In line with the principle of economy, of course, it is better to do it yourself.
First of all, you have an idea about the location of the store, and then the decoration is left. The customers are young owners, so don't be too strict with the decoration.
Then, there should be two suppliers from different sources in case of emergency.
As for the staff, so many students are enough for you. But the kitchen and cashier will be special.
Purchasing if you are not too tired, responsible for staff training, daily audit and maintenance of the store, etc. This is another cost saving.
The lower the buffet price, the better. There are more fancy styles, the quantity and quality can be weaker, the taste is worse, the food becomes faster, and preferential activities are often held, which is generally not a big problem.
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To answer your question:
Every city has a successful case of franchise stores.
You might as well find out if there are any better franchisees in your city. On the one hand, their reputation has spread, which will help you as a franchisee. Secondly, it will also make you feel more secure.
But! The canteen near the university town can actually run by itself. The joining fee is quite high, and you just started a business, so there is no need to take too much risk.
Do it yourself, the risk and investment are relatively less, but you need to invest more energy.