5 Affordable Restaurant Franchises You Can Start for 5 Figures If you want to make food but don't have the dough, these food franchises are actually accessible.
Starting a restaurant can be a risky proposition, in large part because of the high price tag associated with finding a physical location, buying equipment and hiring staff. Even restaurants with dollar menus often cost seven figures. (For example, a McDonald's franchise will run anywhere between $1 million and $2.2 million). In fact, of the top 10 restaurants in the Entrepreneur Franchise 500 list, Jersey Mike's Subs is the most affordable with a minimum price tag of $193,000.
Even if you're willing to dive in, get to work and take a chance on a restaurant, that type of price tag can be prohibitive for many potential investors. That's why we've put together a list of successful but accessible franchises that cost five figures, allowing you to achieve your dream without breaking the bank.
Start the slideshow to learn more about each of these franchises.
Related: Considering franchise ownership? Get started now and take this quiz to find your personalized list of franchises that match your lifestyle, interests and budget.
Firehouse Subs
The amount you'll need to invest in a Firehouse Subs restaurant can vary wildly depending on a bunch of factors, but on the low end of that scale it is around $95,000. However, according to the Firehouse Subs franchising page, you need a minimum of $80,000 to invest (plus a credit score of 650+), which means that it's not totally out of the ballpark.
The subs franchise is looking to invest in new franchises all over the country -- from New York to Florida and California.
Franchise 500 rank: 39
CEO: Don Fox
Business headquarters: Jacksonville, Fla.
Franchising since: 1995
Initial investment: $94,783 to $1,090,366
Initial franchise fee: $20,000
New units in 2016: 80 units (8.0 percent)
Training: 336 hours on the job, 35 hours in the classroom
Marketing support: Co-op advertising, ad templates, national media, regional advertising, social media, SEO, website development, email marketing, loyalty program/app
Related: Quiz: How Much Do You Really Know About McDonald's?
Baskin-Robbins
It's still wintertime, so you might not be ready to think about ice cream just yet, but you should. Baskin-Robbins franchises have shown a ton of growth internationally since 2008. In the past decade, Baskin-Robbins has added 2,151 international franchises, which represents a 67.4 percent growth.
The ice cream franchise sells for a minimum of $93,550. However, considering that its sister company, Dunkin' Donuts, typically sells for between $229,000 and $1.7 million, it could definitely be worse.
Franchise 500 rank: 41
CEO: Nigel Travis
Business headquarters: Canton, Mass.
Franchising since: 1948
Initial investment: $93,550 to $401,800
Initial franchise fee: $25,000
New units in 2017: 164 units (2.1 percent)
Training: 2.5 weeks on the job, 2.5 weeks in the classroom
Marketing support: Co-op advertising, ad templates, national media, regional advertising, social media, SEO, website development, email marketing, loyalty program/app
Related: The 5 Best Pizza Franchises You Can Start Today
Chester's
Chicken restaurant Chester's has been around since 1952, but it only started franchising in 2004. It only makes sense, then, that the company has experienced rapid growth in the past decade, going from 82 locations in 2008 to 1,156 by 2017. One reason for that is the company's low initial investment, $12,000, and its even lower franchise fee, which is $3,500.
Franchise 500 rank: 153
CEO: Ted W. Giles
Business headquarters: Birmingham, Ala.
Franchising since: 2004
Initial investment: $12,000 to $296,600
Initial franchise fee: $3,500
New units in 2017: 40 units (3.6 percent)
Training: 30 hours on the job, 3 hours in the classroom
Marketing support: Ad templates, social media
Related: 5 Things You Need to Know Before You Buy a Pizza Hut Franchise
Checkers and Rally's
The number of Checkers and Rally's restaurants has been up and down for the last decade, but by 2017, there was a 10-year high of 851 locations -- 284 owned by the company, 567 U.S. franchises. Checkers and Rally's is still looking to add locations along the east coast, the midwest and southwest regions. The current initial investment is $96,414.
Franchise 500 rank: 140
CEO: Enrique Silva
Business headquarters: Tampa, Fla.
Franchising since: 1989
Initial investment: $96,414 to $1,501,265
Initial franchise fee: $30,000
New units in 2017: 18 units (2.2 percent)
Training: 160 to 220 hours on the job, 32 to 40 hours in the classroom
Marketing support: Co-op advertising, ad templates, national media, regional advertising, social media
Related: Just How Much Does It Cost to Own a Fast-Food Franchise?
Champs Chicken
Like Chester's, Champs Chicken is a low-cost chicken restaurant. You can potentially invest in a Champs Chicken for as little as $9,000 (which, technically, makes it a little too affordable for this five-figure slideshow).
Champs Chicken only started franchising in 2013, so it might not be as well known as some other entities on this list, but there are already 397 locations in the U.S..
Franchise 500 rank: 281
CEO: Shawn Burcham
Business headquarters: Holts Summit, Mo.
Franchising since: 2013
Initial investment: $9,000 to $349,000
New units in 2016: -21 units (5.0 percent)
Training: 28+ hours on the job
Marketing support: Co-op advertising, ad templates, national media, social media, email marketing
Related: 24 Top-Ranked, Affordable Franchises You Can Buy for $25,000 or Less
