Franchise businesses provide an excellent gateway to become an entrepreneur. With the company’s strategies, operations, and branding already in place, franchisees have a full-proof plan to follow. Buying a franchise can be a solid investment, but which ones prove to be the best?
Here is a carefully curated list of some of the best franchises to buy:
1. McDonald’s: This global fast-food chain undoubtedly tops the list. Recognized universally, McDonald’s boasts a well-established franchise model that has been refined over the years. Moreover, its global reach offers franchisees a measure of security, making it a solid investment. However, owning a McDonald’s outlet doesn’t come cheap. You’ll need a sizeable upfront investment, but if you can afford it, this is surely a top pick.
2. Dunkin’: Formerly Dunkin’ Donuts, this fast-food franchise specializes in coffee and baked goods. Dunkin’ offers two different types of franchise models: traditional and non-traditional, catering to a wide range of investors. Changed market requirements also mean that some Dunkin’ stores are relocating or downsizing, offering potentially more affordable opportunities.
3. 7-Eleven: 7-Eleven is the largest convenience store franchise in the world. One of the significant advantages of owning a 7-Eleven outlet is its turnkey investment opportunity. The company takes care of real estate, ongoing store maintenance, and employees’ payroll for stores they own, while franchisees simply pay for inventory and supplies.
4. Taco Bell: When it comes to fast-food chains with a focused menu, Taco Bell shines with its Mexican-inspired offerings. Its brand appeal among younger consumers, innovation in menu items, and steady financial performance make it an attractive option for potential franchisees.
5. The UPS Store: If you’re looking to invest outside the world of fast food, The UPS Store franchise is worth considering. Leveraging the brand strength of UPS, it provides a robust business model offering postal, business, and communication services. The UPS Store boasts 5000+ outlets in North America, providing lucrative opportunities for potential franchise owners.
6. Planet Fitness: As one of the largest fitness club franchises, Planet Fitness presents clients with a ‘judgment-free’ exercise zone. Notably, it’s a recession-resistant business, given that even during economic downtowns, people still prioritize their health. While the initial investment is substantial, the potential ROI can be high.
7. Sparkle Wash: Offering industrial, residential, and commercial power washing, Sparkle Wash is an affordable investment franchise for those looking for opportunities in service industries. It offers extensive training and support, and it operates in an industry projected to reach $1.9 billion by 2022.
8. Anytime Fitness: With over 4,000 gym locations worldwide, Anytime Fitness provides a business model that emphasizes convenience and affordability. Also, it offers extensive franchisee training along with ongoing support, solidifying it as an excellent choice, notably for first-time franchise buyers.
9. Great Clips: For those interested in a personal-care business, Great Clips is an industry titan worth considering. The company operates with a walk-in model, providing hair cuts and styling services without appointments.
10. Orangetheory Fitness: This fitness franchise offers heart-rate-based workouts mixing endurance, strength, and power elements for maximum calorie burn. Orangetheory’s innovative approach to fitness has captured the attention of health-conscious individuals worldwide.
In conclusion, the perfect franchise for you will depend on your investment capacity, experience level, and interests. The franchises listed above offer a variety of services within varying investment ranges, each presenting significant growth opportunities.