Burger King Franchise
Burger King Franchise
In order to qualify to join this fast food giant, you need to have a net worth of $800,000, of which at least half must be liquid. Unless you meet that first requirement, the company will not even give your application a second glance. The actual initial franchise fee is $55,000, but the company wants to make sure it is getting into bed with someone solvent.
Once that is paid, a number of other costs creep into what will be your initial investment. From the signage (estimated to cost between $65,000 - $120,000), to the equipment and dining room ($330,000-$365,000), to the optional playground ($85,000), the company estimates that the total initial investment will add up to roughly $1,105,000. There is also the ongoing royalty fee of four percent, and another four percent towards a central advertising budget. At that price tag, you best be sure that the big Whopper is for you.
If you decide to make the commitment and buy a Burger King franchise, the good thing is that you will not be in it alone. With decades of experience in running a franchise system, the company has established a clearly defined system of support for franchise owners, both before you open and throughout the term of your contract.
The company provides all of managerial, technical, marketing, and operational training to new franchisees. By way of site selection, Burger King also has a comprehensive site of guidelines and specifications to help you choose a perfect location. With state of the art geographic mapping systems and market analysis, you should get started off on the right foot. They also have a field based real estate team to get you on your way.
With a $10 million annual marketing program and customized marketing plans, the company will help get people in your front door. And, despite the hefty fee they may take from you in the beginning, they do provide purchasing economies to reduce some of your operating costs.
There are significant costs of buying a Burger King franchise to be sure. But, if you’re looking at buying a fast food business, it deserves a second look. The company has been suffering declining sales, but in just the last few years, has turned things around. Last year, revenue rose to $1.5 billion in nine months, up five percent from the year before. It is also still ranked as one of the best brands in the industry. It remains a tough market, but this is one fast food giant that seems ready to take it on.
Burger King Franchise - To learn more about this author, visit Cynthia Gleeson's Website.
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In 1954, James McLamore and David Edgerton opened up their first Burger King restaurant in Miami, Florida, selling just hamburgers and milkshakes. Today, with a much expanded menu that includes breakfast items and salads, the company has more than 11,400 restaurants around the world. Roughly 10,400 of these are franchises, operating in over 60 countries, and serving 15.7 million customers every day. If you are interested in the food service industry, a Burger King franchise could be the way to go for you. But, there are some things you should know first.
In order to qualify to join this fast food giant, you need to have a net worth of $800,000, of which at least half must be liquid. Unless you meet that first requirement, the company will not even give your application a second glance. The actual initial franchise fee is $55,000, but the company wants to make sure it is getting into bed with someone solvent.
Once that is paid, a number of other costs creep into what will be your initial investment. From the signage (estimated to cost between $65,000 - $120,000), to the equipment and dining room ($330,000-$365,000), to the optional playground ($85,000), the company estimates that the total initial investment will add up to roughly $1,105,000. There is also the ongoing royalty fee of four percent, and another four percent towards a central advertising budget. At that price tag, you best be sure that the big Whopper is for you.
If you decide to make the commitment and buy a Burger King franchise, the good thing is that you will not be in it alone. With decades of experience in running a franchise system, the company has established a clearly defined system of support for franchise owners, both before you open and throughout the term of your contract.
The company provides all of managerial, technical, marketing, and operational training to new franchisees. By way of site selection, Burger King also has a comprehensive site of guidelines and specifications to help you choose a perfect location. With state of the art geographic mapping systems and market analysis, you should get started off on the right foot. They also have a field based real estate team to get you on your way.
With a $10 million annual marketing program and customized marketing plans, the company will help get people in your front door. And, despite the hefty fee they may take from you in the beginning, they do provide purchasing economies to reduce some of your operating costs.
There are significant costs of buying a Burger King franchise to be sure. But, if you’re looking at buying a fast food business, it deserves a second look. The company has been suffering declining sales, but in just the last few years, has turned things around. Last year, revenue rose to $1.5 billion in nine months, up five percent from the year before. It is also still ranked as one of the best brands in the industry. It remains a tough market, but this is one fast food giant that seems ready to take it on.
Burger King Franchise - To learn more about this author, visit Cynthia Gleeson's Website.
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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