If you have wanted to own a restaurant, you might well have stumbled across franchising throughout your exploration. While the risk of operating a restaurant may not be as significant as it may sound, acquiring a franchise can help to alleviate some of that risk. By embracing the existing franchise framework, you may benefit from the company’s brand recognition, coaching, process assistance, and vendor network. In turn, you will be primarily responsible for your site’s daily administration and functioning. Although there may be scores of restaurant franchises for sale here, this article will showcase only five of the most economical yet promising options for you.
- Benefits Of Starting A Food Franchise
- Such a business model is a terrific method to start a venture with reasonable investment and is available in various styles, capacities, and budgets.
- Many entrepreneurs who set up a business without prior experience are likely to fail. However, it may not matter with a franchise if you have prior expertise or not. A brand should empower you with all of the necessary training and information.
- Reputable franchises have established brand awareness and various techniques to attract clients. Some of the most affordable food businesses may already have a large following on numerous social media channels.
- Top 5 Affordable Restaurant Franchises
You might want to start with one of these low-cost food franchises, as they may be the finest deals on the market right now:
- Chester’s Chicken
Chester’s International popularly referred to as Chester’s Chicken, is a fast-food fried chicken restaurant headquartered in Birmingham, Alabama. This is among the least expensive restaurant franchises on this list due to low initial investment. Chester’s Chicken has been in the business since 1952, although it only recently began franchising. Then, it seems to reason that the firm has witnessed remarkable expansion during the last decade. The company’s modest initial investment and perhaps even cheaper franchise royalty of $3,500 have been largely instrumental for such rapid growth.
Total Initial Investment: $12,000 – $296,600
Business headquarters: Birmingham, Ala.
Franchising since: 2004
- Baskin-Robbins
Inspire Brands owned Baskin-Robbins is American international ice cream and cake specialty business. Burt Baskin and Irv Robbins launched it in Glendale, California, in 1945. Since 2008, the international expansion of Baskin-Robbins franchisees has been tremendous. Over the last few years, Baskin-Robbins has built on over 2000 overseas franchisees, indicating a 65 percent increase in growth. As a royalty fee, this ice cream franchise contracts for approximately $93,550.
Total Initial Investment: $724,523 – $2,009,400
Business headquarters: Canton, Mass.
Franchising since: 1948
- The Great Greek Mediterranean Grill
The Great Greek Mediterranean Grill, an award-winning and quickly expanding Mediterranean fast-casual brand, was co-founded in 2011 by Nick A. Della Penna and Trent Jones. Both of them are third-generation gourmet trained restaurant owners. Through their award-winning chef-inspired menu offering native dishes and savory tastes, the brand provides the fresh, tempting aromas of the Mediterranean. Their fiercely committed consumer base swears by the top-quality ingredients, including freshly prepared sauces, dressings, and marinades. The Great Greek now has 141 franchise sites operating or under construction both domestically and abroad, with South Florida serving as a significant market for the name.
Total Initial Investment: $476,050 – $798,250
Business headquarters: West Palm Beach, Fla.
Franchising since: 2018
- Checkers & Rally’s
Checkers Drive-In Restaurants, Inc. is a US-based network of double drive-thru restaurants. For the recent decade, the count of Checkers and Rally’s outlets has fluctuated. The business now runs Checkers and Rally’s restaurants in 28 states and the District of Columbia. They are known for their hot dogs, milkshakes, hamburgers, and french fries. Checkers & Rally’s has still been expanding into other markets within the country, with an initial franchise fee of $25,000.
Total Initial Investment: $94,350 – $402,200
Business headquarters: Tampa, Fla.
Franchising since: 1989
- Firehouse Subs
Firehouse Subs of America is the franchisor. The franchise contract is meant to set up and run eateries under the Firehouse Subs brand name that sells large-portion sandwiches in hot submarine-style at a reasonable price. Chris and Robin Sorenson, brothers who had previously worked as firefighters, started Firehouse Subs. They now have over 1,000 sites in 46 states, Canada, and Puerto Rico. Most of these franchised outlets were typical restaurants, unlike side strip mall stalls or free-standing diners with a drive-thru.
Total Initial Investment: $189,574 – $917,299
Business headquarters: Jacksonville, Fla.
Franchising since: 1995
Most essential, you must like and trust your prospective franchisor. Request all accessible informational documents, assess their support networks, and ask as many questions as you want to. Examine their licensing agreement thoroughly, with the assistance of a competent attorney. Remember that franchising can have both upsides and downsides, but if you do your homework and balance the benefits and drawbacks, you may locate the ideal food franchise business for yourself.
