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Looking for a new business venture but don’t want to build it from scratch? A franchise opportunity might be the best option for you. Knowing that you want to own a franchise is just the beginning; finding the best franchise opportunities is where the challenge lies.
We have compiled a list of eight of the top franchise opportunities to own in 2023 based on franchise popularity, flexibility, and management support. Ultimately, our top picks are franchises that have proven returns, relative flexibility for franchise owners, and marketing and management support from the parent company.
The best franchise opportunities to purchase in 2023.
- Taco Bell
- The UPS Store
- Orangetheory Fitness
- Kumon Learning Centers
- Popeyes Louisiana Kitchen
- Planet Fitness
McDonald’s is the most renowned fast food franchise in North America and the world. You can easily find McDonald’s in any country. In part, that’s because it’s considered one of the most lucrative businesses to invest in.
It is also one of the most expensive franchises around, but that is because of the consistency and guarantee. If you can open a McDonald’s franchise in a well-trafficked area, you will be able to recover your initial investment quickly.
Setting up a McDonald’s Franchise requires you, as the franchisor, to agree to run the restaurant under the McDonald’s brand terms. You must operate your business during a specific time and serve the same menu. With this in mind, you can quickly draw in loyal customers.
Formerly Dunkin’ Donuts, Dunkin’ indeed costs less than McDonald’s and has a strong brand behind it. Dunkin’ locations can be considered fast-food coffee shops that specialize in donuts, coffee, bagels, and breakfast sandwiches.
Although Dunkin’ can be considered a breakfast spot, you would be surprised at the number of customers freely flowing through their establishment at all hours of the day. It fits their slogan, “America Runs on Dunkin.” Most locations operate 24 hours per day, according to the Dunkin’ terms and conditions.
Dunkin’ is an intelligent franchise option for the franchisor who is financially equipped to cough up the initial costs and fees, is community-oriented, has knowledge of food services, and can efficiently clear a 5 a.m customer line outside the door.
3. Taco Bell
Taco Bell is another highly recognized fast-food franchise. As one of the world’s most prominent Mexican-inspired cuisine vendors, You can find more than 7,000 Taco Bell locations in 30 countries. This is one of the reasons why it would be an excellent investment to open a Taco Bell franchise in a trendy place.
Upon placing an application and getting approved, you will participate in Taco Bell’s franchise training program, where you will learn how to run your new franchise smoothly for several weeks.
Taco Bell strives to ensure that opening one of their franchises is easy and seamless — so for those who want an easy transition into the world of the franchisor, Taco Bell would be an excellent option for you.
4. The UPS Store
Owning a UPS Store franchise can be considered a small business with a premade framework. This is the perfect franchise opportunity for entrepreneurs looking to manage a smaller-scale packing and shipping franchise, all while backed by a major brand.
With more than 5,000 locations across the U.S., The UPS Store franchise has been around for 40+ years and is still going strong. They have developed their training systems, guidelines, and national advertising campaigns for you to have a seamless transition into their company.
Another exceptional quality of owning a UPS Store franchise is that about 52% of their franchise network owns more than one center.
To entice existing franchise owners even further, The UPS Store brand claims to offer reduced franchise fees and lower initial upfront costs, which poses a golden opportunity for expansion.
5. Orangetheory Fitness
Group workout studios are a booming business in the franchise world right now. The drive to participate in a high-intense interval training session with other motivated individuals gets the endorphins going and attracts people of all shapes and sizes.
Orangetheory Fitness is the place you are looking for.
Orangetheory’s franchising requirements are significantly lower than that of Mcdonald’s, Dunkin, and Taco Bell, which makes it an excellent franchise idea for individuals with a lower bandwidth to play with.
6. Kumon Learning Centers
The Kumon Learning Center franchise aims to help students learn and practice the critical math and reading skills they need for the complex concepts of the current education curriculums. Along with homework help and after-school care, Kumon provides enrichment to students to further their education and knowledge.
The Kumon Learning Center also provides a good franchise opportunity to individuals who strive to add value to their community, especially those who are family oriented.
This franchise is an excellent investment because they have low-cost entry and are in high demand. You cannot go wrong with this franchise.
7. Popeyes Louisiana Kitchen
Another top fast-food franchise in the U.S. is Popeyes Louisiana Kitchen, which boasts unforgettable fried chicken that is affordable, ready to eat on the go, and satisfying. Purveying the southern kitchen, Popeyes is known for its New Orleans-style meals and delivers comparable flavors.
One of the country’s most popular fast food chains, you can find Popeyes Louisiana Kitchen at more than 2,400 locations. Opening a Popeyes is no small feat, which is why there are fewer Popeye locations than your typical fast food franchise. There are high initial costs and ongoing fees, and you will also need to meet the company’s net worth and liquid capital requirements.
8. Planet Fitness
With their distinct branding colors, purple and yellow, you have probably seen a Planet Fitness franchise more than once in your life or even signed up to be a member. Planet Fitness would be a good franchise opportunity because many individuals are interested in living healthier lives nowadays and want it at lower costs.
Gyms are typically a complex industry to break into, but Planet Fitness tailors their gym to first-timers looking for low membership fees and sign-up costs.
This franchise investment can be comparable to large fast-food franchises in liquid capital requirements, net worth requirements, and initial investment costs. If you meet all the requirements and want to bring a well-branded gym to a specific area, this franchise opportunity would be perfect for you.
Can owning a franchise be a good investment?
Since franchises already have a solid corporate and management framework, as well as guidelines that are in place around all aspects of the business — including marketing, merchandising, and production — owning a franchise can be an excellent option for those who have the means to purchase one.
Across several different sectors, you will find many franchise opportunities. For notable brands, franchising allows them to leap into a real estate business model — business owners can increase their brand recognition, expand their geographical reach, and increase the ratio of their profits-to-total investments by implementing successful franchises.
We have chosen eight of the best franchise opportunities in 2022, most of which attract high volumes of customers, are well-known, and have proven successful.
If you are interested in any particular franchise, consult each company for exact details on purchasing one of their franchise businesses.
The bottom line.
A common thread you will find while looking for the best franchise opportunities is that many well-branded companies want your business and are willing to provide comprehensive training and support.
You can find low-cost franchise opportunities, especially considering the possible returns you’ll get for the startup cost, initial franchise fee, and recurring royalty fees. Other examples of franchised businesses include:
- Cleaning franchises (home-based or commercial cleaning)
- Convenience stores
- Hair salons (like Great Clips)
- Automotive shops
- Senior care services franchises
- Travel agencies (including cruise planners in coastal areas)
A franchise is an excellent route for entrepreneurs with the capital, upfront investment, and time to take training sessions.
In the market for new business opportunities but don’t know where to start? We have the answers for you.