If you’ve ever wondered how certain brands get so big, the answer lies in franchising. People buy into them by constructing their own stores and running their own neighborhood chains, and they get a cut of both the profits and the prestige. Here are just six of the best franchises to consider for your first.
Who hasn’t heard of 7-Eleven? You won’t need to do any convincing to build up a stream of loyal customers. You’ll also enjoy support from other franchisers all over the world; 7-Eleven is as far-flung as Taiwan and Sweden.
As a store on wheels, Snap-on is perfect for anyone tired of their cubicle. But it’s also great for those are who unsure of the franchising world: The brand had exactly zero closures in the past three years, so it’s the closest thing to a sure bet that you can get in the investment business.
3. Cold Stone Creamery
The Cold Stone franchise offers a great return for just $100-200K. It’s already a popular brand, meaning that you won’t have any trouble attracting customers, and the money you might have spent on advertising can be spent on other things instead. Your $100K will be returned to you in no time.
4. Liberty Tax Service
One of the cheapest franchises is also one of the most memorable. For just $60,000, you too can take to the streets in a Statue of Liberty costume so people will be intrigued enough to stop by and get their taxes done.
Aaron’s is another great franchise for first-time inventors. Not only does it sell and lease furniture, a practice that never goes out of style, but it also offers franchisers up to $450,000 in credit so they can stock inventory. How’s that for a deal?
6. Panera Bread
These cost a pretty penny to open; reports suggest that you shouldn’t even dream of building a Panera Bread unless you have $700K to spare. What you get for the money, however, is the rock-solid assurance that Panera Bread is one of the most popular and profitable restaurants in the midwest.
These are just six brands that are worth the cost and hassle of opening them. While investing in any franchise carries some element of risk, these are your best bets for long-term success. Good luck! Happy constructing!