The ownership of a franchise comes with a variety of advantages. While operating your own company, you have the opportunity to profit from the well-known brand owned by the franchisor.
Franchises that are likely to generate the most revenue almost never go bankrupt. This eliminates the typical dangers that are associated with launching a brand-new company.
Let’s take a look at what a franchise is, how to analyse a business opportunity, and which businesses make the most sense to own as a franchise at this time of year.
This post will walk you through some of the most lucrative franchise opportunities, and the best franchises to own for the year 2022. A robust corporate and administrative structure, as well as assistance with marketing, sales, and production, are all features that are offered by franchises.
The vast majority, if not all, of the products displayed on this page, are provided by our business partners, who compensate us for doing so. This may have an impact on the topics that we write about as well as where and how a product is displayed on a page. However, this does not alter the way that we evaluate them. We come up with our own concepts. Here is a rundown of the businesses that we collaborate with and the ways in which we generate revenue.
If you are interested in launching a new company but do not want to put in the effort required to develop your own unique brand image and identity, an opportunity to purchase a franchise could be the most suitable route for you to take.
At times, finding the best franchises to own can be a daunting task for certain individuals. In point of fact, it is not always easy to locate the most profitable franchise to buy. Because of this, we investigated a large number of available franchise company opportunities and selected a number of the most successful businesses available for purchase in a variety of industries.
Although the costs and requirements of various franchises vary, you should be able to find one that piques your interest and is compatible with the kind of business you intend to establish. Because there are so many different franchises out there, it might be challenging to choose the best franchise to buy from the crowd.
It is important to keep in mind that the costs and fees that are stated here are either averages or estimations as we go through each of these companies. They will vary depending on when you ask, so it is important that you get in touch with each one to obtain the most recent information possible.
In addition to having a powerful brand name, Dunkin’, which was formerly known as Dunkin’ Donuts, boasts prices that are lower than those at McDonald’s.
The amount of the investment can range anywhere from $440,500 to $1,760,200.
Liquid cash requirement: $130,000 to $290,000
The recurring royalty charge is set at 6.4% of the total sales.
2. McDonald’s Restaurants, Inc.
This is a name that you should be familiar with, right? If you are able to operate a McDonald’s franchise in a bustling region that has little to no competition, you may be able to make your initial investment back in a short amount of time.
The amount of the investment can range anywhere from $1,300,000 to $2,500,000.
Liquid cash requirement: $600,000
The recurring royalty fee is 4 per cent of the total sales.
3. Planet Fitness
Planet Fitness stands out from other gyms due to its purple and yellow logo, affordable membership costs, and overall mission to make all customers feel welcome, regardless of whether or not they have prior experience using a gym.
Opening a gym is notoriously difficult. This indicates that these gyms are able to maintain high retention rates because they provide inexpensive costs, which in turn attract a large number of new members.
When first getting started, the initial investment might run anywhere from $1,184,600 to $4,280,000.
Liquid cash requirement: $1.5 million
The recurring royalty fee is 7 per cent of the total.
The American fast-food chain Sonic is easy to spot because of the one-of-a-kind soft drinks they provide and the drive-in manner of customer care they provide. There are Sonic restaurants in 47 of the 50 states, and the company provides a robust franchise potential.
The amount of the investment can range anywhere from $1,312,800 to $3,766,300.
Liquid cash requirement: $600,000 to $1 million
The recurring royalty charge ranges from 2.5 per cent to 5 per cent of gross revenue.
5. Anytime Fitness
Anytime Fitness is currently one of the fitness businesses that is experiencing the greatest amount of success. This fitness centre business offers group workouts as well as individual training equipment for customers who like to exercise on their own time.
The best part is that people who are members of the franchise can use a keycard to get into the fitness centre even when it is closed, allowing them to exercise whenever they like.
Initial investments can range anywhere from $11,500 to $822,800 in total value.
Liquid cash requirement: $200,000.
The recurring royalty fee is seven point five per cent.
6. Toru Kumon
In Osaka, Japan, Toru Kumon developed a curriculum that would later serve as the foundation for the Kumon Method, which is a teaching strategy that assists children in becoming more proficient in reading and mathematics.
These days, Kumon Math and Reading Centers teach kids essential reading and arithmetic skills that set them up for success later on in their schooling when they encounter more difficult concepts.
The amount of the investment can range anywhere from $76,373 to $194,825
Liquid cash requirement: $99,000
The initial franchise fee is a thousand dollars.
7. Ace Hardware (American)
Big-box home improvement stores typically have unfriendly staff members and an overwhelming selection of products to pick from. However, Ace Hardware is the antithesis of this type of business model, making it an excellent choice for a franchise opportunity.
The amount of the investment can range anywhere from $316.00 to $2.710.230.
Liquid cash requirement: $250,000
A payment of $5,000 is required to initiate the franchising process.
How to budget for the purchase of your franchise.
As you consider the best franchises to own in 2022, you should give some thought to the means by which you will cover the associated costs of doing so.
Your investment will be contingent on a variety of factors, but the two most crucial ones are the costs that have been established by the parent firm to get the business up and operating, as well as the costs that are associated with conducting business in the region (in other words, some markets are more expensive than others).
Make sure that you give some thought to how you will pay for your franchise and where the money will come from. Many owners of businesses decide to take out loans for their companies, whether they be Small Business Administration (SBA) loans, business lines of credit, term loans, or equipment financing. Investigate several franchise financing options first.