5 Affordable Restaurant Franchises You Can Start for 5 Figures. Firehouse Subs . Baskin-Robbins . Chester’s . Checkers and Rally’s . Champs Chicken.
According to the franchise information group, Franchise City, a Chick-fil-A operator today can expect to earn an average of around $200,000 a year.
The franchisee only pays the $10k franchise fee. Chick – fil -A pays for (and retains ownership of) everything — real estate, equipment, inventory — and in return, it takes a MUCH bigger piece of the pie. While a franchise like KFC takes 5% of sales, Chick – fil -A commands 15% of sales + 50% of any profit.
Franchise owners make a good income Some McDonald’s franchise owners are naturally going to make more than others, but most franchise owners still pull in an estimated yearly profit of roughly $150,000 (via Fox Business).
The top 20 franchises of 2020 Dunkin ‘ Taco Bell . McDonald’s . Sonic Drive-In . The UPS Store . Ace Hardware . Planet Fitness . Jersey Mike’s Subs .
The typical Chick – fil -A Manager salary is $15. Manager salaries at Chick – fil -A can range from $10 – $33. This estimate is based upon 146 Chick – fil -A Manager salary report(s) provided by employees or estimated based upon statistical methods.
It currently costs $10,000 dollars to open a Chick – Fil -A franchise in the US, and $15,000 CAD if you were looking to open one in Canada. There are no startup costs , costs for purchasing a building, for constructing a building or for buying equipment – Chick – Fil -A covers it all.
Advantages of buying a franchise Franchisors usually provide the training you need to operate their business model. Franchises have a higher rate of success than start-up businesses. It may cost less to buy a franchise than start your own business of the same type.
Chick – fil-A isn’t an investment. Chick – fil-A is very clear on this front: If you’re thinking of getting a Chick – fil-A restaurant solely because it’s a good investment, or because it could help you transition to something else down the road, then the company isn’t interested in letting you run one of its restaurants.
The average Chick-fil-A executive compensation is $233,015 a year. The median estimated compensation for executives at Chick-fil-A including base salary and bonus is $226,554, or $108 per hour. At Chick-fil-A, the most compensated executive makes $700,000 , annually, and the lowest compensated makes $57,000 .
Becoming a Chick – fil-A franchisee is a multi-step process. Startup costs range from $955,708 to $2.3 million, including a $45,000 franchise fee. Conversely, it only costs $10,00 to open a new Chick – fil -A, with no threshold for net worth or liquid assets.
The bottom line is that while a franchise can make you independently wealthy , it isn’t a guarantee. Choosing the right business in the right industry, and going in with preexisting entrepreneurial experience and/or existing wealth can help, but your income-generating potential may still be somewhat limited.
WikiMedia Commons Owning a McDonald’s franchise can be a lucrative business. It has been estimated that McDonald’s franchisees’ gross profits average about $1.8 million per restaurant in the US . For many franchisees, the older their restaurants, the more expensive their upgrades will be.
On average, however, KFC locations generate approximately $942,000 annually in sales, according to a recent QSR report.