Best Restaurant Franchises: Top Mexican Restaurants of 2024

Worth nearly $90 billion in the U.S. alone in 2023 and steadily growing, the Mexican restaurant market is a strong environment for new businesses. In 2023, the market grew by nearly 2%, and trends over the past five years point toward the likelihood of continued growth.

Mexican restaurants can be a great opportunity for franchisees looking to either break into the industry or diversify their portfolios, given the wide range of models — including fast-food restaurants, quick-service restaurants (QSRs), full-service restaurants and fusion models. There are brands focused solely on one type of food —  like quesadillas or burritos — and brands focused in specific geographic areas, like California, the Southeast or Arizona.

In addition to the variety that exists in terms of geography and level of service, many Mexican restaurant franchises embrace a “build your own” model for at least some of their dishes. From Taco Bell’s Build Your Own Cravings Box to Moe’s bowls and burritos that are customized as the guest works their way down a line of proteins, vegetables, sauces and toppings, the industry is certainly embracing customization — something that is becoming increasingly important among consumers.

No matter your preferences, there is likely an opportunity for you in the Mexican restaurant space. Here are 15 of our favorites.

Taco Bell

• Initial Investment: Not publicly available, though the franchisor requires $2 million in liquidity and $5 million personal net worth.
• Unit Count: 8,200+

Taco Bell is one of the most well-known Mexican-inspired restaurant franchises, offering quick, convenient food nearly around the clock. In addition to offering service through lunch and dinner periods, as is expected, many locations are open for breakfast and late-night snacks with some locations closing as late as 2 a.m. While this model allows franchisees to capture a substantial market segment, owners also benefit from being under the Yum! Brands umbrella.

Qdoba

• Initial Investment: $252,800 - $1,307,000
• Unit Count: 750+

Qdoba is a fast-casual Mexican restaurant franchise with an especially flexible build-out model, offering a wide range of initial investment requirements and the ability to enter spaces between 500 and 2,500 square feet. The brand was previously a subsidiary of Jack in the Box, another wildly successful franchise brand, and is now owned by Butterfly Equity, an LA-based private equity firm that specializes in food. 

Moe’s Southwest Grill

• Initial Investment: $745,325 - $1,819,050
• Unit Count: 612

With 20 years of experience, Moe’s has built a strong presence in the Eastern U.S. and has begun growing throughout the Southwest. Despite its smaller presence, compared to similar non-franchised brands like Chipotle, Moe’s has maintained its status with consumers thanks to its fresh ingredients and customizable model. However, the brand recently began working to transform the entire system — something that Mark Monroe, a major franchisee with the brand, called “the best thing [he’s] ever seen in the business in this industry.”

Del Taco

• Initial Investment: $1,312,200 - $3,085,000
• Unit Count: 590+

Del Taco is a clear favorite. It has seen nine consecutive years of same-store sales growth and was voted Best Fast Food Taco by Thrillist, demonstrating just how much passionate Del Taco fans love the brand. In addition to its strong brand name, Del Taco has launched a flexible build-out model that supports franchisees in providing an even better guest experience, including third-party pickup stations, double drive-thru lanes and designated lanes for mobile orders and delivery pickups.

El Pollo Loco

• Initial Investment: Not publicly available, though El Pollo Loco is currently looking to work with franchisees who have $900,000 in liquidity, $2 million net worth and a desire to open at least three El Pollo Loco locations.
• Unit Count: 494

El Pollo Loco cooks up “famous, fire-grilled chicken” that, for the top 25% of franchised restaurants, rakes in an average of $3.2 million per year. As it grows, El Pollo Loco is specifically looking to partner with franchisees who already own or operate five or more quick-service or fast-casual restaurants and are looking to open at least three El Pollo Loco locations.

Taco John’s

• Initial Investment: Not publicly available, though Taco John’s requires $500,000 in liquidity and $1 million net worth.
• Unit Count: 360+

Taco John’s, which originated the idea of “Taco Tuesday,” started as a single taco stand in 1968 and has since grown to occupy 23 states across the country. After 50 years, the brand celebrates its history of innovation and its strong financial performance — $1.8 million in average annual revenue among top-performing locations — and its plans for a future that is “bigger. bolder. better.”

Taco Time

• Initial Investment: $331,150 - $762,800
• Unit Count: 300+

Taco Time has an incredibly wide reach, including restaurants across North America and internationally. While Taco Time offers many of the same menu items as other Mexican restaurant franchises and a familiar fast-food operating model, its initial investment can be much lower than  the $1 million-plus required to open some other big-name brands.

Quesada Burritos & Tacos

• Initial Investment: Not publicly available.
• Unit Count: 211

Quesada has been recognized several times by Canadian Franchisee Association and Entrepreneur Magazine. Though it is currently only operating in Canada, Quesada Burritos & Tacos has multiple restaurants close to the U.S. border, and it has noted plans for aggressive growth, so U.S. expansion could potentially be in the brand’s future.

Taco Bueno

• Initial Investment: Not publicly available.
• Unit Count: 180+

Taco Bueno notes it is a “the bueno choice” because it offers a simple operational model backed by 50 years of experience, robust franchisee support and fresh, craveable food options for guests. Most notably, Taco Bueno positions itself as offering restaurant-quality foods at quick-service prices. In a market where consumers are looking for both value and quality, this is an important differentiator.

Mucho Burrito

• Initial Investment: $425,000 - $815,500
• Unit Count: 150+

Mucho Burrito proves that burritos can be gourmet, but it also recognizes that burritos are not the only viable Mexican-inspired menu option. With build-your-own bowls and burritos, quesadillas, tacos, sides and desserts, the brand offers an elevated version of many Mexican favorites. Mucho Burrito has established an expansive network of franchises in Canada, and it is now working to break into the United States.

On the Border

• Initial Investment: Not publicly available.
• Unit Count: 150

With locations in multiple major markets across the U.S., including some in hotels and airports, and restaurants in South Korea, On the Border has proven its strength in a range of markets and models. In its category, On the Border generally stands out thanks to its model and service level. While it is still accessible to the general public, there is a stark difference between fast-food — and even fast-casual — restaurants and the On the Border model.

Fuzzy’s Taco Shop

• Initial Investment: $489,900 - $1,614,600
• Unit Count: 130+

Founded in Texas in 2003, Fuzzy’s Taco Shop aims to “make tacos badass” by focusing on a community feel, fresh ingredients and flavorful dishes. While food flavor and quality always come first with Fuzzy’s, the restaurant atmosphere celebrates and is shaped by the people in it — both team members and guests alike.

Taco Casa

• Initial Investment: Not publicly available.
• Unit Count: 102

Taco Casa has over 50 years of industry experience. While the brand has an incredibly strong presence in Texas, it has also begun growing in other states. Taco Casa has a relatively streamlined menu, focusing on tacos, nachos, tostadas and burritos. Other items, like its chili burger, beans, chilada and salad, diversify the menu to cater to more adventurous diners as well.

Bubbakoo’s Burritos

• Initial Investment: $331,000 - $700,000
• Unit Count: 100+

Bubbakoo’s Burritos is a Mexican fusion restaurant with burritos, quesadillas, tacos, bowls and more novel items like fancy fries, small bites, saucy bites, kids bites and even “inflation buster” deals to appeal to a wide range of guests. Founded in 2008, the brand clearly knows how to grow through tough times, and it’s now looking to expand in the Northeast and Southeast while also building scale in established markets.

Costa Vida

• Initial Investment: Not publicly available.
• Unit Count: 95

Costa Vida is a Mexican grill restaurant with fresh ingredients and unique flavors. Because of its chef-inspired menu items and quick, fresh-off-the-grill service, the brand has a high perceived value among guests. This allows franchisees to capture even higher margins. While Costa Vida does not directly publish investment information, Entrepreneur reports an initial investment range starting at $659,500. For franchisees who can stay on the lower end of the investment, high margins can lead to a quick return on investment.

Investing in a franchise in the Mexican restaurant industry is an attractive opportunity in 2024. While Mexican cuisine is somewhat novel to many diners, it is both approachable and versatile, and it has become a favorite for many people nationwide. Consider joining the over 47,000 successful businesses in the segment with an investment in a Mexican restaurant franchise this year.

Every great franchisee had help buying a franchise. Want to learn more about how 1851 helps franchisees find the right franchise opportunity? Visit www.1851growthclub.com and start your journey.