08 Sep, 2017

Top Ten Fast Food Franchises

Top ten fast food franchises Do you dream of owning your own business or would you be happy just operating successful franchises? By trading in a little of your independence, you can buy the rights to a successful business strategy, name brand and support system. Each year Entrepreneur Magazine looks at the Franchise 500 list of the most successful franchise businesses in the country. Before buying, it's a good idea to get your franchise information here. It is the seventeenth year that 7-Eleven has been in the top 10 fast food franchises of the Franchise 500 lists, but it is the first year it claimed the top spot. Times weren't always easy for the franchises parent company. In 1991, they declared bankruptcy and were bought up by Seven & i Holdings in Japan. Yet their recent growth is attributed to the number of dedicated franchise owners added in recent years. "Our big reason for that is our franchisees have a vested interest in being successful," says Joseph DePinto, president and CEO of 7-Eleven. "They know their customers, and it's about delivering great customer satisfaction and the products our customers want. Our franchisees do that extremely well." Seven out of ten franchises are fast food franchises. Subway comes in at #2 after fifteen years at #1. This year, the healthy sub shop has grown to 28,000 franchised stores worldwide. The 5,451 US Dunkin Donut franchises have been in the top 10 since 2004, with its fair trade espressos, cappuccinos and breakfast items. Pizza Hut comes in at #4, with 9,881 restaurant franchises and startup costs from $1.1 to $1.7 million. McDonald's has made the top spot eight times and the top 10 fast food franchises twenty-seven times. To open a McDonald's franchise, it will require $506,000 to $1.6 million in startup costs. Sonic Drive In Restaurants, KFC, InterContinental Hotels Group, Domino's Pizza and ReMax Realty are also in the top 10. The top 10 fast food franchises predominantly share a similar industry; fast food franchises. Yet there are many other franchises available from retail and restaurants to real estate and technology. Having startup capital to cover fees, location leasing and supplies is necessary but it's also easier to get a small business loan for a franchise than for a small independent business. Many franchise owners say the support system, the well-known name brand and the no-brainer approach to management is what makes a franchise agreement so appealing