Are you planning to open a business? Then check out this list of the six easiest franchises to start! When looking for a good business opportunity in the franchisee world, there are some important things one should always take into account. Franchises have numerous benefits, allowing entrepreneurs to get into the business world without much previous experience. A recognizable brand and an established business model usually guarantee a rather stable business. Yet, some startup costs and the market demand for the product or service, along with the franchise fees and potential revenue are elements to take into account to evaluate the growth prospects of the business. Moreover, each industry has its particular challenges and benefits, and the outcome of a franchise depends on several factors such as the brand strength, the location, the management, and the particular growth of the industry.
Despite their relatively low-risk (compared to starting a new business and brand), some franchises can be very profitable. We have compiled a list featuring the Top 10 Most Profitable Franchises in 2014 taking into account the different brands’ track records, and the particular growth of their industries. Nevertheless, some of these franchises require some specific knowledge and might involve some big initial investment costs.
In that vein, we’ve built this list of the easiest franchises to start, that require a combination of low investment and skills or knowledge, while still maintaining a track record of being profitable for their owners. Nevertheless, it is important to consider a value-priced franchise, in order to get through rough patches and remain stable through any fluctuations in the economy that may come our way. Check out our list on the six easiest franchises to start and find out where to invest your money!
No. 6 Servpro
This company is specialized in cleanup and restoration. Servpro is a strong brand, and has assisted in some big national cleanup efforts such as Hurricane Ike in 2008 and the Nashville floods. Headquartered in Gallatin, Tennessee, Servpro has more than 1,500 franchises nationwide. According to the company, startup costs are between $132,050 and $184,450, and a potential franchisee needs to have a minimum of $79,000 in cash.
No. 5 H&R Block
This tax preparation company has shown consistent growth in its number of franchises being operated worldwide. The particular thing about this company is that despite its franchises having pretty high royalty fees of 30%, it has no up-front franchise fee and also carries a modest total investment of about $35,000.
No. 4 Dairy Queen
Focusing on dairy products, desserts and fast food, the company has more than 5,700 franchises operating throughout the United States. Opening up a Dairy Queen is not expensive, and of the 172 loans the Small Business Administration backed between 2005 and 2010, only five failed.
No. 3 7-Eleven
There is no doubt this company is a great opportunity for entrepreneurs. It has a $0 cash liquidity requirement and available financing for franchise fees, making it easy to start this business on a limited investment budget. Although start-up costs and royalties vary, making it difficult to put a price tag on this franchise, these franchises have low operating costs per location and are indeed a good and easy opportunity.
No. 2 Massage Envy
Massage Envy is a company which started with the aim of providing affordable massages, fast. These franchises offer a wide range of massage services, and their locations are usually walk-ins. There are more than 686 Massage Envy locations across the United States, and the startup investment is between $343,025 and $567,985. According to the Small Business Administration, of the 181 loans backed between 2005 and 2010, only seven loans failed.
No. 1 Subway
With more than 35,000 stores in almost 100 countries across the globe, this sandwich company is among the most profitable and easiest franchises to open. With strong brand recognition and a relatively low franchise fee of $15,000, Subway franchises can operate almost anywhere. Moreover, it has a moderate start-up cost of about $185,000, and remains the best option for small entrepreneurs.
