We all prefer going out for eating. We have our favorite restaurants where the food is the way we like it, the service is great, and the atmosphere keeps bring us back. The affordable price range and the special offers make the dining even more special.
Everyone has their own favorite restaurant. You can choose any of the restaurants that offer special breakfasts or lunches. Some only have dinner menus. Still others only serve lunch. Some have been in business for a long time. Others have just started the operation.
IHOP is one of the most popular restaurants. It has been around since 1958 when it established its first store in Toluca Lake, California. The parent company, DineEquity, Inc. has been franchising since 1960 and has stores in 49 states, Canada, and Mexico. It is a popular family restaurant. It offers breakfast, lunch, and dinner.
What needs to be done to start an IHOP restaurant franchise.
You are going to have to have a net worth of about 1.5 million with close to $500,000 in liquid assets. In order to get the approval you need to have little bit of experience in this field of work. The company is not going to help you in financing the franchise. So if you do not have all of the cash for the franchise fee, be prepared to talk to a bank.
After the approval you will be given training in the main office. That store is constructed to strict guidelines and requirements. The place should accommodate 185 people. The area population should be between 25,000 to 50,000. Your lot size must be about 40,000 to 50,000 square feet if it stands alone and 10,000 to 20,000 square feet if it is part of a shopping or grocery establishment. This allows for enough parking space for your customers.
Opening an IHOP franchise will be nice for people who have experience in business. If you meet all the requirements you will get the necessary training. You will get help from the chain in the areas of food and training. The employees need to be hired by you. It helps that the chain provides employment application templates, but you will have to interview them.