More people than ever are looking to make a career change and there are few more attractive options than the restaurant and food sector. Noodle bars are becoming very popular in the UK food sector, so if you’ve been thinking about starting your own noodle bar franchise, here’s what you need to start your own noodle bar.
Noodle bars are not only delicious, but they’re quick, versatile and sometimes even very fun franchises to run. Having risen dramatically in popularity in the UK over the last few years, noodle bars are as popular as they've ever been, so now could be the perfect time to start your own noodle bar.
What does a noodle bar franchise do?
Noodle bar franchisees operate slightly differently depending on how the specific franchise wants them to operate, but as a whole, noodle bar franchises provide a range of noodle recipes to their customers.
Given the booming popularity of noodle bars over the last few years, many noodle franchises have been hard at work putting together new recipes to cater to a number of different audiences and tastes. Noodle bars are seeing big demand so now could be the perfect time to start your own franchise.
Should you start a noodle bar franchise?
In 2018, Asian restaurants were the third-fastest growing restaurants in the UK [local data company], meaning that many Asian dishes and restaurants have been consistently growing in popularity.
Within this, another major trend in the UK is mobile, fast and footloose restaurants. These fast restaurants lend themselves perfectly to noodle bars. Many of the major trends within the food and restaurant industry are perfect for the kinds of mobile and speedy services that noodle bars thrive on.
>> Read more:
- Advantages of Running an Indian Food Restaurant
- Top 5 Sushi Bar Franchises in the UK
- 8 Things to Ask Yourself Before Opening a Sushi Restaurant Franchise
- 6 Advantages of Running a Japanese Restaurant Franchise
- 5 Mouth-Watering Asian Food Franchises in the UK
- Q&A: Does Ichiran Ramen Franchise in the UK?
- Q&A: Does Marugame Udon Franchise in the UK?
How to start a noodle bar franchise
1. Identify the market
There are a number of exciting noodle franchises currently operating in the UK and each of them will have their own strengths, weaknesses and unique selling points. Before getting yourself set up, you’ll need to identify which of these franchises appeal to you, which don’t, and which you think will be the best option for your area.
When you’re researching the market, you should highlight:
- Which franchises will suit my chosen area?
- Which have the most room to grow?
- Which have been growing the most?
- How do they operate? Do you like how they operate? Are there ways you think they could improve?
- What types of noodle bar are there? Would you prefer a remote, sit-in or ghost kitchen franchise?
There are countless questions you could ask yourself, but once you’ve researched the market and filtered down your choices, you should have a good idea of which franchises are a better match for you.
2. Assess your financial situation
Different franchises have different financial requirements. Choosing the right franchise can sometimes even come down to which ones are more affordable. Up front, you’ll need to make a minimum investment into a franchise to get started. You may have to pay franchising fees as well and although this might sound a lot to get a business started, support is available.
Many major banks are willing to lend to individuals looking to get started in a reputable business. Often, businesses will lend up to 70% of all start-up costs. Some franchises will even have their financial brokers to help you get the best deal, so price doesn’t always need to be the biggest obstacle.
- Some franchises, like Camile Thai, will require you to make a minimum investment of £100,000.
- Thai Express, however, will ask for a minimum investment of £50,000.
Only buy into franchises whose margins you know you will be able to work with. After all, starting a business is as much about your profit, as the business’.
>> Read more:
- Franchising 101: The Official Franchise Start Up Checklist (Part 1)
- Franchising 101: The Official Franchise Start Up Checklist (Part 2)
- New Year, New Career: No Better Time Than Now to Start a Franchise Today
- Franchising 101: 8 Signs You're Ready to Start a Franchise
- Starting a New Business Doesn't Always Lead to Immediate Success: Here Are 5 Ways to Change That
- It's Never Too Late to Start a New Business
3. Tap into trends
The food industry isn’t standing still and this means that there’s plenty of room for innovation in this industry. While many franchises will have their own ways of working, you shouldn't be afraid to suggest ways to improve.
There are a number of major key trends that are turning restaurants into modern, tech-friendly enterprises and if you see an opportunity to include some of these into how your business operates, you could gain a significant advantage on some of your competitors.
While as a franchisee, you’ll be the more junior partner, you can still have a constructive relationship with your franchisor. If you spot an opportunity to innovate, you should feel free to suggest a new way of working. Whether it be marketing, sales, trends or changing customer demands, always keep on top of trends in your industry.
4. Market your franchise
Your franchisor will have a pre-existing marketing strategy, but that doesn’t mean you can’t contribute to it. Marketing is never standing still and there will always be many new ways to market your franchise. Whether you’re looking at going viral or using a new platform to sell your business, you should get as creative as you can get.
5. Go the extra mile
Starting a new business is never easy, but whatever franchise you decide to get started with, you shouldn’t be afraid to go the extra mile to help make it a success. There will be bumps in the road, but with the right attitude, determination to succeed, and ambition to grow your business whatever it takes.
One of the biggest benefits of being a part of a franchise is that you’ll be able to benefit from numerous training and support schemes, so you’ll never need to worry about staying on top of new technology or ways of working. Take advantage of everything your franchisor wants to teach you, apply it to your business, and give it everything!
Become a franchisee in the noodle bar industry today!
Starting a business is never easy, but by putting into practice some of these key tips, you should have a better understanding of what it takes to make a career change and start your own noodle bar business.
Or, if franchising sounds like the right thing for you but the food industry isn’t, you can see a full range of franchising opportunities on the UK franchising directory.
Elliott Fudge, Point Franchise ©