Franchise Business Opportunities
Franchises are a great option for entrepreneurs, for about a similar amount of capital and paperwork as a start up; you can skip the hard startup phase, and come in swinging with some competitive advantages.
Somethings to keep in mind before you consider franchises.
They have an initial fee for accepting an application, you will have to pay some start up costs (like real estate, licenses, etc), your credit will be ran, so you need to have a net worth within a required range (you need to have more than you owe), and you need to have a required amount of cash or leverage assets on the side.
Some of the best franchises can only be attempted beyond a million dollars.
Some first three questions you should ask yourself include: how much you can afford, what is your net worth, and what is your cash flow situation. The first is how much can you afford? Most franchises have an initial fee and price for startup equipment and procedures. This cost is low for cleaning services, but high for big brand name fast food, technology, hospitality, insurance, or other franchises with a high volume sales and high profit potential. The next is to figure your net worth. Do this by taking all your assets (cash, value of assets, everything you own and its value that you can sell), then subtract everything you owe (credit card debts, outstanding loans, mortgages, etc). That will give you, around what your net worth is. Lastly, think about how much you earn every month or year after taxes, and if that amount can easily be saved up to help you in case of emergency with the business?
Here are some ideas of a mixture of some small and big companies to get you started in your considerations.
The UPS Store
Culver Franchising System Inc.
Papa Johns Int’l. Inc
Ace Hardware Corp
Kumon Math and Reading Centers
Hampton by Hilton
Valvoline Instant Oil Change
Jack in the Box
Freddy Frozen Custard and Steak burgers
Pizza Hut LLC
Nurse Next Door Home Care Services
Golden Corral Restaurants
Goldfish Swim School Franchising LLC
Palm Beach Tan
Bojangles’ Famous Chicken ‘n Biscuits
Embassy Suites by Hilton
Express Employment Professionals
Two Men and a Truck Int’l. Inc.
Red Roof Inn
Pop-A-Lock Franchise System
Blaze Fast-Fired Pizza
Hilton Garden Inn
1 Hour Heating and Air Conditioning
Auntie Anne’s Hand-Rolled Soft Pretzels
Zips Dry Cleaners
Amazing Lash Studio
Charleys Philly Steaks
Dickey’s Barbecue Pit
Most Franchise opportunities revolve around fast food, home car service/ home giver, insurance salesperson, tutoring services, specialty product repair services, hospitality/motel/hotel, specialty retailers, home cleaning services, tools retailer.