Situated by the Mississippi River Memphis is a major metropolis in Tennessee. It has a population of around 633,104, making it the second-largest city in the state. Memphis is known for its rich musical history, and is home to numerous musical institutions, including the Stax Museum of American Soul Music and Sun Studio.
Memphis Franchise Market Overview
The city features a mix of urban and rural areas and has a relatively low cost of living compared to other major cities in the country. Memphis is not only the home of the blues and barbecue, but it’s also a great location to open a fast-casual restaurant franchise. As one of the fastest growing cities in the country, Memphis is experiencing explosive growth in its economy as more companies are relocating to the area.
The opportunities for franchise ownership in Memphis are endless. Before you buy a franchise, what do you need to know: Is franchising right for you? How much money do you need to start a franchise? How much does a franchise cost?
Fransmart, the leading franchise development company, helps entrepreneurs understand how to become franchise owners, how franchises work, the franchise fee, liquid capital, and many more basics about franchising.
With our 20 years of expertise in creating a successful franchising model, we are fully aware of the disadvantages and advantages a particular franchise offers to its franchisees. Based on our decades of experience, we have curated the list of top franchise opportunities on sale in Memphis, TN.
5 Best Franchise Opportunities in Memphis, TN
Franchising has been around for generations and for a good reason. It’s a great way to start a business without having to worry about the majority of the heavy lifting, as long as you find the right franchise opportunity. If you want to start a franchise in Memphis, these are the top emerging franchises, selected for their ability to help franchisees get wealthy by getting in early.
Jon Taffer, the “Bar Rescue” star and hospitality expert, started Taffer’s Tavern franchise to solve the many inefficiency issues of the restaurant industry. This restaurant franchise has intelligent operations, an innovative kitchen, an upscale gastropub menu, and an eye-catching ambiance.
Advantages of becoming a Taffer’s Tavern franchise owner:
- The most significant advantage of the Taffer’s Tavern franchise is its high profitability that is achieved through reduced costs by incorporating simplified cooking techniques and minimum food preparation time.
- Its robotic kitchen, sous vide cooking, and data-driven decision-making make Taffer’s Tavern the most innovative and efficiently run franchise in decades.
- Liquor sales are significantly higher in Taffer’s Tavern giving franchisees more profits than a typical casual restaurant.
To get a deeper look into the Taffer’s Tavern franchise opportunity in Memphis, TN, click here to see the FDD.
- Initial investment for the franchise: $1,183,000 to $2,203,000
- Franchise fee: $50,000
- Total Income from the franchise: Click here to know how much Taffers Tavern franchise owners can make
Named in the “America’s Hottest Startup Fast Casuals” list for 2021, Rise was the first to go all in on technology, with contactless kiosk ordering and food lockers. The result is that franchise owners of Rise enjoy high profitability and sales, along with a human-centric culture.
Advantages of becoming a Rise franchise owner:
- Rise runs on a proven automated business model with contactless kiosk ordering and food locker technology that makes business seamless and safe for employees and customers.
- Rise’s technology lets franchisees enjoy lower operational costs and strong revenue.
- Rise’s small footprints make them ideal for conversions, lowering start-up costs.
- The team assists franchisees from start to finish, including site selection, store build-out and construction, training and operational support, vendor and equipment selection, marketing, and more. Training and support are available pre and post-opening, both on-site and online.
- Rise locations operate from 7:00 am to 2:00 pm, giving franchise owners work-life balance.
To get a deeper look into the Rise franchise opportunity in Memphis, TN, click here to get access to the FDD.
- Initial investment for the franchise: $420,500 – $598,500
- Franchise fee: $35,000
- Total Income from the franchise: Click here to know how much Rise franchise owners can make
Brooklyn Dumpling Shop
Brooklyn Dumpling Shop, the nation’s fastest-growing dumpling automat concept, is attracting aspiring franchise buyers from all 50 states. It has already made QSR’s The 40/40 List for 2021: America’s Hottest Startup Fast Casuals.
Advantages of becoming a Brooklyn Dumpling Shop franchise owner:
- Brooklyn Dumpling shop uses automated kiosks to serve hot and fresh dumplings on request 24-hours a day which means you are efficiently in business around the clock.
- Its unique automat concept is revolutionary in the food industry. It provides a contactless method of ordering and delivery that is perfect for the post-pandemic period.
- The availability of frozen Brooklyn Dumpling Shop dumplings in nationwide stores has made the dumplings very popular.
- It sells custom-to-go drink packs, which means you benefit from liquor sales.
To get a deeper look into the Brooklyn Dumpling Shop franchise opportunity in Memphis, TN, click here to get access to the FDD.
- Initial investment for the franchise: $348,500 – $663,000
- Franchise fee: $40,000
- Total Income from the franchise: Click here to know how much Brooklyn Dumpling Shop franchise owners can make.
The Halal Guys
The fastest-growing Middle Eastern restaurant chain in the U.S. and abroad, serving Halal falafel platters, gyros, and chicken.
Advantages of becoming a Halal Guys franchise owner:
- Be a part of the fastest growing Halal restaurant chain in the world
- The franchisors provide real estate, project management & full supply line support, plus training & operational support for franchisees, managers & employees.
- New franchise owners enjoy instant brand recognition among customers and regular footfall that ensures sustainability.
- Initial investment for the franchise: $315,600 – $926,500
- Franchise fee: $65,000
- Total Income from the franchise: Click here to know how much The Halal Guys franchise owners can make.
To get a deeper look into The Halal Guys franchise opportunity in Memphis, TN, click here to get access to the FDD.
Ike’s Love and Sandwiches
With over 100 stores in two years, Ike’s is the fastest growing sandwich concept in America.
Advantages of becoming a Halal Guys franchise owner:
- Celebrity fan base including Halsey, Marshawn Lynch, Steph Curry, Andre Ward, G-Eazy.
- Perfect for low-cost conversions
- Strong Item 19 in the FDD
- Focus on quality ingredients and known for special items like Dutch crunch bread and Ike’s Dirty Sauce.
- Vegan, vegetarian, Halal, gluten-free and carnivores options makes Ike’s appealing to nearly all customers.
To get a deeper look into Ike’s franchise opportunity in Memphis, TN, click here to get access to the FDD.
- Initial investment for the franchise: $271,400 to $745,500
- Franchise fee: $50,000
- Total Income from the franchise: Click here to know how much Ike’s franchise owners can make.
Investing in a franchise can be an excellent opportunity to make money if you invest in the right concept. Before making any final decision, make sure that you have all the information and guidance.
Using an experienced franchise consultant like Fransmart can help you save money in the long run. Fransmart has over two decades of experience with emerging brands. In fact we were the team that brought Five Guys and The Halal Guys into franchising. Fransmart only works with the hottest emerging brands to ensure that entrepreneurs have the best opportunity for success and profits. Contact us today to get started on your franchising journey.
Starting up a franchise requires a great deal of investment. There are several factors to consider when buying a franchise. This includes the target audience, the availability, and demand of such services, the franchise’s location, etc. Let Fransmart help you choose the right franchise option in Memphis, the ideal location, and a winning strategy. Let’s make success together happen. Get in touch with us today.
Frequently Asked Question (FAQs)
Q. How much money do you need to start a franchise in Memphis?
There are a lot of different factors that go into determining the cost of opening a franchise, including your location and the size of your store. A typical franchise can require anywhere from $300,000 to $1,000,000 in startup capital. Read the complete guide on franchise opportunities to know more in detail.
Q. How do I start my franchise?
Follow the simple 10 step process to start a franchise.
Q. What franchise can you buy for $20000?
Read the complete guide on franchise opportunities to know more in detail.
Q. How to open a franchise with no money?
Franchising is an excellent option for anyone who wants to start a business but doesn’t have the time or without money to do it. We have a list of Franchises known for their consistency, high success rate, and growth opportunities.
Q. What are the legal requirements to start a franchise?
The four critical legal requirements to start a franchise are Confidentiality Agreement, Franchise Agreement, Financial Plan, and Operations Manual.
The main point of the Confidentiality Agreement is to ensure that you don’t share sensitive information about the franchise with your competitors.
Q. What are the best franchises to own?
We have curated the list of top franchise opportunities on sale in Memphis, TN.
Q. I need a Local mentor to open a franchise in Memphis, Tennessee. Whom to contact?
Fransmart, the leading franchise development company for emerging brands, helps entrepreneurs understand how to become franchise owners, how franchises work, the franchise fee, liquid capital, and many more basics about franchising.