RESTAURANT FRANCHISE OPPORTUNITIES: The Top 15 Picks in 2023

Restaurant franchising is the new oil well in the business world. Do you enjoy cooking? I’m sure you’d love to open up a business in the food industry. There is an assortment of flavors, labels, and styles to explore if you desire to launch a restaurant business someday and are interested in franchising rather than building a brand from the ground up.

Franchise is a confirmation authorization granted by a council or private company that allows the owners to run the business on the company’s behalf. The franchise industry has expanded as more people seek to increase their earnings through these franchises.

Some of the attainable restaurant franchise opportunities claimed to have the highest return. This post included a list of the most profitable franchises, as well as the best restaurant franchise opportunities, and other information.

These franchise companies not only have the highest average annual income, but they are also major and well-known brands in the United States.

In this article, we’ll discuss some of the best restaurant franchise opportunities in 2023. If you enjoy all things pertaining to food and cooking, this is for you.

What Franchise is the Most Profitable to Own?

Now that you already have an insight into what the Franchise business is all about, let’s now consider some of the most profitable restaurant franchise opportunities to own in 2023.

#1. MacDonald’s

McDonald’s is one of the best food establishments that has evolved into a global food chain. There were approximately 40,031 McDonald’s franchises in operation worldwide.

This restaurant franchise business is one of the top-notch industries and can provide an excellent opportunity for financial growth. The number of branches and revenue it earns per year are also strong pointers that it is the most profitable franchise to own.

McDonald’s, for example, could provide new financing and commercial opportunities. It is preferable to invest in a startup because it yields a higher net worth.

#2. Dunkin Donuts

This enterprise is the most well-known brand, thanks to its high-quality donuts and coffee. It’s return on earnings is one of the highest in the United States and around the world, so it comes in second on our list.

From a small coffee shop in the 1950s to one of the world’s largest food chains, the company has grown.

Dunkin Donuts has over 11,300 locations worldwide, making it the most successful food chain and one of the most profitable franchises. The company also offers franchise opportunities to qualified candidates. All this makes it both one of the most profitable franchises to one and the best restaurant franchise in 2023.

#3. Taco Bell

This is another popular fast food chain that you should consider if you want to enjoy monthly profits that are extremely rewarding. It is one of the market’s safest options, and it is best known for its unique and innovative products and menu changes.

According to recent rumors, it is one of the most profitable franchises on the market.

Furthermore, they have been running for over 5 decades, allowing it to expand further. It’s safe to say they’re not going anywhere for at least the next two decades. The decision to franchise Taco Bell could be a life-changing experience.

#4. Subway

Subway is a multinational food corporation with operations all over the world. They have thousands of locations worldwide, making them one of the most trusted brands for franchising and higher ROI.

Subway is one of the highest-rated companies, with multiple locations in the United States alone. Because of their extensive variety of flavors, bread, and sauces, they call themselves a healthy fast food option.

15 Restaurant Franchise Opportunities

#1. Panera Bread

This best restaurant franchise opportunities had humble beginnings in 1980, initially, it began as a small cookie store in Boston Massachusetts. Since then, they’ve expanded across 2,300 bakery-cafés in both the United States and Canada.

Panera Bread is well-known for its freshly baked cookies and tarts, delicious and tasty salads, and great soups.

Besides food, Panera Bread is dedicated to providing a dining experience. They make you feel welcome and like you are eating in your own home. They also want guests to spend time chatting or reading in front of the built-in fireplaces and free WiFi.

If you want to open a Panera Bread franchise, you must meet certain criteria. First and foremost, Panera Bread does not offer single-unit franchises. Instead, they need their franchisees to open a number of locations, typically 15 bakery-cafes, within six years.

In addition, as a prospective franchisee, you must have a net worth of at least $7.5 million and $3 million in liquid assets.

Because franchisees have to open a lot of stores, they try to get successful business owners with a history of aggressive marketing to apply. If you fit what they’re looking for, go to their website to learn more.

#2. The Melting Pot

With its fondue-style cooking, it offers a one-of-a-kind dining experience, making it one of the best restaurant franchise opportunities in 2023. When they started off, their branch in Florida, which opened in 1975, started with serving only cheese, beef, and chocolate fondue.

Brothers Mark and Bob Johnston saw the potential in this small restaurant and purchased the brand in 1985 to launch The Melting Pot Restaurants, Inc. franchise.

The menu at The Melting Pot has evolved in tandem with its rapid growth. Guests enjoy a full-course meal fondue-style, complete with artisan cheeses, delectable meat cuts, and dessert dipping sauces.

The initial franchise fee of $20,000 is required to open your own location. The gross investment cost for this restaurant franchise can range from $1,391,820 to $1,774,210, making it on the more expensive side. To find out more about the various investment costs and how to become a franchisee.

#3. Johnny Rockets

Next on our list of some of the best restaurant franchise opportunities in 2023, is Johnny Rockets. It was founded in 1986 in Los Angeles, California, and has since expanded to 25 countries.

This best restaurant franchise does not reinvent the wheel or offer the most recent trends. Instead, they concentrate on what works: a classic all-American brand serving classic burgers and hand-spun milkshakes.

You can expect a total investment of $650,500 to $1,098,500 depending on the type of location you want to open. The initial franchise fee is $49,000, and you must have a minimum of $1 million in liquid capital. It’s one of the best franchise opportunities in 2023.

#4. Fuddruckers

This franchise was founded in San Antonio, Texas, in 1980, with the goal of providing an irresistibly delicious burger. This single-minded goal has enabled them to deliver a vast burger chain that spans North, Central, and South America.

Furthermore, Fuddruckers has received numerous accolades, including 2010: Better Burger in R&I Magazine Menu Trends and inclusion on the Franchise Times Top 200 list.

Fuddruckers is looking for franchisees to open multiple locations. Before applying to become a franchisee, applicants should have a net worth of $750,000 to $1 million. The total investment ranges from $490,000 to $1.56 million, depending on the location and size of your restaurant. Visit their website to learn more about franchising.

#5. PITA Mediterranean Street Food

Next on our list of the best restaurant franchise opportunities is this amazing restaurant. You must contemplate this restaurant if you want to open a restaurant franchise with a Mediterranean focus. Since its inception in 2012, this chain has grown to include branches in California, Georgia, South Carolina, and other states.

This best restaurant franchise opportunity is committed to providing its customers with delicious and original and unique Mediterranean cuisine. Customers return for more of their handmade falafels, shawarma, and gyros.

As a prospective franchisee, you must have at least $100,000 in liquid assets and a $300,000 net worth. The total investment can range from $175,000 to $350,000, making it relatively less expensive than other restaurant franchisees.

#6. Another Broken Egg

This franchise has more than 69 cafes since it was launched and has been named one of the Top 500 Growth Franchises for three consecutive years.

Furthermore, Another Broken Egg attracts a lot of tourists, earning it a place on Trip Advisor’s list of the Top 10 Best Restaurant Chains in America 2018.

If Another Broken Egg has to whet your appetite, here’s what you must know about becoming a franchisee.

The franchise fee for the first cafe is $50,000, but it goes down to $35,000 for each additional cafe. Following the signing of your franchise agreement, you will be required to pay a 5% royalty fee, a 1% in advertising fund, and lastly a 2% local store marketing fee.

#7. Saladworks

Since it started in 1986, this franchise has grown to more than 80 locations in New Jersey, Virginia, Texas, and other states. Its king salads, sandwiches, and pinwheel wraps are designed to be a healthier choice than conventional or regular fast food and burger outlets.

Saladworks is a franchise that can capitalize on this trend as more people strive to eat more nutritional foods, even on the go. It’s also one of the best restaurant franchise opportunities in 2023.

Now if you wish to open your own Saladworks outlet, you should budget between $163,724 and $452,292. You must have at least $100,000 in cash on hand.

#8. Gyu-Kaku

This franchise’s name in Japanese means “Horns of the Bull,” which says a lot about how unique and scary the restaurant experience is.

Gyu-Kaku Japanese BBQ, one of Japan’s biggest restaurant chains, is expanding to the United States, this makes it one of the best restaurant franchise opportunities in 2023.

Gyu-Kaku creates an immersive dining experience in which guests also serve as chefs. Customers order cuts of beef, pork, and seafood, which are cooked on the in-table smokeless grills.

This interactive dining experience deviates from the norm and is one of the unique features that has made it expand to over 650 locations worldwide.

Prospective franchisees must have a net worth of $1,000,000 and at least $500,000 in liquid stock/capital. The sum total of investment required to start your own Gyu-Kaku Japanese BBQ ranges between $781,793 and $2,110,500.

#9. Quaker Steak & Lube

The original design was founded in 1974. They’ve been serving bone-in wings, nachos, burgers, and more to ravenous customers for 40 years.

As a way to maintain the original theme, their locations have motorsports-themed decor, including gas station memorabilia and as well as race cars suspended from the ceiling.

Quaker Steak & Lube also hosts special events like bike nights and car meets. Quite an interesting franchise, it’s also one of the best restaurant franchise opportunities in 2023. Even though it’s pretty expensive to open, it’s going to be worth every cent spent.

You must meet up with some financial requirements if this franchise interests you . Depending on whether you want to open a single location or develop multiple units, franchisees should have $500,000 to $1 million in liquid capital.

#10. Wow Bao

This franchise was founded in 2003 and is one of the best franchise opportunities in 2023 for anyone who enjoys Asian tastes and baos. If you’re not familiar with the term “bao,” it’s a “soft, velvety dough filled with savory or sweet flavors and steamed.”

Wow Bao also serves other fast Asian street food, such as potstickers, dumplings, and soups, in addition to baos.

As a prospective franchisee, you must have at least $6 million in company net worth and real estate experience. They don’t provide many other details, such as a total investment estimate or franchise fee. To be totally sure of what you are getting into, be sure to contact them through their website.

#11. Moe’s Southwest Grill

This brand has become known for its Southwestern fare thanks to its simple, customizable menu selection. What’s a fun fact? The menu contains only 20 ingredients.

But this fast-casual kingpin, which now has over 600 locations, isn’t resting on their laurels. The brand has kept their grills blazing hot, having newly modernized and refreshed every aspect of their iconic brand. This hard work has not gone unnoticed, as Moe’s is ranked 268th on last year’s Franchise 500 list, making it one of the best restaurant franchise opportunities in 2023.

#12. Jamba Juice

Jamba Juice is a popular label for on-the-go smoothies and juices. Their success as a franchise concept speaks for itself; the brand has over 800 branches in 35 states and six countries.

Jamba has made three solid appearances on Entrepreneur’s Franchise 500 list, reaching No.189 in 2022, their highest ranking to date. This makes it one of the best restaurant franchise opportunities in 2023.

What is the secret to Jamba’s success? Small store imprints and a strong corporate marketing team focused on consumer sentiment make brand loyalty appear effortless.

#13. DominoPizza

With over 17000 locations worldwide, Domino’s Pizza is one of the world’s largest fast-food pizza franchises.

For prospective franchisees, Domino charges a low initial franchise fee of $25,000. The average cost of opening a Domino’s franchise ranges between $150,000 and $500,000 on the low end.

Regardless, franchise owners have reported high profits, with an average salary of $95,000. Popular franchises generate even more revenue!

Domino’s Pizza has a large selection of pizzas and crusts. You can’t go wrong with this option because it is one of the best restaurant franchise opportunities in 2023.

#14. Auntie Anne’s

Auntie Anne’s makes savory and sumptuous doughs for their freshly baked pretzels using Beiler’s unique, award-winning recipe. This franchise has expanded to over 1200 locations over the last three decades.

A franchise fee of $35,500 is required for prospective franchises. Building fees range from $27,000 to $194,000 banking on a variety of factors, and there are additional costs to consider.

The typical profitability of an Auntie Anne’s franchise varies; one estimate was $89,749 per year, while other estimates range from $143,550 to $503,500. This is also one of the best restaurant franchise opportunities in 2023.

#15. MacDonald’s

McDonald’s is one of the best food establishments that has evolved into a global food chain. There were approximately 40,031 McDonald’s franchises in operation worldwide.

McDonald’s, for example, could provide new financing and commercial opportunities. It is preferable to investing in a startup because it yields a higher net worth.

Which Food Franchise is Best?

Some of the best food franchises include;

Baskin Robbins
Auntie Anne’s
Papa John’s
Taco Bell

How to Get KFC Franchise?

You must submit a KFC Application
Study the Application and Paperwork
You must attend the interview and Finalization Process
Purchase an Existing KFC Franchise

What Franchise Business is Cheapest?

Cruise Planners
Fit4Mom
Chem-Dry
Jazzercise
Stratus Building Solutions

What are the 5 Disadvantages of a Franchise?

Costs and Fees
Absence of Independence
Guilt by Association
Insufficient Growth Potential
Restrictive franchise agreement

Why Do Most Franchises Fail?

The dominating cause of a franchisee failure is the franchisee not having sufficient capital. Being undercapitalized can be the result of a slow start-up or the franchise process needing more working capital than the amount divulged in the franchise disclosure statement or report.

Conclusions

Whether you’re considering one or some of the best restaurant franchise opportunities we highlighted here or another franchise opportunity you have heard of before, it’s fundamental to understand how to analyze which of those franchises is the ideal match for you.