Have You Thought About Owning a Fast Food Franchise Restaurant?
Restaurant franchises come in all shapes and sizes. Some are trendy, while others have been around for decades. Some require a lot of capital to start up, while others have low entry costs. With the demand for fast food on the rise, buying a fast-food franchise is a great way to make money while satisfying customers’ cravings.
In this article, we will discuss all of the benefits that come with owning an investment in one of these popular franchises. Whether you are just getting started or looking to expand your portfolio, there are plenty of opportunities available right now!
What to look for when Choosing a Fast Food Franchise to Invest In
Most people are familiar with the established and more well-known fast-food franchises like McDonald’s, Burger King, and Subway. But there are many lesser-known companies that may be a better fit for your budget or lifestyle.
Here are some things to consider before choosing which franchise to invest in:
1) The start-up cost of the company you choose.
2) Whether a franchiser is willing to provide financing.
3) The overall risks involved in starting up the business.
4) Your personal goals with this investment and whether they align with what the company offers.
Overall, the best fast-food franchises to invest in are ones that have a proven history of success and provide cost savings for the owner. Some of these include McDonald’s, Wendy’s, Taco Bell, and Kentucky Fried Chicken (KFC). That doesn’t mean you should not be open to other options – instead of greasy fast food, you could go down the route of health-conscious fast food. Keeping up with trends in the industry is important and being able to identify the trends that will survive the stand of time is even more important.
Another thing to consider when looking for a fast-food franchise to invest into is what is its reputation.
Subway has been known as one of the best fast-food franchises, but due to the actions of their main spokesperson, recent news about what is in the tuna, and Ireland classifying their bread as cake because of the sugar content, the brand has been tarnished. Similarly, Chik-Fil-A’s long-standing opposition of the LGBTQIA+ community, and the causes they donate to, have caused protests and boycotts.
While these may not be the first thing you think about when looking for a fast-food franchise, it is important to keep these things in mind because the perception of the business can make or break its brand.
Corporate hours of operation are also important to consider. If you aren’t shying away from Chick-Fil-A based on their latest press, maybe being closed on Sundays is not what you want. Depending on the franchise, these hours can be mandated by corporate – so it is important to consider it while making your decision.
Most importantly – location, location, location! Fast food is all about convenience, and one of the most convenient things customers are looking for is proximity to the location itself. Fast food is typically a “drive-thru” business, so customers want to be able to pull up and go without any hassle. Some fast-food franchises are constrained by location – for example, Mcdonald’s has strict rules about where they can open new stores. So if you’re looking into this particular company, it’s important to know that the options may be limited in your area. But there are also some companies that have fewer restrictions on their locations which makes them more desirable than others because of how easily accessible they will be for potential customers.
Fast Food Franchise List: Some Fast Food Franchises to Consider
If you are ready to take the next step in your fast food franchise investment, here are some franchise opportunities to consider:
• McDonald’s: Mcdonald’s has over 700 locations in Florida. While the total investment of a McDonald’s could be anywhere from 1-2 million dollars, the brand is still going strong.
• Chick-Fil-A: Though Chick-Fil-A has gotten some heat in the media, people still tend to crave their chicken sandwiches (even on Sundays). There are over 200 Chick-Fil-A locations in Florida, and if you can look past the declining reputation and losing a day of business, Chick-Fil-A always has a busy drive-through.
*Please note that Chick-fil-A, unlike most franchise opportunities, does not share in the equity of the franchised location. In other words, you are paying for the opportunity to operate and draw a good salary from the franchised business, but have no ownership stake in the restaurant itself.
• Taco Bell: If you are going after a trendy millennial crowd, Taco Bell is calling your name. With an ever-rotating menu and celebrity endorsements, Florida boasts over 300 Taco Bell locations.
Here are some next steps if you are considering investing in a fast-food franchise
• Know what you’re getting into – this is a great guide that will tell you everything you need to know before fully committing to a franchise investment
• Review your options – this article from QSR will provide the list of the top fast-food chains in America
• Be prepared – owning a fast-food franchise (and really any franchise) will have financial impacts. Contact us to ensure that you get your franchise set up perfectly from the start.
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