While there are some extremely affordable franchise options–you can even open a franchise for less than $10k!–other businesses require quite the financial investment. Franchises can cost upwards of $50 million and are often purchased by private equity firms and other larger entities.
Several specific industries contain the most pricy franchise opportunities such as McDonald’s and Doubletree. Hotel franchises occupy the highest price range, with franchises like Doubletree costing between $22 million and $69 million. Typically, the large investment can be credited to the high price of real estate and property development.
Restaurant franchises come in at a close second, often costing several million dollars in investment, as well. Fast food businesses occupy the third most expensive franchise category. While not all fast food franchises cost millions of dollars to open, big names like Burger King and McDonald’s bring up the average cost per unit.
Convenience stores like 7-11, typically attached to gas stations represent another costly franchise industry.
DoubleTree is the fastest growing chain within the Hilton company, a majority of which are operated independently by franchisees. DoubleTree offers affordable accommodation to both business and leisure travelers. The franchise is well known for its warm, fresh baked cookies, offered at check-in.
Investment: $22,022,700 – $69,341,150
Choice Hotels International
With more than 5,000 locations in the US and 40 other countries, Choice Hotels is among the largest hotels franchisors in the industry. With brands like Comfort Inn and Quality Inn under its umbrella, Choice Hotels offers a variety of different businesses that cater to all types of travelers and budgets.
Investment: $1,300,000 – $15,500,000
Widely recognized for its family friendly atmosphere and variety of menu and buffet choices, Golden Corral is among the most popular restaurant franchises. With nearly 500 restaurants across the country, Golden Corral has a loyal customer base.
Investment: $2,168,400 – $6,602,000
Buffalo Wild Wings
Offering a casual, fun dining experience, Buffalo Wild Wings has become a staple for sports viewing and great service. Known for its wings and varieties of flavors, sauces, and dressings, Buffalo Wild Wings has options to suit any customer’s mood. Equipped with HDTV screens on each wall, Buffalo Wild Wings offers the optimal sport viewing experience.
Investment: $1,443,700 – $3,589,700
McDonald’s golden arches represent one of the most widely-recognized franchises across the world. Since its first restaurant, McDonald’s has paved the path for development in the fast food industry, inspiring hundreds of similar restaurants along the way. Today, McDonald’s serves millions of customers each day in more than 100 countries across the world.
Investment: $989,352 – $2,217,045
Known as the ultimate, convenient store, 7-Eleven offers various necessities from food to over the counter medication. Typically attached to gas stations across the country, 7-Eleven is one of the most popular convenience store franchises today.
Investment: $47,050 – $1,165,400