We’ve all been a part of franchises at one time or another. We might buy food from a recognizable restaurant brand, wear clothes from a brand, or only buy from certain stores. It doesn’t matter if we support Dunkin Donuts, Mcdonalds, or Nike, franchises are a part of the world and we are a part of them.
However, have you ever thought of buying one? Owning a franchise is a lot of work, but you gain benefits twofold. First, you get a recognizable brand that you will be able to profit from, taking on the benefits of their reputation. Second, you can run your own operation under the flag of the company. Plus, it also removes most of the risks of starting your own business, as most of these businesses rarely fail.
However, not every single franchise is the perfect fit. You need to figure out what type of franchise business you want to work with, and also the support system during the evaluation phase of the franchise. Here are some of the things to look for, and various good opportunities for each industry.
What To Look For In An Evaluation
First, no matter what franchise you look for, there will be some type of upfront fee. This can be anywhere from a few hundred dollars for a smaller business to hundreds of thousands of dollars for very large companies. Some franchises have you pay out of pocket and others have a financing plan, so make sure to have something for an investment upfront.
You also need to look at the profitability of business investment with the franchise, because it needs to be worth the investment. You can take a look at unit growth and how many locations have been opened up, how many of those new units are still operating after one year, and any financial statements.
Finally, you need to figure out the time commitment for owning a business, because the minimum franchise term for most places is about 20 years. Make sure you can stick around for the franchise term and then focus on how to sell the franchise.
Picking A Business Category
Finally, you need to own a franchise in something that matters to you. This can include categories like food, retail, printing and packing, and cosmetic franchising. Finding a franchise in a field that you like will make sure that you stick around. Plus, it will make you want to keep coming into work each day while running your own business.
Some Of The Best Opportunities Per Category
The Hair Salon Franchise
First up, if you’ve got a passion for hair, then the franchise Sports Clips is one of the best ways to get into it. Sports Clips is one of the premier places to get a haircut for men, and it’s got a lot of stability. There’s a very high continuity rate for you, and after 5 years, over 95% of them have remained open.
This franchise focuses on low startup costs, a robust support system for new franchisees, and that way that all of their stores are monitored. The initial investment for a Sports Clips is around $224,800 to $373,300 while financing is available.
The Food Franchise
Zac’s Hamburgers is offering a deep and comprehensive fast food franchise opportunity for those who want to get into it. The franchise is growing fast and still remains casual for newcomers. The team at Zac’s focuses on having a sustainable business model, an all-inclusive franchise model, and gives you access to several streams of revenue.
Zac’s is a place that has unlimited growth, and you can easily become a part of Zac’s hamburger’s family without jumping through too many hoops. If you love hamburgers, wings, and fries, this is the best franchise to be a part of.
Vehicle Maintenance Franchise
This is another cheap type of franchise to get into because everyone’s vehicles are going to break down and need some level of repairs. The best investment opportunity is Superglass Windshield Repair, and it’s been around for 30 years. The overhead costs of the company are reduced quite a bit because everything is mobile, so neither they nor you need any type of physical location to work the job.
You can also have classroom and on-the-job training, despite the lack of a physical storefront, and you will be trained all the way. The initial investment might come out to be less than 9,500 dollars if you time it right!
You will know all you need before you ever step foot into owning your own franchise, the costs are cheap, and the work is always going to be in season for you. That’s a good trifecta for any new business owner, and you can take advantage of it!
The Group Fitness Franchise
Of course one of the best things to invest in has to be Jazzercise. Combining dancing and jazz and exercise, you will be able to find people who want to get into all three. This franchise has longevity, fun, and is very cheap to invest in. You have several price points to think about as you become an instructor, and the investment can be as low as $2,500. Plus the annual fees for music are pretty low too.
Additionally, most franchises send you music, exercise routines, and new moves to keep both yourself and your new audience happy. There’s a lot of advantages for having a group fitness franchise, and there’s a lot of joy for teaching.
Investing Into Your Next Franchise
Once you pick a franchise and secure investment, you can get started on acting as a franchisee. There’s a lot of adventure and pride in having a franchise, especially if you are a part of something you enjoy. Make sure to look around, do some research, and find the best opportunities for your field. Then you can become a franchise owner, and will get all the benefits that come with it.
Zac's Burgers is presently not selling franchises and does not have a certified franchise disclosure document. Zac's is offering licensing opportunities, however, potential licensees must meet all federal and state requirements.