One of best business opportunities is in franchising. The brand carries a lot of weight and brings in loyal customers due to brand recall.
When choosing a franchise opportunity, you would need the help of a franchise business advisor. These professionals will study your available resources and create a plan for your business.
Top Franchise Opportunities
You can choose the best franchise opportunities depending on your finances. With the help of a business advisor, you can narrow down your choices based on your preferences, location, and the target market.
Here are some of your top options:
- McDonald’s. This is the biggest hamburger chain in the world. It has around 30,000 franchises across the globe. The estimated costs of starting your own store is between $1 million and $2.3 million.
- Subway. This is the largest food/restaurant franchise in the world. It has relatively cheap up-front franchise startup cost of $116,600 to $263,200.
- Marriott International. The Marriott chain has full-service hotels for business and leisure travelers. They are represented all over the world. There are about 6,000 units around the world. The franchise contract lasts for 20 years and the initial investment is up to $64 million.
- Dunkin Donuts. Everyone loves donuts. Dunkin Donuts can be found anywhere in the world, with more than 11,310 outlets and counting. The cost of putting up a Dunkin Donuts ranges from $216,000 to $1.5 million.
- Domino’s Pizza. Domino’s is almost strictly a pizza delivery service, with small store fronts. It has more than 13,800 operating branches. The initial investment for a traditional store costs around $141,650 to $542,000.
- Taco Bell. There are more than 5,100 Taco Bell shops in the world. The initial investment ranges from $1.2 million to $2.6 million.
- Ace Hardware. This hardware store has many branches in at least seven countries. In fact, there are more than 4,800 stores worldwide. The cost to open a franchise ranges from $750,000 to $1.3 million.
- 7-Eleven. One of the biggest franchise businesses in the world, there are more than 53,000 7-Eleven stores worldwide and the number keeps increasing. The cost to open a franchise store is from $37,200 to $1.6 million.
There are other franchises that offer different opportunities to investors. Choose the one that suits your budget and preferences. A business advisor can help you decide.