Profitability continues to be an elusive target for many businesses in the current U.S. economy — but not for food franchises, according to a new report by the Franchise Business Review.
Based on a survey of 4,000 franchisees representing 84 brands across the franchise food sector, the study showed that food franchises increased profitability by an average of 5.8 percent over the past year.
The top 40 franchises in the food franchise category include Firehouse Subs, Culver’s, Auntie Anne’s, Ground Round, East Coast Wings & Grill, Simple Simon’s Pizza, Hardee’s, Bruegger’s, Papa Murphy’s, Penn Station and other recognizable brands. These franchises fared even better than average, with reported profits that were at least 15 percent higher than the rest of the industry.