Business Tips from Fire & Rice Paella Catering Founder, Paul Schmidgall: 7 Questions You Should Ask When Buying a Franchise
If you’re considering buying a franchise, you know it’s important to gather as much information as possible about the business model before making a commitment, but how do you know what to ask? As part of his business tips series, Chef Paul Schmidgall, founder of the booming Fire & Rice paella franchise, recommends asking seven crucial questions to determine whether or not a franchise is right for you.
To get some real-world answers to these seven essential questions as they pertain to Fire & Rice, we interviewed Nick Neveau, franchise owner of Fire & Rice in Lansing and Ann Arbor. Nick took the time to answer our questions and share his experience about taking on the Michigan locations.
7 Key Questions to Ask When Buying a Franchise
1.) Is Your Franchise a Success?
When buying a new franchise, you want to assess the success rates of the existing franchises. If they’re doing well, you can feel more confident knowing there is a process in place that works and will help you reach your financial goals. Make sure to find out the success rates of each franchise as well as any reasons why a franchise may have failed.
For Nick Neveau of Fire & Rice in Lansing and Ann Arbor, the phone is ringing off the hook. When we talked to Nick at beginning of his third season, he said he just had eight voicemails over the weekend and that the business was growing just as he wanted it to. Nick said that a lot of his success is due to the training and support he gained from the franchisor, Chef Paul Schmidgall. Before getting his franchise up and running, Nick spent six weeks at Chef Paul’s Naples’ catering location learning the business.
Nick reported that Chef Paul’s communication with franchisees is second-to-none. Since Chef Paul has been running the original Fire & Rice location in Naples for more than a decade, he’s able to share what works when it comes to growing the business as well as what to avoid. Since Nick has worked with other franchise groups over the years, on the side of the franchisor, he can say without a doubt that Chef Paul’s level of support is phenomenal.
2.) What Has Been the Biggest Challenge to Overcome When Starting a Franchise Location?
While there are challenges that are common to owning a new business, such as having enough capital to get started and putting in the overtime necessary to get things off the ground, it’s also important to understand the challenges that are specific to a given franchise. Determining these unique challenges upfront can give you the insight you need to make an informed decision as to whether the franchise is a good fit for your business goals.
Nick said one of the challenges that he personally needed to overcome was doing something on his own that he’d never done before. While Nick had extensive experience in the restaurant business, he was new to the paella concept. He wondered, is paella too narrow of a focus? Is it enough to do one thing really well?
After his first event, Nick quickly learned that what Fire & Rice does is very unique. By using the best ingredients in the world and sharing award-winning paella in an interactive, communal setting, people can’t wait to get in on the fun. It’s different from traditional catering fare, the concept is exciting, and people rave about it.
The scalability of the business is also an advantage. Nick told us he could be hosting a party of 20 one night and an event for 400 the next, and the business is set up to make that work well. And it’s a great product – people absolutely love it.
To get the remaining five questions and answers, please call Fire & Rice paella catering in Naples at (239) 269-8857 or email email@example.com.
Award-Winning Paella in Naples Takes Off Around the Country
Chef Paul brought the Fire & Rice paella catering concept to Southwest Florida more than ten years ago and it caught on like wildfire. Now you can enjoy his award-winning paella in Naples and multiple locations around the country. If you’d like to learn more about Fire & Rice franchise opportunities, go to our website or contact Chef Paul at (239) 269-8857 or email firstname.lastname@example.org.