If you’re interested in owning your own business, getting started can be daunting. Where do you begin? Do you have enough money to get the ball rolling? How do you manage your newly formed business?
But there’s a way to launch your own business without all of the concerns of entrepreneurship. You can own a franchise – or, operate your very own business as part of a larger, already successful company. And it could be the key to success.
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Owning a franchise is an excellent business opportunity for anyone who wants the freedom of their own business but needs support to get started. As a franchisee, you’ll enjoy the experience and guidance of a bigger company. But you’ll still own your very own business unit.
And franchising is growing. With nearly 800,000 franchise establishments currently up and running across America, there are 9 million people employed by franchises. If you’d like to dive into this business opportunity, there are plenty of advantages.
Franchises See Consistent Success
When you choose to open a franchise rather than a brand-new independent business, you’ll have success on your side – proven success.
Franchises have a lower failure rate than other new businesses. While a brand-new independent business has a 70 to 80 percent chance of failing in its first year, a franchise actually has an 80 percent chance of surviving and succeeding.
As a franchise owner, you’ll be buying a business model that’s proven to succeed in many different markets. The company is established, its operations and franchises are established, and its name is established with fans and customers.
Getting Started is Easy
One of the biggest obstacles new business owners face is capital. It’s tough to get enough capital to fund your business – you’ll need loans, hundreds of thousands of dollars in savings, and the ability to fund your company’s actions and decisions. And this can leave many new businesses in the red financially.
However, getting started with a franchise is much, much easier. You don’t need nearly as much capital or as big of an initial investment to open your franchise. And it can significantly reduce your debt.
Franchisees get a lot of help from their parent company. You’ll have help putting your business plan in motion, and you’ll be given all of the equipment, supplies, and training materials you need. And in some cases, you’ll even get ongoing training and help learning management and marketing strategies.
You Can Make Huge Profits
Once your franchise is up and running, you can turn your attention to your profits. Owning a franchise business can be incredibly profitable – and that can give you a fantastic financial return on your investment.
Even if a popular franchise opportunity, like McDonald’s or Tim Horton’s, comes with higher franchisee costs, you’ll see a great return on your investment. The bigger the franchise name, the more likely it is to generate big profits.
Additionally, unlike an independent business, a franchise comes with built-in brand recognition. Customers will know the national brand or company name. And this means you’ll essentially be making money by buying a business that has a built-in customer base.
The Best Franchise Opportunities
Interested in opening a franchise of your own? Choosing the right franchise is critical – and the following are some of the best options available.
One of the world’s most well-known fast food restaurants, McDonald’s offers franchise opportunities in just about every region. With a huge fanbase and substantial name recognition and popularity, you can open your very own McDonald’s location.
Franchise Fee: $45,000
Initial Investment: Between $1,008,000 and $2,214,080
The hottest coffee shop and breakfast food restaurant on America’s East Coast, Dunkin Donuts is a popular – and successful – franchise opportunity. With increasing growth worldwide, strong customer loyalty ratings, and excellent support and training for franchisees, Dunkin Donuts offers a promising opportunity.
Franchise Fee: Between $40,000 and $90,000 depending on location
Initial Investment: As low as $228,620 or as high as $1,691,200
If you’re looking for a franchise opportunity that has downright cheap franchise fees and an affordable initial investment, you won’t find anything better than Cruise Planners. This cruise planning company lets you set up a franchise from home, which cuts your costs and increases your earnings potential.
Franchise Fee: Between $495 and $10,495
Initial Investment: As low as $2,095
One of the most popular convenience stores in America and around the world is 7-Eleven. The chain has showed consistent growth, opening new locations and franchises at a rapid rate. And getting started is easy – the process is quick, efficient, and includes plenty of training.
Franchise Fee: Ranges from $10,000 to $1 million
Initial Investment: Between $37,550 and $1,149,900
Did you know Re/Max is actually a franchised business? Just like other Re/Max offices you’ve spotted in cities around the world, you can open your very own franchise location and serve your local community. With a strong, easily recognized brand and worldwide advertising, this franchise opportunity offers a different kind of approach beyond food.
Franchise Fee: From $15,000 to $32,000
Initial Investment: Between $37,000 and $225,000
Start Your Own Franchise Today
If you’ve been thinking about starting your own business, why not consider a franchise instead? Opening your own franchise gives you the experience, advice, and capital of a huge company – and that can help you see big success.
And a franchise can be an affordable way to begin a business. You can search for franchise opportunities that feature low franchise fees and a small initial investment. With so many different companies and big-name brands offering franchise opportunities, there’s a business available for you to learn, grow, and expand.