Comfort Food the big opportunity in a “Recession”

Midway through 2009 and and still trying to cope with the financial crisis , Australians looking at new business opportunities are eagerly seeking the ‘recession-proof’ investment.

According to Andrew Benefield, Managing Director of Mrs Fields Cookies , smaller ‘comfort food’ luxury items are a good bet in the current climate.

“Australians have been dunking a biscuit in their tea for over 200 years, through the lean times and the good. We have grown up to coffee and a soft baked cookie so it still makes good business,” he said.

"We have four new franchise’s opening in the next four months, and half of our existing franchisees experienced double digit retail sales growth in the calendar year to 31st March. Many Australian’s are delaying bigger purchases until there is more economic certainty, making it easier to reward themselves with a coffee or a cookie.”

His view it that there has never been a better time for potential franchisees to secure their future with quality franchise opportunity specialising in smaller luxury items such as a Mrs. Fields coffee franchise.

“There are a number of important factors in selecting the right franchise opportunity but when it comes to retail there are three main considerations.

“Location is always important and never more so than in tough economic times. A well established shopping centre with quality operators will remain popular and strong whilst the newer smaller centres will come under pressure.

“Investment is another. Bricks and Mortar franchises certainly cost more than service franchises, but they are often more tangible. Whilst finance is difficult to source at present it is cheap when available. New and existing franchisees should fix their loans for the term of their leases, it locks in their financial model.”

“Finally invest in products people want. There are many fad treats out there that are popular for short periods of time, however in our case biscuits and their American equivalent cookies have been part of our Australian culture since the early settlers brought them here.”

Mrs. Fields Cookies have been in Australia for over 20 years and the profile of the cafe franchise continues to grow in prominence around the country. An internationally recognised brand present in a number of airports around the world, including Singapore, Hong Kong and across the United States, a new Mrs. Fields outlet will open in the Sydney International Terminal in August as part of its multimillion dollar redevelopment.