It can be exciting getting ready for the perfect franchise opportunity. There are so many brands out there with franchises for sale, but it’s essential to find the right one based on your investment capabilities and goals.
In this blog, Mark Renehan, Vice President of Franchise Development, will discuss how to choose a franchise, provide a list of franchises for sale across a range of industries, and reveal the best franchises to own with low investment requirements.
My Expert Opinion on How to Find the Best Franchise to Own
When getting off the ground as a franchisee, it’s important to know how to find franchises for sale that are worthwhile. With so many options, it can be challenging pinpointing the best franchise to own, but you can narrow down your selection based on your investment capacity and the specific goals you set for yourself.
By aligning your personal goals, interests, and investment levels with the various franchise opportunities out there, you’ll increase your chances of enjoying long-term satisfaction as a franchisee. The last thing you want to do is wind up feeling stuck and out of luck, but you can easily avoid these struggles with the right precautions before getting into franchise development.
Evaluating Franchise Opportunities
Knowing what to look for in a franchise can answer the key question of what are the best franchises to own.
These factors can help you make a good choice when assessing franchises for sale:
- The initial investment and ongoing fees associated with owning the franchise
- Available franchise support and training programs that can equip you and your team to manage the location
- Market demand and competition, as established brands will see more customers while helping to dominate competitors
With every opportunity, it’s vital to conduct thorough due diligence before making a final decision. Doing so will help you further identify the best franchises to own based on your capacity, wants, and needs as a prospective franchisee.
Steps to Acquire a Franchise Business for Sale
You need to understand the process of acquiring your ideal franchise business before diving in head first.
As you approach a franchise opportunity, you’ll take the following critical steps:
Research and Selection
To start with, you must look into the franchises for sale, conducting a franchise cost comparison and looking at all aspects of the franchise to get a good picture of what being a franchisee would be like.
Engaging With Franchisors and Existing Franchisees
Once you’ve made your choice, the next step is to engage with franchisors and the franchisees currently running their own branches of the business. Franchisors can give you further guidance on how to acquire a franchise, while speaking with franchisees can let you know more about what the franchising experience entails and what to expect.
Existing franchisees will know the kinds of challenges you could face and help you overcome them from the start.
Securing Finances and Understanding Contractual Obligations
As you prepare to officially acquire a business or franchise for sale, you must procure the necessary financial backing.
For one, you’ll need to know where to get the capital when purchasing a franchise, and you should know the terms of any contracts you encounter before signing.
With proper financing and a good understanding of the contractual obligations in place, you can enter into a profitable business opportunity while avoiding potential issues with noncompliance.
Affordable Franchise Opportunities Under $10,000
If you’re on a particularly tight investment budget, forget about looking for the best franchises to own under $100K—you can find a low-cost franchise for sale that falls under $10,000 in many cases.
For example, you can find lists of the best franchises to own with a low investment on Franchise Direct, with the ability to filter your search based on industry, location, and investment level.
Another source you can check out is Connecteam, which lists even more of the best franchises to own under $100K or less.
Keeping an eye on these sources can help you locate the right opportunity for you, even if you’re not happy with the selection of existing franchises for sale—things always change!
Exploring the Top Existing Franchises for Sale
So, what are the best franchises to own? There are currently many franchise businesses for sale that can be worth the investment if they match your interests and goals.
The key is going with reputable existing franchises for sale over industry newbies, as these franchises have built a loyal following with a solid customer base and brand recognition.
Based on these criteria, here is a list of franchises for sale in each major industry that offer great opportunities.
Fast Food Franchises
Many fast food franchises offer a great chance to earn revenue with a steady stream of customers and a fast-paced environment.
The following are some of the best fast food business franchises for sale:
Inspire Brands
Comprising some of the most well-known restaurant brands, Inspire offers great brand recognition, ample support, innovative opportunities, and unrivaled buying power and scale.
Financials for these opportunities include, which vary from brand to brand:
Estimated Initial Investment: $90,000 (e.g. Baskin Robbins) to $3,543,000 (SONIC)
Franchise Fee: $12,500 (Arby’s) to $90,000 (Dunkin’)
Royalty Fee: 4% to 6% of gross sales
Minimum Financial Requirements: A minimum net worth of $200,000 and liquid capital of $50,000
Church’s Texas Chicken
Church’s is yet another excellent fast food franchising opportunity, with more than 1,500 locations across the globe, comprehensive support, and the chance to own multiple locations.
To qualify, you must meet the following financial requirements:
Estimated Initial Investment: $648,866 to $1,896,300 based on footprint and location
Franchise Fee: $15,000
Royalty Fee: 5% of monthly gross fees
Minimum Financial Requirements: $2 million net worth plus $1 million in liquid assets
McDonald’s
As one of the best franchises to own, McDonald’s offers its franchisees a highly profitable opportunity at one of its many locations as it continues to expand across the U.S.
Financial details for McDonald’s franchising include:
Estimated Initial Investment: $1,469,000 to $2,503,000
Franchise Fee: $45,000
Royalty Fee: 4% of gross sales
Minimum Financial Requirements: $500,000 in liquid assets for downpayment plus $100,000 of working capital dollars
Subway
Another of the best franchises to own for beginners is Subway, which has 20,482 sandwich stores across the U.S.
To become a franchisee with Subway, you’ll need to meet the following requirements:
Estimated Initial Investment: $229,050 to $522,300
Franchise Fee: $15,000
Royalty Fee: 8% of gross sales
Minimum Financial Requirements: A net worth of $150,000 plus $100,000 in liquid assets per location
KFC
KFC offers a great chance to excel with franchising, with over 23,000 locations all over the world, comprehensive training and support, and a continually innovating menu that keeps customers coming back.
Here are the financials for KFC franchises:
Estimated Initial Investment: Starting from $1,442,550
Franchise Fee: Up to $45,000
Royalty Fee: 5% of gross sales
Minimum Financial Requirements: A total net worth of $1,500,000 and $750,000 in liquid assets
Convenience Store Franchises
Another type of franchise business for sale is a convenience store, which offers consistent customer demand and, in many cases, efficient and reliable supply chains to keep things running.
Check out these convenience store franchises for sale to see if these options are right for you:
7-Eleven
One of the most recognized convenience stores, 7-Eleven can bring a lot to the table for franchisees, with an international presence, ample support, a flexible business model, and millions of customers.
Financial requirements for this franchise include:
Estimated Initial Investment: $142,000 to $1,400,000
Franchise Fee: $10,000 to $1,000,000
Royalty Fee: 50% of gross profit
Minimum Financial Requirements: $100,000 in liquid assets
Circle K
Another one of the best business franchises for sale in this industry is Circle K. One unique benefit of Circle K is versatility, as you can choose from different store formats and locations based on which would be the right fit for you.
Financials include:
Estimated Initial Investment: $268,500 to $4,846,500
Franchise Fee: $25,000
Royalty Fee: 3.5% of gross sales
Minimum Financial Requirements: $100,000 in liquid assets on top of a $1,000,000 minimum net worth
Hair Salon Franchises
Passionate about hair and the hairstyling business? There are also several nationwide hair salon business franchises for sale, including:
Supercuts
Supercuts has a proven business model with a strong reputation and a heavily varied customer base, from families to busy professionals.
Check out the financials for this brand:
Estimated Initial Investment: $185,000 to $318,000
Franchise Fee: $40,000
Royalty Fee: 6% of gross sales
Minimum Financial Requirements: $80,000 in liquid assets and a $500,000 net worth
Great Clips
Another popular hair salon brand is Great Clips, with more than 4,000 locations in North America, a proven business model developed over 40 years of experience, and a strong community presence.
Financial details include the following:
Estimated Initial Investment: $183,000 to $394,000
Franchise Fee: $20,000 to $35,000
Royalty Fee: 6% of gross sales
Minimum Financial Requirements: $50,000 in liquid assets and $300,000 net worth
Sport Clips
Sport Clips is one of the top men’s hair salon brands, with strong brand recognition, innovative technologies, and flexibility to appeal to its franchisees.
Here is the financial data for this brand:
Estimated Initial Investment: $266,300 to $439,500
Franchise Fee: $30,000 to $69,500
Royalty Fee: 6% of gross sales
Minimum Financial Requirements: $400,000 net worth and $200,000 in liquid assets
Educational Franchises
In giving children the opportunity to learn, you can also find an educational business or franchise for sale that provides the perfect opportunity.
Here are a couple of franchise businesses for sale in this lucrative industry:
Kumon
Another established brand, Kumon offers personalized learning experiences that appeal to students and parents alike. Franchisees benefit from generous incentives, extensive support, and low cost of entry.
Here are the financials:
Estimated Initial Investment: $64,458 to $139,890
Franchise Fee: $1,000 to $2,000
Royalty Fee: 10% to 15% of gross revenue
Minimum Financial Requirements: $150,000 net worth and $70,000 in liquid assets
Sylvan Learning
Sylvan Learning has over 45 years of experience helping students learn, with multiple revenue streams, community impact, and high earning potential.
Financials for this brand include:
Estimated Initial Investment: $100,752 to $226,842
Franchise Fee: $36,900
Royalty Fee: 16% of monthly gross revenue and a potential minimum $32,000 annual royalty
Minimum Financial Requirements: $80,000 in liquid assets plus a $150,000 net worth
Cleaning Service Franchises
Cleaning services also offer multiple opportunities, from maid services to carpet cleaning.
Take a look at this list of franchises for sale in this industry:
The Maids
A trusted brand, The Maids provides supportive franchising with four decades of industry experience as a leading cleaning service provider.
Financials include:
Estimated Initial Investment: $64,100 to $154,300
Franchise Fee: $12,500
Royalty Fee: 3.9% to 6.9% of gross sales
Minimum Financial Requirements: $250,000 net worth and $50,000 in liquid assets
Maid My Home
Manage your business entirely online with Maid My Home, a low-cost franchise for sale with many perks.
You can expect these financial requirements:
Estimated Initial Investment: $64,100 to $154,300
Franchise Fee: $12,500
Royalty Fee: 3.9% to 6.9% of gross sales
Minimum Financial Requirements: $250,000 net worth and $50,000 in liquid assets
Kwik Dry Carpet & Air Duct Cleaning
Get a one-page dealership agreement for a simpler acquisition process, exclusive territory ownership, and no royalty fees with this brand.
Financials include the following:
Estimated Initial Investment: $42,000 to $77,000
Franchise Fee: $30,000
Royalty Fee: A flat monthly rate in lieu of royalty fees
Minimum Financial Requirements: Unclear but with generally low start-up costs
Travel Agency Franchises
Looking for the best franchises to own in the travel industry? Check out the following popular franchises for sale:
Cruise Planners
Cruise Planners is one of the best franchises to own for beginners, offering remote management opportunities, pre-launch training, industry recognition, and plenty of other benefits.
You’ll need to meet the following needs to qualify:
Estimated Initial Investment: $2,295 to $23,367
Franchise Fee: $695 to $10,995
Royalty Fee: 1.5% to 3% of gross commissionable fares
Minimum Financial Requirements: No specific minimums but with low start-up costs
Dream Vacations
Work from anywhere with an internet connection and get plenty of support with this opportunity.
Financial needs include:
Estimated Initial Investment: $3,245 to $21,850
Franchise Fee: $10,500
Royalty Fee: 1.5% to 3% of gross commissionable fares
Minimum Financial Requirements: No clear minimums but with reduced start-up expenses
Expedia Cruises
For a low-cost franchise for sale, you might consider Expedia Cruises, which is backed by Expedia’s reputation and diverse revenue streams using an omnichannel retail model to engage more customers.
Financial details include:
Estimated Initial Investment: $197,050 to $328,745
Franchise Fee: $49,000
Royalty Fee: 9% of gross revenue
Minimum Financial Requirements: $750,000 net worth and $250,000 in liquid capital
Home Services Franchises
People also need home services, leading to many potential franchise opportunities in this space, such as:
Authority Brands
Take advantage of a diverse and reputable brand portfolio with Authority Brands, with the unique ability to get some effective marketing assistance to help promote your franchise.
Financials include:
Estimated Initial Investment: $64,100 to $154,300
Franchise Fee: $12,500
Royalty Fee: 3.9% to 6.9% of gross sales
Minimum Financial Requirements: $250,000 net worth and $50,000 in liquid assets
Bill Howe
Known for providing reliable air conditioning, heating, and plumbing services, many people trust this franchise that continues to spread.
Here are the financials for Bill Howe:
Estimated Initial Investment: N/A
Franchise Fee: N/A
Royalty Fee: N/A
Minimum Financial Requirements: N/A
Credit Reporting Franchises
There are also certain opportunities in the credit reporting industry, including the following:
Experian
Experian is globally recognized and offers plenty of revenue sources via data analytics, credit reporting, and decision-making solutions.
Here are the financial needs for franchisees:
Estimated Initial Investment: N/A
Franchise Fee: N/A
Royalty Fee: N/A
Minimum Financial Requirements: N/A
Business Data and Insights Franchises
This industry also has franchises for sale if you would like to get into business data collection, such as:
Dun & Bradstreet
Consider this opportunity if you’re looking for a franchise in this industry.
Financial needs include:
Estimated Initial Investment: N/A
Franchise Fee: N/A
Royalty Fee: N/A
Minimum Financial Requirements: N/A
Automotive Franchises
If you want to become a part of the automotive industry with your very own business, check out these franchise businesses for sale:
Driven Brands
From Meineke and Take 5 Oil Change to Maaco, many reputable brands fall under the Driven umbrella, giving you plenty of opportunities as a franchisee.
Here are the financials for Driven Brands franchises:
Estimated Initial Investment: $75,000 to $1,617,000
Franchise Fee: $35,000 to $45,000
Royalty Fee: 5% to 9% of gross revenue
Minimum Financial Requirements: $60,000 in liquid capital along with a $125,000 net worth
Midas
Recognizable all over the U.S. as a leading auto repair company, Midas is a particularly appealing franchise opportunity in the automotive industry.
Take a look at the financials:
Estimated Initial Investment: $209,150 to $1,042,640
Franchise Fee: $10,000 to $35,000
Royalty Fee: 2% to 10% of net revenue
Minimum Financial Requirements: $250,000 net worth and a liquid capital of $50,000
Grease Monkey
This company’s independence from oil companies sets it apart in its ability to negotiate with multiple suppliers, with high-quality service standards and great margins for franchisees.
The following are the financial requirements for Grease Monkey:
Estimated Initial Investment: $252,000 to $821,000
Franchise Fee: $10,000 to $39,900
Royalty Fee: 6% of gross revenue
Minimum Financial Requirements: $600,000 net worth and $400,000 cash investment
Get Started on a Successful Franchise Opportunity With Ignite Visibility
Knowing more about the many franchises for sale and how to choose a franchise can put you on the right path to ownership, but it’s equally important to know how to market your franchise before and after opening the location.
From franchise email marketing solutions to comprehensive franchise social media campaigns, Ignite Visibility has the resources and know-how to get your business off the ground the right way.
At Ignite Visibility, you can count on us to:
- Put together a comprehensive franchise marketing campaign that works for you
- Monitor competitors to see how their performance can influence your campaign
- Track campaigns with in-depth data and insights measured against your goals
- Continually optimize your strategy for increasingly great performance
- And more!
Does that sound good to you? If so, don’t hesitate to reach out to us and discuss your franchise marketing needs.
