Owning a franchise is a great way for entrepreneurs to own and run businesses more simply than starting a new business. You’ll have an existing customer base making it easier to market your products than having to do rigorous and costly marketing for your product or service when starting a business from scratch. However, not all franchises are profitable, and you need to know how to identify one with a good return on investment (ROI) to be on the safe side. As an aspiring entrepreneur, you need to consider the industry category you would like to get into. For instance, if you’re targeting the quick service restaurants (QSR) industry, a renowned fast-food player like Jack in the Box Franchising offers a great QSR solution.
When choosing a profitable franchise, you’ll need to weigh various considerations before deciding. Some include evaluating your local demographic to ensure the franchise appeals to them and ensuring the franchise is reputable and has an effective support system for franchisees. With that in mind, you should know that successfully determining the right franchise to consider is subjective and will depend on your particular circumstances. Read on to know some of the most profitable and reputable franchises in various industry categories you might want to consider in 2022.
#1: Jack in the Box Franchising
If you’re looking to fulfill your dream of owning one of the most notable brands in the quick-service industry, then look no more. Jack in the Box Franchising has got you covered. They have been delivering some of the best burgers and a range of other fast-food categories. Their reputation and customer base have been built for close to 70 years now and have led to the development of about 2200 branches across the US. A franchisee is expected to pay a franchise fee of $50,000 and pass a background credit check to work with them. The total amount you’ll spend will primarily depend on factors such as the size and location of your franchise but will fall approximately between $1,500,000 – $2,500,000.
7-Eleven is a chain of convenience stores headquartered in Dallas and branches in several countries worldwide. The store has been seeing an ever-increasing growth over recent years. It was founded in 1927 and has grown steadily to approximately 80,000 branches in various locations. It’s easy to partner with them, and they have an internal program for financing franchisees by building and stocking their stores. To be a franchisee, you’ll need a minimum investment amount of at least $40,000, a franchise fee of $25,000, and an initial inventory downpayment of at least $20,000.
#3: Budget Blinds
Budget Blinds was founded in 1992 and is all about quality window coverings. Since they started franchising in 1994, their units have grown to nearly 1,400 and are still growing across the US and Canada. To get into the business, you’ll need an initial investment of between $125,580 – $192,900 and a franchise fee of $19,950. You’ll also be expected to pay monthly royalties of $300 – $2000.
#4: Dream Vacations
Ever thought of owning a travel agency? If yes, Dream Vacations should be one of your considerations. It’s a low-cost venture, and franchisees are expected to pay an initial franchise fee that could be as low as $500 depending on one’s experience level and an initial investment of at least $1,800. What’s more, with Dream Vacations, you’ll have the opportunity to work from home as the business doesn’t require a fixed location.
Supercuts is a widely recognized name when it comes to top salon franchises. It was started in 1979 and has since grown to 2,100 branches across the US, with an average growth rate of around 10%. Supercuts is great for potential franchisees looking for a low-cost and easy-to-operate franchise with huge returns. You’ll need about $200,000 to set sail with the franchise, $40,000 initial franchise fee, and at least $150,000 initial investment. Although supercuts don’t have a financing program for their franchisees, they can direct you to reputable third-party financiers.
Founded in 1991 and with nearly 300 units, Maidpro is a unique and top-notch player in the home cleaning industry. It’s a highly flexible franchise that gives a franchisee adequate time to spend with their family by allowing them to work on their terms. To get started in the business, you’ll need an initial investment of between $57,560 – $222,450 and a franchise fee of between $20,000 – $80,000.