Franchise Owners

A franchise owner contracts with a company to sell that company's products or services. After paying an initial fee and agreeing to pay the company a certain percentage of revenue, the franchise owner can use the company's name, logo, and guidance. McDonald's, Subway, and KFC are some of the top franchised companies that have locations all across the country. Franchises, however, are not limited to the fast food industry. Today, franchises are available in a wide variety of business areas including computer service, lawn care, real estate, and even hair salons. According to the International Franchise Association (IFA), franchises account for nearly 50 percent of all retail sales in the United States and these sales total more than $1.5 trillion a year.


Quick Facts
Duties Contract with a company (such as McDonald's) to sell that company's products or services; manage staff; sell products or services to customers
Alternate Title(s) None
Salary Range Below $25,000 to $100,000+
Employment Prospects Poor
Advancement Prospects Fair
Work Environment Primarily Indoors
Best Geographical Location(s) Opportunities are available throughout the country, but are best in large, metropolitan areas
Education and Training
  • High School Diploma
  • Some Postsecondary Training
Related School Subjects
  • Business
  • Economics
  • Mathematics
Experience Several years' business experience, especially in management
Skills
  • Business Management
  • Leadership
  • Organizational
Personality Traits
  • Enterprising
  • Hands On
  • Organized
Licensure/Certification Required
Special Requirements None
Career Ladder
  • Owner of Multiple Franchise Units
  • Experienced Franchise Owner
  • New Franchise Owner

Related Industries