A folded resonant Fabry-Perot cavity has the potential to significantly reduce the impact of coating thermal noise on the performance of kilometer scale gravitational wave detectors. When constructed using only spherical mirror surfaces it is possible to utilize the extremely robust $TEM_{00}$ mode optical mode. In this paper we investigate the potential thermal noise improvements that can be achieved for third generation gravitational wave detectors using realistic constraints. Comparing the previously proposed beam configurations such as e.g. higher order Laguerre-Gauss modes, we find that similar or better thermal noise improvement factors can be achieved, while avoiding degeneracy issues associated with those beams.
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