If you’re looking for the best investment when starting your burger restaurant, take a look at how BurgerFi stacks up next to its competitors in terms of cost and profitability.
Affordable franchises in fast-casual burger businesses are an attractive choice, enabling entrepreneurs to open rising brands with growth potential while enjoying the satisfaction of knowing they are serving something special.
Entrepreneurs find it easy to understand the logic of entering the fast-casual burger restaurant industry. QSR magazine reports that 85 percent of customers love or like burgers. Furthermore, burgers outrank 99 percent of the thousands of other foods in Datassential’s FLAVOR database. The market size of the segment is now near $130 billion, with annual growth expected at a rate of 4.6 percent, to $931.7 billion by 2027, thanks to consumer preference for the burger/sandwich segment.
The BurgerFi Brand
BurgerFi was started by John Rosatti, an already successful Brooklyn entrepreneur, back in 2011. Like other fast-casual burger restaurants hitting their stride around this time with the promise of fresh, top quality ingredients served in a hip, spirited environment, Rosatti believed he was contributing to the “BurgerFication of the Nation,” hence the company’s name.
BurgerFi locations are heavily clustered in South Florida, where the company began, and its headquarters located. But the brand aims to make a name for itself nationally as the chain now has a presence in about 40 markets, with nearly 125 locations across the United States.
In terms of expansion, BurgerFi sees itself opening 15 more restaurant locations this year, despite the effects of COVID-19.
The estimated initial investment for opening a BurgerFi franchise ranges from $613,600 to $987,250, which includes the one-time initial franchise fee of $37,500.
A Better Burger Opportunity
As a consumer, there is a multitude of “better burger” fast-casual restaurant dining options. As a franchisee, you are limited by your investment budget, projected income requirements, restaurant location availability, and more. Many companies, such as Smashburger and Five Guys, are not offering new franchise opportunities in North America at this time.
Within this “better burger” category, Wayback Burgers is a better burger brand that keeps growing, as QSR Magazine reported. As an affordable, higher-quality burger franchise, Wayback combines the quick service of fast food with the elevated menu and dining atmosphere of a casual sit-down restaurant. A franchisee’s initial investment to open a Wayback Burgers location is between $209,000 and $524,500, a much lower range than the BurgerFi ticket.
The reasonable investment costs come with the ongoing backing and support of one of North America’s most successful and rapidly expanding burger franchises, making it attractive to entrepreneurs looking for the opportunity to start their own fast-casual burger restaurants for well under $1 million. Wayback Burgers also offers multi-unit agreements.
If you would like to learn more about Wayback Burger franchise opportunities, visit us.