Food franchises in general and quick-service restaurant (QSR) franchise businesses in particular tend to dominate the top rankings.
The most respected compendium of ranked franchises, Entrepreneur’s Franchise 500 list, which gives a yearly roundup of the top performers and most promising franchises, is routinely dominated by food franchises.
Half of the top ten franchises in the country right now are food franchises, and well over a hundred of Entrepreneur’s Franchise 500 franchises are franchises in the food industry.
The reason is that fast food franchises like Hot Dog on a Stick have gained a lot of brand awareness over the years by consistently delivering reliable, great-tasting results.
Hot Dog on a Stick has been an American icon since it was founded in 1946. What’s the secret to Hot Dog on a Stick’s rise to prominence?
While it’s hard to boil it down to one thing, offering traditional staples like refreshing lemonade and, of course, hot dogs on sticks (as well as customer-approved newer items like funnel cake on a stick) is central to its brand recognition.
Hot Dog on a Stick operates in the hugely popular franchising sector of quick-service restaurants.
The quick-service sector within which Hot Dog on a Stick is operating generates an astounding $200 billion in revenue in the United States every year.
The overarching restaurant industry in the United States generates over $750 billion annually.
Obviously, there’s a market there. Over 10 percent of the U.S. workforce operates in the restaurant sector, and up to a third of Americans dine out once per week or more. Hot Dog on a Stick franchise locations are well positioned to capitalize on that demand.
There are also grounds for thinking that there will be rapid expansion in the fast food economy in the future as well because the biggest demographic of fast food customers are young adults aged 18 through 29.
About two-thirds of that demographic dine out at fast food restaurants like Hot Dog on a Stick once a week or more. Can you say opportunity?
In 2014, Hot Dog on a Stick proudly teamed up with the Global Franchise Group. This move has huge implications for your ability to attract and retain customers since area developers and marketing experts ally themselves with nationwide advertising networks to help you grow your local base of loyal customers.
Being part of the Global Franchise Group also means that you’ll have greater access to top service providers and preferred vendors, as well as larger support teams and more funding opportunities.
When you talk about franchise startup costs, you’re talking about liquidity and net worth requirements, marketing and advertising expenditures, insurance, and royalty payments down the line. There are many unforseen costs with any business and usually those can’t be avoided. The key is understanding the ebbs and flows of the business cycle.
Specialized training teams help every Hot Dog on a Stick investor with bookkeeping, marketing ideas, and operating online systems.
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