How Much Do Franchises Cost?
Sorry for the weekend hair I lost my comb at the Extreme Ironing Competitions on Saturday.
How much do some of the big-name franchises cost to open - and can you afford one? Actual costs of starting a franchise today on Franchise City.
The numbers shared today are the actual figures of how much it costs to open a franchise, ranging from the lowest to the highest. At only a $10k investment, Chick-fil-A has skewed many people's perception of how much franchises cost, but Chick-fil-A is very different from other brands. We did a video on them a while back; • A Chick-Fil-A Franchise Costs only $1...
Let's start with the big names. If you want to own a McDonald's, the total investment is between $1,470,500 and $2,642,000. These numbers we are showing today do not include buying real estate. So why am I paying millions of dollars if I don't own the real estate? I'll place the breakdown of start-up costs on the screen. In most cases, you are actually renting your location from McDonald's corporate. For that reason many people have suggested McDonalds is more of a real estate company than a burger company
Starting a Subway franchise is a much lower investment and will cost between $238,623 and $536,745, according to the cost breakdown on the screen. Subway was recently acquired by a private equity firm for 9.6 billion dollars. Note that Subway has closed over 2,000 locations over the past three years.
Wingstop has famous owner Rick Ross in their ranks, who owns about 30 locations. We did a video on what famous celebrities own franchises • Celebrity Owned Franchises - and How ... A single Wingstop location will cost between $259,400 to $912,100 to open. Wingstop has been opening just under 200 locations a year for the past 3 years, but notice that compared to McDonald's and Subway, they have fewer overall locations. Often, with highly established brands, we see a market saturation point when most prime territories are gone and franchises compete with many other local restaurants. Buying the biggest franchise isn't always the best option.
Enough food let's look at Planet Fitness, the brand that came under fire recently for their change room policy. We did a video on that situation recently: • Is This the End of Planet Fitness?
Buying your gym equipment the franchise investment will cost between $2,331,000 to $5,141,000. That number is lower if you lease your equipment at $1,495,000 to $3,783,000. Planet Fitness has also been opening locations, but it will be interesting to see how the controversial publicity has affected its franchise sales. For people who want a fitness franchise but lack the millions, there are lower-priced alternatives like mobile fitness or small studio at around $100k.
The cost to open a Dunkin' franchise ranges between $210,900 and $1,832,500. However, keep in mind that the lower numbers in these cases represent unique cases, usually a conversion from an existing donut shop, and your investment is likely to be much higher.
Dominos costs between $156,450 to $743,500 for a traditional store
The 7-eleven franchise has a different ownership model, so you only pay the franchise fee, and corporate handles most of the other start-up costs. The franchise fee is between $50,000and $750,000, but you will share around 50% or more of your gross profits with the company. We covered the 7-Eleven franchise • Dark Secrets Owning a 7-Eleven Franchise
The UPS store in the new laser Lite design is $209,195 to $495,945
Orangetheory fitness $613,129 to $1,644,519
RE/MAX Realty, yes, they are a franchise, and the investment ranges between $44,000 and $241,500 to open an office.
Most franchises also have a net worth requirement in addition to the investment that can be millions of dollars for legacy brands. If you have a lower budget, many non-retail franchises exist for $100k or less and can actually in some cases, be equally or even more profitable than the big names.
If you want to know how much a specific franchise costs or makes leave it in the comments, or for help finding the best franchise,s give the experts at Franchise City https://www.franchise.city/our-services
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