One of the best ways to start a business without necessarily starting from scratch is to join a franchise. Depending on your area of expertise and its overall popularity, joining a franchise can provide you with the right materials to succeed, as well as teach you what it’s like to run a business at a fraction of a cost. If you’re interested in franchising, click here now to find out more about the right strategies you need when choosing the franchising route.
To make your dreams come true, here are some examples of franchising opportunities to invest in:
With its iconic golden arches logo and its world-famous burgers and fries, McDonald’s has proven time and again that it only gets better with age. Since its operations in 1948, budding entrepreneurs who are looking for brand strength, financial stability, and world-class marketing support can invest in the world’s most popular fast-food franchise for less than 50,000 USD.
If you are the type of entrepreneur who is looking to get started in one of the world’s most recognizable brands, then McDonald’s is definitely a safe investment to consider in. Nevertheless, entrepreneurs should also be made aware that while the franchise fee is 50,000 USD, the costs for initial investment can range from between 1 million to 2 million USD since it includes royalty fees, real estate, as well as inventory costs.
As one of the world’s top convenience stores, 7-Eleven has made a name for itself based on its simplicity, convenience, and overall recognizability. Franchisers who invest in an initial fee of around 10,000 to a million USD can expect to get started within the first three months, coupled with additional entrepreneurial support like application, testing, and training. Additionally, entrepreneurs can also benefit from a gross profit split instead of sharing royalties while also expecting 7-Eleven to provide the store, land, and equipment so you can get started right away. Investing in a great brand could ensure your business success.
Also known as Dunkin’ Donuts, the company has rebranded itself by dropping the latter name in an attempt to rejuvenate its image. Nevertheless, the iconic donut shop is a brand recognizable in over 32 countries and has been rated as the #1 leading company in customer loyalty based on the Brand Keys Customer Loyalty Engagement Index. Like most big-name franchises, budding entrepreneurs who invested in Dunkin’ can expect training, site selection, store construction, and continuous marketing training to enhance your entrepreneurial and management skills.
4. Dream Vacations
According to an article in CNBC, people falling within the 18 to 34 age range would rather travel than invest in property. The reason for this is because millennials generally prioritize experiences rather than items since the real estate market isn’t considered to be stable at the moment.
If you are the type of entrepreneur who is looking to cater to the younger demographic, then you might want to set your franchising sights on something a bit more affordable. One example of which is Dream Vacations, a home-based travel agency franchise that has an initial cost of between 495 to 10,000 USD.
Aside from a low-cost investment, Dream Vacations also offers world-class support systems for home-based travel agents who are looking to make a profit in this particular market. This option is exceptionally attractive for entrepreneurs who aren’t looking to invest in a building but more on investing in online tools all within the comforts of their own home.
5. Anytime Fitness
Aside from traveling and new experiences, many studies also suggest that millennials are also spending their hard-earned cash on gym memberships and fitness opportunities rather than luxury items. The reason for this is because health and wellness are two factors that can help prevent the onset of chronic diseases while also providing more opportunities for self-care, socialization, and improving their overall quality of life.
If you are the kind of entrepreneur who is ready to meet this growing market niche then investing in Anytime Fitness, a world-class gym franchise, may be the best option for you. To start, the company generally has an initial cost of over 37,500 USD with a monthly payment of 549 USD. Additionally, Anytime Fitness also provides market assistance, site selection assistance, operations training, plus continuous training schedules that help in sharpening your entrepreneurial skills.
The right franchise can aid budding entrepreneurs to gain the necessary knowledge, skills, and experience in running a business without necessarily starting from scratch. However, to ensure your success, you should always make sure to research every aspect of the company first before deciding whether it is worth the investment.