How often have you stopped at a fast-food restaurant to get a quick lunch or a drink before work? If the franchise is well-known in your neighborhood and has several locations, such as Dunkin’ Donuts or McDonald’s, you’ll likely have a favorite restaurant there.
The many benefits of owning a franchise are numerous. The franchiser’s brand is recognizable, and you can make money while running your business. Franchises with the highest profits are very rare to fail. This removes all of the risks that come with starting a business.
Towards the end of this article, I’ll answer some of the most frequently asked questions about the best franchise opportunities in 2022 and other online money-making alternatives.
But most importantly, you’ll be shown a system that many investors have used to build their own business to over $40,000+ per month in mostly passive income.
First, let’s look at what a franchise is, how to evaluate it, and which franchises are the best.
What Is A Franchise?
A franchise enables independent entrepreneurs to acquire the rights to the parent company’s logo, brand, and goods to run their business. The franchisee, who holds the rights to license their firm, sells the rights. The franchisee is the third-party owner and operator of the company sites.
A franchise is something that you are probably familiar with; perhaps you’ve even considered buying and owning one.
Which franchises best fit your skills and budget? Let’s see how I can help you further evaluate franchising opportunities.
How To Evaluate A Franchise Opportunity
A franchise cannot be regarded as universal. Prospective franchise owners who want to create a franchise should think about their budget and their support system.
Below are some points to consider:
Franchisees must pay an upfront payment or the initial franchise fee. This fee can be as high as hundreds of thousands of dollars.
The preferred method is to pay the franchise fee out-of-pocket. Some franchisers offer financing options, but I recommend investing at least $10,000 upfront.
Profitability
Before making any business choices, you must evaluate the worth of the investment. While it’s not an exact science, several criteria might help you assess a franchise’s profitability and feasibility.
- Unit Growth: Learn how many franchise locations have been opened recently.
- New Franchisee Success Rates: Check the percentage of franchises that remain operational after one year.
- Franchiser’s Financial Statement: Review the franchise disclosure document and examine average sales per unit.
Support Systems For Franchisees
When selecting a franchiser, consider how they support their new site.
For example, 7-Eleven accepts franchisees to their Dallas training center. They have a seminar and event center. However, not all franchises have the same resources, particularly smaller ones. Make sure you get some basic training.
Time Commitment
A franchise commitment will endure several decades, if not longer. You cannot shut a shop after one year; McDonald’s has been a franchisee for 20 years.
It’s crucial to remain with the company for a long time without taking on any other commitments, such as another career. You should not feel the need to leave within ten years. Choose a brand that’s easier to sell.
Available Territories
Even though they are all franchises, they tend to desire to develop in one location. It’s not commercially viable, for example, to launch a new franchise merely miles away from another or in a new market.
You need to verify that your target franchiser would like to open a business in your neighborhood. If so, determine if you are willing to relocate.
Brand Recognition Or Growth
How well-known is the brand that will be franchising it? How has the brand grown in the last year if it is smaller?
These two factors will determine the viability of a franchise to be operated for a brand. Sometimes, it’s not wise to choose a well-known brand with high upfront costs.
A smaller franchiser can be a more accessible entry point, provided the company has grown in revenue.
Let’s look at my list to help you choose the right franchise opportunity. These franchisees have seen significant growth during the pandemic and are the best franchises for 2022.
Let’s have a look at some franchises and see what they offer. I’ll cover what each franchise requires regarding the initial investment needed and the franchise fees. A franchise fee, which is a cost that potential franchisees pay upfront to manage the franchise, is what it is. Additionally, the initial investment amount does not include royalty fees, real estate, or inventory costs.
Let’s now look at these franchises and see how well they stack up. I’ll discuss the requirements for each franchise in terms of the fees and the initial investments you’ll need.
This information will be available at every opportunity:
- Category: This describes the type of business or industry being franchised.
- Franchise Fee: This fee is what potential franchisees pay up-front to be able to operate their franchise.
- Initial investment: This includes expenses like royalty fees and real estate.
- Financing Available: This will show you if financing options are available for your initial investments.
- Franchise Details: Click this link to go to the franchising webpage for your business.
1. McDonald’s
Category: Fast-Food Franchise
Franchise Fee: $45,000
Initial Investment: $1,008,000 to $2,214,080
Financing Available: Yes, through third-party lenders
Franchise Details: McDonald’s
It will take a significant initial investment to get your golden arches. With that initial investment, you will get the following:
- Brand recognition
- Popularity
- Years of experience in the industry
2. 7-Eleven
Category: Retail Franchise
Franchise Fee: $10,000 to $1,000,000
Initial Investment: $37,550 to $1,149,900
Financing Available: Yes, through 7-Eleven’s internal program
Franchise Details: 7-Eleven
7-Eleven has been named the best convenience store. This is a tremendous pace of growth. It provides turnkey shops that you may launch three to six months after finishing the testing and training.
3. Dunkin’
Category: Food & Drink Franchise
Franchise Fee: $40,000 to $90,000
Initial Investment: $109,700 to $1,637,700
Financing Available: Yes, through third-party lenders
Franchise Details: Dunkin’
Dunkin’ has dropped the word “Donuts,” but the company is just as well-known, with 32 locations across 32 countries. Brand Keys Customer Loyalty Engagement Index placed it at the top of customer loyalty. The franchisees are supported with training and assistance in site selection and construction, operations management, and marketing.
4. The UPS Store
Category: Printing and Packing Franchise
Franchise Fee: $29,950
Initial Investment: $138,433 to $460,031
Financing Available: Yes, through Guidant Financial
Franchise Details: The UPS Store
The UPS Store is a well-known franchise in the business services sector. It offers the following:
- Financial stability
- Brand awareness
- Dedicated training and support
Note that 84%of the U.S. population lives within 10 miles of a UPS Store.
5. Popeyes
Category: Fast-Food Franchise
Franchise Fee: $50,000
Initial Investment: $383,500 and $2,620,800
Financing Available: No
Franchise Details: Popeyes
Popeyes is consistently ranked as one of the top franchises to purchase in Entrepreneur’s Franchise 500 Rankings. It’s a well-known fast-food franchise with robust advertising strategies and well-developed core philosophies in the foodservice industry.
6. Sonic Drive-In
Category: Fast-Food Franchise
Franchise fee: $45,000
Initial Investment: $1,240,000 to $3,540,000
Financing Available: No
Franchise Details: Sonic Drive-In
This drive-in store prides itself on its operational excellence and customer service. This brand continues to grow. Its franchise owners made an average of $1.341,000 in gross franchise sales.
7. Great Clips
Category: Hair Salon Franchise
Franchise Fee: $20,000
Initial Investment: $136,900 to $259,400
Financing Available: Yes, through third-party lenders
Franchise Details: Great Clips
Great Clips is a well-established franchise company that has been in existence for over 30 years. It has made extensive market research investments to offer customers the best possible experience and service.
8. Taco Bell
Category: Fast-Food Franchise
Franchise Fee: $25,000 to $45,000
Initial Investment: $525,100 to $2,622,400
Financing Available: Yes, through third-party lenders
Franchise Details: Taco Bell
Taco Bell is the most profitable franchise to own, according to the 2021 Franchise 500 ranking. This fast-food restaurant brand has been around since 1950 and has built financial stability. It offers a proven operating system and access to resources for restaurants and a network of 350 franchisees who understand the business.
9. Kumon Math & Reading Centers
Category: Children’s Education Franchise
Franchise Fee: $1,000
Initial Investment: $74,428 – $156,590
Financing Available: No, but Kumon will shoulder up to $36,000 of your expenses
Franchise Details: Kumon
Kumon consistently ranks among the top 10 Entrepreneurs Franchise 500 List. This franchise is great because of its low price and potential for high profit in an era of remote learning.
10. Sport Clips
Category: Hair Salon Franchise
Franchise Fee: $59,500
Initial Investment: $224,800 to $373,300
Financing Available: Yes, via third-party lenders
Franchise Details: Sport Clips
Sport Clips is growing and has shown strength and stability over the past five years. It has a high consistency rate of 95.4%. It means that more than 95.4% have been opened today out of all the stores launched in the last five years. This stability is often attributed to low startup costs and solid support systems. They also monitor store performance.
Cheap/Low-Cost Franchises
An initial investment in a franchise is expensive. This can range from a few thousand up to over a billion dollars. Many industries offer franchises a low-cost business investment.
1. Cruise Planners
Category: Travel Franchise
Franchise Fee: $6,995
Initial Investment: $2,095 to $22,867
Financing Available: Yes, via third-party lenders
Franchise Details: Cruise Planners
Cruise Planners operates as a planning agency for cruises. You can work from home, so there is no need to add real estate costs. You don’t need to have any prior travel planning experience. The company also provides comprehensive training.
2. SuperGlass Windshield Repair
Category: Vehicle Maintenance Franchise
Franchise Fee: $9,500 to $28,500
Initial Investment: $9,910 to $31,000
Financing Available: No
Franchise Details: SuperGlass Windshield Repair
SuperGlass Windshield Repair, which has been in operation for over 30 years, specializes in repairing cracked windshields and rock-damaged windshields. The mobile option means that overhead costs are not as high, and a physical shop is unnecessary. It also offers on-the-job and classroom training.
3. JAN-PRO
Category: Cleaning and Maintenance Franchise
Franchise Fee: $2,520 to $44,000
Initial Investment: $3,985 to $51,605
Financing Available: Yes
Franchise Details: JAN-PRO
JAN-PRO is a commercial cleaning service franchise that caters to other businesses. You have three options for the franchise: international master franchise, executive-level business, or home-based.
4. Jazzercise
Category: Group Fitness Franchise
Franchise Fee: $1,250
Initial Investment: $2,500 to $38,000
Financing Available: No
Franchise Details: Jazzercise
A Jazzercise franchise is an excellent option if you’re looking to establish a low-investment exercise business. It has a variety of price points that you can start a franchise. You can also choose the one that best suits your needs.
5. Dream Vacations
Category: Travel Franchise
Franchise Fee: $495 to $9,800
Initial Investment: $3,245 to $21,850
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Financing Available: Yes, via their internal financing system
Franchise Details: Dream Vacations
Dream Vacations is a home-based travel agency franchise that involves no inventory and overhead; this reduces the initial investment. It’s an attractive investment opportunity for military veterans and has low investment costs.
Most Profitable Franchises
- Dunkin’
- 7-Eleven
- Planet Fitness
- JAN-PRO
- Taco Bell
- Orangetheory Fitness
- Great Clips
- Mac Tools
- Cruise Planners
- Jazzercise
- McDonald’s
- Mathnasium
- Jimmy John’s Gourmet Sandwiches
- Papa John’s
- Anytime Fitness
The above franchises experienced the most significant growth in their franchise locations last year; this is a crucial indicator of profitability.
Become An Entrepreneur By Buying A Franchise
You can start your own business or purchase a franchise through a major brand. While you have the advantages of working for a major brand, you can also enjoy the perks of your own company. If you can create a solid business plan that increases your profits, franchises are a good investment.
However, though franchising is a proven business model, it’s still important to examine your financial and personal goals before you consider business ownership, including asking yourself the following questions:
- What transferable skills do I have?
- How do I achieve my goals, dreams, and aspirations?
- How important does future growth for me?
- How much time will I invest in this business?
- What does my net value look like?
- How much money can I shell out?
- How much do I spend?
- Do I have the right time to think about starting a business?
What Is My #1 Recommendation For Making Money In 2022?
Alright, time for me to get real with my lovely readers for a moment:
I’ve personally tried all of the major online business models:
- I’ve sold fidget spinners through Amazon FBA
- I’ve drop-shipped a toilet bowl putting green on Shopify
- I’ve sold women’s health supplements via Clickbank affiliate marketing
And I made money with all of them, so trust me when I say: there is no “perfect” business model.
THAT BEING SAID: I would at least recommend you implement something that is tried and true because I’ve seen TOO MANY people (including friends and family) get burned by stuff like Franchise Opportunities.
They come out of left field with some random idea, make it seem attractive, and then make themselves a quick buck by luring in unsuspecting people.
I’m not saying Franchise Opportunities itself is a piece of trash; I’m just saying you need to be very, very careful.
This is why I only recommend proven, tried, and true business models, like Lead Generation & Ad Agencies.
There are a bunch of programs out there that teach you those skills, but my top choice is the Digital Rental Method program.
Why? It has proven leaders with their own 7-figure businesses implementing exactly what they teach you.
I’ve also got over a dozen personal friends there, so I feel comfortable telling you it works.
Their program works whether you’re a complete newbie or have been around the block before but have never had that “big win” to propel you forward.
Here’s why:
1)Time: You can do this if you’ve got a spare hour or two each day. If you want to drop everything and go all-in, you can do this. More time obviously means faster results, but even putting in a few hours per day is enough to see real success.
And because of that flexibility, you don’t need to trade your time for money. Once the income starts, it’s recurring (for the most part).
That means you can take a month off, travel the country, pursue a passion project, chill on the beach, or charter a boat across the world.
But you can only do that once you’ve created an income stream that doesn’t require YOU to be there all day, every day.
2)Big Margins: With most businesses, you’re often going to have really slim margins. That means you need to hit a serious scale to make serious money.
using the Digital Rental Method, your profit margin is nearly 100%. Watch here to learn how.
Just a reminder: these Digital Rental Properties are worth (at a minimum) $500/mo in semi-passive income. And each time you create another one, your income increases, and the effort put into creating the next property decreases.
Best-case scenario, you have properties bringing in over $3,000+/mo on “auto-pilot.”
3)It’s Effectively Copy-Paste: Here’s my favorite part: once you have your first Digital Rental Property up, you can literally copy-paste another version of it and find another willing “renter” in a few days. DOUBLING your income doesn’t get much easier than that…
If you wanted to double your income with franchising, you would need lots of time and effort. And I can guarantee you that’s a lot harder than a few clicks & a phone call.
4)You’re Helping REAL People: My biggest gripe with franchising is that you’re basically only helping yourself.
But With the Digital Rental Method, you’re helping solve REAL problems that people are ASKING for help with:
Small local businesses around the world need one thing: customers. Without them, their business would fall apart. If you can provide those customers, they’re going to be really happy – and they’re going to pay you for it.
You’re helping a struggling mother or father put food on the table for their families, put their kids through college, or simply live life a little bit more comfortably.
Having this type of impact on the world is what will help you sleep soundly at night.
So, the rest is up to you. You could keep looking at other off-the-wall business models like franchising and maybe hit it big one day.
You could keep researching and researching for the next few months (or few years), never making a concrete decision.
OR, you can look deep inside, think about those dreams, hopes, & desires, and make the decision to ACTUALLY make it happen, just like it has for thousands of other students before you.
Making a fortune while actually helping real people that need it.
If this sounds like you, click here to see how it all works.
