Delving into the world of franchising can be an exciting and rewarding way to become your own boss.
But with so many different franchise opportunities out there, it can be tough to know which one is right for you.
The best franchise to own is the one that best fits your skills, interests, and goals. Whether you’re looking for a hands-on or passive investment, there’s a franchise out there that’s perfect for you.
In this article, we’ll outline a few of the best franchises to own based on different criteria. We will also provide helpful tips on choosing the right franchise for you.
The Best Franchises to Own — Our Top Picks
- Category: Fast food
- Initial Investment: $1 million – $2.2 million
- Royalty Fee: 4%
- Liquid cash requirement: $500,000
With over 36,000 locations in more than 100 countries, McDonald’s is one of the most ubiquitous brands in the world. And it’s no surprise that the company tops our list of the best franchises to own.
McDonald’s is a proven business model with strong brand recognition, and it offers a hands-on experience for those who want to be actively involved in running their franchise.
The initial investment is on the higher end, but you’ll have access to proven marketing and operating procedures and comprehensive training programs.
- Category: Convenience store
- Initial Investment: $38,000 – $1 million
- Royalty Fee: 4.5% of gross sales
- Liquid cash requirement: $50,000 – $100,000
7-Eleven is another global brand that has become synonymous with convenience. With over 70,000 stores in 19 countries, 7-Eleven offers a turnkey franchise opportunity with low initial investment and no experience necessary.
7-Eleven provides comprehensive training and support to help you get your franchise up and running quickly and efficiently. And because the brand is so well-known, you’ll have a built-in customer base from day one.
3. Dunkin’ Donuts
- Category: Coffee and donuts
- Initial Investment: $228,620 – $1.7 million
- Royalty Fee: 5%
- Liquid cash requirement: $250,000
Dunkin’ Donuts is one of the most recognizable names in the coffee industry, and it’s also one of the best franchises to own.
With more than 11,000 locations worldwide, Dunkin’ Donuts has a proven track record of success.
The initial investment is on the higher end, but you’ll be getting a well-established brand with a loyal customer base.
Dunkin’ Donuts also offers comprehensive training and support, so you can be sure you’re set up for success from the start.
Read: Dunkin Franchise Review
4. Anytime Fitness
- Category: Gym
- Initial Investment: $154,000 – $7 million
- Royalty Fee: $549 per month
- Liquid cash requirement: $100,000
Anytime Fitness is a great franchise opportunity for those with a passion for fitness and helping others reach their goals. With more than 4,000 locations worldwide, Anytime Fitness has been consistently ranked as one of the top franchises to own.
The initial investment is relatively low, and you’ll have the freedom to be your own boss and set your own hours. Anytime Fitness also offers training and support to hit the ground running with your new franchise.
5. The UPS Store
- Category: Shipping and postal services
- Initial Investment: $174,000 – $403,000
- Royalty Fee: 5%
- Liquid cash requirement: $75,000
The UPS Store is a great option for those looking for a hands-on franchise opportunity. With over 5,000 locations worldwide, The UPS Store has a proven business model and offers comprehensive training and support.
The UPS Store is a great choice for entrepreneurs looking for an opportunity to be actively involved in running their franchise.
The initial investment is on the lower end, and you’ll have access to all the resources you need to get your franchise up and running quickly and efficiently.
Read: UPS Store Franchise
6. Taco Bell
Category: Mexican fast food
Initial Investment: $500,000 – $2.6 million
Royalty Fee: 5.5%
Liquid cash requirement: $750,000
Taco Bell is one of the world’s most popular Mexican fast-food chains, and it’s also one of the best franchises to own.
This quick-service restaurant offers a proven business model and comprehensive training and support.
The initial investment is variable, but you’ll be getting a well-established brand with a loyal customer base. Taco Bell also offers a hands-on experience for those who want to actively run their franchise.
Read: Taco Bell Franchise
7. Planet Fitness
- Category: Gym
- Initial Investment: $1 million – $4 million
- Royalty Fee: 7%
- Liquid cash requirement: $1.5 million
Planet Fitness is another gym franchise that offers a great opportunity for those with a passion for fitness. With more than 2,000 locations worldwide, Planet Fitness has a proven track record of success.
What sets Planet Fitness apart from other gym franchises is its focus on providing a judgment-free environment.
This makes it a great choice for entrepreneurs who want to positively impact their community.
Read: Planet Fitness Franchise
Tips for Choosing the Best Franchise to Own
Now that you know some of the best franchises to own, how do you choose the right one for you? Here are a few things to keep in mind:
1. Consider Your Skills and Interests
When choosing a franchise, it’s important to consider your interests and skills. Do you have experience in the industry?
Do you have a passion for the product or service? Do you have the skills necessary to run a successful franchise?
You’re more likely to struggle if you choose a franchise that doesn’t align with your skills and interests.
But if you choose a franchise that you’re passionate about and that plays to your strengths, you’ll be more successful in the long run.
2. Consider the Initial Investment
The initial investment is one of the most important factors to consider when choosing a franchise. How much money are you willing to put into your business?
Do you have the liquid assets necessary to cover the costs? Will you need to take out a loan?
The initial investment can vary widely from one franchise to another. Some franchises require a relatively small investment, while others can cost millions of dollars. It’s essential to consider your financial situation before committing.
Also Read: Super Donuts Franchise
3. Consider the Location
When choosing a franchise, it’s also important to consider the location. Where will you be opening your franchise?
Is there a good market for the product or service in that area? Are there any competition concerns?
The location of your franchise can have a big impact on your success. After all, it’s important to be in a place where people are interested in what you’re selling.
The best franchise to own is the one that’s right for you. The 7 franchises listed above are all great choices, but only you can decide which one is the best fit for your skills, interests, and goals.
When considering a franchise, be sure to do your research. Speak with franchisees and ask lots of questions. And most importantly, choose a franchise that you’re passionate about.
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank #1 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.