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
5 Tips for Finding the Right Franchise
So you’ve decided that a franchise is the right path for you? Now comes the exciting part—choosing among hundreds of franchise opportunities. Here are questions to ask yourself to help narrow the field:
How Curves Fitness Centers Became one of the Fastest Growing Franchises Ever
[Gary Heavin, Curves]: Thanks, Matt. I'm glad to be here with you today and with your listeners.
Getting Out: Important Points for Selling a Franchise
In either case, the franchisee’s right to sell the franchise will be governed by the transfer provisions in their franchise agreement.