US corporate QSR operator Yum! Brands says it will start selling Pizza Hut franchises across China.
According to a report in China Retail News franchisees will be invited to take over existing restaurants rather than open new ones. This course is more likely to lead to to successful financial returns for the franchisees due to an established customer base and management. Site selection, recruitment and training will thus not be required.
According to the report, franchisees will not be able to choose a specific restaurant or city – they will be offered a choice of sites by Yum!.
Franchise contracts will be for 10 years.
According to the report, Yum! expects franchisees to have “enthusiasm for the brand and the dining industry, good entrepreneurial qualities, successful enterprise management experience” together with more than CNY3 million in realisable cash. They will be required to work on the business, not manage stores remotely.
Source insideretail.asia