Opening a Franchise


by James S

Opening a Franchise

The idea of buying into a franchise is one that can appeal to savvy entrepreneurs. Franchising allows a business owner to appropriate the name of a major corporation in order to open their own branch. Opening a franchise isn't a simple process, however. In order to open a successful and legal franchise, entrepreneurs must find the perfect company to buy a franchise license. After selecting the right franchise to buy into, interested parties must also put together a variety of fees and documents in order to get approved. There are countless restaurant franchising opportunities to choose from which can make the process even more difficult. Potential franchise owners should keep on reading in order to learn about some of the most exciting franchise opportunities available.

Panera Bread is a national bakery & cafe chain that has risen in popularity over the past decade. As a premium provider of baked goods and cafe meals, Panera Bread has a fairly high threshold when it comes to allowing people to buy into their business. If someone wants to buy a franchise from Panera Bread, they must meet and exceed a variety of qualifications. Applicants must have experience operating a restaurant, have a net worth north of $7.5 million, and liquid assets valued at more than $3 million. If an applicant meets or exceeds those standards, they can purchase a license for $35,000.

Chick-fil-A has long been one of the most popular fast food restaurants in the United States. Known for its premium quality chicken, Chick-fil-A has set the standard that fast food can be good food. Owning a Chick-fil-A takes quite a bit of doing, however, as it isn't easy to get a franchise license. In order to qualify for a Chick-fil-A franchise license, applicants must meet a list of requirements. Applicants must first showcase a $10,000 financial fee in order to start the process. Chick-fil-A then requires applicants to have a 'proven track record' when it comes to business leadership while also having a completely free schedule to solely focus on their business. Chick-fil-A does not sell licenses to multi-restaurant business owners.

For people who want a smaller and more focused franchise, Jimmy John's has plenty of opportunities to go around. Jimmy John's is one of the most successful sandwich franchises in America thanks to their 'freaky fast' and delicious food. Owning a Jimmy John's is relatively easy compared to the other franchise options that are out there and available. In order to own a Jimmy John's franchise, applicants must be ready to invest around $330,500 total. The application and license fee will be roughly $80,000 and Jimmy John's demands that applicants have a net worth of nearly $300,000. The average gross sales per year of a Jimmy John's franchise is roughly $1.3 million. There is plenty of money to make if the investment feels right.

For potential franchise owners that want to shoot for the stars, Chipotle might offer an intriguing opportunity. Chipotle is the fast-food Mexican grill that has been popping up all over the country since the company was first founded in 1993. Chipotle is notoriously selective about offering licenses to potential franchise owners. In fact, of the 1,200 locations in the United States, nearly all of them are still owned by Chipotle. Getting a franchise from Chipotle is difficult bordering on impossible. Still, Chipotle allows business professionals to contact their company with inquiries. Is there any guarantee that an applicant will get a license? No, but the opportunity is still there.