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Seven Key Elements to a Successful Opening: Owner Commitment The owner must understand the commitment involved in owning the franchise, particularly in the first year. They must have the ability and willingness to work hard. This business doesn't build character - it reveals it. You can expect 60 to 80-hour work weeks the first year of opening. Anything less and you will not learn the operational side of your business or develop your customer base properly. Owner Training You can't be over trained but you will likely find yourself feeling under-trained when you first open. Get all the training you can! Lack of owner training is the number one reason for weak store openings. Besides corporate provided training, spend time in other stores, meet the owners, work new store openings and work with the training team. Utilize all of the training materials provided. Employee Training The training team will initially train your staff, however, it is up to the owner to maintain ongoing training. This requires a comfort level by the owner/operator to teach and to possess the experience and knowledge that comes from working with people. Have your new employees as well trained as you can prior to opening your restaurant by having them work in other stores whenever and wherever possible. Follow training procedure guidelines with key trainer. Implement a solid program of training that is consistent with your staff. Quality Site in a Healthy Market Even though our concept has historically drawn a large percentage of frequent users, site location in the right markets is a key to long-term success. Accessibility, visibility, street and or foot traffic, and adequate parking are important factors to consider with every site. Organizational Structure The most successful Panini's are organized around an owner/operator who has funded the business and is in day-to-day control. The next best organizational structure is having a minority owner/operator who is the day-to-day operating partner. The least satisfactory organizational structure is having a manager without equity in the business. These arrangements often fail, require extensive overseeing by the owner, and typically are not stable or long term. Media Marketing Media can drive new customers to your store, remind existing customers of your presence, and communicate an image of our brand. Media can have powerful short-term effects, but can lose influence over time as the message becomes stale. It should be restructured often and conveyed utilizing variety and creativity catching your target market. Capitalization Adequate liquid capital is essential to the success of your store. Plan on having no income from your store for the first six to twelve months. Plan for emergencies, i.e. accidents, theft, breakage, and slower than expected sales. Having a reserve of at least $40,000.00 should be a part of your capitalization planning. |
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