Owning a franchise is one of the easiest ways of earning profit. Most entrepreneurs and investors want to invest money in the franchise.
But they can’t analyze the best and most profitable franchises because of busy schedules.
So here we provide information related to the top 10 franchises that an entrepreneur must have to open.
This article will cover all the facts you need to know before investing in any franchise. Keep reading to learn more.
Top 10 Franchises For Entrepreneurs
Dunkin’ Doughnut Franchise
| Founded | 1950 |
| Locations | 12,000 units |
| Initial Investment | $97,500-$1.7million |
| Franchise Fee | $40,000-$90,000 |
Dunkin is also enjoying massive brand recognition. Dunkin is known for its delicious doughnut.
In the Northeast, the Dunkin doughnut is beloved as something of a cultural institution. But it offers franchises to only those who are serious upfront investments.
An investor must have at least $250,000 in liquid assets and a $500,000 minimum net worth. The worth also varies on your location.
Dunkin’s franchise fee varies depending on your location and state.
So before investing in the franchise, an entrepreneur needs to analyze and search areas that will have a lower barrier to entry.
It also offers discounts off the initial franchise for certain investors, such as investors who plan to open several locations, open restaurants in developing areas, and qualified veterans.
Supercuts Franchise
| Founded | 1975 |
| Locations | 2400 Salons units |
| Initial Investment | $151,370- $321,020 |
| Franchise Fee | $20,000 |
Supercuts is known for a variety of hair services at the lowest cost.
It’s a salon that has more than 2500 hair salons across the USA. It is one of the best choices for entrepreneurs who want to invest in the franchise.
Supercuts is a low-cost franchise with high profits. And the business model is also simple and easy to operate.
To open a single franchise location must have at least $15,000 in liquidity cash. It is one of the nation’s franchises and small business funding solutions providers.
Pearle Vision Franchise
| Founded | 1961 |
| Locations | 550 units |
| Initial Investment | $415,000-$644,000 |
| Franchise Fee | $20,000- $50,000 |
Pearle Vision is known for its eye care services. Nowadays, every second person is facing an issue related to the eye.
Nobody has the time to take care of their eyes. The concept of Pearle Vision has not only unique, but the kit is also helpful for human beings.
And the most important is a high profitable business. They provide guidance or lenses, prescription sunglasses, and designer wear.
It is the world’s largest eyewear company. The eye care company will continue to experience rapid growth over the coming decades as more and more Americans get older and the demand for vision care increases.
In 1981, the Pearle Vision started offering franchises. They have more than 30 years of experience in franchising and more than 500 Eyecare centers across the USA. To open a franchise investor must have at least $100,000 in liquidity.
Ace Hardware Franchise
| Founded | 1924 |
| Locations | 5,312 units |
| Initial Investment | $292,000-$2,119,230 |
| Franchise Fee | $5,000 |
Ace Hardware is a cooperative retail store. It is the world’s largest hardware retail store and cooperative. They offer three types of franchise opportunities:
They can start a new Ace Hardware store, convert their current location into an Ace Hardware, or start an Ace Hardware Grocery.
It is one of the most profitable franchises in 2022. Ace Hardware has opened 5,312 units since it started franchising in 1976.
An entrepreneur who wants to open a franchise must have at least $250,000 in liquidity assets.
The Ups Store Franchise
| Founded | 1980 |
| Locations | 5,166 units |
| Initial Investment | $138k-$470k |
| Franchise Fee | N/A |
The Ups Store is known for packing and shipping services. In 1980, the concept was introduced as a convenient alternative to the post office.
It is one of the most profitable franchises as Store was ranked #5 on the franchise 500 lists in 2020.
The Ups store also ranked in Entrepreneur magazine’s Postal & Business Centers Category for the 32nd consecutive year.
Currently, The Ups Store has more than 5,166 units. If you want to open a franchise, you must have at least an initial investment of $138k-$470k.
It is one of the best deals for an entrepreneur who is willing to invest. They will definitely get profit over the years.
The Store also changed as it grew, offering more services, innovative solutions, and faster shipping time frames.
McDonald’s Franchise
| Founded | 1940 |
| Locations | 38k units |
| Initial Investment | $1,314,500- $2,313,295 |
| Franchise Fee | $45,000 |
McDonald’s is fast food restaurant founded in 1940 by Richard and Maurice McDonald.
It has been around for more than seven decades, and many franchises have been established in that time. In 1995, McDonald started offering franchises.
The chain is selling ten orders per second, and those figures should be enough to show its continued success and profit.
For these reasons, the majority of an entrepreneur is willing to get into the restaurant franchise business.
If you want to open a franchise, you must have at least an initial investment of $1,314,500- $2,313,295.
Chick-FIL-A Franchise
| Founded | 1967 |
| Locations | 2,600 units |
| Initial Investment | $342,990-$1,982,225 |
| Franchise Fee | $10,000 |
Chick-FIL-A is the largest fast-food restaurant chain in the USA, specializing in chicken sandwiches. It offers a franchise with strong principles for menu and catering.
Chick-FIL-A is the low initial investment required to launch a franchise. Currently, it has more than 2,000 locations throughout 46 states.
It is directly tied to our franchisees’ passion and drive for their local business.
The Maids Franchise
| Founded | 1979 |
| Locations | 1473 units |
| Initial Investment | $64,100-$154,300 |
| Franchise Fee | $12,500 |
The Maid is a cleaning service providing company. They offer multiple cleaning packages that are designed to meet the demand of any homeowner.
It is one of the profitable franchises and ranked as the #1 residential cleaning franchise by Entrepreneur magazine in its Franchise 500 ranking.
They are one of the “25 Franchise High Performers” by the Wall Street Journal.
An entrepreneur who wants to open a The Maids franchise must have at least $50,000 in liquidity assets.
Kumon Franchise
| Founded | 1958 |
| Locations | 1500 units |
| Initial Investment | $64,100-$148,965 |
| Franchise Fee | $2,000 |
Kumon is known for its education services in mathematics. Toru Kumon uses his Kumon Method to teach mathematics. They have unique techniques to guide children.
They always guide children through an enrichment program that complements schoolwork while ensuring nothing is missed in mathematics.
If you want to open a franchise, you must have at least an initial investment of $64,000-$148,965.
Dream Vacation Franchise
| Founded | 1992 |
| Locations | 212 units |
| Initial Investment | $2k-21k |
| Franchise Fee | -$9,995 |
Dream Vacation is a travel agency. It is one of the lowest-cost franchises, and the best thing about the franchise, it is a home-based franchise.
So you can easily run the franchise from home. In 1992, Dream vacation started offering franchises and currently has more than 1,500 units.
It is a great option for those entrepreneurs who don’t want to invest in bulk and have a low budget.
It is not only the lowest-cost franchise, but it’s one of the most profitable franchises under $50k.
If you’re going to open a Dream vacation franchise, you must have an initial investment of -$3,245 to $21,850
Conclusion
When you own the franchise, you automatically skip the complicated part and get to gain profits. But it is not an easy step before investing in a franchise.
You need to analyze many things and also manage your budget with the investment requirements of the brand.
Frequently Asked Questions
Can you get a millionaire by owning a franchise?
Yes, but it depends on the franchise and the investment. Owning a franchise will only be profitable if you pick the right franchise business. Additionally, you must consider some facts before investing your money, like brand strength, financial stability, and growth.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.