It’s easy to conjure up an image of a fast-food joint. How many popped into your mind while reading the last sentence? Fast food makes up over $200 billion in revenue each year in America but it’s still less than 28% of the total $711 billion the food industry produces each year. It is an ever-booming, never-fading, always-frequented industry that about 50 million Americans eat at daily. Think about that.
Franchise Food Options
The franchise food industry offers a variety of entry points into this vast and lucrative field. From cupcakes to wine bars, school lunch programs to butcher shops, the variety of options is astounding. Seventy-seven different food service models line Hundred Acre Consulting’s portfolio, and they range in price from $56k for on-site vending to a $3.4 million grill house/sports bar. Mostly however, you can buy into this industry for under $300k and as an owner, can earn in the mid six figures from any of them.
Some franchises hold more value than others, so it is important to choose your investment wisely. According to a study conducted in 2018, Wendy’s, Subway, Kentucky Fried Chicken, Taco Bell, Dairy Queen, Five Guys, Dunkin’ and Chick-fil-A make excellent investment opportunities. These franchises have been around for decades and maintain a loyal following, meaning they rake in regular profits. Also, by regularly innovating and introducing new menu items, they should continue to do business well into the future.
Fast-casual restaurants make up almost half of Hundred Acre Consulting’s food industry portfolio. With thirty-five models to choose from, these restaurants are gaining popularity every day. The fast-casual restaurant has been the standard bearer for growth in the food industry for over two decades. Although it makes up less than 10% of the overall market share, these businesses have seen a 500% growth rate since 1999. Fast-casual restaurants include Chipotle Mexican Grill, Panera Bread, Boston Market, Pollo Tropical and Chick-fil-A, to name a few.
This type of restaurant popped up in the United States in the 1990s and shows little sign of going away anytime soon. Fast-casual restaurants serve as the intermediary between fast food and casual dining, using fewer processed ingredients than their fast food counterparts. Because of the focus on freshness, customers also perceive these restaurants as healthier alternatives to regular fast food.
According to Franchise Help, the fast-casual consumer is married, working and between the ages of 35 and 45. They may have kids but they’re eating without them. Consumers are looking for healthier options, and 66% of recently surveyed eat more diverse cuisines than ever before. Almost 70% report they are more likely to eat at a restaurant offering locally sourced food.
SBA and Franchise Food
You should also note that SBA loves the franchise food industry. With as little as 15% down and SBA financing, you can become an owner in this ever-growing industry. And as with all franchises, you receive full training and support. They help you find your perfect location and negotiate the lease agreement for you. They’ll help you find and train employees and throw a gala grand opening for your restaurant. The franchise industry is like a big family designed to succeed.
So, whether you want to go with healthy options or sell chocolates, offer gluten-free or French pastries, the franchise food industry is your one-stop shop for a business to change your life.
Want to get involved in the franchise food industry? Hundred Acre Consulting is a full-service, certified franchise consulting and development firm with more than eight years of experience. Whether you are a seasoned business owner wishing to add to your portfolio or new to business ownership and seeking the stability and security of owning an established brand with a proven and successful model, we can help you get there. Contact us to get started. Then, check out recruiting and retention tips for franchise owners, management tips and client success stories. We can’t wait to partner with you.