- Dunkin is one of the most visible franchises in the world, and they are known for the support they provide to their franchises, including training, assistance, site selection, construction, and marketing.
- UPS Stores are popular for many reasons. First of all, they are cheap: The franchise fee is around $30,000.
- 7-Eleven is growing, with more than 70,000 stores now in operation.
Thanks to the COVID-19 pandemic, there is no question that the world is entering a period of business uncertainty. The good news is that this will end, and business opportunities will continue to develop. However, at this moment, many people are turning to franchises in order to start their own business. This is because franchises come with numerous benefits, including built-in support, a recognizable brand name, and the establishment of already successful business systems. With a franchise, you aren’t starting your business from scratch. Instead, you are launching from a starting point established by the success of already established brands.
As such, here are five of the top franchises to purchase in 2020.
McDonald’s isn’t a cheap franchise to start, with fees usually running around $45,000 and an investment of anywhere from between $1 million and $2.2 million. However, there is a reason McDonald’s is so expensive: It is one of the best-known franchises in the world. Indeed, the golden arches are literally among the most recognizable logos on the planet. McDonald’s franchises can earn huge money for people, often netting $150,000 per restaurant. This is a good number – higher than the average franchise – and reflective of McDonald’s massive power and presence in the mind of the average consumer.
Formerly Dunkin Donuts, this franchise recently dropped the “donuts” from their name. This comes as consumer tastes evolve and people become more health-conscious. Furthermore, the franchise has become known for so much more than their donuts, with coffee, sandwiches, breakfasts, and lunches becoming a highly popular staple of the restaurant. Furthermore, Dunkin is one of the most visible franchises in the world, and they are known for the support they provide to their franchises, including training, assistance, site selection, construction, and marketing. After all, it takes a marketing powerhouse to pull off a slogan like “America runs on Dunkin,” but easily manage to market themselves this way.
The UPS Store
UPS Stores are popular for many reasons. First of all, they are cheap: The franchise fee is around $30,000. The franchise is very popular, well known, and boasts some serious financial stability. Everyone knows what UPS is and what they do, and around 84% of the U.S. population lives within 10 miles of a “The UPS Store”. Additionally, the franchise is known for the dedicated training and support they provide to their franchises.
Great Clips is one of the premier names in discounted hair care, having been open for more than thirty years. Their well-known name, relatively low initial investment (a mere $200,000), and consistent support that makes them a very popular franchise to open. However, there’s more than that: The franchise is known for providing some very relevant market research to its franchisees. As a result, people who open one of these franchises are in a better position than most to use the data to market their services. This enhanced support helps owners achieve success.
7-Eleven is unquestionably the top convenience store in the United States. The marketplace is shifting to further favor stop and go sorts of stores, and 7-Eleven is repositioning the business to better meet customer demand. As a result, 7-Eleven is growing, with more than 70,000 stores now in operation. Additionally, 7-Eleven is a relatively inexpensive store to open and can be done quickly. Franchise fees are usually only $10,000, and stores can be open in a mere 3-6 months.