Cheapest Food Franchises To Buy
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To better understand the capital required to acquire and launch a fast-food franchise, The Hustle spoke with more than a dozen franchise owners and analyzed data from franchise disclosure documents filed by 22 of the largest domestic chains.
If you want to know how good business is for the Subway chain, consider this: Existing owners account for more than 70 percent of new Subway franchises -- and there are currently more than 45,000 global locations.
Thanks to this model, East Coast Wings + Grill boasts a very high franchisee satisfaction rate. According to the franchisee feedback that FBR collected from 11 active East Coast Wings + Grill franchises:
On the FBR list of the most profitable food franchises to look for in 2022, the brand that stands out the most is East Coast Wings + Grill. The company not only has a broad appeal with customizable offerings, but also has relatively low barriers to entry and offers comprehensive support to its franchisees to maximize profit.
Don't let the entry cost of a top-tier food franchise hinder your dreams of franchise ownership. Fhere are many food franchises available that are just as lucrative and offer the same resources, support and training materials as the major brands.
Starting your own travel agency can be a good idea for organized, self-motivated individuals who love travel and like the idea of helping people score great deals on their own dream getaways. Travel agency franchises are often home-based, meaning there is very low overhead and minimal startup costs.
BuildingStars is one of the largest, fastest-growing franchises in the commercial cleaning industry, with a sole focus on solutions for office buildings. Services include nightly cleaning, green cleaning and consulting, and carpet and floor care. According to BuildingStars, this franchise offers the highest average gross revenue of any cleaning franchise. BuildingStars also has the benefit of allowing you to start small, working part-time to start your cleaning business while you keep the income and security of your current job. The franchise offers three levels of franchise ownership: part-time technician, full-time onsite manager, and corporate manager. Depending on your goals, you can start as a part-time technician, then work your way up to onsite manager and corporate manager as you build experience managing larger-tenant office buildings.
Fitness and sports coach franchises are another low-cost franchise idea if you are an aspiring fitness instructor who wants to benefit from the recognition of a name-brand sports/fitness franchise. In some cases, you can also use the facilities and gym equipment of a master franchise, while working as an independent instructor.
Fast food franchises are typically big earners and as such, they often carry large initial investment. However, it is sometimes possible to start a fast-food franchise for under $100K, particularly if it has a non-traditional setup.
When was the last time you made a fast food stop or purchased a cup of coffee before work? If the brand is recognizable and has multiple locations throughout your city or town, like McDonald's or Dunkin', it's quite possible your favorite food joint is a franchise.
In fact, the US Census reports that 11.4% of all businesses in the US are franchises. While restaurants make up the bulk of franchise opportunities, gas and convenience stores, car dealerships, fitness, real estate, and hospitality sectors also make up a sizable chunk.
If you want golden arches of your own, you'll need to put in a hefty initial investment. But with that investment, you get brand recognition, popularity, and years of experience in the fast-food industry.
Popeyes is consistently one of the top franchises to own in Entrepreneur's Franchise 500 Rankings. It's a well-known fast-food brand with a global presence, strong advertising strategies, and well-developed core philosophies.
In addition to dictating how your business runs, franchises also lack autonomy when it comes to finances. Your franchisor will most likely control all aspects of the franchise's financial dealings. Be prepared to routinely submit financial statements such as your balance sheet and income statements.
First up, make sure that you have a good enough credit score to qualify for loans. Having a savings account is also essential. Keep in mind that some franchisers could require you to pay for the up-front fee without a loan. For that reason, you should consider franchises that accommodate your unique financial situation.
With an established customer base, wise use of marketing help, ongoing training opportunities, and consultations with the franchise operations team, you can turn the volume necessary to make cheap food franchises not only survive, but thrive. Discounts on stock and supplies, a low franchise royalty fee (only 6%), and choosing a wise location could all boost your ROI.
One of the most well known Canadian brands in the world, Tim Hortons is also the biggest Canadian franchise in the country. Founded in 1964 by the Canadian hockey player Tim Horton, the franchise boasts over 4800 locations across 14 countries. For this reason, the coffee shop giant has become one of the most profitable franchises in Canada.
As far as food franchises go, Canada Bread runs the largest commercial bakery operations in the country. Founded in 1911, the Canada Bread franchise has over 900 locations to its name. In 2014 it was acquired by the commercial bakery giant Grupo Bimbo, which operates in 32 countries worldwide.
Pizza Pizza has been making delicious pizzas in Canada since its establishment in 1967. Now, this popular pizza company possesses over 750 locations across the country. As one of the best food franchises in Canada, Pizza Pizza has some great business opportunities for those interested in the pizza industry.
For this reason, Marlin Travel is one of the top travel franchises in the country. An initial investment of $100,000 to $150,000 is necessary to become a franchisee, with a franchise fee of $3,000 and royalties of 3% of gross sales.
As one of the best franchises in Canada operating within the automotive industry, owning a Mr. Lube franchise can be a lucrative endeavour. Established in 1976, this Canadian business now has over 480 locations across the country.
Boston Pizza offers one of the most profitable franchises in Canada, illustrated by the fact that their franchise locations make, on average, gross sales of over $2.8 million. This franchisor has even extended 0% royalties on alcohol sales to its new business partners.
The Gas+ franchise offers buy-in opportunities that are lower than other franchises, with an initial investment requirement of between $30,000 to $70,000. But first, franchisees must establish a separately incorporated company in their name as part of the legal agreement with Canadian Tire.
Pet Valu is one of the most profitable franchises in Canada when it comes to the pet industry. Founded in 1976, this Canadian franchise operates in over 360 locations and aims to have a presence in every province.
Another leading Canadian franchise in the auto-industry, Belron Canada was first founded in 1965 and began franchising under its brand name in 1982. Currently, there are approximately 350 franchises in Canada and throughout 30 other countries that operate under this name, and the Belron International trademark.
The franchise fee sits at $35,000, and a required cash investment of approximately 35% to 40% of the total cost of opening operations, which varies depending on the location. The initial period of the franchise agreement is 10 years, with two available 5-year options. Royalty fees are a standard percent of business franchises, sitting at 4.5% of gross sales.
Thai Express is the leading Thai quick-service restaurant in the world and one of the top franchise opportunities in the country. The food company works with MTY Group to help with their franchising needs. Founded in 2000, with almost 300 locations, this is one of the fastest growing franchises in Canada.
To franchise a Pita Pit location in Canada, you will need approximately $100,000 to $125,000 in unencumbered cash. Unlike other franchises, Pita Pit does not offer any in-house financing help. Those interested in opening a location can apply online, and if your application is well received, you will have a phone interview and a possible in-person meeting later on. It typically takes at least a month for this company to determine if a franchisee is a good fit.
Liberty Tax Service offers low-cost franchise opportunities starting at $42,000, making it one of the best buy-in prices for a Canadian company on this list. They also offer shorter terms in their franchise agreement, as the contract will last for five years and can be renewed again for another five. However, royalty fees are much higher than other franchises, claiming a whopping 14% of gross sales.
Owning over 700 franchise locations in 8 countries around the world, Coffee News is a leading advertising and marketing publication in Canada. Since 2002 Coffee News has been recognized by Entrepreneur Magazine as the No. 1 weekly publication in advertising services, making it a great franchising opportunity. On top of this accolade, the company has also been voted one of the top low-cost franchises since 2017.
If you are basing your decision on which franchise to open mainly on costs, it is important to have an idea of which ones have the cheapest point of entry. Keep in mind that, even after you open your business, you may have to pay an advertising fee, royalty fee or other recurring costs. Here are some of the cheapest franchises to start:
Like Stratus Building Solutions, Anago Cleaning Systems offers cleaning services. However, Anago focuses more on regularly scheduled office cleanings, whereas Stratus tends to perform one-off commercial cleaning jobs. Both franchises allow affordable entry into the cleaning industry.
Deciding on a Mexican franchise depends on a few things. Like deciding on which Mexican food is the most popular. Some, like tacos, already have brand recognition in the Mexican restaurant industry. Enchiladas and burritos are also popular Mexican cuisine. 781b155fdc