If you are looking to run your own business but you don’t want to start from the ground up, then you should consider looking for the best franchises to invest in. Owning a franchise is a powerful way to build one’s wealth.
Of course, you’ll need to do a lot of research and figure out which company is going to best fit your skill set and interests. It is also worth pointing out that many franchisees become wealthy by owning multiple stores.
Thankfully, there are hundreds of franchises out there for you to choose from. And while that might seem overwhelming at first, we are here to help. So keep on reading and we will take you through the best franchises to invest in that you need to know about!
1. Dunkin’ Donuts
Dunkin’ Donuts, also known simply as Dunkin’, is a highly successful and profitable franchise. Thanks to the company’s customer loyalty and brand recognition, this is a franchise that doesn’t come with a lot of risks.
Dunkin’ stores that are franchised are almost completely owned by the franchisee. These locations sell coffee, muffins, donuts, bagels, sandwiches, and other beverages and food items.
Candidates need to have experience in retail or food service. They also need to understand store marketing and community involvement. A good franchisee will also need to show a strong understanding of the real estate development process.
Dunkin’ has an extremely developed support system for franchisees. The company will support you with a franchising executive as well as managers for operations, field marketing, training, construction, and development.
An owner can sell the franchise to a third party. And Dunkin will help you by listing the site address.
2. Denny’s
Denny’s provides franchisees with a lot of support and tools so that they can develop and operate successful restaurants. As a Denny’s franchisee, you will be given discounts on certain technology, an aggressive growth plan, and a lot of support.
Denny’s is an extremely aggressive franchisor. They are trying very hard to expand into new areas and rebrand themselves for a more modern world. They are able to do this by supporting franchisees from the very start of the process.
As a franchisee, Denny’s gives franchise owners its ingredients, equipment, layouts, building designs, trademarks, and specifications for their food products. They also provide inventory control methods and training.
You will also get to operate and own 100 percent of the restaurant.
Denny’s support includes supply chain, operations, and marketing support. You’ll also get brand manuals, management training, and help with finding real estate for your establishment.
If you want, you can sell your restaurant to a new franchisee. However, Denny’s will still need to approve the sale to make sure that the purchaser will be a good fit.
3. McDonald’s
McDonald’s has a market cap of around $100 billion, making it one of the most valuable restaurants in the world. When you franchise with McDonald’s, you gain corporate support, repeat customers, popularity, and brand recognition. Not to mention you get to take part in a franchise system that has been proven to work for decades.
McDonald’s is so popular that you can practically guarantee that you are going to make money off of your investment. You’ll also receive plenty of corporate guidance. Plus, McDonald’s has been working hard in recent years to help women and minority franchise owners.
With that said, McDonald’s also comes with a high franchise fee and there are no exclusive territories.
Almost all McDonald’s establishments are owned by people who franchise and are independent of the McDonald’s corporation. When you get a McDonald’s franchise, you will be able to run a McDonald’s at a specific location. You’ll also be able to use the McDonald’s System so that you can run the business.
A usual contract length is twenty years.
Unlike how it is with other franchises, you don’t need industry experience to be a McDonald’s franchisee. With that said, the company does prefer if you have experience with management, although it isn’t necessary.
If you franchise with McDonald’s, you will need to provide a forty percent down payment to buy a new restaurant. Or you will need to proivde a twenty percent down payment for purchasing a restaurant that already exists.
The funds that are used as a down payment can’t be borrowed and they must come from a personal source. This can include something like real estate equity, business equity, bonds, securities, or cash.
You also need to have at least $500,00 and will need to invest between one and two million dollars.
4. Window Medics
One of the cheapest businesses to buy is Window Medics. This company replaces windows. They don’t take royalty payments and give a lot of freedom to the franchise owners. The company also has very little competition which means that you can quickly and easily generate revenue.
The Importance of Knowing What Are the Best Franchises to Invest In
Hopefully, after reading the above article, you now have a better idea of what are the best franchises to invest in. As we can see, there are a variety of franchises out there.
Ultimately, you want to find out where your skills are best suited and then go with a franchise that fits those skills.
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