After a long, exhausting day of work, coming home to prepare a home-cooked meal isn’t always an option.

You also don’t have the time to stop at a traditional restaurant to spend $20 or more on a meal that may take 30 minutes to arrive.

For most people, stopping to get fast food is the only feasible option. From the comfort of your car, you can join the drive-thru line and buy a full meal for under $10 and receive it within minutes.

It’s no wonder the industry is seeing billions of dollars in profit each year and continues to see steady growth each year. Today, the topic being discussed will be the fast-food industry and franchising.

Fast Food Industry

The burger franchise is holding a 30% share. Globally, the industry generated almost 600 billion dollars annually and is expected to see an increase every year.

80% of Americans dine in a fast-food restaurant at least once a month, and 50 million Americans consume fast food daily.

This is a very profitable industry as it offers convenience, efficiency, and, best of all, extremely cheap prices to feed a whole family.

As the industry continues to grow, undoubtedly, more people are looking to invest and start their franchises.

Getting Started

So you’re thinking of applying to run your franchise? First, you’ll want to know what kind of franchise you want to run, such as a burger franchise or a pizza franchise, etc.

Starting your fast-food franchise sure sounds like a lucrative opportunity, that’s until you know the requirements.

Some franchises, for example, require you have a net worth of $750,000 and liquid assets of $250,000. This doesn’t include all the restaurant fees you’ll pay annually and your initial, upfront investment.

After you apply to operate a franchise, you’ll most likely be put on a waitlist as there are hundreds of other prospects for the company to review.

To overview, let’s go over this once more.

1. Make sure you have the appropriate funds
2. Do your research
3. Apply to a franchise
4. Open your fast food restaurant

Remember, you don’t own the company; you’re just paying for the rights to use that companies brand to make a profit for yourself.

Summary

The fast-food industry is a great idea if you have the money to get started. The average franchise owner makes $120,000 per year, with some making either more or less.

The industry is on the rise, and this is the most popular option for Americans looking for a meal outside their homes. According to the CDC, one-third of children eat fast food on any given day, and this is a large number that will likely rise.

The burger franchise is the most profitable within the industry as it holds a 30% share. So, if you have the money, or access to it, why wait? Put your name on that waitlist.