If you have been looking to invest in a coffee or pretzel franchise, now may be a good time to choose the best one to cash in on American’s huge appetite for snacks.
Consumer spending on snacks reached almost $90 billion in 2017. Many Americans said that they eat snacks three times each day, so the large spending in the previous year is not too surprising.
While snacking has become common in between meals, consumers have become more conscious about healthier options. A Pepsi analysis showed that Americans have chosen to ditch the usual high calorie-laden sweets or salty food. For instance, those who are fond of nachos have switched to a low-fat cheese option.
You could look for a pretzel brand that offers healthier alternatives. Once you find one, the next step would involve budget management, especially if you are picking based on the cost of franchising fees. On the other hand, those who have money to spare may consider a well-known brand like Dunkin’ Donuts or 7-Eleven.
An initial investment in a 7-Eleven franchise may cost as low as $37,550 or even up to $1,149,900. One of the positive things about this brand is its willingness to help potential franchisees in choosing pre-determined locations. This saves you time and money from labor and construction expenses in the process.
Dunkin’ Donuts franchises are slightly more expensive. You should expect to spend between $40,000 and $90,000 for the initial fee alone. If you’re new to franchising, a soft pretzel franchise with a low franchising fee may be a better alternative.
The profitability of a snack franchise depends on your store’s location, marketing strategies, and access to resources and equipment. The good news, however, involves a steady source of income if you find a franchisor who can help you with taking advantage of the huge spending on snacks.