How to Buy a KFC Franchise. KFC is one piece of the largest restaurant systems in the world with franchises in over 80 countries including fast food restaurants like Long John Silver's, Pizza Hut, Taco Bell and A&W. Owned by Yum Brands this unique conglomeration of restaurants offers you several advantages, but a KFC franchise may not be for every entrepreneur.
Be prepared to own more than one franchise. Yum Brands focuses on multi-branding, which means if you want to open a KFC, you'll need to also open another franchise to place alongside it. You'll draw in groups of people who want a wide selection of food options. However, you'll need to be willing to open a Pizza Hut, Taco Bell, Long John Silver's, Wingstreet or A&W restaurant too.
Consider owning multiple franchises on multiple sites. Yum Brands ideally looks for ambitious entrepreneurs who want to own at least three KFC franchises. Desire and ability to purchase more than one KFC franchise makes you more appealing to Yum Brands and also increases your long-term income potential. Yum Brands will work with you to build up your KFC business.
Plan to spend $1 million to $2 million on starting up your KFC and partner brand franchises. While the franchise fees of KFC is less than many fast service restaurants, you must provide the franchise fee for another Yum Brands franchise and supply equipment and overhead for the other franchise too. You will need to find a third-party lender for your initial investment.
Assess your finances to see if you meet the requirements KFC asks for. KFC requires franchise owners to have a net worth of $1 million and liquid assets of at least $360,000. You must have experience in food service or a partner with experience in food service.
Contact Yum Brands if you meet the qualifications and interested in pursuing a KFC franchise. Go to the Yum Brands franchising website and click on "Getting Started" to submit a questionnaire and contact information.
Wait about a month while Yum Brands assesses your qualifications to own a KFC and another multi-branded franchise. You must have a draft of an operating plan by the end of this time period, so begin working with accountants and business partners before you contact Yum Brands.
Continue the process with Yum Brands towards your KFC franchise. If you're approved, interviews will be set up with Yum Brands officials and Yum Brands can help you choose a site and a partner franchise for your KFC franchise. The entire approval and planning process will likely take about a year.
It's a good idea to contact a franchise attorney to help you work with Yum Brands. KFC is a good choice if you enjoy working closely with your parent corporation. Yum Brands will provide you with a franchise business coach to help you manage your KFC franchises. Take advantage of Yum University if you are chosen for KFC franchises. Yum University offers training for franchise managers to improve their business skills and operate a successful KFC franchise.
- It's a good idea to contact a franchise attorney to help you work with Yum Brands.
- KFC is a good choice if you enjoy working closely with your parent corporation. Yum Brands will provide you with a franchise business coach to help you manage your KFC franchises.
- Take advantage of Yum University if you are chosen for KFC franchises. Yum University offers training for franchise managers to improve their business skills and operate a successful KFC franchise.