Americans’ penchant for hot dogs become more noticeable every Fourth of July when people eat more of those than any other day of the year.
The National Hot Dog and Sausage Council said that as much as 150 billion hot dogs are eaten every Independence Day. A National Retail Federation survey showed that Americans had planned to spend almost $7 billion on food on the same day.
Buying a Franchise
Most hot dog sales might come from supermarkets and groceries, but running a hot dog business seems like a good opportunity to take advantage of high consumption. Those who are decided on buying a hot dog stand franchise should consider a company that offers the most available locations in the US.
This allows them to focus on the core operations of the business, instead of finding a good place for their store. While a franchise offers several advantages compared to starting your own business, you should be aware of the required investment.
Cost of Business
A 7-Eleven franchise requires an initial investment worth $37,550, which already provides you with an opportunity to sell more than just hot dogs. Other franchises, such as Hot Dog on a Stick, have a more expensive initial investment starting at $338,200.
Franchising fees are also another thing. You should expect to pay between $10,000 and more than $1 million for these expenses, depending on your contract with the franchisor.
These fees are simply too expensive for many aspiring business owners, but fortunately, there are cheaper options that you could try, especially if you’re new to franchising.
Unlike other businesses, demand for food has been immune to the impact of economic volatility. Most people will still spend on snacks regardless of the economy’s performance. How do you intend to take advantage of Americans’ love for hot dogs?