating plan by the end of this time period, so begin working with accountants and business partners before you contact Yum Brands. You might also want to contact a franchise attorney at this time to help you work with Yum Brands.
Continue the process with Yum Brands towards your Taco Bell franchise. If you are approved, you'll have interviews with Yum Brands officials and Yum Brands can help you choose and attain a site your Taco Bell franchise. The approval and planning process takes up to one year.
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