5 Hot Food Franchises for This Summer
People are always asking us what food franchises they should open. And with summer right around the corner, right now might be the best time for you to open your very own food franchise. Every franchisee is different, so these recommendations might not be the perfect fit for you, but without further ado here is my list of the five hottest food franchises for the summer of 2015.
- Dickey’s Barbecue Pit - Who doesn’t love some amazing barbecue on a hot summer day? And who doesn’t love running a franchise that has 5 major revenue streams? Put those two together and you have a franchise that is poised for summer success. Dickey’s franchisees can make money on dine-in, retail, take-out, catering, and holiday meals.
- Menchie’s Frozen Yogurt - The Froyo craze is still here and going strong and Menchie’s offers franchisees a great opportunity to get into the game. With over 100 rotating flavors and more than 70 rotating toppings new Menchie’s franchises can give their customers exactly what they want this summer.
- 1000 Degrees Pizzeria - Pizza isn’t just a summer food. It’s an all the time food. But 1000 Degrees had to be on the list for hot summer franchises because it’s a great opportunity to join the growing pizza franchise movement.
- Naturals 2 Go - A little bit different than the rest of the franchises on this list, but an awesome option for new franchisees, especially those looking to start a business for a little less capital. The food vending industry is booming and changing quickly. Gone are the days of fatty foods and candy being the only options in vending machines. You can open a Naturals 2 Go franchise with only $25,000 in liquid capital and join the healthy vending movement.
- Kona Ice - Forget ice cream trucks this summer. This franchise's mobile shaved ice trucks are an awesome way to deliver self-serve treats to your customer. And summer is the perfect time for you to join in. With relatively low capital requirements and quick start up times Kona is a great fit for potential franchisees
These aren't all the food franchises that are going to be awesome this summer. Check out the full list of food franchises here!
Not so sure that a food franchise is the right thing for you? Picking the right franchise for you can be tough. But don’t worry - we’ve developed this quiz to help you find the right fit for you.
Before Buying a Franchise Identify Your TRUE Investment
Your approach as a potential franchise buyer is to identify the real investment dollars you’ll need to get the franchise to profitability. The initial source of this information is Item 7 in the FDD. Item 7 is a schedule that details the estimated investment in the franchise. This schedule includes the cost of various items, including: the initial franchise fee, training related expenses, rent, insurance, professional fees for legal and accounting services, supplies, equipment, licenses and permits and additional working capital. Depending upon the specific franchise, there may be added categories. When reviewing the Item 7 schedule it’s important to know that franchisors are not required to list every type of fee or expense that might be part of the investment in the franchise but rather the likely investment needed to start the franchise. As you work to establish your investment number keep in mind the words “estimated” and “typical.” Item 7 is a guide, and as such, you should use this information accordingly.
5 Hot Franchises for 2014
Looking ahead to 2014, quick service food and cleaning services are perennially popular and lucrative franchise opportunities. Here are five white-hot franchises that may surprise you.
5 Traps for the Unwary Prospective Franchisee
When evaluating a potential franchise opportunity, prospective franchisees need to take care to put the hype and their emotions in check, and carefully consider all factors relevant to their buying decision. After all, the franchise will be a 5- to 10-year relationship (at minimum, under most franchise agreements), so it is well worth the investment to put in some research and analysis before taking the leap.