Macy’s is an American mid-to-high department stores chain, headquartered in Cincinnati, Ohio and New York. Macy’s operates more than 790 franchised stores and eSpot Zoom Shops in addition to New York flagship stores in United States. The average investment required to set up a Macy’s franchise is around $550,000. The parent company charges an initial franchise fee which is in between $10,000 and $15,000. The franchise owner has to pay a royalty fee that is 7% of annual revenues.