According to recent statistics, the home services market is expected to grow as much as 19% from 2019 to 2026, and although the pandemic put a slight kink in its continued growth, it quickly rebounded and has been climbing steadily since. As a whole, the home services sector makes up a $600 billion market, driven by a variety of factors including ease of online booking, the natural decline of appliances and home systems, homebuyers looking to build equity, the average homeowner having less time to attend to things themselves, and an aging Baby Boomers population.
Baby Boomers currently control as much as 70% of the disposable income in the US, with 45% or more having combined household earnings of over $100k.
With the highest earners in the country also being the ones with the most income to burn and the least time to spare, the demand for home services will likely experience unparalleled growth.
When you add to it that the same aging population will soon need elderly home health care services, there is really no reason to believe that home services will reach their full potential or shrink in the near or long term, making it one of the safest franchise bets. But not all home services are equally profitable or easy to break into. The home service that you choose will be a great determinant of success.
Before home services began franchising, it was an industry that was marketed by independent business owners running and operating their practice with a few workers or apprentices underneath them to ultimately carry on the company name and brand. Therefore, in the past, the only way to become a part of the home services industry was to be trained in a specific trade area.
Home service franchises differ because anyone can own a franchise in the home service industry without having any background, certification, or skills in the market. Most home service franchisors are willing to provide enough support, training, and instruction to enable anyone to become an owner and be successful, pending an entrepreneurial proclivity.
Home service franchises also come in a variety of different operational models, from absentee to semi-absentee to owner-operator, depending on the involvement you want to have, your background and skill, and your level of time commitment, making it a viable opportunity for the average investor. With so many different types of home services to choose from and levels of both money and time required, there is likely an option for everyone at some level.
There are hundreds to thousands of home franchise opportunities to consider, each with advantages and disadvantages as well as minimum requirements. Overall, however, some franchises appear to be leading the charge as we head into a new year.
What is more attractive than harvesting your own energy and not being beholden to paying utilities? Plus, if you harvest the energy via solar, you can sell “back” the energy you have saved up. Solar power is just beginning to go mainstream due to people’s desire for independence as well as being eco-friendly. Solar Grids is currently the largest solar franchisor globally. It also offers three different franchise models to choose from.
The first option is to begin an installation franchise where the franchise itself handles the sales side, the permitting, provides equipment, and they also take care of the utility approval. The other option is to begin as a sales franchise, focusing only on selling the system. Finally, you can operate both the sales and the installation.
Solar Grids currently has 50 franchise locations around the US, so competition remains low. With the advances in solar power and public information about its advantages, it is expected that as many as one in seven homes will opt for solar power by 2030. Even more convincing, it is a recession-proof industry, so even if the economy gets worse, people will be searching for options that put them in a position where they can feel secure that they own their source of energy and aren’t beholden to price fluctuations. There are also no training or skill requirements for any level of involvement in the franchise.
Even more attractive, the minimum cash requirement is $50k with a franchise fee of $50k and a total investment range of $25 - $110k, making it a realistic option for the average investor.
Budget Blinds is a recognized window treatment company that specializes in blinds, shutters, smart home solutions, shades, and drapes. They are not new to the home services industry; they have had a well-established reputation for more than 30 years.
When you become a Budget Blinds franchise owner, you can operate a scalable home-based business and deliver a high-quality product with nationwide brand recognition. Currently, Budget Blinds has over 1400 territories and they continue to provide innovative products, marketing, and advertising to grow their individual franchise units.
The current global market size of window coverings was about $10.8 billion three years ago with projections that it will grow from $12.4 to $17.4 billion from 2020 to 2028, meaning that it doesn’t seem likely there will be a slowdown anytime soon. Budget Blinds has a minimum cash requirement of $84,500 with a total investment of anywhere from $140k - $211k, so although it does take a healthy investment, it is still within range for the average investor.
Weed Man is slated to be one of the top ten home services franchises in 2023. They’ve been in business for more than 50 years, serving over half a million customers and taking in more than $213 million in sales. The Weed Man service provides lawn care services that are environmentally friendly, along with fertilization and pest management. Forbes Magazine named Weed Man the number-one franchise to invest in, and it has been ranked #1 in service by FBR.
Americans spend over $81 billion on lawn care services annually, with 40% hiring a lawn care or landscaping company to care for their yard, which makes it a viable option both currently and well into the future. Weed Man is also an opportunity where all of the training and support are supplied. The liquid capital requirement for ownership is $100k, with a total investment of anywhere from $50k-$80k.
Over the past several decades, it has become increasingly difficult to find inexpensive options for appliance repair. Mr. Appliance has been franchising since 1996, which means that they have a well-established brand and name recognition as an appliance repair leader. Mr. Appliance has consistently been ranked highly among the top home services franchises in the nation. It requires absolutely no training and has very little competition.
As we head into 2023, if the cost of living continues to soar and disposable income continues to shrink, more people will be looking for options to repair versus buy new. Without many competitors in the appliance repair service industry, Mr. Appliance is slated to be a top earner.
Unlike other franchise opportunities, the owners have the choice of either having a brick-and-mortar establishment or working from home. They offer comprehensive guidance and training and complete marketing and promotional support. The minimum cash required to own a Mr. Appliance franchise is $50k, with a franchise fee of $35k and a net worth of $150k. The total investment is anywhere from $60k - $140k.
If there is one home service that is experiencing a heyday, it is the handyman sector. Originally founded in 1998, for over 20 years, Ace Handyman Services - formerly Handyman Matters - has been consistently in the top ten franchises to invest in. Tied to the “Ace” hardware store, the brand is an iconic symbol of the original hardware store. Their services consistently rate a 4.8 out of 5, and they currently have 313 territories and counting.
Owning Ace Handyman Services allows you to switch gears without any technical skills or training background. They tout a 16-week plan for taking it from start to open. Where once there was an Ace Hardware Store on every corner helping homeowners to do it themselves, the new movement is toward hiring handymen to take care of everything from electrical to plumbing work. The estimated earnings for an Ace Handyman franchise owner is about $140k a year.
Although slightly higher than other home service franchise opportunities, the Ace Handyman franchise requires an investment range of about $112k - $160k, with a starting net worth of $250k. The biggest drawback is that the only operating model is an owner/operator, so it isn’t a franchise where the owner can pursue other employment options outside of ownership.
Mister Sparky is a franchise where the owners retain 100% of their business ownership and they have been franchising since 2006. They currently have over 100 locations across the nation and are the largest consumer electrical franchise operator in the US.
The franchise offers fully trained certified electricians to home and business owners who have electrical issues. Mister Sparky prides itself on customer service and has a 100% satisfaction guarantee and a strict code of ethics, handling everything from small electrical issues to larger electrical upgrades and more.
Mister Sparky is attractive because they offer upfront pricing and employ local certified electricians and emergency electrical services 24/7. They also have an “on time” guarantee, which means that they won’t let their customers sit and wait in an emergency. The total investment to become a Mister Sparky franchise owner is $50k to $250k, with a total investment of $81k to $191k. The minimum net worth is $250k, which is higher than other top ten home services franchises.
Mosquitoes have always been irritating and can ruin anyone’s good time, but in the wake of the pandemic and people being more aware of disease transmission and illness, people are searching for viable options to keep mosquitoes at bay. Mosquito Joe came on the scene just a few years ago, offering mosquito spraying that lasts up to 30 days post-application.
To become a franchise owner, you don’t need any industry knowledge or training. The low-cost investment combined with comprehensive training and support make it a viable business for the average investor. There is no office space required, and if you are willing to travel, there is a season for everyone.
To date, Mosquito Joe is the latest service franchise covering nearly $2 billion in sales, which is just the tip of the iceberg. There is no indication that the demand for pest control will end anytime soon; it’s more likely to grow as fears of West Nile, Zika, and other transmittable diseases become growing threats around the world.
The minimum cash requirement of owning a Mosquito Joe franchise is $50k with a net worth threshold of $250k and a total investment of $100 to $150k, making it a mid-range franchise investment to consider.
Koala Insulation was first established in 2018 as an eco-friendly company committed to reducing energy costs and homeowners’ carbon footprint. Koala Insulation provides insulation products for both home and business owners with a spray and blown foam insulation product that can save the average property owner anywhere from 5% to 10% annually on their heating and cooling costs.
The goal of Koala Insulation is altruistic in attempting to reduce greenhouse gas emissions for businesses and homeowners in the US, and they provide a lifetime warranty and yearly inspections to those who invest to prove their cost savings from year to year.
Koala Insulation has a proprietary product that is both fire- and pest-resistant, which is very attractive to property owners looking for eco-friendly pest control means and a way to reduce their energy consumption.
They offer scalability that allows owners to either have a semi-absentee or owner-operator model approach. Owners are not required to have any industry training or knowledge to excel; all the training and support are provided to get operations up and running.
The minimum cash requirement to buy a Koala Insulation franchise is $100k, with a net worth requirement of $250k and a total investment that ranges from $120k to $160k. They offer both single and multi-unit offerings, with the goal that owners move into a multi-unit operation.
Whether it is auto, home, or business glass, the Glass Doctor is on call to take care of your needs. Glass Doctor can repair windows, storefront glass, and automotive windshields and comes straight to the consumer. Originally established in 1962, the franchise got started in 1977.
They continue to be the industry leader for glass of all types and offer comprehensive training and assistance to franchise owners. Their online support, including easy scheduling, allows franchise owners and employees to manage their tech-savvy business, which ends up saving everyone time and being extremely attractive to busy consumers.
The franchise does not require any skill or training and they offer hands-on instruction and ongoing guidance for their franchise owners. They also have a third-party hiring platform with digital and brand marketing offered at a corporate level. To own and operate a Glass Doctor franchise, you need to have a minimum of $50k liquid cash and a net worth of $150k. The overall total investment is anywhere from $158k to $300k, making it on the higher end of investment opportunities.
If there is one trade market that gets a poor reputation for honesty, it is roofing - which is why Honest Abe Roofing is both ironic and a great business model. Honest Abe Roofing has consistently won the trust and accolades of customers. It is a sales-focused franchise opportunity where franchise owners are independent sales professionals.
Honest Abe Roofing has $2 plus million average sales per owner, with the top performer earning close to $7 million. They offer training and support, meaning that franchise owners can come from any background without any skill or industry expertise. The franchise also offers the reputation of the Honest Abe Roofing name, financing solutions, and a recession-proof plan for growth in both the near and long term.
A franchise with Honest Abe Roofing requires that you have a minimum of $70k liquid cash, a net worth upwards of $200k, and a total investment that ranges from $116k to $361k, making it a middle-of-the-road opportunity.
As we head into a new year, many are looking to switch things up and take a different path. Although going it alone and starting your own business comes with a lot of risks, franchises involve slightly less risk with a proven business model for success. Many factors are in play, including a growing Baby Boomer population that will not only turn to home services out of lack of time, but will soon need home services related to elderly care.
There is no end of growth in sight or expectation that home services will soon be a thing of the past. Demand is projected to climb for the foreseeable future and well beyond.
If you are looking for an opportunity to begin the new year with a new you, then franchise ownership might be your ticket to financial and personal freedom in the future if you play your cards right. Which franchise is right for you? It depends on a variety of both professional and personal factors.
Undoubtedly, the best place to begin investigating is by tapping into Frannexus’s industry expertise and proven track record for matching franchise owners with the best franchise opportunities possible. Contact us today to get started on a lucrative 2023!
According to recent statistics, 45% of Americans go out to eat multiple times a week, with 20% going at least once. This year alone, the projected annual sales of the restaurant industry will topple $865 billion, which is equal to 4% of America’s overall gross domestic product. In 2022, Americans will spend 33% of their income on housing, nearly 16% on transportation, and close to 13% on food. As we head into 2023, even with the soaring cost of living, the average American will most likely not cut back on their hunger for eating out.
The statistics for restaurant owners are not all that rosy. In 2023, it is estimated that 60% of all restaurant start-ups will not make it financially to their first-year mark, with a whopping 80% not finding success in the first five years of operations. Fast-food restaurants make up the largest segment of the franchising industry by generating $241 billion dollars, and restaurant franchise owners earn an average of $82k a year. As we head into a new year, should you resolve to find a franchise to start accumulating wealth and find a better work/life balance? And if the answer is yes, which franchises are the best to consider for the year ahead?
There is no doubt that franchise restaurants have a much higher likelihood of success than new start-ups due to their proven business model, varying levels of support, and brand-name recognition and loyalty, but they don’t all find the same rewards for owners.
The key to finding the most lucrative restaurant to invest in is finding one that is within your means and that fits your goals, personality style, and the time you have available to spend. Heading into 2023, these are the restaurants to pay attention to and perhaps consider investing in for a prosperous future.
McDonald’s is more of an American icon than baseball and apple pie, and it doesn’t seem that the chain will experience a slow-down anytime soon. Forecasts say that the ever-popular fast-food franchise will not only survive; it is positioned to hit a new high. Due to reduced sales over the previous couple of years, the organization has put it in high gear to enhance its brand and be more competitive.
Changes include accepting Apple Pay, offering perks and coupons for joining their online app, and keeping lines moving with their self-order kiosks, which have made huge strides for an entirely new audience. Although they require a minimum of $500k in liquid assets for an owner to even apply which will price many out of the startup business loan sector, the total that you have to invest can vary from location to location.
The initial fee is the same no matter where you land: $45k, with the pre-opening and equipment costs typically being in the $1.5M - $2.5M range. It might not be an option for all, but if it is one for you, it is worth investigating!
The slogan “American runs on Dunkin’” isn’t just a catchy phrase. When they dropped the Donuts and began to focus on refreshments as an alternative to coffee, switched to a more sustainable platform, and tapped into healthier choices, they found a new, more diverse calling.
They continue to excel in offering less expensive coffee options than Starbucks. Like McDonald’s, however, it takes liquidity to make liquid in this case. It isn’t quite as expensive as other restaurant franchises in comparison, though.
Another American mainstay looks like it is going to be sticking around indefinitely. A Taco Bell franchise allows you to be a full owner and will be continually upgrading, innovating, revamping, and adapting to changing attitudes and tastes. The franchise is one of the best to offer support and take advantage of bulk purchasing for food and paper supplies.
They also provide the marketing and advertising that individual units need to excel. Although the company is upgrading its brand and doing some major overhauls on consumer perceptions, it is still one of the most highly recognized brands in the US and beyond. Currently, there are over 350 franchise owners, and it requires an initial investment of anywhere from $525k to $2.6M and beyond.
A throwback to the fifties-style diner, Sonic Drive-In is gaining leverage in the fast-food industry. They provide world-class training and support that starts the minute you sign on the dotted line. The organization helps with site selection, construction and design, grand opening promotions, and ongoing support for as long as you are a Sonic Drive-In franchise owner.
What sets Sonic Drive-In apart from other fast-food drive-ins is its commitment to friendly customer service, which has allowed them to experience some significant growth. Brand recognition has been fostered over the past several years, with more franchises opening and enhanced marketing and advertising support.
The average owner saw an increase in profits in 2012 from $1.1M to $1.3 million in 2017. The original fees are just $45k and the overall initial investment is anywhere from $1.1M to $2.4M.
Americans can’t get enough wings, and East Coast Wings & Grills is just one of their favorites. The restaurant is known for its full-service dining and casual atmosphere, not to mention its award-winning restaurant concept. The first East Coast Wings & Grill was opened in Winston-Salem, NC in 1995 by two guys who thought they could do wings better.
The restaurant is heavily focused on sports and has over 60 different wing flavors to choose from, with the food being prepared on-site daily. It has earned a positive rating for those who have taken a chance on opening their own unit and maintained a strong sales-to-investment ratio. You have to have liquid capital totaling more than $150k to even be considered, with a total investment needed of $680k - $1.2M
Breakfast food offers the highest rate of return of any meal served throughout the day. Another Broken Egg Cafe is a Southern-based company that offers breakfast, lunch, and brunch. Originally founded in Louisiana in 1996, it has been growing strong ever since. The key to their success is the chef-inspired food offerings that use traditional breakfast foods but adds a spicy twist that caters to adventurous foodies and non-adventurous alike.
Since they began franchising in 2004, they have grown to over 70 different locations in more than a dozen states, with an average sales projection of $1.4 million at each location. The initial cost for investment, however, is nothing to sneeze at.
You need a minimum of $800,000 to open one unit, have the means to open an additional three stores, and they favor people who have a net worth starting at $1.5M. If you have the means, then you should consider opening another one, and another one…
The world has embraced Mediterranean food - not just because of its known health benefits, but because it tastes amazing! The motto of Taziki’s Mediterranean Cafe is “to bring Mediterranean dining to every neighborhood across the country,” and they are well on their way. The brand is a combination of Mediterranean and Greek dishes that tout fresh and healthy ingredients.
Its casual and family-friendly ambiance makes it less of a “fast” food and more of a sit-and-enjoy one. The brand started franchising in 2013 and now has over 91 locations around the nation.
Taziki’s Mediterranean Cafe has shown steady and proven profit growth and has a reputation of goodwill for giving back to the communities that they serve. The initial investment is somewhere around $460k - $830k or over without a cash requirement, which makes it possible for the average Joe to be an owner.
Checkers & Rally’s has been in the fast-food industry and holding its own since it was founded in 1986 and subsequently franchised in 1989. It is to date the largest double drive-in in the US. Their brand exemplifies the principles of being highly efficient, maintaining a high cash flow, and having an eco-friendly footprint.
The chain can operate in one of three ways, drive-thru, carry-out, or walk-through. It is also known for its design, which allows for quick construction and reduced development costs. An owner must have $250k cash on hand with an initial investment of anywhere from $725k - $2.0M to be considered.
Culvers believes that “it’s a better brand of beef that makes the Culver burger better,” and of course, they believe in custard for all! The chain is committed to offering specialty burgers and has been a staple in the Midwest, particularly in Wisconsin, since it was founded in 1984.
There are over 800 current locations across the US. One of the advantages that Culver offers is comprehensive training that comes with a list of required guidelines to help maintain quality control. It is one of the most profitable fast-food chains in the industry.
The initial investment remains particularly high at anywhere from $2.5M to $5.5 and a cash requirement of $500k - $750k, but for those who have the means, the gross revenue is about $3.3M per unit.
A Southern-based fast-food restaurant that has exploded across the nation is Chick-Fil-A. It is quickly becoming as much of a staple in households as the likes of McDonald’s. Chick-Fil-A has a slightly unorthodox franchise model, whereby the owners technically don’t “own” their location. They also are full-time operators and managers at their particular units.
The start-up of a Chick-Fit-A only takes an upfront investment of $10k, but there are very strict standards that an “owner” must live up to professionally, personally, and religiously. So, why would anyone want to invest in being a Chick-Fil-A franchise owner?
The price can’t be beat and allows the average wage-earner an opportunity to be a business owner. For those who put in the hard work and commitment, the average salary is anywhere from about $200k or more. The biggest drawback is that once you are done and want to retire, you have nothing to sell or recoup for all of your years of ownership.
Domino’s Pizza first made its name as the fastest pizza delivery, guaranteed. They now have over 17,000 locations worldwide. The story behind Domino’s started in a small town in Michigan with two brothers and an idea to make pizza that was both quick and good.
Domino’s has a franchise brand and recognition that allows them to thrive in the industry, and the estimated franchise fee is minimal at $25k with an initial investment upfront anywhere from $150k to over $500k. For those who take the plunge to be a franchise owner, however, the rewards are ownership and an average salary of $95k annually.
The Tropical Smoothie Cafe has been making steady and consistent strides in the fast-food industry since it came on the scene in 1997. They now have over a thousand franchises across the US. Their brand relies on fresh ingredients and light taste. The bright and tropical decor lends to the health-conscious menu, and they set themselves apart from other fast foods by straying away from burgers and fried foods.
The franchise fee to open a Tropical Smoothie Cafe is just $30k, with the average cost to start up a franchise totaling around $400k. As Americans’ tastes grow for healthier alternatives, many will be looking to franchises like Tropical Smoothie Cafe for a better option over many fast-food chains.
DelTaco is where American Mexican meets traditional Mexican. It has been selling tacos to the public since the 1960s, along with 24-cent burgers. Currently, there are over 600 locations in the Midwest, South, and West. DelTaco is a brand that is known for cheap deals and an entire menu section that is under $2, which will sit well with many Americans as we head into a time of soaring costs of living.
Whether you like burritos, crispy chicken, or their guacamole, you are sure to love the cost of dinner for the entire family. The franchise fee to try your hand at ownership is low at $35k and you need a total net investment upfront of anywhere from $800k - $2M.
If you have not heard of Friendly’s, you are not alone. The franchise has remained small and centered on the East Coast, although it started in 1935 as an ice cream shop. Friendly’s is the epitome of family-friendly, fair-priced, and popular American foods. Recently, Friendly’s switched ownership, so there are hopes that the new leaders will try to branch out more and grow as a thriving franchise.
People enjoy their signature ice cream flavors and iconic look, and the territories for locations are wide-open. To own your own Friendly’s restaurant, you need to pay an initial franchise fee of $35k with a total investment of anywhere from $140k upwards of $1.9M, so there is a wide range of ways to invest.
As we head into 2023, many will resolve to start a new business and enjoy wealth accumulation and a better work/life balance in the year ahead. If you are looking to open a new business, then consider a restaurant franchise. Forecasts for the year ahead seem to mimic the growth of fast-food consumption and the desire for new flavors and healthier choices, along with the same old classics. For help deciding what type and which franchise suits your goals and needs best, the experts at Frannexus are here to help. Contact us today and start the New Year in a whole new direction.
New Year’s is a time to reflect on where you are and where you want to be. If you are in a position where you feel undervalued, have no potential to excel, or are just plain unhappy, then 2023 might be your year to be a business owner and begin to accumulate wealth for yourself and future generations.
Although most people shy away from opening a business due to the grim statistics about certain industries and their startup survival rates, franchise ownership is different. Franchise ownership comes with many benefits that you don’t get with traditional startups; chief among them is that you need little to no industry expertise, training, or knowledge to switch gears and try your hand at something you find exciting.
Franchise ownership doesn’t guarantee success, and the one that you choose is critical for both your personal and economic success and fulfillment. With so many options to choose from, however, it can be overwhelming. The key to entering a lucrative market is doing your research, examining a franchise’s financials carefully, and understanding how much time, resources, and energy a franchise will take to make it successful.
According to the latest statistics, the Oil Change Service industry takes in over $9.9B in total revenue in the US. Many oil chain franchises gross nearly $250k a year, which means that the average owner can expect to earn anywhere from $75k to $80k in profits annually. And the oil change industry growth rate was expected to increase by over 6.3% last year alone. Overall, the market size has consistently grown an average of 5.3% per year from the years 2017 to 2022.
Forecasts for the upcoming years are just as encouraging, with the market size of oil projected to increase at a rate that is faster than the economy as a whole. One of the reasons that the oil change service industry is experiencing such an uptick in market growth is because the total number of miles that people travel continues to increase, making the demand higher for independent units both around the US and globally. Currently, the oil change service industry has a market size that has grown faster nationwide than any other service sector, except for Public Administration.
It used to be that car owners only had two options for an oil change: the dealership or do-it-yourself. Many people are enjoying the convenience of not having to schedule an appointment, high dealer prices, and long waiting times for service. If you are looking to start on a new lucrative path, then franchising might be the way to go. With competition rising for market share, however, it is important to thoroughly research the oil change service you are considering and see how it ranks against other similar establishments before deciding.
Among the most popular oil change service chains with the most brand recognition is Jiffy Lube. The franchise has been around since 1979 and began as a response to full-service gas stations going out of business in favor of the self-service model, leaving motorists with very few options for oil change service.
Jiffy Lube was originally owned by the founder and independent proprietor and later acquired by Pennzoil-Quaker State Co. in the 1990s, and then it switched hands again to the Shell Oil Company in 2002. The franchise fee for a Jiffy Lube is $35k with a total investment of upwards of $70k, but you get the brand name and marketing that comes with one of the largest and best-known oil change providers in the nation.
Valvoline isn’t just an oil change service; they are the makers and distributors of oil in the US. Created in 1968, Valvoline purchased quick-lube centers located throughout New York, Michigan, and Minneapolis. It wasn’t until 1988 that the company began to allow franchising.
The concept that Valvoline sells that others don’t is that they started with the Valvoline name as an established oil product. Today there are over 900 VIOC locations that run from East to West Coast serving over nine million motorists. The initial investment to buy into the Valvoline franchise is more than $162k, with a franchise fee of $30k.
The Meineke Car Care Center falls within the oil change service sector, but they provide more than just oil changes. Meineke has become synonymous with car repair, with over 92% of polled Americans familiar with the brand. It is a company that has held a good share of the automotive repair industry for 45+ years and has over 1,000 locations.
The annual sales for Meineke are over $327B and growing. Beyond oil changes, they also offer exhaust service, lube and oil, brake service, front alignment, strut and shock service, and many other automotive repairs. The company started as far back as the year 1972 and began franchising that same year.
Meineke is one of the more selective franchise establishments, requiring a net worth of over $1M and liquid assets that total $500k plus. The advantage that you get with owning a Meineke shop is that it isn’t just a share of the oil services market that you will dominate; you will have a good share of all car repair markets.
Take 5 Oil Change is one of the newest kids on the oil change service block. They differ from other oil change centers because they have a more hospitality-industry approach to their service. The business model of Take 5 is focused on making sure the customer experience is enjoyable rather than mundane.
Their drive-through oil change process is what has earned them over 500 locations that span over 18 different states. They have been growing steadily for 35 years and are one of the few options pre-COVID that allowed customers to stay put in their cars.
The Take 5 brand only hires friendly staff, and they are sticklers about time management and efficiency. There are also no upselling benefits; they provide free top-offs and military and rideshare discounts. The total investment to own a franchise is upwards of $210k with a franchise fee of $35k, making it a moderately-priced franchise to invest in.
The Luby Dudes brand has been around since 2018 and began franchising in 2020. The owner's dream was to provide a simple way for people to obtain regular car maintenance without an appointment. The franchise offers comprehensive training that encompasses over 30 years of automotive expertise and uses the best products in the oil change industry.
After just five years in the industry, the brand has grown to over 150 locations in 11 different countries. The total investment required to own a Luby Dudes is somewhere around $79k with a franchise fee that is below average at $25k.
Indy Lube is an oil change service that specializes in fluids for both the light industrial and passenger vehicle markets. The brand provides an upscale facility that has a full reception room, including television, so that customers can get comfortable. They also give a two-year and 24k-mile warranty on any service that they perform.
The Indy Lube full-service oil change isn’t just an oil change; it involves a 20-point fluid and safety check. The original Indy Lube began in 1986, with franchising starting in 1989. The total investment to own an Indy Lube franchise is around $250k with a franchise fee of $7500.
The Costa Oil brand identifies with exceptional quality customer service combined with quick oil changes - with the emphasis being on “quick” without sacrificing quality. They are designed with either one or two bays built from fabricated modular units which you can either purchase upfront or lease as an owner, depending on the investment you want and have to make.
They differ because they don’t believe in upselling to customers, especially when it comes to things that they don’t need. The total investment is on a sliding scale depending on the varying levels that you want to lease or purchase.
The Dipstx franchise offers more than just oil changes; they also have a tire rotation, brake pad inspection & replacement, filter replacement, and windshield wiper replacement services offered at every location.
The brand began in 2016 and started franchising in 2020. The difference that a Dipstx oil change service offers is that it is a mobile unit, so it is on the go. The allure of being able to bring oil change service to the customer is a convenience that many motorists appreciate.
When you become a franchise “owner,” technically you partner with Dipstix and they provide you with marketing and ongoing support. The total investment needed to buy a franchise is about $50k, making it one of the lowest of all oil change services with a franchise fee of $25k.
The Grease Monkey franchise not only does oil changes; they offer other motor repair services including air filters, air conditioning, battery, check engine light, fuel filter replacement, lighting, radiator services, and several other mechanic repairs and services. Grease Monkey was founded in 1978 and has been franchising since 1979.
From 2011 until 2020, the number of locations has skyrocketed from 245 to over 500. The average net sales of a Grease Monkey are $1.4M with over 2 million customers served in 2020 alone. You have to have a net worth of $450k and liquid cash of $250k to qualify for ownership, but with such a high rate of return on your investment, it might be one of your best options.
The SpeeDee Oil Change offers a signature 17-point oil change service and also has a host of other services that they offer including car tune-ups, brake, and tire alignments, etc. It operated as a subsidiary of Midas up until 2017, when it changed names to SpeeDee.
It was originally founded in 1980 and has been an established franchise since 1982, with the number of locations currently standing at over 100 both in the US and abroad. The financial requirements to own a SpeeDee Oil Change include having a net worth of over $450k, a credit score of 680 or more, and a cash investment of $250k. The franchise fee for owning a SpeeDee Oil Change is $39,900, with royalties of 6% and an advertising contribution of 6%.
Spicy Green is an environmentally sound franchise with a focus on eco-friendly oil change services. It also has add-ons like new filter services and car wash and interior detailing. The interior detailing includes a sanitizing and disinfecting service. The brand Spiffy Green places a heavy emphasis on its commitment to the environment by recycling tires and all other materials that it can.
Started in 2014, the Spiffy Green name has been going and growing strong ever since. Their proprietary technology safely recycles and removes oil and water and turns used tires into power. To buy a Spiffy Green franchise, you need a minimum of $50k in liquid cash and you can expect a total investment of anywhere from $100k - $200k. They offer a veterans discount of 10% off the franchise fee.
Just a few decades ago, there were only two main options for an oil change and that was to make an appointment with a dealership or to do it yourself. In the 1970s, as a response to gas prices and full-service centers converting to self-service, Jiffy Lube led the charge for quick oil changes without an appointment, and many others have since jumped on the bandwagon. If you want to make a change for the new year, then consider investing in an oil change service franchise.
The forecasts for growth look like they are pretty much recession-proof, so if you are going to invest in uncertain times, then an oil change business franchise might be your golden ticket. At Frannexus, we help match franchises with our clients' overall financial and personal goals to ensure that they have the best chance for success - in the coming year and beyond. Contact us today to discuss how we can make your franchise-owning dream a reality for 2023!
Although Americans usually identify with apple pie and baseball, they also love a good donut! According to the most recent statistics, the consumption of donuts has not only held steady for the past decade; it has continued to inch upwards. Global sales of donuts are currently estimated to be somewhere around $16 billion and are forecasted to reach nearly $20 billion by 2028. There are over 203 million donut lovers in the United States alone, with forecasts climbing to 207 million by 2024.
Almost 36% of people prefer donuts over other breakfast products, with muffins and bagels taking up 24% and 10% respectively. Although they’re heavily in demand, a donut still only costs about $4, but will likely keep pace with the cost of living increasing.
Most consumers (87%) prefer to get their donuts from national chains instead of getting them at the local grocery store, with the standard age of consumers being in the 30- to 49-year-old range. Right now, an average American will likely have about 31 donuts or more a year, with some eating two or three a month.
When looking for a franchise to buy, you want to find one that won’t come and go because they are a trend. Donuts have been around for decades and have only grown in popularity, without any indication that they will be going anywhere any time soon. That makes a donut franchise a great choice for stability and profitability for the average investor.
The old mainstays like Dunkin Donuts and Krispy Kreme will almost undoubtedly stick around, but there are some new kids on the block that you might want to research to find the best fit for you and your goals.
With the volatile nature of today’s economy and people pulling back on spending, they are still likely to splurge on the $5 treat. In fact, it will probably become an inexpensive self-treat. The donut business is about as close as possible to being recession-proof.
With newer flavors and recipes coming to market and boutique donut shops popping up, the market will only continue to branch out and attract more people. Finally, another reason that a donut franchise might be the best investment ever is that there are plenty of new franchises to choose from.
When it comes to brand recognition and popularity, you simply can’t beat Dunkin Donuts. America truly does run on Dunkin and frequently does daily, some even twice a day. They currently rank in the top position for brand loyalty and coffee and have for the past 14 years and counting.
Dunkin Donuts is also a forward-thinking company, catering to the Next Gen upgrades in 2018 by downgrading their stores with energy efficiency that cuts back on their carbon footprint by as much as 33%. They sell 3.3 billion holes and donuts yearly and have 70 different varieties to choose from.
Consumers also have the convenience of an app that gives you loyalty points and ordering ease that nearly 13 million people now use. Dunkin Donuts has been in existence since 1957 and currently has 12,900 outlets and growing.
The requirements to own a Dunkin franchise are that you have $250k in liquid assets and a total net worth of $500k. Startup costs are anywhere from $100k to $1.6 million depending on real estate, with franchise fees being anywhere from $40-90k and varying by location.
Krispy Kreme found a following by turning on their fresh donut sign to tell their customers when the donuts were fresh out of the oven. Their brand loyalty is tied to their desire to offer superior quality customer taste and consistency. Their Original Glazed Doughnut recipe was first used in 1937 and although altered slightly, it really hasn’t changed in 80 years.
Krispy Kreme prides itself on delivering the freshest doughnuts on the market; unlike other doughnut chains, they make doughnuts twice a day to increase the fresh factor for customers. Franchises have been around since 1947 and have grown to over 1,600 outlets. A Krispy Kreme franchise requires a liquid capital investment of $300k and a total net worth of $2M. The franchise fees run anywhere from $12.5-$25k with royalty fees of 4.5%.
Shipley Do-Nuts offers over 60 different varieties of donuts, which all start with potato and whole wheat flour. Shipley also offers kolaches, which is a pastry that is filled with cheese, meat, eggs, etc. as a “pigs in a blanket” option. SHIPLEY stands for service, hospitality, integrity, passion, leadership, energy, and yummy, and has been franchising since 1987.
It originally started in Houston but has spread to nine additional states and counting.
Those who want to own a Shipley Do-Nuts franchise require $200k with a net worth of $600k. The franchise fees are about $35k, with a total investment of anywhere from $440k to $700k.
A hippie spin on the donut tradition is the vibe of Peace Love & Little Donuts. Providing just a bite, they are smaller than traditional donuts, and good things really do come in small packages! The peace sign of their logo is followed throughout the decor.
Originally founded in 2009, they began franchising in 2016. There are now 30+ outlets in the US. The initial investment required is $121k to $235k, with an initial franchise fee of $40k. From there, royalty fees total 6%, with an additional advertising fee of 1%.
Ollie the duck is the brand symbol for Duck Donuts. It offers signature vanilla cake donuts that are not made until a customer orders them. From here, you can add on different sugars and glazes with toppings galore.
Duck Donuts has been around since 2016 with the number of outlets growing to more than 120 throughout the US. It is the custom-designed donut options that really keep people coming back for more.
To be a franchise owner, you need a minimum of $155k liquid capital, a total investment of about $300k to $475k, and a minimum net worth of $350k.
Straight out of LA, the original Randy’s dates back to 1952 and was made popular by celebrity stop-ins. They just began their franchising opportunities and are popping up all around Southern California.
Randy’s offers 57 various flavors of donuts and they are all handmade, not with a machine rollout. Currently, their reach is about 13,000 donuts sold daily, and they have 20 locations in the US. The iconic oversized rooftop donut is the donut equivalent of McDonald’s golden arches.
The starting investment needed to open a Randy’s Donut location is $365k, with a net worth requirement of $1M and liquid cash requirement of $300k. The initial fees are $35k with an ongoing royalty fee of 5% and advertising fees of 2%.
DonutNV is a satellite mobile unit selling hot mini donuts straight out of the cooker and is jumping on the food truck mania bandwagon. They go to different events, festivals, and fairs and usually have local stations when they aren’t in transit.
The allure of DonutNV for many franchise owners is that you get to work when you want and take off when you want, which is a great way to find work/life balance. They have just 12 locations and growing, so now is a great time to get in. You need liquid capital of $50k and a net worth of $250k to become a franchise owner, with a total investment of anywhere from $175k to $245k and a franchise fee of $49,500.
A true grassroots company, the Hurts Donut Company was the brainchild of a husband and wife team. After buying all of their equipment used from Craigslist and teaching themselves, they had about $7 remaining. They offer 70 varieties of oversized donuts. Franchising since 2015, they no longer only have $7 to their name.
The total initial investment to become a franchise owner is anywhere from $502k to $819k, with an initial franchise fee of $35k, a net worth of $500k, and a cash requirement of $250k. They do offer a 10% franchise fee discount for veterans, and all the ongoing royalty fees are 7% with advertising fees of 2%.
Doughnuttery differs not because they offer hot and fresh, but more for their mini design, proprietary sugar concoctions, and exotic and unique ingredients. Growing steadily since they began franchising in 2018, they are one to watch where you can get in on the ground floor.
The initial franchise fees are $30k, with a total investment of anywhere from $175k to $321k. You need a minimum net worth of $500k and a cash requirement of $250k. The royalty fees are 6% with an additional ad royalty fee of 2%.
One of the newest and greatest kids on the donut block is The Donut Experiment - and guess what? The experiment worked, and it’s a hit! It may not be exactly new - the Donut Experiment has ten years and counting under its success belt. Unlike other donut chains, it prides itself on being a “boutique-style coffee and donut” shop.
The donuts are all made fresh, visible to customers who can hand-pick which toppings they want. The Donut Experiment’s donuts are considered “cake-based” as opposed to other donut makers who are yeast-based, with the market being about 50-50 of each.
Another main feature of The Donut Experiment is that they are heavily focused on community and get involved in events and festivals by putting their catering capacity to work. They also have delivery, catering, and made-to-order options for both their donuts and coffee bar selection of cappuccinos, hot lattes, and espressos.
The franchise is very involved throughout the real estate selection, build, and operational stages. They also help with marketing and branding, using social media and other types of targeted promotions and loyalty programs. And they are committed to helping train and retain talent by assisting with all aspects of staffing.
The franchise is a semi-absentee business model or an owner-operator one, which means you can either own and operate the franchise or take a backseat approach. Owners are required to have a liquid investment of $100k and a minimum net worth of over $550k with an overall investment of between $275k and $330k with hopes that owners will branch out to more units.
If you are looking for a franchise to invest in, donuts are the way to go. America has had a taste for donuts for decades, and the craving for them doesn’t seem to be going anywhere.
The key to being a successful franchise owner is finding an option that is recession-proof and one that offers good growth prospects for your individual wealth. Whether it is Dunkin Donuts or one of the many other donut franchise opportunities, there is probably one calling your name. Contact Frannexus to get started on your new venture with a donut franchise or one of the many, many other opportunities out there today!
Dining out is one of those things that went by the wayside, and it wasn’t just about eating square meals; we missed the little treats, too, like stopping for ice cream or cookies.
Although most of us are happy to have things back to pre-COVID, not everyone enjoys the daily grind. Many workers who prefer the freedom and work/life balance of remote working and other flex positions aren’t too excited about being back in the nine-to-five regimen. If you are one of them and want something different in your new normal, then opening a business is one of the only ways to accumulate the wealth that can provide you with a secure financial future.
One of the best ways to become a boss and enjoy all the advantages that come with ownership is to start a business. But with economic times still being somewhat uncertain, the prospect of starting a new business from scratch comes with both the usual inherent risks and an unpredictable economic recovery period. When you own a franchise, you aren’t starting from scratch; you are getting a proven playbook for success, and all you have to do is follow it. Franchises also come with the ability to find financing more easily because the risk of failure is lower. If you don’t have the capital to finance a new business start-up, franchising might be the perfect solution.
One franchise that is experiencing a boom in the dessert market is the Crumbl Cookie franchise. Their motto is “Bringing families and friends together over a box of the best cookies in the world,” which resonates in a post-pandemic atmosphere where it is all about gathering with loved ones again. Another plus of the Crumbl Cookie franchise is that, unlike other eateries where the menu rotates weekly, it devises an open-concept kitchen and a signature pink box. The concept is to provide an exclusive “gourmet” dessert experience that differs from other sweet shops.
One signature of the Crumbl Cookie franchise is the open-concept kitchen. Every cookie that comes out of the Crumbl Cookie kitchen does so under the watchful eye of the customers. You can watch the cookie-baking process from start to finish. Not only is it educational and fun, it ensures that every one of their franchise kitchens is spotless, sharp, and interactive. There is nothing more satisfying than smelling cookies fresh from the oven - unless it’s watching them go from dough to baked goodness with your own eyes.
Although predictability and consistency are usually trademarks for franchises around the globe, Crumbl Cookie is going for the predictability in the unpredictability of their menu. They have over 200 different varieties of flavors that come in forms such as pie, candy, cake, and unique and innovative sweets packages of all kinds. Any time a customer walks into Crumbl Cookie, they don’t know exactly what to expect - besides the freshest ingredients and the variety of choices that keep them coming back for more.
Not only is the menu of the Crumbl Cookie franchise innovative, but their unique tech-driven style is also designed to offer a flawless, convenient, and savvy customer experience from start to finish. With many different ways to order, pick up, deliver, ship, and cater, they can meet just about every need that someone would have for a tasty treat any time, day or night.
Jason McGowan and Sawyer Hemsley are cousins who teamed up to become the best bakers in the world but soon found that their baking was lackluster. So after spending all the dough, they had, both figuratively and literally, they decided to ask the masses what their “perfect cookie” looked like. They tried customer-inspired recipes, gained customer feedback, and invented the cure to the same old cookie. The process only grew from there. The pair wanted to give their loyal fans something new to mull over with every visit, so they went with the rotating menu to keep it lively.
The Crumbl Cookie franchise has only been around for about three years, but it has expanded to more than 40 states and well over 300 bakeries. The family-owned feel has remained intact. That makes it the fastest-growing cookie company in America, and there is no end in sight.
To open a Crumbl Cookie franchise, you need a minimum of $150k in liquidity.
Understand and Consider the Investment Required
Owners must consider the investment in real estate, equipment and signage, licenses and permits, uniforms, insurance, and marketing costs.
Since you have to go through an interview process, it is a good idea to consider whether you have the business experience necessary to qualify before you apply for franchise ownership.
Many available markets have already sold out, so it’s important to know what territorial limits there are in the location where you intend to open a franchise.
Before you can be considered, you have to submit an application that is reviewed by the Crumbl Cookie franchise team. You will receive a confirmation that your application has been received and a notification if you need to supply further documentation.
If your background check and financial situation are approved, then you will be notified that you have met the requirements.
Crumbl Cookie franchises have fees that can be anywhere from $25k up, with a total investment cost anywhere between $227k to $568k and a liquid cash requirement of $150k.
The Total Initial Investment for Crumbl Cookie is $227k - $568k, with ongoing royalty fees of 8% and ad royalty fees of 2%.
If you are ready to hop on the cookie bandwagon but do it differently, then a Crumbl Cookie franchise might be the perfect solution. Enjoy watching people’s faces light up with delight while offering something new every week. Being a Crumbl Cookie owner is not only a great way to accumulate wealth for your financial future; it’s also a fun way to enjoy a better work/life balance. For more information about how to become an owner, contact Frannexus to help walk you through the process to find out if Crumbl Cookie is right for you today!
As the world continues its post-pandemic recovery, we are all enjoying the return to gathering with friends and family and being out and about. One thing that not everyone is enjoying, however, is returning to the daily grind of the everyday work week. One positive that came from the COVID era was the flexibility that many employees had to work remotely.
Although being isolated was tough, it did allow us more time to spend with our families and a better work/life balance for average workers. Those who are not ready to go back to the status quo are considering other options, like becoming business owners, but that is not always feasible for everyone. Franchising is one option that gives everyone a way to become their own boss and call the shots.
The only real way to accumulate wealth is to stop trading hours of your life from making someone else wealthy. Being a business owner allows you the freedom to work when you want and enjoy the privileges that come with ownership; it is also a way to secure your financial freedom.
However, starting a business from scratch takes a great idea and entrepreneurism; it also takes capital and a business model that may or may not work. When you own a franchise, you are more likely to secure financing than you would for a start-up, and you are not going in blind; you are given the keys to success before you even put up the “open for business” sign.
Annual retail sales of coffee in the United States are more than $5 billion. According to statistics, coffee consumption nationwide is approximately 3 cups per day per person. And 47% of adults aged 18-24 years old report drinking coffee. Currently, coffee stands as the most loved non-alcoholic drink, with over 167 million bags of coffee being consumed just in 2020-2021.
In 2022, the average person spent $270 on coffee annually, and it is predicted that in a post-pandemic economy, by the year 2025, 21% of all coffee consumed will come from out-of-home vendors and venues. Coffee is one of those things that is nearly recession-proof.
Obviously, Starbucks and Dunkin’ Donuts are two of the most recognized coffee shops in America, but other up-and-coming coffee franchises are giving them a run for their money. If you are looking to open up a franchise, these are 10 of the best coffee franchises to invest in for 2022.
Going with the status quo isn’t always a bad thing. Originally started in 1946, today, there are nearly 13,000 Dunkin’ chains nationwide. Dunkin’ is in over 32 different countries and has over 70 different varieties of donuts to choose from.
The initial fee to open a Dunkin’ is anywhere from $40,000-90,000, with an initial investment of anywhere from about $500k to $1.8M. The net worth requirement of owning a Dunkin is $250k-$500k, with a veterans incentive of 20% off the franchise fee for the first five restaurants opened and owned. Royalty fees are 5.9%, and ad royalty fees are at 5% with a 20-year term agreement.
The franchise offers up to 165-255 hours of on-the-job training with anywhere from 45 to 52 hours of classroom instruction. They also provide ongoing support for purchasing, meetings and conventions, grand openings, field operations, newsletters, lease negotiations, proprietary software, online support, and safety and security procedures. The franchise also offers marketing support via advertising, ad templates, SEO, social and national media, loyalty app/program, email marketing, and website development.
Scooter’s Coffee is quickly gaining popularity around the nation. It requires an investment of $512k to $861k, with 341 units open as of 2021. Originally a Midwestern start-up, the first Scooter’s Coffee opened in 1998. They offer organic iced and hot teas, cold brews, single-origin coffee, and pastries. Scooter’s Coffee has a reputation for "amazing drinks and amazingly fast delivery" with high-quality standards.
The initial franchise fee for Scooter’s Coffee is about $40k, with an initial investment upwards of $787k to $1.3M. Scooter’s Coffee has a required net worth of $500k and an additional cash requirement of $200k. Like Dunkin’, they offer a veteran discount of $20,000 credit for the first year’s products. The franchise has a royalty fee of 6%, and an ad royalty fee of 2% and requires a 10-year term of the agreement.
The franchise offers 104 hours of on-the-job training and 56 hours of classroom instruction. They also offer ongoing support for a newsletter, grand opening, safety and security procedures, field operations, site selection, lease negotiation, online support, purchasing co-ops, and meetings and conventions. For marketing, they offer advertising, ad templates, social and national media, marketing planning and support SEO, website development, email marketing, and a loyalty app/program.
The Human Bean originally began in Ashland, Oregon in 1998. They have a farm-friendly direct program that is eco-conscious. They support sustainable growing, processing, and harvesting by rewarding farmers by giving above-market prices and then giving back to the community to fund improvement projects.
As of 2021, there were 121 units open. The initial franchise fee for the Human Bean is $30k, with an initial investment total of anywhere from $380k-905k and a net worth requirement of $500k-$1M, along with a cash requirement of $100k-$200k. The ad royalty fee is just 1%, with a 10-year term of the agreement.
The Human Bean provides 120 hours of on-the-job training and additional training as needed. They also offer ongoing support for a newsletter, purchasing co-op, meetings and conventions, grand opening, safety and security procedures, online support, proprietary software, lease negotiation, site selection, field operations, and franchise intranet. In terms of marketing support, the franchise offers advertising, ad templates, SEO, email marketing, social and national media, website development, and loyalty app/program.
The Biggby Coffee franchise originally started in Lansing, Michigan in 1999. They are known for their specialty coffees. The brand’s identity rests in its laid-back and casual atmosphere. Although they have baristas like other coffee shops, they are known to be less pretentious and have a more fun approach, with a motto of “leave in a better mood than they arrive in.” The initial franchise fee is just $20k, with an initial investment of $275k to $517k, and veterans get 50% off their franchise fees. The royalty fees for owning a Biggby Coffee are 6%, with an ad royalty fee of 3% and a term agreement of 10 years.
The Biggby Coffee franchise offers 150 on-the-job training hours with an additional 64 hours of classroom instruction. They also offer ongoing support in a newsletter, a toll-free line, online support, meetings and conventions, grand openings, safety and security procedures, proprietary software, field operations, site selection, lease negotiation, and a franchisee internet platform. Marketing support includes ongoing help with advertising, ad templates, social and national media, SEO, website development, loyalty app/program, and email marketing.
Ziggi’s Coffee was born in Longmont, Colorado, in 2004 and is known for offering a convenient cup of coffee that is consistently good. They have a double-sided drive-thru option and recently opened indoor cafes alongside their drive-thru combo. There are now over 25 Ziggi’s Coffee franchises in the US.
The initial franchise fee to own a Ziggi’s Coffee is $40k, with an initial investment of anywhere from $385k to $1.5M and a net worth requirement of $300k to $350k, along with a cash requirement of $150k-$200k. There is a 25% veterans discount for the first unit’s franchise fee. The franchise royalty fee is 6%, with an ad royalty fee of 1% and a 10-year term agreement.
Ziggi’s Coffee franchise offers 40 hours of on-the-job training with an additional 17 hours of classroom instruction. Their ongoing support includes a newsletter, meetings and conventions, online support, grand opening, lease negotiation, site selection, safety and security procedures, and field operations. Ongoing marketing support includes advertising, ad templates, social and national media, SEO, website development, email marketing, and loyalty app/program.
Ellianos Coffee also has a double-sided drive-thru for convenience and speed. They offer specialty coffees and have been around since 2002. As of 2021, there were 20 different Ellianos Coffee shops located in 35 states.
The initial franchise fee is $25k, with an initial investment of anywhere from $397k to $690k and net worth and cash requirements of $400k and $125k, respectively. The franchise royalty fee is 5%, with an ad royalty fee of 1% and a term of agreement of 10 years.
The franchise offers 76 hours of on-the-job training and an additional 10 hours of classroom instruction. They also offer ongoing support in a newsletter, purchasing co-ops, online support, grand opening, safety and security procedures, field operations, site selection, lease negotiation, and franchise intranet. Marketing support includes ad templates, social media, marketing planning, and support, website development, email marketing, SEO, and loyalty app/program.
CAFE2U is a mobile coffee company that offers coffee on the go - literally. It is a fairly inexpensive startup franchise that started in 2005 and now has hundreds of franchises around the globe. The franchise fees for CAFE2U are $25k, with online royalty fees of $175/week. The initial investment required is $109k to $154k, and a net worth requirement of $100k, with a liquid cash requirement of $25k and a 10-year agreement term.
The franchise offers one week of on-the-job training and an additional week of classroom instruction. It also offers ongoing support with newsletters, meetings and conventions, a toll-free line, online support, grand openings, safety and security procedures, and field operations. Their marketing support is ad templates.
Aroma Joe’s Coffee is a handcrafted beverage chain that offers quality coffee only from sustainable farmers. They use a 100% Arabica bean blend that is ethically sourced and has a distinct and full flavor. Founded in 2000, there are now more than 75 franchise units throughout the US.
The franchise fee for owning an Aroma Joe’s Coffee shop is $25k, with an initial investment of anywhere from $296k-$1.1M and a net worth requirement of $350k. There is also a cash requirement of $150k, with 50% off the first unit franchise fees as a veteran’s incentive program. The royalty fees are 8%, with ad royalty fees from 2.5% to 4.5% and a 20-year term agreement.
The Aroma Joe’s franchise offers 40 hours of on-the-job training with 31 additional hours of classroom instruction. Ongoing support is offered in a newsletter, grand opening, meetings, and conventions, safety and security procedures, proprietary software, field operations, site selection, franchise intranet, and lease negotiation. Marketing support includes advertising, ad templates, social and national media, SEO, email marketing, loyalty app/program, and website development.
CaffeBene is a European-based business that features a full menu of waffles, a roasted coffee shop, and interiors, all in one location. They grew to over 650 stores in its first four years of operation and now has over 1600 locations around the globe. Originally opening its doors in 1995, the franchise began offering opportunities in 2000.
The franchise fee is $35k with an initial investment of $414k-$899k and royalty fees of 6.9%. The franchise also has an ad royalty fee of 3% and a 10-year term of the agreement. They offer one week of classroom instruction with one week of on-the-job training and ongoing support in purchasing co-ops and meetings and conventions. The franchise marketing support provides national media.
Dating back to 1979, Gloria Jean’s Coffee has grown to over 800 locations around the world. It is known for its heavy emphasis on training programs, marketing, and ongoing support. Gloria Jean’s Coffee is an internationally recognized brand for its decades of delivering quality coffee.
The initial franchise fee for Gloria Jean’s Coffee is $15k-$25k, with an initial investment of anywhere from $173k-$473k. The net worth and cash requirements for owners are $200k-$350k and $150k, respectively. The franchise royalty fee is 6%, with an ad royalty fee of 2% and a term of agreement of up to 10 years. They offer 80 hours of on-the-job training and an additional 80 hours of classroom instruction.
The franchise also offers ongoing support for newsletters, meetings, and conventions, a toll-free line, online support, grand opening, safety and security procedures, lease negotiation, site selection, field operations, and proprietary software. The marketing support they offer includes ad templates, social and national media, website development, SEO, email marketing, and loyalty app/program.
As we head into a post-pandemic recovery period, it is nice to get back to normalcy - but if you are one of the many who are not willing to return to the daily grind, then a franchise might be your ticket to a better work/life balance and wealth accumulation.
Investing in a coffee franchise is one of your safest bets because one thing we know is that the world loves coffee! These are just ten coffee franchise opportunities to explore. For more information and help in finding the right franchise to invest in, contact Frannexus today. We have the insider knowledge you need to be successful!
With COVID hopefully behind us, there are things we will all be able to enjoy once again, and others that we will not. Not everyone is cut out for commuting to work and being stuck from nine to five. The one advantage that many workers enjoyed due to the pandemic were the freedom that it gave them to work remotely. There is a reason labor shortages are plaguing the workplace: not everyone is looking to go back to the status quo. For some, that will mean that they have to switch gears and find nontraditional opportunities, like owning a business.
Several studies about how COVID altered the way that we live, work, and commute have shown that it forever changed the way that people view their priorities and the importance of work/life balance. Especially for men, the traditional role of staying at home or working from home is not only becoming the accepted “norm” - flexible settings and part-time jobs are quickly gaining in popularity across the genders. Statistics show that 80% of all workers surveyed said that they would rather work from home even after the pandemic was no longer an issue, and 45% wished that they could spend a minimum of half their time at home going forward.
Only about 50% of workers interviewed said that they missed their pre-COVID position. 71% of those working from home enjoyed their more domestic role, with 53% of workers believing that working remotely helped them achieve a better work/life balance than in an office setting. This recalibration in beliefs is becoming the new reality in a post-COVID atmosphere. So what does that mean for the average worker?
A shift in our roles as adults and workers is leading many to wonder if it is in fact time for a change. Many are asking themselves if they are satisfied with their career path, or if perhaps there is a better way to find success, both professionally and personally. If you are one of the many who are wondering if your pre- and post-COVID goals align now that we have returned to post-COVID normalcy, here are some signs that what you wanted before and what your goals are now simply aren’t jiving.
Sure, everyone has days where they wish they were in a different position or that their given career was different - but if you are having doubts daily or are constantly questioning the path you are on, then it might be more than just a bad day. It might be time to quit and find another avenue.
The key is to follow what your gut tells you. If you wake up wishing that you didn’t have to head to the office again, then that is a sign that you are unhappy with your current career. If you ignore your feelings and continue to try to make a puzzle piece fit where it doesn’t, it can start to affect your happiness and your health. Dreading going to work is a horrible feeling and one that will likely not change over time. If you hate the thought of making that trek to work, and you hate being there, even more, it is time to pack it in and hand in your two-week notice.
No one wants to do things that they don’t like. When you think about all the chores you have, the very last one that gets done is the least liked. The same is true of a job that you hate. If you find yourself avoiding doing your job more than “getting it done,” that is a true sign that you don’t like what you do. If there is nothing about what you do that gives you a little personal satisfaction kick, it is time to get out!
If you find yourself calling in sick more than actually heading to the office, then it might be your subconscious telling you it is time to make a change. Whether you are really sick or if you are just sick of being at work doesn’t matter. If you are resorting to avoiding as many days as you can or are physically sick due to the unhappiness you feel at work, then it isn’t worth it. It is time to switch gears before it does some real damage to your overall health.
When you find that nearly all of your conversations lately are about how much you hate your job or how bad things are, then you are obsessing about your misery, and misery certainly does not like company. If all you can do is talk negatively about your job to co-workers, family, and friends, then it is encroaching into all aspects of your life. When your job makes you a negative Nelly, it is time to cut it loose.
Everyone considers taking a job that is a little beneath their talents and skills, but if you are in a job that you are completely overqualified for, then there is no other way to feel stuck. A job isn’t supposed to be 100% about satisfaction, but if you feel like you aren’t being challenged or finding any fulfillment, you need to move on and find some worth in what you do elsewhere.
The glass ceiling is nothing but depressing. If you are working overtime and there is nothing to aspire to but the end of the day or clearing your workplace, then that won’t make you grow professionally or personally. And if you aren’t growing while the rest of the world is growing around you, that just makes you stunted. Staying in a position for too long might seem like a breeze, but after a while, it will bring you nothing but boredom.
If you are negative about something as critical as your career, then it is going to find its way into your world and your psyche. A toxic environment will bring down all the joy that you feel both in the workplace and beyond it. Pessimism is also a surefire way to kill any passion or inspiration that you feel, because it just squashes everything around you. Stop the breeding grounds and find your happy place once again elsewhere.
A career is something that you should be able to grow with and make your own, but if you keep your mouth shut instead of voicing your opinion, after a while that is going to make you want to scream out loud. You shouldn't feel stuck doing the same thing when you know that there is a better way to do something. If you do feel that way, then it is time to take your talents and use them elsewhere.
If everyone in your life can see your work unhappiness, then that is a sign that it is time to quit your job and move along. No matter what you tell yourself, you know the truth, and so does everyone around you. Denying it only prolongs the steps that you should take to find your true passion and begin enjoying what you do again.
When you are happy with something, let’s face it: you don’t go looking for advice from articles that will give you the answers you already know. The fact that you are looking for other avenues is the first and most important reason that you should consider leaving your current job and finding one that fits you better.
Not everyone is born with an entrepreneurial spirit, but that doesn’t mean that you can’t develop one. Self-employment and entrepreneurship are two of the best ways to accumulate wealth, and in the new face of employment, they might help you to escape the day-to-day torture of the old status quo. Up until the COVID pandemic, traditional education and skills training were solely focused on obtaining a job, but there need to be better solutions for those who are not willing to sacrifice their wants and freedom to trade their time for someone else’s wealth. As a society, we need to find innovative solutions to tackle unemployment and labor shortage issues and match skills with other, less traditional ways to earn a living.
Business ownership not only helps the business owner grow; it helps the economy as a whole. A new spirit or idea of seeing business ownership is a possibility for many needs to be developed to bridge the changing work atmosphere, as well as people’s professional and personal goals. Entrepreneurial thought should not be rare; it should be the ideal way for workers looking to bridge the gap between pre- and post-COVID careers and occupations.
There is nothing new about franchising. It has been around for decades - and in theory, probably centuries. The only thing that needs to be altered is the notion that not everyone can own and operate a franchise. It should not be considered out of the ordinary, but something for the ordinary or average worker to consider. Franchising allows workers to work as their own boss, remotely, and at a given career of their choosing.
These are excerpts taken from LinkedIn, showcasing the many ways that franchise ownership has changed lives for the better. These are average people who took a leap and decided that the status quo was no longer going to be their status quo. Just read what they have to say about making the switch from employee to business owner. These are all people who teamed up with Frannexus to find a new lease on life.
Joseph Boyd - I first connected with Seth in late 2019 to discuss potential franchise opportunities, but I was at least 7-10 months away from being able to start up a business. Seth did not try to rush my decision and was extremely patient as we narrowed down possible franchise opportunities. Through several rounds of discussion and insight, Seth helped me narrow the franchise prospects down to two. Seth was a great resource and extremely supportive while I performed my due diligence on each model. After I committed to a model, Seth has continued to check in to make sure everything is going smoothly prior to start-up and has reiterated that he will continue to be available when needed. I would recommend anyone that is exploring franchise opportunities to utilize Seth’s expertise.
Regina Armstrong - Seth is the real deal!!! I had no direction and was unsure about which franchise opportunity was right for me, but once I linked up with Seth, he walked me through the process step by step. I'm so happy that I was fortunate enough to be one of his clients and he helped me find the business model that was best for me.
Imran Rahman - I can't endorse Seth's expertise, coaching style, and authenticity enough. We met at the very beginning of my journey into small business ownership at a time when I was exploring a broad range of options for the next step in my career. Seth had his work cut out for him, but he took the time to truly get to know me, explore my passions, and guide me through a long and winding decision-making process. I know I made the right leap for myself and my family, and I credit Seth's ability to help me define my path.
If you are finding that the return to post-COVID normalcy in the workplace is not what you want, then you should consider becoming a franchise owner to find freedom from the workplace and a better life/work balance. The first step is to find your passion and then match it with the right franchise opportunity. The best advice that you can take is not to head to the internet and start your search. Frannexus has helped hundreds of people like you find their inspiration and start down a new path of wealth accumulation instead of trading their labor and time for someone else’s wealth.
The Frannexus team can work closely with you to find a franchise that fits your goals, is within your financial constraints, and can help you enjoy life in a post-COVID world and beyond. Remember for all the bad things that happened during the pandemic, there is a way to take lessons learned and make them work for you, instead of working in the capacity you did before. Contact us today to get started on your new normal.
When it comes to building wealth, the American Dream can feel very unrealistic and out of touch for the average person. The reality is that becoming a self-made person is less about digging in your heels and rolling up your sleeves and more about working smart with goals in mind. Although there are many ways to earn profits, two of the most common are that you can trade your labor to help someone else build their asset base, or you can be a self-employed business owner.
When you trade your labor to foster the growth of someone else’s financial future, there is very little opportunity to save above and beyond your earnings. In most cases, all of your time is allocated to the wealth accumulation of the organization or company you work for. Therefore, to get ahead, you most likely have to work in your spare time to put money aside.
Being a self-employed business owner does come with perks that trading labor does not, but it also comes with increased risk and the necessity of being an industry expert, taking on the roles of marketing, sales, operations, and all other aspects that go hand-in-hand with ownership.
So although you might have the freedom that comes with being a boss, it usually does not enhance your overall financial security or status that much more. So when it comes right down to it, the first two options of using physical labor in exchange for earnings sounds, well, exhausting and with no guarantee of ever achieving the wealth accumulation that you desire.
The good news is that there are two additional options to earn a living, which are business owners and investors. In a business owner position, you don’t trade your labor to build someone else’s fortune; you have others using their labor to build yours. As a business owner, you still have to put in the time and effort, but your labor isn’t directly responsible for the majority of the revenue that your company earns.
When you purchase a successful or established business model, such as a franchise, you are not in a position to work the grind for someone else to prosper. Instead, you prosper yourself while also enjoying tax advantages and the freedom that comes with being the boss.
The main advantage of being an investor is that you have your money work for you instead of you for it. An investor reaps the benefits of passive income via multi streams and watches their finances accumulate without their labor required. And you can reinvest the income that you generate to incorporate new ways to accumulate money, enjoy your freedom, and live your best life.
As a business owner, you get the perks of paying yourself a salary, gaining tax savings, and gaining equity growth. In addition, as a business owner, you can make your own schedule, which means vacationing or taking days for family necessities, choosing where you live, and being in charge of things like what you wear, who you hire, and making the rules.
Unlike being an employee, you also enjoy a great deal of job security and are not limited by pay halts or being stuck in one positional capacity. Business owners do not devalue an organization as they age or stay stagnant in salary when they hit a cap. As a business owner, your possibilities are endless.
Business ownership and franchising share a lot of similarities and benefits, but they also differ in some critical and advantageous ways. Statistics tell us that nearly 20% of all businesses will not survive the first year, with up to 50% not celebrating their fifth anniversary.
So being a small business startup does come with inherent risks that might make you stop and consider the risk versus reward of being a new business owner. Franchising, however, has a success rate of 90% the first year, which is a lot less risky. And the percentages get better when you go out five years, ten years, etc... Franchises just have a higher likelihood of success. Franchises also enjoy many other benefits that are not afforded to small business startups.
When you open a new business, you have to start from scratch and win over consumers through marketing and advertising as well as branding efforts, which can take years to decades to develop. A franchise, however, comes with the reward of already having a brand presence and loyalty. When you buy a franchise, the difficulties that arise from laying the groundwork are already taken care of so you have things like brand recognition and brand loyalty from the moment you put up your “open for business” sign.
Starting a business alone is a make-it-or-break-it situation. In the beginning, you have to go it alone and often wear many hats because you don’t have the resources to pay other people. That can lead to you spreading yourself too thin and not having enough time to get the business off of the ground, or neglecting those things that help a business to succeed versus fail.
Franchises come with the support of the franchisor who has “been there” and “done that.” Support is often given upfront with things like providing technological systems, hiring, marketing, and training. And typically, franchises also come with ongoing support once you are up and running to ensure the highest likelihood of success. With a franchise, you don’t have to muddle through the first couple of years to decades; you have a trusted partner who already knows the process and how to get from start-up to success.
Starting a new business comes with a tremendous amount of trial and error, and unfortunately, it leans heavily toward the error side. Since no one has ever traveled the same path, you are left to sort through the complexities and hurdles that come with small business start-ups.
When you buy a franchise, however, you are given a proven playbook at the start. All you have to do is use that book and play by the rules and you are almost guaranteed to find success. There is no muddling through the process of trying things to see what works; you already know what works and implement it from the very start.
A small business startup is starting from scratch. That means that they have very little influence when it comes to purchasing equipment or necessities to get the ball rolling. And they typically pay retail for what they need, which can be costly and put a business owner in the red immediately. With a franchise, you have great buying power in bulk. Franchisors typically have the advantage of getting special vendor and bulk pricing, which translates into higher bottom-line earnings. When you pay more for the materials you need, you get the advantage of keeping more for what you sell- it’s just basic math.
Being a small business owner means that you know the ins and outs of an industry and have the experience necessary to be an expert. A franchise allows you to switch gears midlife to do things that are outside of your wheelhouse. Since you are provided training, assistance, and a high degree of support, you can start a new venture without any experience or education required. That is very alluring for people who are working full-time in an industry that they no longer find satisfying and are just looking for a change of pace. Franchise ownership allows you to do what you want without going through the rigors of getting up to speed first.
With the high failure rate associated with business ownership, it can be difficult to secure financing. Not many lenders are keen on taking on a new business model without proven success and so many uncertainties. Franchises come with a proven system and a road map about how to get where you need to be. Therefore, lenders are more apt to foster a new franchise purchase than to lend money to a small business owner who has made up a business model based on theory and speculation.
Although a franchise is less risky than a startup, not all franchises survive or have great earning potential, so it does matter which one you choose. Some specific habits and tactics will help you accumulate wealth when owning a franchise. The first and most critical one is making sure that you are starting with a concept that has the potential for exponential growth. For example, if your franchise is guided by things like territorial restraints, the locale that you choose is significantly going to affect how successful you are.
There are two types of franchise models - one being the “owner-operator” and the other being the “executive” business model. As the owner-operator, you are the boots on the ground overseeing the day-to-day operations and personally rolling up your sleeves. The executive model is one where you can build multi-units that work without your daily presence. They are managed by someone other than you, so other people are trading their labor for your wealth accumulation.
There are many pros and cons to each type of ownership model. In the owner-operator model, you exert greater control over the quality and consistency of your operation, and it typically requires less capital to get started. But with an executive model, you can continue to work in another capacity while someone else runs the business, so you have multiple streams of income before you even grow additional units.
Scalability is also a major factor. Scalability means the measure of how much you can expand a business due to limitations of locale or other factors. When you buy a scalable franchise that doesn’t require the boundaries of a brick and mortar or the expenses of real estate and operational costs, expanding to multi-units is often much easier and possible. So although franchises have the potential to accumulate wealth and more of it over a shorter period of time, the type of franchise you choose does matter.
Statistics tell us that 54% of franchise units are operated and owned by multi-unit owners. When you consider that the more franchises you own the more profits you realize, multi-unit operations are going to be the best way to build your empire. So choosing the right franchise for you to grow quickly is going to be critical to securing your financial future and enjoying the independence of fewer hours at work and more hours at play.
In the business world, you can work hard and long hours, or you can work smart. The reality is there is only one clear way to accumulate wealth, and it doesn’t involve trading the hours of your precious life working to make someone else rich. If you would like the security and freedom of being your own boss, along with the opportunity to grow exponential wealth while minimizing risk, then a franchise is the way to go!
A franchise gives you all the benefits of business ownership without all the hurdles of a startup. It does involve finding the right franchise to suit your needs and one that has the highest probability of success, but how do you know which of the thousands of franchises to choose? The good news is you don’t have to go it alone.
At Frannexus, we have the advantage of not only knowing the franchise-buying process; we have an in with lenders and other financial resources to help you realize your franchise-building dream. Contact us today and let’s get you down the path of securing your financial future and finding satisfaction in your work/life balance!
Most people think that they can only dream of becoming their own boss, starting a small business, and the prospects of growing and expanding. The reality is that the only way to accumulate wealth and secure a financial future is to become a business owner. Once you decide to leap into business ownership, that is just the first step. Next, you have to consider what types of industries, business model types, and opportunities are available to you.
You can choose a new business startup, or you can opt for buying a franchise. Both come with their advantages and disadvantages. The key is to minimize risk while maximizing the potential for success and profitability. So which one is right for you?
Unlike small "mom-and-pop" startups, a franchise is a business method that helps to expand an existing business by providing goods and services through a licensing relationship.
Franchisors grant a license to a third party to conduct business under their trademark and trade name, and typically, they also offer things like operating systems help, support, branding, and other perks that make it easy to get the business up and to go and to help sustain its success for those who buy-in.
In terms of relationships in franchising, there are two types: business format and traditional or product distribution. A business format franchising method is where the franchisor offers the franchisee their trade name, services, and products and usually has an entire system to help operate a successful business.
The franchisor also offers things like site and real estate selection, operating manuals, brand standards, training, development support, marketing and business support, and quality control measures to help get the business up and running and make it sustainable and profitable for the future.
The franchisor hands over the "keys to the kingdom" of success. Currently, there are over 120 industries that use business format franchising to take their product or service to market, including automotive, education, logging, commercial and residential services, retail, food, senior care, medical services, restaurants, and real estate.
A traditional or product distribution format typically has higher sales than a business format. The focus on product distribution is not directly related to doing business but rather on the products supplied or manufactured to the franchisee via the franchisor. The products usually need pre-and post-sale service, as in the automotive industry.
When it comes to wealth accumulation, the only way to truly get ahead of the curve and stop spending your time helping someone else's fortune grow is by becoming a business owner. A new business startup is a risky proposition. When you consider that, on average, 20% of all new businesses don't make it to their second anniversary and that 45% of them won't make it to the five-year mark, opening a startup business can appear very challenging. Also, when you consider that about 65% of companies won't make it to ten years, the decision to be a business owner can be fraught with fear and trepidation.
The most successful franchise owners recognize that they may have to get their hands dirty and get to work until things pay off. If you understand that the fruits of your labor will take time to grow and ripen on the vine before being picked, you are m
Franchises differ, however, primarily because although they are technically a "new business," there is nothing new about them. A franchise is built on a proven business model that also comes with the perks of brand recognition and brand loyalty. Franchises have less risk compared to new business startups, which also means that the average person is more likely to be able to secure financial resources for a franchise as opposed to presenting a new business model to a lender or investor.
There is also no required learning curve. When starting up a new business, you often have to be very well-versed in the industry and have the experience and expertise to guide the company while also working in it. Franchises do not require that you have any experience at all in the given industry you choose. You are handed all the knowledge you need before you even begin the process, which means that you can switch gears from your previous career and hit the ground running with a high likelihood of success.
For a new business startup, you can't wholly switch paths and start a new venture without becoming an expert. With a franchise, however, all the knowledge you need to run it successfully is given to you; all you have to do is follow the guide as outlined. You are almost guaranteed success without having any real hands-on training or education. It is an excellent way to find something you love to do without all the work of getting up to speed or attending extensive educational training.
Often, when you begin a new business venture, you do so on your own, and it becomes an issue of making it or breaking it. A new business model, idea, or concept does not come with the guidance of those who have come before; it is a constant road of trial, error, and hard work. However, when you buy a franchise, you're buying the help and support of those who have already been there and done that. That means that you aren't reinventing the wheel; you are just picking up the playbook and putting it into motion.
Real estate advice, construction plans, employee training, marketing, promotional tools, systems, and operations are already at your fingertips. That increases the probability that you will be successful; it reduces the risk that you won't. Buying a franchise also means that you can start making money from day one because you will be ready to go from when you say you're open. And people will be anticipating your new business because they already know who you are. They can depend on consistency and reliability. They recognize your product or service from the outset.
Growth scalability is also a huge advantage of becoming a franchise owner. Multi-unit franchisees are a great way to continue building your wealth without restricting how much you can fit into one brick and mortar location or how many employees your location needs. When you own a franchise with high scalability, your potential for growth, expansion and profit margins are exponential and ever-widening. With a highly scalable franchise, the sky's the limit.
With a scalable franchise, you also have very few expenses, including employee salaries, because most of the payroll is based on performance commission, which lowers your risk as a business owner. Unlike traditional business models where you have to pay people on a salaried or hourly basis, you only have to pay people who have already contributed directly to your profit margin with a scalable franchise. Being a business owner is further enhanced by knowing that you have less skin in the game, and you're increasing your potential for earnings with every new team member you take on.
If you are ready to become a franchise owner and enjoy the benefits, the next step is to explore the available opportunities. If you head to the internet to see what is open, you will quickly be overwhelmed by the hundreds of thousands of choices. Although franchises have a higher likelihood of success than traditional startup businesses, that does not mean that they are all right for everyone or that everyone will be successful with every franchise. The Three Ds is the most crucial step to finding the right franchise for a satisfying and lucrative new venture.
One of the best parts of buying a franchise is knowing what the future will probably look like. Franchises have to file a franchise disclosure document, which the Federal Trade Commission requires. This document is generated annually to explain in detail the terms for owning a specific franchise. It is critical to go through the FDD with a fine-toothed comb - or even better, to hire someone who understands the legalese and what it all means.
You will want to pay close attention to things like startup costs and ongoing expenses and weigh them against the potential revenue that the business can generate. Also, consider how much support the franchisor will supply to you both initially and then as you grow. Things like employee training and operating systems help will be critical in getting things up and running quickly and working efficiently and effectively from the start. Finally, consider talking with both former and current franchise owners to get a feel for the daily operations and the real "boots on the ground" experience.
Next, think about other factors outside of the franchise itself. Consider personal factors like your personality style and what you would like to do versus what you don't want. You also have to take stock of how involved your family will be and how much support they are going to provide.
Make a list of priorities, like what types of industries you think would provide personal satisfaction and improve your work/life balance. Ask the hard questions: do you want to work with customers and be the face of the company, or would you rather be behind the scenes? If you are going to buy a franchise, it will take a lot of your time and energy at the start to get it up and to run. How much time are you willing to sacrifice, and what can you live with and can't you if you have to?
One of the keys to being a successful business owner is learning how to delegate, whether in a traditional startup or a franchise. If you focus your energies on what you do best and let those who are well-versed handle the rest, you won't be spreading yourself too thin, making decisions without having all the information you need, or going outside your range of expertise. The first business decision you will face is finding the right franchise to buy, then taking all the proper steps to minimize risk and maximize wealth accumulation and work/life satisfaction.
There is no need to dive headlong into figuring out the ins and outs of franchising opportunities, the legalities behind them, or sorting through the many steps you have to take and consider when there are franchise experts like Frannexus there to help. We have been through the process hundreds, if not thousands, of times and dealt with people from all walks of life who have different life circumstances, resources, and ideas about what their goals are going forward. The worst thing you can do is try to go it alone, especially when you don't have to!
When it comes to securing your financial future and building wealth, not just for the here and now but for generations to come, business ownership is truly one of the only ways to get ahead. Franchising is one of the least risky and most rewarding ways to find satisfaction in what you do while reaping all the benefits of freedom and security that come with being your boss.
At Frannexus, we have all the tools and resources you need to make the most well-informed decision about which franchise has the highest likelihood for success and which one will be rewarding, scalable, and provide you with the rate of return you seek. The statistics are clear: a franchise has a higher likelihood of success than a traditional business startup. There is also a potential opportunity for anyone looking to secure their financial situation. Contact us today to get the process started, and let's find the perfect fit for your new and lucrative future!
Currently, economic conditions are ripe for people to change paths and follow new pursuits. Over the past few years, we all learned that the status quo might not be what we all want to maintain. Many who were allowed to work remotely, gain more schedule flexibility, or enjoy more independence are unwilling to give it up and return to the old daily grind.
That has many considering the prospect of becoming a small business owner. According to the latest statistics, small businesses currently dominate 99.9% of all companies operating in the US, and they employ over 47% of employees around the nation. Some major shifts will affect small business owners and their bottom line. When choosing which business will find the most success, there are many things to consider.
Although recent events certainly altered the face of small business survival, the latest figures do not veer very much from what they were in 2019. Currently, 67.6% of all new startup businesses have survived the two-year mark; when stretched out to five years, the percentage dropped to 48.9%, and only 33.5% of small companies celebrated their tenth anniversary. However, studies show that nearly 90% of all new franchises succeed. The statistics differ depending on the type of franchise and its industry.
Launching a new business startup from the ground up is a much riskier proposition because it has never been done before. Unlike a franchise with a playbook for success, new small businesses come with a ton of trial and error - and often, more error than they can handle. The key to being successful as a small business owner is weighing factors such as personal strengths and weaknesses and external factors and economic conditions. For some, franchising is an excellent way to accumulate wealth, but only if they thoroughly investigate the many things that will make a business successful or lead to its downfall.
Most intuitively think that being a franchise owner is only for trailblazers looking to do something dynamic. Franchise ownership is something that people consider appropriate for type-A and classic entrepreneur-type individuals, and they are shocked to find out that it might be the opposite. In franchising, success is typically found in the slow and steady, more even-keeled type of personality that is not looking to buck the system or be super-innovative. Caution is not counterintuitive to franchise ownership success. These eight personality traits tend to go hand-in-hand with successful franchise ownership.
Running a successful franchise is not about working harder; it's more about working smarter. A franchise might be for you if you understand that acting does not necessarily mean meeting goals. Setting attainable and quantitative benchmark goals is the best road to successful franchise ownership. It requires someone who can continually pivot to find out what is working and what is not and then make the necessary alterations to get back on track.
The most successful franchise owners recognize that they may have to get their hands dirty and get to work until things pay off. If you understand that the fruits of your labor will take time to grow and ripen on the vine before being picked, you are more likely to find success.
You not only have a high sense of energy and enthusiasm; you recognize that it is your job to breathe that energy into those around you. You have a strong work ethic and expect it from those who work alongside you. People who can rally the troops are more likely to make big things happen.
There is no half-empty in franchise ownership success. It takes a person who can find solutions and see opportunities where others see roadblocks. If you love a challenge, then franchise ownership might be for you. There is no room for wasting time rehashing what went wrong; you have to be able to put it behind you and move on!
It is essential to know that you have fantastic communication skills as a business owner. Still, you have to take it one step further to see that customers and employees and their satisfaction are the keys to success. Business owners who seek to build relationships with those who work for them and those they work for will always enjoy more success.
Becoming a business owner will always come with inherent risk, whether it is a startup or a franchise. Franchise owners who score lower on the scale of "risk-taker" and are more the "cautious" type tend to enjoy more success. Mitigating risk is critical to achieving the greatest amount of success. Taking chances is different than assuming risk, and knowing the difference has a huge impact.
For a successful franchise owner, failure is never an option. As an optimist, you don't just push through those things that keep others down; you take it to a whole new level of seeing opportunities and seizing them. No matter what gets thrown at you, the franchise owner who throws it right back and forges ahead with excitement will find the greatest amount of success.
Successful business owners don't lose their cool. One of the most critical personality traits for success is looking at a situation that might be incredibly anxiety-provoking and breaking it down calmly into something manageable. You can't operate in a state of panic, and in a crisis, the leader who will survive is the one who knows how to find the path out and force everyone into a single-file line.
Going it alone versus opening a franchise both come with advantages and disadvantages. But franchises tend to enjoy three significant pros, whereas new startups have cons.
In many cases, for a new business startup, the pathway to success rests in expertise and industry knowledge. For franchises, that isn't the case. Franchise owners rarely need to know much about the industry they're buying into. That means that there isn't a learning curve that you have to go through for success. You can start down an entirely new path by buying a franchise with no experience necessary.
That is appealing to people who want to hit the ground running with a new business proposition outside of their wheelhouse, and it's a massive plus for those who are not enjoying satisfaction in their current careers. Often we get stuck in careers that we aren't thrilled with purely because switching gears would take too much time and energy. Those hurdles are eliminated when you buy into a franchise.
All business startups come with an inherent amount of risk, but a franchise's risks of failure are significantly lower than going it alone. Most lenders are reluctant to extend credit to new business owners precisely because of the risk involved. Franchises, however, do not have the same risks. When you buy into a franchise, you aren't starting from scratch, building a business model that may or may not work, and crossing your fingers.
Franchises come with a playbook for success, and if you stick to the plan and execute it exactly as outlined, there is minimal risk involved. Your risk is even further reduced when you consider that branding, advertising, and marketing, which are the crux of a new business startup and what occupies the first several years to decades, are already done. You already have a customer base anticipating your goods or services when you open your doors!
When you become a franchise owner, you are the master of your own fate. By choosing the right franchise, you enjoy more freedom and get to decide when and where you want to work. And you can enjoy a much more outstanding work/life balance; since support and training are generally supplied, all you have to do is follow the steps. Unlike a new business venture, you are in business for yourself, but that doesn't mean that you are going it alone. There are a ton of safety nets to take advantage of, which means that while you are the boss, it is challenging to fail if you follow the guide!
Now that you see all the advantages of franchise owners, here comes the hard part: figuring out which one to invest in. In 2020 alone, there were over 750,000 franchise opportunities to choose from - and counting! That is a staggering number to consider. While most people think the first best step is to hit the internet, looking within is the best place to begin.
Different franchises are going to speak differently to various personality styles. It is essential to take a good hard look inside and see what motivates you and makes you tick. Most people want to become business owners to enjoy increased work satisfaction, and that can't happen until you understand what you want and what makes you feel fulfilled and happy. Ask yourself questions such as:
The more things you can challenge yourself about, the better outline you will have to find the opportunity that will be successful and suit your needs and help you find the work/life balance and satisfaction that you are currently missing.
The best way to get a realistic picture of the 'boots on the ground' operation is to do two things: go to a franchise and observe the daily operations and speak to both current and former owners to get a gauge about what they liked and what they did not. Most owners will be happy to meet with you and share their experiences. By talking with them, you can quickly see whether the franchise is something that tends to excite them and what their overall take on it is.
When it comes to deciding to become a franchise owner, why go it alone when you don't have to? Sifting through the vast sea of opportunities can be overwhelming and take time. At Frannexus, we have the industry knowledge to help you narrow your search efficiently to focus on the most challenging part: the fine details.
We help with every part of franchise ownership, from deciding which will best suit your needs to finding financing. There is no denying that the process can be complex, but we take the guesswork out of it and help you make the best-informed decision with the most optimal chances for success!
As we head into a recovery period, some things might begin to return to normal while others never will. One issue that many workers around the nation are struggling with is returning to the daily grind. Now that we have gotten a taste of freedom from the workplace, we're not rushing back to the status quo.
If you want to be your boss, switch paths, do something different, and start accumulating wealth for yourself instead of someone else, then a franchise is an excellent solution! At Frannexus, our mission is to find the right franchise opportunity to suit your personality and goals and start you down the road to a more lucrative and financially secure future. Contact us today to get the process started!
Often, when people think about the potential of owning a franchise, they wrongly assume that franchise ownership is only for the wealthy. The truth is that nearly anyone with the desire to take a leap and start down the path to a lucrative future can find a franchise within their means. Yes, some franchises require huge net-worth figures and millions of dollars on hand, but others require less than $100k and can be financed, making them a choice for anyone with a vision.
The reality is that anyone working for someone else is trading their hours to foster wealth accumulation for their employer. The only real way to build wealth for yourself is to own a business. But business ownership does not come without serious risk, both professionally and personally. However, the good news is that when you choose a franchise, you are buying into a proven business plan, a recognized brand, and everything you need to pick up the ball and run with it!
If you are ready to start down the path of being your boss, enjoying a better work/life balance, and securing your financial future, then consider these franchises. These are emerging franchise buy-ins that require less than $100k, have the potential to build a significant amount of capital for you and your family, and come with minimal risk.
In the post-pandemic era, many students are not only struggling with socialization; many are also falling behind academically. The Tutor Doctor is an emerging franchise that is helping millions of students across the nation and globally by providing them with a better sense of accomplishment, self-esteem, and success. And it is affording many looking to start their own business unparalleled opportunity for growth while still satiating their desire for a work/life balance.
According to statistics, the global demand for online tutoring assistance will grow by 16% by 2027. The Tutor Doctor is the answer to a growing industry need. It is a low-investment franchise opportunity that requires an initial franchise fee of $44,700 - $49,700 and an estimated initial investment of $73-$100k for local and regional licenses. If you want to up the ante, you can choose the empire builder franchise model, which is $94k for the initial franchise fee and $134,995 to $160,695 for an initial investment range.
Tutor Doctor offers an expanding international brand throughout North America, Latin America, and Europe. There are no brick and mortar costs to start this web-based franchise. It operates on a scalable business model, proprietary business technology, and tutor recruitment and matching framework. The franchisor aids with a coaching structure, local marketing, and specialist teams that foster long-term innovation. Above all, the Tutor Doctor comes with a 95% customer satisfaction rating and a brand recognition that is one of excellence.
Patrice & Associates is a franchise that recruits for the hospitality industry and has been around since 1989. As we roll into the post-pandemic era, hospitality is one area experiencing explosive growth. The restaurants able to pivot to adjust to shutdowns and social distancing not only survived; they thrived. From carryout to delivery, restaurants that found solutions weathered the storm and are now being rewarded with record numbers of consumers looking to enjoy what they missed during the past two years.
According to statistics, over a million restaurants survived the pandemic last year alone, and 81k new ones opened their doors. In addition, Canada's restaurant industry grew by 4.5% just last year alone and employed over 500k workers.
Patrice & Associates is an executive search company that helps hotels, casinos, restaurants, university hospitals, cafeterias, and grocery stores with their employee needs. The advantages they hold for franchise owners are:
They also handle all of the collections and billing so that you can focus on growing your franchise.
As a franchise owner, you don't have to hire employees, have a brick-and-mortar, require fast cash flow, or purchase equipment, and you get 90 days of training to ensure that you are on the right track. The advantage that the franchise provides is supplying you with clients from the first day you put out the "open for business" sign because they already have national contracts with fine and casual dining established business names such as TGI Friday's, Arby's, Great Wolf Lodge, and many others.
Patrice & Associates also offers no territory restrictions and low upfront investment figures, and although you can choose a brick-and-mortar location, you can also recruit from home. Additionally, they handle all of the marketing costs and labor, all of which you benefit from as a business owner. With labor shortages on the rise, it is becoming incredibly hard to retain talent. The answer? Patrice & Associates. It is a recession-resilient business model that is not a fad and offers unlimited growth.
Art classes continue to lose their placement in schools around the nation, making businesses such as Abrakadoodle a necessity. Abrakadoodle is a creativity franchise that brings mobile art to you. Whether visual arts, summer camps, or art parties, it is an onsite mobile art program designed to put art and creativity back into our children's lives.
Abrakadoodle covers six countries, one million kids, 1,000 locations, 140 franchises and growing, and 1500 teachers. It also offers training and ongoing support. It is a low-cost franchise, a mobile-based home business that allows varied income streams, offering summer camps, event parties, adult programs, and classes year-round.
The initial franchise fee is anywhere from $25,400 - $56,900, an initial investment of $38,088 - $81,938, a net worth of $100k, royalty fees of 8%, and a cash requirement $50k. It provides:
CarePatrol is quickly becoming one of the fastest-growing and trusted senior-living placements in the nation, employing 150+ Certified Senior Advisors. Founded in 1993, CarePatrol's mission is to reduce the stress on families when finding a placement for their aging parents and loved ones.
According to statistics, over one million seniors live in more than 30k communities in the nation, with projections that that number will double by the year 2030. The earning potential for those embarking on the CarePatrol franchise opportunity will be up to 142% more than competitors in the industry.
It is a home-based business model without brick-and-mortar or real estate expenses. Senior care is a recession-resilient industry marked by exponential demands and growth, and CarePatrol might be your answer to financial security for the future.
Fibrenew is a franchise that currently has over 290 franchise locations and employs over 330 technicians in North America and globally. They are dedicated to the restoration of vinyl, leather, and plastic. It is a mobile-based franchise, so there are no brick and mortar or real estate costs. The company is witnessing steady growth in various markets, including automotive, commercial, residential, aviation, medical, and marine.
It is also forecast to experience considerable gains over the next decade, offering an eco-friendly alternative to replacement materials that would eventually find their way to landfills around the US and globally.
The starting investment for a franchise is about $94k, with franchise fees of up to $47k. Other requirements are a net worth of $200k and liquid cash of more than $50k. The initial franchise fees total $47k, and ongoing fees are about $695+ per month. Fibrenew provides classroom training and only takes one person to run the mobile business. It is an excellent opportunity for someone looking to branch out on their own and accumulate wealth and a healthy financial future.
Most people mistakenly assume that they aren't wealthy enough to accumulate wealth by owning their own franchise. There are many opportunities available for under $100k in the franchise-owning industry. If you are ready to stop trading your hours for someone else's wealth, now is the perfect time to consider buying a franchise. Even for those with limited resources, the American dream of being a business owner is still real and alive. Contact Frannexus today to get started.
I can't endorse Seth's expertise, coaching style, and authenticity enough. I know I made the right leap for myself and my family, and I credit Seth's ability to help me define my path. - Imran Rahman, Franchise Owner
Let Frannexus Be Your Guide!
If you are considering investing in a franchise, don’t take the chance of choosing the wrong one and not achieving your goals. Learn from the experience of others in the franchise field, like a franchise coach, to have the greatest likelihood not just of succeeding but exceeding what you think is possible. At Frannexus, we have the expertise, knowledge, and experience to help you achieve your financial and personal goals. The right match is waiting for you, and Frannexus is the matchmaker to find your franchise soulmate.
Read more. Why Should I Work with a Franchise Consultant?
Things are seemingly returning to some sense of normalcy. Although the future and impending economy continue to be uncertain, it does appear that things are normalizing as people return to the business at hand. One movement that is hard to ignore exists in the labor force.
The shutdowns and social distancing protocols changed many people's perspectives and outlooks on life, including attitudes about working to accumulate wealth for companies and employers. Many reject the notion that they should trade most of their time to earn a paycheck and consider other options, such as becoming a business owner through franchising.
For those ready to take a leap of faith and start on a new venture, the question is whether they want to take one additional risk and try their hand with an emerging franchise or if going down the path of buying an established brand is better. If you are ready to begin accumulating wealth for yourself and branch out on your own, which one is for you?
When most people think about being a franchise owner, they think of a well-established brand, a mega-brand like McDonald's or Dunkin' Donuts, but thinking of only the most prominent brands can price them out of the market. Although it might be a common thought that buying into a well-established franchise reduces the risk of failure, that is not the case.
It is foreseeable that the old status quo of businesses might not adjust to people's new trends, thoughts, and desires as life pivots in the post-pandemic atmosphere. Many new and exciting franchise opportunities are finding their market share as we head deep into 2022 and beyond. They may offer just as much - if not more - in the potential for growth, satisfaction, and sustainability than established brands.
Both established and emerging franchises have pros and cons; the key is to find the less risky options while balancing sustainability and satisfaction. One significant advantage to buying an established franchise is consumer awareness. Although all franchises offer a proven business model, established ones have a history, leading to higher performance predictability.
On the other hand, established brands also have the potential for outdated business models that have lost their luster and come with market saturation and consumer fatigue. Also, they often command a higher buy-in investment, which can outprice most investors.
The pros and cons of an emerging franchise are also varied. On the one hand, they typically come with an upward trend and the opportunity for rapid growth due to their excitement and "newness," which sometimes leads to a high degree of adaptability that you can't get with an established brand. Emerging franchises tend to have more "wiggle room" to adjust for consumer trend changes, which does not necessarily mean that the business model isn't strong or set in stone.
It simply means that there is less tendency by consumers to hold fast to what they already know. The major drawback with an emerging franchise is often there are more responsibilities placed on the individual franchise units to extend the ever-growing brand awareness.
So which is for you - an emerging franchise or a traditional one? Before you decide, here are some of our emerging brands to look into.
In a post-pandemic era, people have become increasingly aware of their health status and how important it is. The DRIPBar is a franchise targeting cellular health and overall quality of life and well-being. The type of cocktail offered at the DRIPBar combines cellular scientific nuances targeted to help people live healthier and more vibrant lives.
Their niche market is not restricted to people dealing with chronic illness; it is for anyone who wants to increase their overall health. The DRIPBar offers vitamins and supplements via IV therapy, administered by professionals. Also, it is a semi-absentee franchise model, which allows business owners to pursue multiple streams of income and continue working in their current field or capacity.
The franchise fees are within range for the average investor. $55,000, with royalty fees of 7% and a startup cost of anywhere from $131 - $278k. To become an investor, you need liquid capital of $125k, a net worth of $300k, and a credit score over 700.
In the aftermath of the isolation and lack of social support that many individuals felt during the pandemic, many are still dealing with residual feelings of depression, anxiety, and other mental health issues. Telehealth was one industry that took on a life of its own during COVID, offering many convenience and accessibility that they did not have before.
Ellie Mental Health Services is one such telehealth forum. It is one of the fastest-growing mental health companies around the nation. It also offers in-person services, community service outreach, and psychiatric medication management to corner all mental health needs.
The cash requirement to buy in is about $100k, with a minimum franchise fee of $60k. It is an absentee to semi-absentee franchise business model, allowing owners to have a hands-off approach and pursue other career paths. It also offers high support, including real estate procurement, financial aid, site build, marketing, recruitment, and training. Once established, they have brand development guidelines and shared service intake teams, so there is a lot of hand-holding to provide all the assistance you need for startup and success.
According to statistics, by the year 2050, more than 27 million seniors will require health and living assistance, putting a heavy burden on many families who are left to care for them. CarePatrol is a franchise dedicated to providing better options than what's currently available in the market, using technology and software for better placement and more informed choices.
CarePatrol attempts to be the answer to assisted living placement concerns, independent living needs, nursing home choice confusion, and memory care for a growing number of seniors who are increasingly in need of help to overcome the hurdles of dementia and other memory issues.
It touts itself as a business with a purpose that requires a very low investment buy-in at $100k, a culture of compassion and empathy, a high degree of training and support, the benefit of quickly becoming the industry leader, and far greater earning potential than competitors. It is also an option for a flexibility-seeking audience as a home-based business model.
As we return to similar conditions as a pre-pandemic world, the past three years have left their mark in many ways. One such perspective that has globally changed is attitudes about work/life balance. Those looking to stop the daily grind, enjoy more freedom and family time, and stop working to line the pockets of companies and business owners and instead start lining their own are looking for franchise opportunities.
But is an emerging or well-established franchise right for you? With many pros and cons to consider, having a trusted professional like Frannexus in your corner can get you on the road to a successful and lucrative future filled with satisfaction and personal growth. Contact us today to get started!
I would highly recommend Seth to anyone looking to explore the universe of franchise options. - Jay Weitzman, Franchise Owner
Let Frannexus Be Your Guide!
If you are considering investing in a franchise, don’t take the chance of choosing the wrong one and not achieving your goals. Learn from the experience of others in the franchise field, like a franchise coach, to have the greatest likelihood not just of succeeding but exceeding what you think is possible. At Frannexus, we have the expertise, knowledge, and experience to help you achieve your financial and personal goals. The right match is waiting for you, and Frannexus is the matchmaker to find your franchise soulmate.
Read more. Why Should I Work with a Franchise Consultant?