Five Most Expensive Franchise Types
There are thousands of franchises in all type of industries, some of which can be started for as little as $25,000 and some of which require millions of dollars. Here are five of the most expensive industries for franchise businesses:
Hotels and motels are generally the largest franchises and are far and away the most expensive. Hotel and motel franchises of all different price and quality levels cost a couple of million dollars to begin. The real estate is expensive to begin with, and then building out the hotel property costs a lot more property size. One of the most expensive franchises in this area may be the Doubletree by Hilton, which can cost upwards of $50 million to get started.
While not all franchises in this category are very expensive, many of the biggest fast food names, such as McDonald's and Burger King charge higher franchise fees than some lesser-known chains for the universal power of their brand names.
This category is dominated by large national names like 7-Eleven that cost about a million dollars. Only some locations have a gas station, but that addition significantly tacks on to the total costs.
The massive commercial space necessary for a storage franchise is the biggest expense incurred
10 Provisions In Your Franchise Agreement That Deserve Your Attention
Here are 10 provisions that every potential franchise owner should try to keep on their own terms.
Why You Should Choose a Franchise with Diverse Revenue Streams
In this article, we’ll explore several examples of franchises in a variety of verticals who execute on this strategy well, including security franchises, pet clinics and day spas.
It’s Good to Be Popular (But Not Too Popular)—Choosing a Trademark for your Franchise System
For new franchisors, standing out from the crowd can be a task of epic proportions. Selecting a strong and memorable trademark is certainly an important (indeed, critical) first step, but for the relatively unknown, picking a trademark that is too abstract can occasionally be viewed as a step in the wrong direction—you want to stand out, but you also want people to actually know what you do or sell.