Rappers and chains — they just go together. No one has proven that more than Rick Ross who recently franchised yet another chain restaurant. Thinking something else?
Ross made his mark on the food industry years ago, long before his "shout out to the pears," with his investment in dozens of Wingstop restaurants. Now, he’s franchising yet another restaurant chain: Checkers.
Many may wonder why Ross, a notable business mogul, has chosen the route of franchising restaurants rather than creating his own restaurant brand. One would assume that he has more than enough capital to venture out into the restaurant scene on his own, in the way that other rappers like P. Diddy, T.I., and most recently, Ludacris, have done. But the benefits of franchising can majorly outweigh DIY’ing it with an independent restaurant concept.
In an industry where more than fifty percent of restaurants fail in the first year, investing in a proven concept is one of the most appealing aspects of becoming a restaurant franchisee. In franchising, you’re gaining entry into the restaurant world with arguably lower risk since the concept already has a set business model, including recipe and menu development, as well as an established brand.
In the case of Checkers, nostalgia, Ross’ emotional connection to the brand, and hometown pride were strong non-financial factors in his decision to franchise. In fact, Ross’ Checkers ad does a phenomenal job of telling the story about his love for the brand and his community.
Back in the day, when you’d think of a restaurant franchisee, you’d picture an old, white guy, but today’s franchisee is changing with studies showing that more millennials are getting in the franchise game as early as their 20s. Other rappers who’ve gone the franchise route include Queen Latifah and Kanye with Fatburger and rumors are swirling about Wiz Khalifa becoming a franchisee of the beloved Nando’s soon.