Are you ready to go into business for yourself, and open a franchise? Well, there a lot of different things to consider when choosing the right franchise for you and your future. Below are five franchises that represent either the steadiest or most growth in their respective industry, and any of the five options are worth considering as you embark on your franchise journey.
Restaurant: Dunkin’ Donuts
This coffee shop and bakery has been around since 1950 and began franchising five, short years later. There are more than 11,300 Dunkin’ Donuts locations worldwide, with 3,200 international restaurants in 36 countries according to the Franchise Times.
Startup Costs and On-going Fees
- Initial Investment
$228,621 – $1,717,103 - Net-worth Requirement
$500,000 - Liquid Cash Requirement
$250,000 - Initial Franchise Fee
$40,000 – $90,000 - Ongoing Royalty Fee
5.9% - Ad Royalty Fee
5%
Industry growth: +3.4%+409 UNITS (1 Year) +12.3%+1357 UNITS (3 Years)
If steady growth is what you’re looking for, then Dunkin’ Donuts is the way to go.
Health and Wellness: Planet Fitness
Planet Fitness is a gym and fitness center focused on occasional or first-time gym users. Their affordable, non-intimidating, ‘average joe’ fitness concept continues to expand throughout the country and internationally. Planet Fitness had an incredible third quarter this year. Same-store sales were up 10 percent, lapping 9 percent same-store sales growth in the same quarter last year. That’s some impressive growth, well beyond the 44 locations that put the company beyond the 1,600 mark according to the Franchise Times.
Startup Costs and On-going Fees
- Initial Investment
$969,600 – $4,242,500 - Net-worth Requirement
$1,500,000 - Liquid Cash Requirement
$600,000 - Initial Franchise Fee
$20,000 – $20,000 - Ongoing Royalty Fee
7% - Ad Royalty Fee
9%
Industry growth: +25.5%+287 UNITS (1 Year) +53.7%+493 UNITS (3 Years)
With a 25 percent growth this year alone, Planet Fitness is the fastest growing franchise on our list.
Beauty and Grooming: Sports Clips
For 25 years, Sports Clips Haircuts has been raising the bar in the men’s hair salon industry. It’s a proven concept that is simple and easy to execute; a great haircut experience for men and boys’ in a sports-themed environment, at a reasonable price. In a recession-proof, industry with high loyalty and relatively fast return customer rate (3 – 4 weeks), this franchise is a great potential investment according to Franchise Gator.
Startup Costs and On-going Fees
- Initial Investment
$204,800 – $368,300 - Net-worth Requirement
$400,000 - Liquid Cash Requirement
$200,000 - Initial Franchise Fee
$25,000 – $59,500 - Ongoing Royalty Fee
6% - Ad Royalty Fee
5%
Industry growth: +8.5%+132 UNITS (1 Year) +30.2%+392 UNITS (3 Years)
Pet Care: Camp Bow Wow
Never underestimate the love that pet owners have for their furry friends. Camp Bow Wow®, the largest and leading doggy daycare, and boarding franchise kicked off 2018 on a high note as the brand has been recognized for the third consecutive year as #1 in the Pet Businesses Franchises category on Entrepreneur’s Franchise 500 list according to prnewswire.com. This franchise has also seen tremendous growth over the past three years, and is definitely one to watch and consider.
Startup Costs and On-going Fees
- Initial Investment
$783,500 – $1,485,000 - Net-worth Requirement
$500,000 - Liquid Cash Requirement
$200,000 - Initial Franchise Fee
$50,000 – $50,000 - Ongoing Royalty Fee
7% - Ad Royalty Fee
1%
Industry growth: +5.9%+8 UNITS (1 Year) +20.2%+24 UNITS (3 Years)
Home Improvement: ACE Hardware
Ace Hardware is the largest retail-owned hardware and home improvement business in the world. Although it is considered a franchised business, Ace is formally classified as a retailers’ cooperative. That means Ace franchisees are not only owners of the franchise, but they are also shareholders in the company according to the Franchise Times.
Startup Costs and Fees
- Initial Investment
$272,500 – $1,574,230 - Net-worth Requirement
$400,000 - Liquid Cash Requirement
$250,000 - Initial Franchise Fee
$5,000 – $5,000
Industry growth: +2.1%+102 UNITS (1 Year) +3.0%+146 UNITS (3 Years)
References:
