Top 10 Franchise Opportunities
Being your own boss is a dream many people have and one of the best ways to make that dream come true is by owning your own business. In today’s unpredictable financial climate a franchise makes for a first-time business owner. Although it can cost a large sum of money to start a franchise, you are guaranteed name recognition and marketing support from the parent company.
Entrepreneur Magazine publishes a list of the Top-10 Franchises every year. Below are this year’s picks and some pertinent information for anyone looking to take advantage of a franchise opportunity.
#1 7-Eleven
This convenience store giant’s name is synonymous with the 24-hour quick mart. Based in Dallas, TX, it’s the largest convenience chain in the world. “7-Eleven, Inc. has been a convenience retailer for eight decades, and a leader in the franchise industry for more than 40 years. Today, 7-Eleven is the world’s largest convenience retailer, and offers a very different franchise opportunity… an opportunity to operate a truly neighborhood business with all the advantages of a global retail giant.”
Cost of starting up a 7-Eleven includes “a one-time cash payment in an amount equal to the cost of the store’s initial inventory, supplies, business licenses, permits, bonds and cash register fund. As with the Franchise Fee, the amount of this cash payment may vary significantly depending on the area.” To learn more about this amazing opportunity, visit their website.
#2 Subway
Jared lost a lot of weight here and they bill themselves as the “healthy” alternative to fast-food. They say “Many of our customers have become franchise owners simply because theybelieve in the product.” There are 30,148 Subway restaurants In 87 Countries with most of their franchisees owning more than one store.
Start up for opening a Subway is between $80K-310K and there is a franchising fee of $15,000. To get more information on owning your own Subway franchise, visit their site.
#3 Dunkin’ Donuts
Dunkin’ Donuts coffee keeps America running and you’ll be running you’re own business in no time with this franchise opportunity. “Worldwide, there are more than 8,300 Dunkin’ Donuts® in 30 countries. In the United States alone, there are more than 6,000 Dunkin’ Donuts restaurants located in 36 states.” There are “A variety of exciting Dunkin’ Donuts franchise investment opportunities are available for both individuals and corporate investors interested in purchasing store development agreements for five or more units. From a five store development agreement, to unique opportunities to own and operate an entire market, you’re certain to find the right Dunkin’ Donuts franchising venture for you.”
Initial investment for a Dunkin’ Donuts franchise requires a minimum of $750,000 liquid capital and $1.5 in net worth. Visit their website for more information on this lucrative opportunity.
#4 Pizza Hut
Pizza Hut delivers on their promise of making you a success at owning your own franchise. Pizza Hut is part of a larger corporate entity that also owns KFC, A&W, Long John Silvers, Taco Bell and Wing Street. “Pizza Hut® leads the world in pizza business with over 12,000 global locations. Pizza Hut is America’s Favorite Pizza, serving Pan Pizza, Thin and Crispy®, Veggie Lovers®, Meat Lovers® and more.” This could be your opportunity to make it big in the restaurant business.
Pizza Hut requires a very large initial investment of $1-3 million, much of which depends on the real-estate and building costs in your area. To find out more about their requirements and start an application you can visit them at Yum Franchise.
#5 McDonald’s
The largest name in fast food didn’t get that way by thinking small and their continued efforts to open new franchises is a sure sign that they plan on continuing to grow. “McDonald’s has always been a franchising company and has relied on its franchisees, our Owner/Operators, to play a major role in the System’s success. McDonald’s remains committed to franchising as a predominant way of doing business.”
Initial investment is steep as they require a minimum of $300,000 of non-borrowed personal resources to consider you for a franchise. Individuals with additional funds may be better prepared for additional or multi-restaurant opportunities. Still interested? Then check out their franchise opportunities in the US and Internationally.
#6 Sonic Drive In Restaurants
Although not as well-known as McDonalds or Burger King, Sonic has been making inroads in the fast-food market with aggressive ad campaigns and name recognition. “What makes SONIC different from other franchise opportunities? A big part of the SONIC difference is the belief that “owners make better operators. In fact, SONIC franchisees enjoy one of the most successful businesses and one of the lowest turnover ratios in the quick-service restaurant (QSR) franchise industry, with unparalleled opportunities for personal success.”
With an initial investment that’s substantially lower than most hamburger fast-food chains, you can expect to start with between $820K-2.3M to get “The Sonic Difference”. Check out the opportunities in your area by visting their web site.
#7 KFC Corporation
Like Pizza Hut, KFCC is part of a larger group of restaurants including A&W, Long John Silvers, Pizza Hut, Taco Bell and Wing Street. Started 50 years ago by Colonel Sanders, their recipe is still secret but their success is not. “KFC, based in Louisville, Kentucky, is the world’s most popular chicken restaurant chain, specializing in Original Recipe®, Extra Crispy™, Twister® and Colonel’s Crispy Strips® chicken with homestyle sides. Every day, nearly eight million customers are served around the world.”
KFC requires a very large initial investment of $1-3 million, much of which depends on the real-estate and building costs in your area. “The costs shown are for a building a free standing KFC/Taco Bell restaurant” To find out more about their requirements and start an application you can visit them at Yum Franchise.
#8 InterContinental Hotels Group
The first on the list that isn’t food related, InterContinental Hotels has over 3,500 hotels operating under the IHG brand or hotels. “Franchisees want to be in business for themselves but not by themselves. Ownership of a franchise can bring considerable benefits – franchisees can brand their hotel with one of our well-known and popular brands, while the franchise contract provides a powerful set of tools to drive new business.”
They don’t have any information on the cost of franchising, but chances are it depends on how big your hotel and the location of the building plus applicable building costs, etc.
#9 Domino’s Pizza LLC
How popular is pizza to the American diet? So popular that there are two pizza franchises available with Domino’s coming in at number nine. “Founded in 1960, Domino’s Pizza is the recognized world leader in pizza delivery. Through our primarily franchised system, Domino’s operates a network of more than 8,300 franchise and company-owned stores in the United States and more than 55 countries. The Domino’s Pizza brand, named a Megabrand by Advertising Age magazine, had approximately $5.1 billion in global retail sales in 2006, comprised of $3.2 billion domestically and nearly $1.9 billion internationally.”
At this point you’d think that the initial investment in Domino’s would be high, but in actuality, it’s somewhere between $118.5K-460.3K. They also charge a franchise fee of $25,000 with an ongoing royalty fee of 5.5% yearly. You can find out more about their francise opportunities at their website.
#10 RE/MAX Int’l. Inc
Last but not least is that giant of the real estate, ReMax. If real-estate is your passion, you’ll want to “Soar Above The Competition” with this first-rate company. The brand name gives you the competitive advantage and market presence you need to make it in the highly competitive real estate market.
With an initial investment of between $35K-200K, a ReMax franchise just might be an affordable alternative to starting your own business. Check out their franchising site for more information on this lucrative business opportunity.
As always when planning a new business venture, make sure to get all of your financial information together and talk the opportunity over thoroughly with your accountant or attorney. Remember that although the information about initial costs is available on the website, you might have other expenses such as village and state requirements, health inspections and legal fees. And never go into business situation without the full support of your family and loved-ones. Although purchasing a franchise allows you to partake of the corporate marketing and advertising available to you, you’ll still put in long hours and a considerable amount of your heart and soul into making it work.
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