Franchise Reviews

Best Franchise Opportunities | Guide | Top Franchises to Open in America

by AdvisoryHQ Review Team
2020-08-07T13:06:29-04:00

Guide: Finding the Best Franchise Opportunities to Start in America

Many people dream of being their own boss and starting a business through franchise opportunities offered by established companies. Top franchises allow you to open a new business that already has name recognition, a built in customer base, and a pre-designed setup and operations.

 Buying a franchise can also be less risky than starting a brand-new business that is not yet proven and can save you years trying to build up a new brand, which is why many budding entrepreneurs seek out information on how to start a franchise when they are considering their options.

Finding the Best Franchise Opportunities to Start in America

Source: How to Start a Franchise

If you’ve decided owning a franchise might be something you’d like to do, you’ll naturally want to know what the best franchises out there offer, whether there are good low cost franchises, and what are the most profitable franchises.

We will take a look at several options in this article and give you plenty to consider, whether you are looking for the best franchises to own in the food industry, personal care industry, or one of the many others franchise opportunities available in multiple other markets.

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Best Franchise Opportunities—How to Start a Franchise

Before we get into listings of the best franchises to open and low-cost franchise opportunities, let’s take a look at the main steps and considerations involved in how to start a franchise.

By understanding the types of costs and responsibilities that you could be facing up front, you’ll know the details to look for when you’re comparing the best franchises for your new business start-up goals.

Research Before Buying a Franchise:

  • Perform a market analysis of your town to see what product/service might be lacking.
  • Review some sample business plans for franchise opportunities for ideas for your own plan.
  • Know your financial picture and what you can and cannot afford for start-up costs.
  • Check out potential loan or capital raising opportunities if needed for buying a franchise.
  • Ask friends, family, and colleagues what type of business they would like to see open near them.
  • Consider your overall investment, abilities, and goals that you have for hours that you work, fields of interest, and typical income you’d like to earn annually.
  • Talk to other franchise owners to get more details on the pros and cons of owning a franchise.

There are also a few resources out there you can use in your research for top franchises and owning a franchise that will give you an overall picture of what to expect and watch out for. These can be a great source of expert information that give you the pluses and minuses of buying a franchise.

Best Franchise Opportunities—Fees and Responsibilities

The initial start-up costs for owning a franchise may be your main consideration when looking for medium- or low-cost franchise opportunities, but there are often other fees you need to consider as well.

While the initial franchise opportunities buy-in costs can range from less than $10,000 to about $5,000,000, that is just the initial cost for one the best franchises. There are often other ongoing costs that need to be considered as well when you’re looking for the most profitable franchises to own.

Buying a Franchise Fees to Consider:

You’ll also need to understand all the responsibilities attached to your owning a franchise, such as sales volume expected, reporting requirements, purchase requirements from vendors, and any marketing expectations. Be sure to go over all the fine print in any franchise agreement before you sign.

Next we will take a look at the best franchises to consider this year, and we will break them down by low-cost franchise opportunities, medium-cost best franchises to open, and the most profitable franchises with a higher cost.

This overview should give you some excellent choices in each price range for finding the top franchises to consider for your new business.

Jazzercise - Best Franchise Opportunities

Source: Jazzercise Best Franchise Opportunities

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Low-Cost Franchises—Finding the Best Franchises for Less Money

You don’t have to be close to being a millionaire to consider the best franchises to own—there are plenty of great low-cost franchises out there that offer an excellent potential for success with lower up-front costs. These low-cost franchise opportunities give you the chance to start a business with one of the top franchises for much less initial capital needed up front.

We’ve reviewed both the Entrepreneur Magazine List of 2016 Top Low-Cost Franchises and the FitSmallBusiness.com List of Best Low-Cost Franchises to bring you a compiled list of the top 5 low cost franchise opportunities you can get into for $25,000 or less.

1. Chester’s Chicken: Chester’s Chicken was founded in 1952 and is based in Alabama. They currently have 1,073 U.S.-based franchises. They are ranked #64 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

2. Vanguard Cleaning Systems: Vanguard Cleaning systems was founded in 1984 and is based in California. They currently have 2,840 U.S.-based franchises. They are ranked #26 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

  • Minimum Initial Investment: $10,930
  • Vanguard Cleaning Systems Franchise Opportunities Page

3. Jazzercise Inc.: Jazzercise Inc. was founded in 1969 and is based in California. They currently have 7,041 U.S.-based franchises. They are ranked #80 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

4. Coffee News: Coffee News was founded in 1988 and is based in Maine. They currently have 507 U.S. based franchises. They are ranked #158 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

  • Minimum Initial Investment: $9,750
  • Coffee News Franchise Opportunities Page

5. Assist2Sell: Assist2Sell was founded in 1987 and is based in Nevada. They currently have 152 U.S. based franchises. They are ranked #443 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

Source: Baskin-Robbins Owning a Franchise

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Medium-Cost Top Franchises—Finding the Best Franchises

If you’re looking for one of the top franchises that has excellent name recognition and a good reputation but is still at a reasonably affordable price, then you may be ready to step up to one that is in the $30,000 to $150,000 price range for most profitable franchises.

These tend to be more well-known than the low-cost franchises, but not quite as expensive as some of the biggest brands, and all are considered some of the best franchises to open.

We’ve reviewed both the Entrepreneur Magazine List of 2016 Top Franchises and Franchising.com Mid-Range Top Franchises to bring you a compiled list of the top 5 medium-cost best franchise opportunities you can get into for $150,000 or less.

1. Merry Maids: Merry Maids was founded in 1979 and has become a well-known name in residential cleaning. They currently have 961 U.S.-based franchises. They are ranked #48 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

2. SuperCuts: SuperCuts was first founded in 1975 and is based in Minnesota. They currently have 1,575 U.S.-based franchises. They are ranked #3 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

3. Subway: Subway was founded in 1965 and is based in Connecticut. They currently have 26,880 U.S.-based franchises. They are ranked #5 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

4. 7-Eleven: 7-Eleven was founded in 1927 and is based in Texas. They currently have 8,355 U.S.-based franchises. They are ranked #7 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

5. Baskin-Robbins: Baskin-Robbins was founded in 1945 and is based in Massachusetts. They currently have 2,524 U.S.-based franchises. They are ranked #29 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

Dunkin’ Donuts - low cost franchises

Source: Dunkin’ Donuts Buying a Franchise

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Higher Cost Top Franchises—Most Profitable Franchises

If you have the money and have been dreaming of buying a franchise that is one of the biggest names and most well-proven, then there are plenty of the best franchise opportunities available for up to a million dollars or more.

Most of the best franchises to own in this price range have a well-proven track record and may possibly have limited territory availability due to their popularity.

In addition to Entrepreneur Magazine List of 2016 Top Franchises, we’ve also reviewed Forbes.com List of Best Franchises to Open to bring you a compiled list of the top 5 higher cost best franchise opportunities for up to $1,000,000 or more.

1. McDonald’s: McDonald’s was founded in 1955 and is based in Illinois. They currently have 12,978 U.S.-based franchises. They are ranked #6 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

2. Dunkin’ Donuts: Dunkin’ Donuts was founded in 1950 and is based in Massachusetts. They currently have 8,573 U.S.-based franchises. They are ranked #8 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

3. Hampton by Hilton: Hampton by Hilton was founded in 1983 and is based in Virginia. They currently have 2,007 U.S.-based franchises. They are ranked #2 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

4. Planet Fitness: Planet Fitness was founded in 1992 and is based in New Hampshire. They currently have 1,059 U.S.-based franchises. They are ranked #95 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

5. Ace Hardware: Ace Hardware was founded in 1924 and is based in Illinois. They currently have 4,228 U.S.-based franchises. They are ranked #14 on Entrepreneur Magazine’s Best Franchises 500 2016 list.

Best Franchises to Own—Top Franchises Recap

When you’ve learned how to start a franchise and are looking to become your own boss by buying one of the most profitable franchises you can find, it should be comforting to know that the choices for the best franchises to open are made to meet varying initial cost levels.

You can have less than $10,000 to spend on buying a franchise and still have the opportunity for one that is well-proven and will give you the chance to grow and achieve success.

Before you jump into buying either one of the low cost franchises or one of the higher cost ones, it’s prudent to do some research on your market so you know just which might be the most profitable franchises in your area and target those when you gather more information for your business plan.

If you research ahead of time to zero in on the top franchises that match both your interest and the community need, you can have the best chance of a successful start in a new career as your own boss.

We hope that our guide will be a useful tool for you, and maybe you’ve found that you can afford one of the best franchises to own that you may have previously thought was out of reach.

Owning a franchise can be a very rewarding experience and can jump start your dreams of owning your own business with a solid foundation of support behind you.

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