If you’ve been dreaming of starting your own business but don’t know how to get started, franchising might be the answer. Not only is franchising a great way to make your entrepreneurial dreams come true, it also offers an easier and more affordable entry into business ownership. Let’s dive into the various franchise opportunities that exist and why franchising may be the perfect fit for you.
Types of Franchise Opportunities
Franchises can range from B2C (Business-to-Consumer) or B2B (Business-to-Business). A good example of a B2C franchise is a fast food restaurant, while a good example of a B2B franchise is an IT services company. Other types of franchise opportunities exist in business services, such as consulting, staffing, printing plus cleaning and maintenance services. In our experience there is a franchise for nearly every type of product or service out there. In the rare event that there is not, you can be sure that one will be coming soon!
Top Franchise Opportunity – Number Of Units
With 8,486 units across 91 countries, Subway is one of the most successful global franchise. Also high in number of locations is KFC with 4,563 stores across 115 countries and McDonald’s with 37,800 locations in 120 countries. Other popular global franchises include 7-Eleven with 69,000 stores spanning 17 countries, Burger King with 15,973 units spread across 91 countries and Domino’s Pizza with 16,756 outlets in 85 countries. This impressive data clearly illustrates how successfully these franchises have managed to bring their renowned brand of products and services to increasingly distant markets. However, fast food chains are not the only franchise business out there. Additionally, they may not be of interest to many budding entrepreneurs.
Best Business Franchise Opportunity – Higher Investments
Franchising can be a great opportunity for new entrepreneurs; however, with any business endeavor, it comes at a cost. While the start-up costs of the franchise vary greatly depending on which industry is chosen, some franchises are more expensive than others. Fast food restaurants like McDonalds and Subway often require up to two million dollars in initial investment, while luxury brands and specialty businesses may require even higher investments. Depending on the specific type of franchise, royalties may also be required. Ultimately, prospective franchisors should look into all applicable costs when determining whether or not franchising or a specific franchise is right for them. In general, any franchise that requires brick and mortar will cost more. Sometimes this can be a storefront other times it can be warehouse space.
Best Business Franchise Opportunity – Cost Effective Franchises
On the other hand, there are some franchises that offer lower start-up costs and ongoing expenses which can make them more attractive options for potential business owners. For example, Valenta Franchise offers IT services and digital marketing solutions for businesses and our franchisee managing partners can build a business around these services as well as consulting and virtual staffing. Valenta is one of the top B2B franchises out there today due to its comprehensive suite of products and services which help businesses grow and optimize their businesses.
Other Franchising Opportunity – Business Services
There are other interesting B2B franchises that do not break the bank in addition to Valenta. Other cost effective franchises include coaching and services opportunities like Action Coach, and Sandler. Expense reduction franchises like Schooley Mitchell and ERA are also names we hear often. Medical billing and staffing are other cost effective and popular with those looking for a B2B franchise opportunity and include companies like Patrice Associates, i4 Search Group, and American Business Systems.
More Franchising Opportunity – Personal Services
Many potential franchisees are looking for cost effective franchises but wish to provide services to people and not other businesses. Based on an aging population elder care and assistance franchises are increasing in popularity. Some brands we hear about are Assisted Living, Talem Home Health, Caring Transitions, Home Helpers, and Home Well. Real Estate and vacation property management is an interesting area and Blue Moon Real Estate and iTrip Vacations are in this space. Pet care is also popular and there a many franchising business opportunities including Fetch Pet Care and Hounds Town. Finally, there are many options in home improvement and some names that come up in discussion with our franchise network include Closets by Design, Kitchen Tune Up, Mosquito Joe, Lawn Doctor, PuroClean, and Men in Kilts (like we said, there is a franchise for everyone!).
Conclusion
Ultimately the best business franchise opportunity comes down to what you are looking to do and what you want to invest in. For those looking for an easier path into business ownership than traditional methods allow, franchising offers many potential benefits including low startup costs, established brand recognition, and ongoing support from corporate offices. With so many different types of franchises available – from fast food restaurants to IT services companies – there’s something out there for everyone who wants to start their own business without having to build it from scratch. So, whether you’re looking for something high-cost or low-cost – take a look at what’s out there when considering your next big move! And if you are interested in Valenta please contact us today to learn more about getting started with Valenta Franchise! Here is a link where you can reach out to one of our Managing Directors to begin a discussion.
