Western Canadian restaurant chain OPENS more stores during the pandemic
With all the hardships experienced by restaurants throughout the pandemic, it’s interesting to see a few new places opening up. strEATS is a Western Canadian chain that takes food truck favorites into a venue. And there are several of them in the Fraser Valley with the newest one just opening in Maple Ridge. Watch as Mike Klassen talks with Gloria Macarenko from CBC Vancouver. Click to watch Gloria Macarenko interview Mike Klassen from strEATS
Skew up your Summer 6 pack with Joey’s Fish & Shrimp Skewer feast
Starting May 10, customers at Joey’s Seafood Restaurants and Joey’s Fish Shacks across Canada will get a great summer deal on the perfect size family meal.
“Limited access to our dining rooms have allowed us to pivot to take-out and our 6-piece Joey’s Fish & Chips is the perfect size meal for a small family," says Joe Klassen, founder and CEO of Joey’s Only Franchising Ltd. "Feeding your family for under $30 is tough these days, this deal is perfect for most family cohorts.”
Throughout the summer, seafood lovers can feast on this picnic style meal, complete with plenty of natural-cut fries and house made coleslaw. At $29, it’s hard to argue with the value. In addition to the 6-piece meal, Joey’s customers can feast on Shrimp Skewers – flavoured with Sweet & Spicy Thai, Seafood Sauce and Chipotle Aioli.
“We are happy to help keep the costs of feeding your family down," says Dave Holland, Vice President of Marketing and Design, Joey's Restaurants. “Our 6-pack makes a great summertime picnic and our Shrimp Skewers are a delicious value.”
strEATS Restaurants is Franchising in BCs Lower Mainland
Joey’s Only Franchising has hit it out of the park. Now introducing the franchising of their newest Fast Casual Brand – strEATS Restaurants.
An off-shoot of Joey’s Urban Restaurants, strEATS was developed after a lot of reflection. There we were – Canada’s favourite Fish and Chip Company – and suddenly the food world got smaller. Flavours from all over the planet made their way into our fridges, food shows made stars of everyday people, and street vendors and food trucks became the innovators instead of French Chefs. People love our Fish and Chips but there are so many great flavours out there!
We ate our way across the planet and married our strength with a world of flavours. First, we made the best Fish Taco you’re ever likely to eat and then we heaped some Canadian inspiration on top of our fries and made amazing poutine. But that wasn’t enough!
There are so many wonderful flavours out there that we started putting everything that inspired us into tacos and on top of poutines. Fresh, hand-prepared ingredients; bold, global flavour collisions, and sustainable sources. No speed limits on these strEATS!
Since it was street food that inspired us in the first place, our name strEATS was born.
“Joey’s Urban was confusing to many consumers. Some thought it was a furniture store, others thought it was from another restaurant brand,” said Joey’s Vice President of Marketing Dave Holland. “As much as it drew attention to our offering, it caused too much confusion. We think strEATS is a little more straightforward.”
With a third restaurant now open in Abbotsford, BC and another opening scheduled for Langley by mid-June, strEATS is becoming an extremely popular fast-casual franchise opportunity especially popular among younger restaurateurs. Joey’s Franchise Group has over 30 years of franchise experience guiding and supporting their franchise partners for this millennial themed restaurant.
“We are actively seeking entrepreneurs interested in joining our franchise network for strEATS across Canada. Active markets include Calgary, the Lower Mainland, Edmonton, Ottawa,” added Holland.
Check Out the latest opening in Abbotsford, BC. https://www.facebook.com/StreatsAbbotsford/. For menus and additional information, visit https://streats.ca/our-locations.
The Fundamentals of How a Franchise Really Works
Discover the basic elements of how a franchise works and the benefits it brings!
Have you ever noticed that there are certain phrases or terms that are thrown around frequently at business meetings or at dinner parties that very few people truly understand. Many of us assume that we are the only ones in the room that don’t grasp the finer details of the subject in question, when in reality, the majority of the population doesn’t fully understand the general concept.
Some current examples may be bitcoin, blockchain, or search engine optimization. There are also some classic examples such as escrow accounts, stock derivatives and franchises. Yes, we all have used or heard the word franchise in a business or personal setting, but do you really know how a franchise works? What are the legal permaniters? How does a franchise owner make money? Can you do whatever you wish with a franchise location? Do you own it?
Just like anything else, the franchising model may seem a little complicated at first but if it is broken down into it’s fundamental elements, it is actually very straightforward- and profitable.
The Basic Definition of a Franchise
A franchise is essentially an agreement where the owner of a trademark(s) and a proven business model allows another to use those same trademarks and models in exchange for a recurring payment, a fixed fee, or a percentage of the gross sales.
The owner or the company that is licensing the business methods and trademarks is know as the franchisor. In the franchising agreements that we enter into, Joey’s is the franchisor. The individual who has decided to use the business model in exchange for a fee is the franchisee, who we will call Danielle.
Danielle would then open a clone of a Joey’s restaurant and run the establishment with the continual support of Joey’s head office for a predetermined amount of time, benefitting from the profits earned outside of costs and franchise fees.
What’s the Difference Between Starting a Franchise vs Starting Your Own Business?
When you decide to take the leap of faith and become a business owner, you are venturing into the unknown. Every decision is undetermined and must be decided by you as the owner. There is no guide or plan, you have the freedom to operate as you please. All the costs and the risks fall on your shoulders which is why about 80% of all independent businesses that are started fail within the first year of operation.
In our example from above, when Danielle decides to enter into a franchise agreement with Joey’s, she will be provided a business blueprint, or step-by-step guide to setting up her new restaurant and the team that will run it. She will have to follow specific rules but she will also have all of the details of the operation provided to her including approved marketing materials, signage, business hours, etc.
So what is the biggest difference between the solo entrepreneur and Danielle, our newest Joey’s franchisee? Danielle is utilizing and building upon the proven success of Joey’s model and brand while the entrepreneur is risking at least an 80% risk of failure with an unproven idea.
A Franchise Analogy
Here is a different way to think about a franchise agreement. Let’s say you are really interested in delivering supplies in your city. Becoming a franchisee is like renting a car to complete that task. You know the rental car is in working condition and that it is still efficient if it is in the rental lineup. If anything goes wrong with the car, the rental company will help to solve your issue. Renting a car is a straightforward process, where you only have to follow a few simple steps and you are in business delivering your materials.
Deciding to start your own business is like building your own car. You know you need a car to start your delivery services but you may not be a car expert. You have witnessed people building cars before and you have seen them everyday on the street but you are not sure where to start when it comes to the mechanical details. There is no one there to hold your hand- building the car is in your hands alone.
What are the Main Benefits of Starting a Franchise?
- An established and trusted brand and business model
- Monetary rewards are directly related to your efforts
- Assistance and training from head office
- Indirectly benefit from advertising from other locations
- Less risk
At the end of the day, if you partner with the right franchise group, you will greatly reduce your risk with a proven formula for results and revenues. With a Joey’s franchise, you can have your business up and running quickly with very few unknowns which means you will become profitable sooner.
Have you always wanted to run your own business but want to minimize the risk?
Get in touch with our team today to see if becoming a Joey’s franchisee is the right fit for you!
Are You Ready to Own Your Own Franchise?
Here at Joey’s, we are extremely proud of our business and the franchise model that we have adopted which has allowed our brand to reach millions, while also giving financial freedom to those franchise owners that have succeeded.
Many individuals who are unfamiliar with the world of franchises believe that becoming a franchise owner is an easy and glamorous way to become a wealthy business owner. The brand and business model are already established, so all you have to do is set up shop and collect the profits, right? Not exactly.
There are many things that are not glamorous in the life of a franchise owner, and that’s ok.
If starting and operating a business was easy, wouldn’t everyone do it? There is a lot of hard work involved when opening a franchise. There will be massive obstacles that you will have to overcome. There will be times where you will question your decision to become a franchise owner. And if you are the right type of person, there will come a time where it’s all worth it.
So what are the ingredients that make up a great franchise owner? Are you considering joining forces with the Joey’s brand and opening up your own location? First, discover the key elements every successful franchise owner should naturally embody.
1.Risk Tolerance
Any investment that has the ability to offer significant returns comes with some level of risk. If you are buying a home, the housing market could crash. If you purchase the stock of the hottest tech company, the owner could be caught up in a scandal, making your shares worth pennies. And on the other hand, you may purchase a large quantity of gold and watch it’s international value soar during a banking crisis.
The more risk, the higher potential reward- it is usually as simple as that.
There is always risk involved when you start a new business. There is no way to completely mitigate this risk, however there are ways to reduce the amount of risk involved. This is one of the benefits of a franchise. The product, system and brand has already been proven to be successful and profitable. A franchise location replicates the success that has already been achieved by the original owner. That original owner assumed all the risk at the beginning by starting a brand new business.
So you must ask yourself, what is your true risk tolerance? Are you looking for a safe bet where it is nearly impossible to lose your money? A franchise might not be right for you. Are you daring and bold, wanting to bet the farm every chance you get?
Deciding to become a franchise owner is embracing the Goldilocks level of risk. Not so much risk that everyday will have your heart racing but enough risk to bring significant returns.
2. Personality Type
If you have decided that you are OK with having a little risk mixed into your life, you must then take a step back and analyze your personality type. This is where it is extremely important to be honest with yourself and all other parties that could be effected. When you decide to be a champion of a brand such as Joey’s, there are many people involved who are all betting on you.
Franchise owners are self starters and typically great leaders. They inspire their team and care deeply for their location. A successful franchise owner has the personality of a business owner, with the ability to take some direction and follow the rules of the contracted agreement.
Do you follow rules easily? Of course there is some room to make your franchise your own but at the end of the day, you must follow the rules that are set out in the franchise agreement and be OK with not bending those rules. If you think consistently following rules could be an issue for you, perhaps a franchise is not the best option.
3. Lifestyle
Remember when we mentioned that not all aspects of a franchise owner’s life are glamorous? There will be times when your location needs you. You might need to put in long hours that spill over into the weekends and last late into the night. At the end of the day, you are the leader and you need to ensure that your ship stays afloat.
Of course, you can put amazing employees in place that will make your life much easier but if the alarm sounds in the middle of the night, or if there is a major issue when you are on vacation, your phone will be the one that is ringing.
Again, with sacrifice comes reward. Once you have your franchise running smoothly and have a great team in place, you may have greater flexibility than your friends who have rigid corporate job schedules. You may be able to take your child to their doctor appointment in the middle of the day with ease and then have to work late into the evening the following day. When you are in charge, your schedule can vary but those who persist reap massive rewards.
Franchise Success
There are many factors that contribute to a successful franchise including the right geographical location and a healthy relationship with the franchisor, but the single most important factor is the franchise owners attitude and personality. For some, a franchise is the perfect mixture of freedom, risk and regulations, while some will never find success with the model.
The question you must now ask yourself is, “Are you meant to be a franchise owner?”.
We are always looking for strong candidates to join the Joey’s family. If you think your personality and lifestyle values align with those of the ideal franchise owner, we want to hear from you!
To learn more about sharing in the success of the Joey’s brand, click HERE.
Selecting the Ideal Location for a Canadian Restaurant Franchise
Location, Location, Location:
The old real estate adage of “location, location, location” still holds true in today’s market, and is one of the most crucial aspects to focus on when opening any new business, including a franchised restaurant. Finding the perfect location is easier said than done, especially if you don’t have a background in developing properties for various commercial purposes.
Is Amazon Killing Brick and Mortar?
Although the “Amazons” of the online marketplaces are becoming more successful everyday, the reality is that 94% of all retail sales are still conducted in physical locations. These online transaction trends are having a stronger impact on some industries more than others and luckily for those of us in the restaurant industry, consumers are eating out more than ever.
In Canada, the amount spent at restaurants has increased for 25 years straight, even during periods where the entire economy has struggled, such as 2008. The restaurant industry's growth has been double the rate of inflation, and shows no signs of slowing down as North America has fully adopted a culture where eating outside of the home is a “norm”.
Who is Your Customer?
Just like any business, when you begin to consider locations for your franchised restaurant, the first thing you need to do is fully understand who your target customer is. One of the greatest benefits of becoming a franchisee, especially with the Joey’s Group, is that you gain invaluable data, training and advice from “head office”. In the case of Joey’s, our typical customer enjoys “fast casual dining”, where they don’t receive full table service, but they do demand a higher quality of food and typically look to avoid high quantities of processed or frozen ingredients. These customers favour freshness and appreciate contemporary space designs.
Regardless of the style of restaurant, it is paramount to understand what your target customers enjoy, where they like to spend their time, what their spending habits are, and where they live and work. If you understand these fundamental data points, you can then narrow down your location search to capitalize on the wants and needs of your ideal client.
Remember, you cannot succeed as a brick and mortar style business unless you are physically in the location where the right customers can walk into your business and consume your offering.
Cheaper is Not Always Better
Being financially savvy and controlling your spending are two great pathways that can lead to a successful and profitable franchise. However, when you are selecting a location, you must proceed cautiously and ensure that you are spending enough to secure a property that will bring you immediate and long term success. It may be tempting to take a risk on a cheaper building that is “past it’s prime” or on a location that is slightly off the beaten path, opposed to an ideal location in a developed, busy area.
Many believe that if they perfect their operations and advertise effectively, the customers will come to them! Sadly, this strategy is rarely successful.
Analyze Competition
Instead, start by investigating some of your competitors in town. Take note of how busy they are, during all months of the year. Have they been around for a long time? Is there further development taking place nearby to these locations? If you have a very busy competitor, that has been popular for quite some time, in an area that is continuing to grow, you may have discovered the ideal location to place your franchise.
If you find an area that is extremely popular, with high amounts of consumer traffic, it is important to ensure that the customers in that area fit the description of your target customers. For example, a certain location may be extremely busy, but the majority of consumers there are visiting McDonalds, Burger King, and a discount grocery store. We have already determined that a Joey’s customer likely avoids large amounts of processed foods, so if they favor fast food chains, they may not be a great fit for your future restaurant. This is a great lesson to learn when analyzing traffic. Plentiful foot traffic does not necessarily translate into a concentration of consumers that will purchase your offering.
On the other hand, if an area has another “fast casual restaurant” that is bustling all year long, this is a great indicator that a restaurant like Joey’s might flourish here. One fast casual restaurant that is consistently at capacity is a great sign, however if there are already three or four restaurants of this style in the area, the local market could be saturated and may not bring long term success.
Additional Considerations with Location
If you are narrowing in on a potential location, it’s a great idea to spend some time pounding the pavement in the surrounding area and get a feel for the neighbourhood. Is it easy for customers that are driving by to navigate into your location? Is parking a major concern? Are there any additional activities or festivals that happen in the area that could add or pull traffic from your business?
Again, this is where the experiences of a great franchise group can make the difference. Many of our owners and managers have been through all the situations and experiences you may be trying to visualize. A few strategic questions sent their way can be the difference of a flawless grand opening or a franchise that never gets off the ground.
Have a location in mind that you believe would be perfect to create the next Joey’s Restaurant or Joey’s Urban? Contact our franchise team today and ask for your free information package that will outline exactly what your future as a franchise owner may look like!