Franchising has become a huge part of American business, with over 7.9 million people being employed by a franchise. Buying into a franchise is appealing to novice and seasoned entrepreneurs alike, especially when the franchise has an established brand and provides franchisees with a solid business model, ongoing guidance and support, all at a competitive price. There are hundreds of franchises throughout the U.S., with some of the top listed below. These franchises are based on Entrepreneur’s latest Franchise 500 List. The criteria to make this list include:
• Costs and fees
• Size and growth
• Brand strength
• Financial strength and stability
The Top 5 Franchises in the U.S. are currently:
1. McDonald’s: McDonald’s is one of the most recognized names in the world, which is why it has become known as one of the best franchises. It is also one of the biggest franchises with 13,149 locations in the U.S. and 20,959 abroad. Starting a McDonald’s is pricey, start-up fees are roughly $1 million, but the ROI can be huge.
2. 7-Eleven Inc.: 7-Eleven has been one of the most recognized names in convenience stores since starting in 1927. 7-Eleven has an exceptional and affordable franchise program, with fees starting at just $38,000. 7-Eleven has 50,712 franchise locations worldwide.
3. Dunkin’ Donuts: This franchise has been around for decades and now has more than 11,300 locations throughout the world. As one of the most popular and longstanding donut chains, Dunkin’ Donuts has become a great option for many entrepreneurs. To open a Dunkin’ Donuts franchise, you can expect to make an initial investment of roughly $229,000.
4. The UPS Store: Since 2004, The UPS Store has offered entrepreneurs a lucrative franchise opportunity to provide copy, print, and courier services. It costs $178,000 to set up an individual franchise. There are over 5,000 UPS Store locations in the U.S., Canada, and Puerto Rico.
5. RE/MAX LLC: This real estate chain was established in Denver, CO in 1973 and has since grown to 6,800 offices throughout the world. This franchise allows franchisees to make substantial commissions and start-up fees start at just $38,000.
Would you like advice on how to build a franchise? Contact my office today to request a free consultation!