Buying into a franchise is a great way to boost your income by earning money from an already-established brand while making your mark on the company's success and earning a nice profit at the same time. With a bit of an investment and some research, you can easily turn your franchise into a great business that lasts for generations. It all starts with knowing the best franchise options. There are several things to consider before buying a franchise, however. For example, you may be able to bank on having a lot of customers if you buy into a well-known company, buying a lesser-known company franchise could cost you considerably less of an investment, which could potentially maximize your profit. Currently, the top five most profitable franchises you can buy (but may have never heard of) are MaidPro, Pinto's Palette, Wild Birds Unlimited, Smoothie King and Huntington Learning Center. If you think a franchise opportunity may be right for you, keep reading to learn the top questions and answers about the top franchise opportunities!
For people who love teaching, The Huntington Learning Center is a great opportunity to buy into. This company offers students high-quality tutoring services designed to prep them for tests like the ACT or SAT, as well as school subjects like math or science. The Huntington Learning Center claims franchisees can make up to 61 percent more in profits than with competitors, so the opportunity to make good profits is definitely a big draw for this business.
Invest in a franchise that interests you, since this will be your business for years to come. In addition, look for a franchise that works well with your budget and business experience, so you'll have the best chance at success. Finally, look for a franchise that is needed in your area. For example, Wild Birds Unlimited would be a great franchise in a rural area or an area with a lot of wildlife, but might not do as well in a busy city. Do your research and find a franchise that fits your interests as well as your resources.
The most obvious advantage of buying a lesser-known franchise is that it will cost you less money up front, which can help maximize your profits. Most well-known franchises can be a fairly expensive investment, which can cut into profits, especially early on. You'll also have the advantage of owning a franchise that isn't on every corner, which can help separate you from the competition, or minimize it entirely.
Smoothie King is based in New Orleans and, along with smoothies, also offers vitamin supplements, energy drinks and energy bars. Smoothie shops in general are a great alternative for people who don't enjoy coffee or coffee shops, and want to instead focus on health and nutrition. Smoothie King has done a great job attracting business and has a record of successful franchises.
Investment money for a franchise can be obtained through a franchise loan if you don't already have the money saved up and you have reasonably good credit. Otherwise, you may be able to find an investor to pay the costs up front, in exchange for part of the profits later on.
Pinot's Palette is a company that offers a unique experience that's been gaining a lot of traction lately and getting quite popular - wine and painting! This company offers a unique experience to customers, allowing them to sip their favorite wines while painting with family or friends. With over 180 locations nationwide, Pinot's Palette is quickly growing, but you can still get in on the ground floor for less than $65,000.
Wild Birds Unlimited is a shop that offers wild bird food and other products to attract birds, so bird enthusiasts can attract a variety of birds to their yard or business. This is an especially great franchise to buy into if you live near a rural area where bird watching tends to be more prevalent, and the cost to buy in is relatively low.
As the name suggests, MaidPro is a cleaning and maintenance franchise that provides low-cost cleaning services to homes and businesses. MaidPro has been ranked one of the best franchises to buy into by Forbes and other business journals, and offers top-notch satisfaction and support for customers. Startup investment for MaidPro is less than $75,000, making this one of the most affordable franchises to buy into.