Are you considering investing in a Chick-fil-a franchise? If so, then you’ve come to the right place! There are many questions that arise when looking into purchasing a franchise. From the costs of a franchise to the types of support available once you are an owner, there are countless variables to consider. This article will help provide clarity on the questions most commonly asked about Chick-fil-a franchise ownership.
What’s the cost to purchase a Chick-fil-a franchise?
The cost to purchase a Chick-fil-a franchise depends on several factors. If you are looking to own and operate a restaurant, the total investment is estimated at $955,708 to $2.3 million. The operational costs and real estate fees vary based on location. Initial franchise fees range from $10,000 to $45,000.
What kind of support is provided once I purchase a franchise?
As a franchise owner, you are not alone. Chick-fil-a takes pride in the fact that they provide superior support to their franchise owners. Once you become a franchise owner, Chick-fil-a provides you with the support necessary to ensure the success of your business. This support includes customized business operations training, best-in-class marketing and local store marketing support, and access to their online diversity and inclusion network.
What kind of profits can I expect to make?
One of the primary benefits of owning a Chick-fil-a franchise is the potential for significant profits. Depending on the location of your restaurant, expected gross sales can be anywhere from $2-$4 million annually. Chick-fil-a generally provides a 64 percent operating margin, meaning on average, franchisees can expect an annual net profit of $1.3 million on sales of $2 million.
Do I need prior experience in the restaurant industry to purchase a franchise?
No, not necessarily. Although having prior experience in the restaurant industry is certainly a plus, it is not a requirement for purchasing a Chick-fil-a franchise. The Chick-fil-a franchise model is designed for aspiring business owners, who have the financial resources to invest in a franchise and the desire to succeed in the restaurant industry.
Can I buy an existing Chick-fil-a franchise or am I required to build a new store?
Chick-fil-a prefers prospective franchise owners to build a new franchise rather than purchase an existing one. Existing franchises may be available, but they are very limited and difficult to come by. The only way to purchase an existing franchise is to be added to the waitlist, which can take up to five years.
Is there an opportunity for me to get financing?
When you purchase a Chick-fil-a franchise, you will need to have access to liquid capital or obtain financing to cover the initial investment. Chick-fil-a currently does not provide financing to its franchisees, however, there are a number of banks and lenders that specialize in franchise financing and can provide the necessary funds.
Is owning a Chick-fil-a franchise a good investment?
Yes. Owning a Chick-fil-a franchise can be a very profitable and rewarding venture. However, as with any business venture, it is important to do your due diligence and assess the potential risks associated with investing in a franchise.
At the International Franchise Professionals Group (IFPG), we have extensive experience helping aspiring business owners through the process of identifying and investing in franchise businesses. With our expertise and access to the IFPG network of franchisors, franchise consultants and vendor members, we can provide guidance and support every step of the way.