Many people think of franchises as individually owned, mom-and-pop run businesses. On the contrary, many large corporate style operators with access to large quatities of capital have been in the business for a while. For example, I’ve heard a lot of about Lenny’s Sub Shop lately but haven’t been in one. The company started in 2001 and now has 63 franchises in the southeastern United States.
Lenny’s cost to open a store is claimed to be under $225,000, which includes all fees, build out costs and initial operating capital. The roaylty AND national marketing fees total 7%. Maybe worth a look.