Reaching a wide market, establishing themselves in foreign markets and meeting the growing demands of consumers are the key characteristics of the most influential franchise brands in the industry. As franchises seem to have gained popularity over the past few decades, they have a long history. Franchising has played a vital role in the modernization and economic growth of many nations.
Today, opening a franchise is one of the most important decisions entrepreneurs make. There are thousands of franchises and the following are the most influential of them all.
McDonald's
McDonald's is a fast food franchise that has 29,544 franchises worldwide. The first franchisee, who was also a business partner of Mac and Dick McDonald's, opened the first restaurant in 1955 and was at the birth of the McDonald's franchise. A major factor that contributes to the success of a franchise is the support and training it provides to its franchisees. Dedication to franchise owners has attracted the interest of most candidates who want to establish a business relationship with McDonald's.
The franchise is internationally recognized for its fast food service of hamburgers, chicken, fries, milkshakes and salads. To invest in a franchise, you need a minimum of $1,263,000 and a maximum of $2,235,000. McDonald's continues to look for new franchisees around the world.
KFC
The first KFC franchise was opened in 1952 after Harland Sanders, the founder of KFC, granted it to Pete Herman. The number of KFC franchises currently stands at 13,846. You need $1.4 to $2.7 million to open this franchise.
KFC is loved for its delicious chicken, the recipe of which remains a secret to this day. It has received recognition from various stakeholders around the world, making it an attractive venture for budding entrepreneurs. If you want to open a franchise, this would be a great opportunity as the franchisor is trying to establish more units around the world.
Pizza Hut
In the past, the franchisor has made significant investments in ensuring that their franchisees successfully operate their units in different parts of the world. This has been demonstrated through the training and support offered in running these chains. This franchise also has a reliable reputation. Investors saw and capitalized on the potential of this franchise. Since the launch of the first franchise in 1960 in Topeka, Kansas, it has seen an upward trend in growth.
Pizza Hut was founded in 1958 by two brothers, Dan and Frank Carney, using a $600 loan they borrowed from their mother. Today, the franchise operates 12,956 units worldwide. If you want to open a Pizza Hut franchise, you will need a minimum of $357,000 and up to $2,213,500.
Dunkin' Donuts
Dunkin' Donuts is one of the oldest franchises in the world. The history of the franchise dates back to 1946, when founder Bill Rosenberg began delivering food to workers in Boston. Dunkin' managed to open units in more than 32 countries around the world. Brand loyalty is one factor that makes the company stand out from other coffee and donut shops. The company operates a total of 11,310 franchises that require between $395,500 and $1,597,200 to open.
Metro
Subway is among the most popular sandwich franchises. It is well known worldwide and receives significant attention from several platforms, including social media. The store was opened by Fred DeLuca in 1965 to help him save for college. The company has experienced several challenges before becoming what it is today.
Its first franchise was established in 1974, and today it is available in more than 98 countries. The initial investment to run a Subway franchise is $140,050 on the low end and a maximum of $342,400. There are already 42,227 units operating worldwide and the franchise is looking to add more franchises.
More powerful franchises
7-Eleven, Anytime Fitness and Taco Bell are also some of the most influential franchises around the world. Their units have a lot of traffic at their locations and have loyal customers. Franchisors are committed to training and supporting their franchisees to align them with their mission and values; a contributing factor to their success.
The quality of their products and services also stands out, which attracts most of the customers. The ability to satisfy and attract customers made them a point of interest for their investors. Investing in any of the above franchises is a smart move. Satellite units have created employment opportunities around the world and contributed significantly to economic development.
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