Your Guide: The Best Food Franchise to Own
Are you an aspiring entrepreneur with dreams of owning your own restaurant business? Perhaps you have dreams of leaving that horrible 9-to-5 job and being your own boss. In either case, you’ve probably stumbled upon the ability to open a franchised brand.
Not sure what a food franchise is or the benefits? Maybe you simply want to know, “The Best Food Franchise to Own?’. Well, today you’re in luck because we’re going to cover the ins and outs of all of this.
Keep reading to find out more.
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Why opt for a food franchise?
Opting for a food franchise opportunity versus starting a brand from scratch offers many benefits. For starters, one of the hardest things about starting a new brand is that it takes so much time and money to get people to recognize your brand.
What if you could just jumpstart the process and begin making immediate sales based of name alone? This could help you bring in money quickly.
Additionally, franchises offer a proven business model when it comes to operating. Imagine not having to fumble and learn the hard way when it comes to operating. What if everything was already laid out for you so you didn’t have to learn on your own? Pretty cool, right? This plus having all the support and training you need makes operating a franchise brand attractive.
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What do you need to consider when opening a franchise?
If you are serious about taking on a food franchise opportunity, there are several key things that you want to consider.
First, you want to understand how much the initial investment will be, how you can pay for it, and what sorts of franchise fees are available. This is important to understand so that you can know if this is the right option for you. Remember, there will be some hefty fees to pay since the brand has already done much of the legwork needed to operate successfully.
Second, you do want to consider that many food franchises want their operators to have a certain amount when it comes to net worth. They are placing their brand name on the line and they want to ensure that you can endure the weather while owning your operation. Financial stability is key to them.
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What types of food franchises are there?
In the food franchise world, you have plenty of models to go after. Do you prefer to open a business that meets the demands of a large demographic? If so, you might want to open a full-service restaurant to meet the needs of those consumers.
Maybe you found the perfect high-traffic area filled with busy people. For this, you might want to opt for a quick grab-and-go establishment to meet the needs of these customers. In either case, you want to make sure that you understand the behaviors and needs of your core customer so you can choose a franchise that best meets both of your needs.
What is the highest-grossing food franchise?
According to Titlemax.com, the following are the highest-grossing food franchises:
The Top 5 Fast-Food Restaurants by Sales in America
- McDonald’s: $37 billion in system-wide U.S. sales.
- Starbucks: $13 billion in system-wide U.S. sales.
- Subway: $10.8 billion in system-wide U.S. sales.
- Burger King: $10 billion in system-wide U.S. sales.
- Taco Bell: $9.8 billion in system-wide U.S. sales.
The Best Food Franchise to Own
Papa John’s
- Fee: $5k+
- Investment: $300k+
Taco Bell
- Fee: $25k+
- Investment: $500k+
McDonald’s
- Fee: $45k+
- Investment: $1M
Dunkin
- Fee: $40k+
- Investment: $100k+
Denny’s
- Fee: $30k+
- Investment: $1.3M+
Auntie Annes
- Fee: $30k+
- Investment: $200k+
KFC
- Fee: $45k+
- Investment: $1.4M+
Other popular franchise options
- Ben & Jerry’s
- Edible Arrangements
- Cinnabon
- Dairy Queen
- Cold Stone
- Chick-Fill-A
- Various coffee shops
Conclusion
In conclusion, when it comes to opening your franchise operations, you have plenty of options to choose from. Whether you want a successful coffee shop or a full-fledged restaurant, opting for the franchise opportunity could save you a lot of time and effort when it comes to getting your business off the ground.
The hardest challenge you’ll have to face is the initial investment needed to get things going, compared to perhaps doing it on your own. You just need to weigh the benefits against the cons and see if it makes sense for you.
