Financial experts say that investing in an existing business franchise is one of the best career moves you can make, precisely because franchises not only provide a tried and true management framework, but they can also deliver merchandising, marketing, and support services.
Many varieties of franchise opportunities exist. From construction and home repair hardware stores to fast food restaurants to the office cleaning franchise that makes your workplace spic and span. They not only offer you the opportunity to be your own boss, but they also have the potential to make you lots of money in the long-term. See here for more info: https://franchiseccs.com/about-compass-franchise-opportunities.cfm
According to a new business report, if you’re actively searching for a brand new business opportunity, but don’t want to invest a whole lot of time in developing your own brand identity and image, a franchise opportunity will likely suit your needs. With a corporate framework already in place including marketing and production services, you can use a franchise to fast track your way up the career ladder.
While this might sound easy, keep in mind that finding the right franchise opportunity can be a real challenge. Simply said, there are so many franchises out there, picking the right one that suits your career goals can be a little overwhelming.
However, here are some of the best franchise business opportunities that exist in 2022.
McDonald’s
McDonald’s just might be the quintessential franchise opportunity. And because of that, it is considered one of the most expensive franchises. But it also possesses the best brand recognition the world over.
Say the experts, if you can open a McDonald’s franchise in a “well-trafficked area” that doesn’t have a whole lot of competition, you might be able to recoup your initial investment relatively quickly.
Approximate Initial Investment: $1,300,000 to $2,000,000
Cash Requirement: $500,000
Ongoing Royalty Fee: 4 percent
Sonic
A sort of throwback to the American 1950s, Sonic is said to be a fast-food legend with “unmissable branding” that’s perpetuated by their drive-in style service along with their selection of unique soft drinks.
46 states currently have franchise opportunities due to a strong “cult following” for creative menu items like cherry limeade, along with staples like cheeseburger, fries, and onion rings.
Approximate Initial investment: $1,300,000 to $3,500,00
Cash requirement: $500,000 to $1 million
One-Time Franchise fee: $45,000
Ongoing royalty fee: 2.45percent to 5 percent
Dunkin’
For just a fraction of what it costs to acquire a McDonald’s or Sonic franchise, you can buy into a Dunkin’ business. Formerly known as Dunkin’ Donuts, this franchise has very strong name recognition.
When Dunkin’ first returned to Southern California, customers were said to begin lining up for fresh donuts and coffee at 5 a.m.
Approximate Initial Investment: $110,000 to $700,000
Cash Requirement: $100,000
One Time Franchise Fee: $35,000
Ongoing Royalty Fee: $549 per month
Anytime Fitness
While the recent pandemic basically killed gym business, fitness franchises are said to be making a big comeback. Anytime fitness is one of the hottest. It focuses on group workouts plus plenty of workout equipment for solo workouts.
True to its name, Anytime Fitness offers members a keycard so they can access the gym anytime they want. With 4,000 locations world-wide, their operation costs are low while name recognition is high.
Estimated Initial Investment: $110,000 to $700,000
Cash requirement: $100,000
One Time Franchise Fee: $35,000
Ongoing Royalty Fee: $549 per month
Planet Fitness
With their low membership fees, “iconic purple and yellow branding,” and a mission for attracting first-time gym members along with avid fitness junkies, Planet Fitness considers itself a unique workout experience. You’ll find very few heavy weights here, but lots of cardio machines.
Planet Fitness gyms are said to be challenging to open since the brand’s main market is first time gym members. But this potentially translates into high retention rates via the low prices and a high sign-up rate especially at end of year in anticipation of New Years resolutions.
Estimate Initial Investment: $600,000 to $1,500,00
Cash Requirement: $150,000
One Time Franchise Fee: $59,950
Ongoing Royalty Fee: 8 percent
Ace Hardware
Ace is the place that is said to provide an alternative to the big box hardware stores like Lowes. This means you get more personalized attention from helpful staff members and you’re not overwhelmed by product choices.
Customer service are the keywords for this franchise and product choices are kept to a reasonable variety and selection. This franchise makes it easier for local hardware stores to remain competitive against the big box stores by means of their store-brand products taken along with their cooperative business structure.
Estimated Initial Investment: $300,000 to $2,000,000
Cash Requirement: $250,000
One Time Franchise Fee: $5,000
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