Though starting a franchise business is an exciting venture, it can also be a stressful task. Aspiring business owners have many questions about franchise opportunities, from cost to location. The International Franchise Professionals Group (IFPG) is a membership-based franchise consulting network dedicated to helping entrepreneurs navigate the complex world of franchising, helping them identify and invest in the best franchise opportunity. As part of that mission, we offer Frequently Asked Questions (FAQ) about the best sandwich franchises for Eager New Entrepreneurs, from recent college graduates with limited business experience.
In this article, we will provide answers to the most common questions asked about the top sandwich franchises. We’ll cover everything from up-front and residual costs to availability and franchisor support. We’ll also help you understand what makes a sandwich franchise a top choice for entrepreneurs expecting scalable growth and success.
What are the Top Sandwich Franchises?
The best sandwich franchises offer a wide variety of customizable food options, a popular brand, and a focus on delivering superior customer experience. The top sandwich franchises include:
- Jimmy John’s
- Firehouse Subs
- Jersey Mike’s
- Nathan’s Famous
- McAlister’s Deli
What are the Typical Up-Front Costs?
Varying by franchise, the up-front costs to open a sandwich shop typically range from $70,000 to $400,000. Typically these costs are due to startup expenses like franchise fees, marketing and signage, training, and other similar costs.
It is important to remember that start-up costs will vary from franchisor to franchisor, and based on the type of sandwich shop you are looking to open. Subway, for example, requires an investment of about $100,000 on average to open a franchise, but they provide additional support like ongoing training and marketing materials.
How Much will it Cost to Run the Business?
Operating costs, such as rent, utilities, and payroll, will vary between franchise owners and franchises, but typically runs between $3,000 to $14,000 per month. It is important to factor in the cost of ingredients, packaging, marketing materials, and licensing fees when budgeting for your business.
Additionally, depending on the size of the franchise you are looking to open, there may be additional costs to consider such as furniture, equipment, and supplies.
What Support will I Receive from the Franchisor?
The best sandwich franchises provide a variety of support to help franchise owners succeed. These include:
- Setting up the business, such as franchise agreements, licensing, store layout, etc.
- Ongoing support with business operations, including marketing materials, training, and product development.
- Help with location selection and lease negotiation.
- Strategic planning advice and access to marketing resources.
- Financial support, such as access to business loans and financial advisors.
It is important that, before investing in a franchise, you research the available franchisors and determine which provide the most support, as this can often make the difference between success and failure.
Where are the Best Locations to Open a Sandwich Franchise?
The best location for a sandwich franchise will vary depending on the size and type of your franchise, and the market you are looking to target. When selecting a location, consider factors like population, zoning laws, cost of rent, and local competition.
It can be helpful to conduct market research to better understand the demographics of your target area and determine whether or not the location you are targeting has the potential to perform well. Additionally, your franchisor may be able to provide assistance in location selection.
What are the Average Earnings of a Sandwich Franchise?
The average earnings for a sandwich franchise can vary greatly, depending on factors like location, competition, and the type of franchise you are looking to open. On average, sandwich franchises range in earnings from $45,000 to $350,000 annually, although franchises that perform well have the potential to earn significantly more.
Investing in a sandwich franchise could be an excellent option for recent college graduates with limited business experience who are eager to learn and grow. With the right knowledge and support, a franchise can provide a successful and rewarding investment opportunity. At the International Franchise Professionals Group, we are dedicated to helping business owners understand the process of franchising and investing in the best franchises.