Want to start a Chick-fil-A franchise? If you have have $10,000 to spare, you are most of the way there.
Ok, so there is a catch.
First of all, let’s start at the beginning. They are one of the cheapest franchises to launch today. With a $10,000 investment, they actually put all the time and money into getting your location started.
Once you are running, they take a hefty percentage of sales and profits. It comes to the tune of 15% of all sales, and another 50% of all profits prior to taxes being removed. To be fair, they gave you a business for next to nothing. They also paid for the location and renovations.
The real downside is that you cannot own more than your single location. Multiple franchises are not an option. What profits you have left, they are what you will have. There is no opportunity to expand your market share.
The company also gets thousands of franchise requests each year. Less than 100 are actually approved annually. It is similar to applying for a paying job at a major corporation. The likelihood of getting in is that slim.
You will also want to take into account corporate core beliefs. Aligning yourself with the company requires you to share many of the same views. After all, do you want to sell a product if you cannot stand behind it?
Leave a comment or email me if you know of any more business opportunities I should feature!