Today, many young aspiring entrepreneurs who have always dreamt of starting their own small business are opting for franchising. The best thing about franchising is that you don’t have to worry about coming up with a new business idea as the business model is already made, all you need to do is understand the business and manage your franchise.
However, the franchise industry is quite tricky as the fate of the brand is volatile and it depends on the ever-evolving industry and the shifting behavior of the consumers. So, it is a huge financial risk to join hands with any of the best franchises. The best thing to is to gauge the risks and the profit and only then start a new venture.
If you do your research well, you will realize that while some of the best franchises that you can buy, like McDonalds and Pizza Hut that have a net worth of $700,000 or more, there are some best low-cost franchises that you can associate yourself with. Read along to know more about the three best franchises to buy this year.
Real Property Management
For decades, Real Property Management has been one of the top names in the world of property management and is one of the best franchises to buy today. In fact, the Entrepreneur Magazine has ranked it at 1st position amongst the top property management firms in the nation.
Are you new to the world of property management and not sure what property management entails? Basically, property manager’s job is to manage all the properties that are for sale, find tenants, maintain the properties that are out for sale and directly deal with the real estates and the owners of the property.
The best thing about this firm is that it provides immense support for the new members who join their franchise community by providing a variety of additional services like tech support, marketing support, and business development advice. You will need a financial budget that ranges somewhere between $ 86,795 to $ 117,795 to start this franchise. This cost includes the franchise fee of $45,000 that you need to deposit and an initial start-up fee that ranges from $41,795 to $72,795, which takes care of all the expenses that you incur while you start your franchise.
Cruise Planners is a trustworthy cruise planning agency, in fact, is the largest in the nation. This franchise is known to have its outlets in more than 2500 locations around the country and is one of the best franchises you can consider buying this year. The firm’s home-based business model happens to be one of the main reasons why many new entrepreneurs are taking interest in the cruise industry.
The best part about doing business with this firm is that it provides all the training you will require for your first time franchising experience and not just that, it also provides financial aids to people who wish to join the brand but feel that they are short on capital.
You will require a total startup investment of around $2,095 -$23,367 if you are planning to buy this franchise.
Launched in 2006, Amazing Athletes is present in over 650 locations in 28 states and it boasts of being one of the best franchises to buy, based on the owner satisfaction ratings. Amazing Athlete is an educational sports program that provides year-long training to kids between two-and-a-half years and six years old. The best thing about this program is that it promotes a non-competitive environment that ensures that there is no hustle and the kids are enjoying their sports.
This model has a home-based business model like the franchise mentioned above and it gives training to its new members. You will be required to pay a franchise fee of $25,000 to initially become a part of their franchise community. Overall, you will need to have a financial budget of around $25,000 to $55,650, as a startup investment if you are planning to buy this franchise.
Many people keep away from franchising because they have a misconception that they need to spend a fortune to buy a franchise. However, the truth is that there are many low-cost franchises that one can consider buying today to accumulate wealth in the long run.