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Posted 16 November 2020
If you are looking to start up a business, look no further because owning a franchise is great. When you own a franchise, there are many benefits you can enjoy. These benefits can determine if you will make money or not.
With a franchise, you can enjoy what the franchise organization has built for many years; it could be the brand, loyal customers, and less overhead. The cost of running a business could differ, but there’s hardly any business without expenses.
Working with one of the franchise organizations can help kick off your business. You will get support, and customers will immediately come to patronize you.
In this article by Franchoice, you will learn how a franchise organization can help you.
All or almost all franchise organizations require an investment before they can accept you. They’ll do the construction of the location or help find one for you to rent.
Get ready for the interview. Most franchise organizations would want to make sure you can adhere to their principles. You shouldn’t worry about not getting accepted because of a lack of experience. They will teach you how they operate. They’ve mastered their business and have made everything easy for anybody to understand; you just have to do as they say.
If you don’t have money, now is the time to save up for your franchise business because it’s a great business model and promises excellent returns. But there’s something you know about franchise organizations.
Some have minimum investments that are affordable, but they make their money when you earn. When you make a sale of their product, they’ll automatically collect a percentage. There’s nothing wrong with this. If you are looking for a low-cost franchise, then you can check here.
When you work with them to set up your franchise, customers will come to the location for sure. Some franchise organizations have built a massive following online, and usually, they have millions of people on their email list.
Once there’s a new franchise location, all they do is press a button and begin the marketing for you. Find out the basics of marking a franchise in this post by thebalancesmb.
A franchise organization could ask you to set aside an amount of money for advertisement.
Still interested in owning a franchise? Below are some top business franchises that can make you money.
1. Taco Bell.
This restaurant serves Mexican inspired foods that include burritos, nachos, quesadillas, and tacos. Glen Bell started the company in 1962. Yum owns this company, and since its ownership, the restaurant keeps growing up to six percent annually.
If you want to buy a Taco Bell franchise, you can learn more here.
William Rosenberg founded Dunkin’ Donuts, which is now Dunkin’. It has a revenue of over $1.3 billion, and Dunkin’ Brands own it. There’s no doubt that this will be a tremendous money-making franchise for you. However, it’s not cheap to get in. You should expect the initial franchise investment to be between $395,500 to $1.6 million.
You can learn more about Dunkins’ franchise process on this page on Dunkins’ website.
Chick-fil-A is one of the most profitable companies in the restaurant business; you can learn more here. However, you will be the operator (like a manager) because it owns the location and controls it.
There’s a franchise fee of $10,000. You can operate and help grow the restaurant, but the company is the one in charge. You will report back to them if you want to make a significant change or buy and upgrade something expensive for the restaurant.
As an operator, your hands will be on deck. Investing with this company isn’t passive; this is an investment that will bring you returns based on how prosperous the restaurant gets because of your efforts.
With over 38,000 locations, McDonald's is one of the top franchises. They started franchising in 1995, and they have a lot of successful investors. They have a revenue of over $21 billion. According to FranchiseHelp, expect to pay a franchise fee of $45,000, but the initial investment could range from $1.3 million — $2.2 million.
McDonald's has invested heavily in tech to increase speeds from order to delivery. You can learn more about how McDonald's is investing in improving its locations in this post by MarketingWeek.