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Owning a franchise is a great way to start a business. Franchises offer a lot of opportunities, such as lower start-up costs, economies of scale, and access to marketing and support. You can also customize your franchise to fit your own business goals.
Here are some best franchises that are worth to own:
Papa John’s
Papa John’s has become a franchised company (a fast food chain) from the 1980s. Look into purchasing a Papa John’s franchise if you’re a pizza fan who wants to own this franchise unit.
Papa John’s is currently looking for franchisees who want to operate in minimum 5 locations. The cost of the opening store is between $130,120 and $844,420.
- Initial Investment: One-time fee of $25,000.
- Fees: 5% of each month’s net sales are used to pay royalty charges.
- Wealth requirement: $500,000 in gross assets or $250,000 in liquid assets.
- More than 5,000
McDonald’s
McDonald’s has been a leader in the fast food industry for many years. It has recorded more than $93 billion in revenues for the year 2020. The excellent reputation that McDonald’s franchises have built gives them the opportunity to be one of the best to open.
- Initial Investment: $1.40 – $2.50 million, with a minimum franchise fee of $45,000.
- Fees: 4% of royalty fee and 4% more of advertisement royalty fee
- Wealth requirement: $100,000 cash
- More than 40,000
Chick-fil-A
Is it ever quiet at Chick-fil-A? Since its opening in 1967, Chick-fil-A has impressed diners with its great food and great customer service.
It could take 1-2 years to apply for a Chick-fil-A franchise. It is a competitive, rigorous process that takes time. There are several different types of applications and each has been selected through a competitive process that includes multiple online and in- person interviews. It is geared toward serious, hands- on business owners who value honesty.
- Initial Investment: $582,000-$2.25 million, with franchise fee of $10,000
- Fees: 15% of royalty fee, 50% more of pretax profits
- Wealth requirement: Specific figures are not listed, though a solid history of financial stewardship is required
- Locations: More than 2,000
7-Eleven
Originally started in 1922, this chain of convenience stores has become one of the best franchises to buy. Company provides upto 65% of the franchise fee to qualified buyers. Virtual seminar opportunities are available for those who are thinking about buying a 7-Eleven franchise.
Opportunities exist to build a store in a vacant building or to operate a store that you lease from a parent company. Multi-franchisor investments can be made, as one-third of franchisees operate this way.
- Initial Investment: $70,000-$1.2 million, with franchise fee of $0-$1 million
- Fees: Royalty fee varies; 1% of ad royalty fee
- Wealth requirement: $50,000-$250,000 cash
- Total locations: More than 77,000
Taco Bell
Taco Bell opened its doors in 1952, and is now owned by Yum!
Yum! Brands owns the Taco Bell fast-food chain, along with other well-known brands like Pizza Hut and KFC. Taco Bell ranked No. 9. On Entrepreneur’s list of the franchises that are most desirable in 2022 it came in at #47.
- Initial Investment: $575,600-$3,370,000, with franchise fee of $25,000-$45,000
- Fees: 5% of royalty fee, with 4.25% of ad royalty fee
- Wealth requirements: $1.5 million net worth; cash requirement of $750,000
- Locations: More than 7,500 (US)
Kumon
Kumon, a center for children ages 3 and up, teaches them basic math skills and reads to them. Kumon was founded by Toru Kumon, a Japanese educator, in July 1958. It helps kids understand key concepts in a simple way — by doing short, easy assignments.
Those who are serious about starting one are offered incentives of up to $36,400 to cover the costs of buying equipment for their centers.
- Initial Investment: $67,428-$145,640, with franchise fee is $2,000
- Fees: Royalty fee of $34-$38 per student per month
- Wealth requirements: $70,000 in liquid capital and $150,000 net worth
- Locations: More than 26,000
Senior Care Authority
Senior Care Authority (SCA) is a franchisee-owned chain that provides elderly day care and other services. AARP ranks it among the best franchises that you can buy when you’re 50 or older.
The firm offers help to anyone who needs help deciding whether to live in a home for elderly people or if they should be sent to a nursing home or if they want to continue to live in a home for people to live independently.
- Initial Investment: $71,095-$90,395, with franchise fee of $52,500
- Fees: Not listed
- Wealth requirements: $50,000 in liquid capital and $150,000 in net worth
- Total locations: More than 70
Orangetheory Fitness
Orangetheory Fitness studio chains are spread across the U.S. and boast more than 500,000 members across the globe. This studio aims to give members a one-hour workout that focuses on endurance, strength and power.
- Initial Investment: $575,000-$1.5 million, with franchise fee $60,000
- Fees: 8% of ongoing royalty fee
- Wealth Requirements: $500,000 in net worth; liquid cash requirement of $150,000
- Locations: More than 1,400 franchises is 27 countries
RE/MAX
If you’d like to buy something in real time, you should invest in a company like RE/MAX, which has been in business since the 1970s. Real agents receive a high commission from buying and selling homes.
They own the business themselves. The brands are present in 110 countries and employ over 140,000 agents.
- Initial Investment: $33,000-$236,500, with franchise fee of $17,500-$37,500
- Fees: Monthly fees are reportedly $138 per sales associate, with a franchise fee of 1% gross commissions and revenue and technology fee of up to $15 per sales associate; additional fees, such as marketing fees, annual dues and renewals also apply
- Wealth Requirements: $35,000 in cash
- Total locations: 9,000
Jan-Pro Cleaning & Disinfecting
Jan-Pro is a fast growing franchise that lets you get long-standing and stable contracts for cleaning services. This includes cleaning businesses such as car dealerships, daycares, preschools, banks, government, retail, fitness centers, business offices, manufacturing facilities and more.
It takes a team sales professional at the HQ to find potential clients who will pay franchise fees to the franchisees. This means that you don’t have to worry about selling the franchise.
- Initial Investment: $1,250-$50,000
- Fees: 10% of royalty fee and 1% of ad fee
- Wealth requirements: $50,000 in liquid capital and $150,000 net worth
- Locations: More than 8,500
When you start looking at franchise business opportunities, you’ll quickly realize that there are plenty of great companies with strong brands and high-quality products and services available.
It’s very necessary that you remember that what is the best franchise opportunity for one person may not be the best opportunity for you.
When deciding whether to make a commitment to an opportunity or not, think carefully about how long you’re willing to commit to it and, most importantly, what you’re really excited about doing.
