What Are Franchise Costs?
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A lot of future entrepreneurs out there would rather go with a franchise than starting up their own business. While I don’t blame you, I can see both the pros and cons on both levels. Franchises already have the brand authority, while starting for scratch is going to take some time to build up your brand.
Now, if you’re looking to start up a franchise, you’re probably wondering how much a franchise is going to cost you. This is all going to depend on a few factors since every franchise is 100% different. For example, a Subway is going to cost significantly less than a Hampton Inn hotel chain.
With that being said, I can give you some pointers to get you on the right path to find out what a franchise truly does cost.
I did some research online and found out some of the top 8 franchises are the market today and what they are going to cost you. These numbers are going to change over time and are only accurate as of 2010.
#1 Subway, America’s number #1 sandwich shop has surpassed McDonald’s for the most locations in the USA. The average start up for a Subway is going to run you anywhere from $85,000 to $260,000.
#2 McDonald’s, America’s favorite fast food joint is located on just about every street corner in every city. You’re going to need anywhere from 1 to 2 million to start one up.
#3 7-Eleven, a convenience store that everyone is familiar with. Whether you want a slurpee or coffee, you’re going to need to dish out about $50,000 to $750,000 to start up your own 7-11.
#4 Hampton Inn, one of the most comfortable hotel chains out there can run you a cool 3.5 to 14 million to start operating one today.
#5 Dunkin’ Donuts, a donuts / breakfast based food franchise is quickly making it’s mark as one of the best franchises in the United States. You can start running one for $500,000 to 1.8 million.
#6 Supercuts, a haircut / stylist joint that helps those get any hair care done runs anywhere from $110,000 to $250,000 to open up a location near you.
#7 Kumon Center, a tutoring / learning center is great for those that are looking to learn a little more outside of school. This center is going to run you anywhere from $33,000 to $132,000 to start up.
#8 Pizza Hut, a pizza / pasta based restaurant can run you a cool 315,000 to 3 million dollars to start up depending on the location, as well as some other factors.
You’re soon going to notice that all franchises are going to vary in costs. What you’re going to want to do is make sure that you look at the franchise that you’re interested in. Every franchise will have more information that you can look into on their website. While many of them don’t go into specific details, you can always talk to them about it.
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