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
Franchising with the Stars! Choosing the Size of your System
Every new franchisee wishes to own a large franchise. However it may not be possible for a multitude of reasons. Capital restrictions, lack of skilled labor and management, and even access to suppliers. Therefore before buying a franchise, one must consider all of the franchise options available to them. The following is a list of franchise favorites as well as the possible advantages and disadvantages of owning them.
Interview with First Choice Business Brokers Franchisor Richard Giannini
Richard Giannini: FCBB was in existence as a single location for 12 years prior to franchising in 2006. The infancy of the industry and the massive demand that we saw coming from the Baby Boomers retiring and thecultural changes happening in the world (especially regarding childrenno longer taking over the family business in European nations) were just some of the opportunities we saw. Growing the business exponentially through franchising was a way we could see us achieving the vision of becoming a world-wide brokerage firm.
Why May's Payroll Report Is Only Kind Of Good News
According to the non-farm payroll report released on May 2nd, 2014, it would seem that there is nothing but fantastic news to report about the U.S. economy. At the highest level, the economy added 288,000 jobs in April 2014, crushing the consensus expectations of 218,000. Even more granularly: