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Sunday, April 26, 2015

Who Wants to Own Their Own Franchise? -- These Are Considered the Top 10!

Who Wants to Own Their Own Franchise? -- These Are Considered the Top 10!
Owning a franchise is one popular way of going into business for yourself. In some respects, it is less risky because your product is already well known, has its own customer base, and offers support from the franchiser, according to the International Franchise Association (IFA). But if you're going to do it, go with a winner, like these top 10.

Ranking and estimated start-up costs

Entrepreneur magazine lists these top 10 franchises according to their growth, estimated costs to start a franchise, and the amount of support franchisees receive from the company.

  • #1 - Hampton Hotels - this mid-price national hotel chain will require an investment of $4 million to $14 million. Owned by Hilton, the hotel chain has been on the top 500 franchise list for four out of the past 5 consecutive years.
  • #2 - Anytime Fitness Centers - this 24-hour fitness center franchise offers budget friendly start-up costs of $78,700 - $371,175 with a 5-year, renewable agreement. Almost half of all franchisees own more than one.
  • #3 - Subway Restaurants - this well-known food franchise draws loyal customers and requires a start-up investment of $116,600 - $263,150, with a 20-year renewable agreement. The company offers much in the way of marketing, training and national advertising support.
  • #4 - Jack In The Box - this burger franchise is one of the fastest-growing in 2015 and requires a commitment of $1,316,100 - $2,386,100. They are currently looking for new franchisees in the Southeast.
  • #5 - Supercuts - this hair salon has been one of the fastest-growing franchises for the past three years. An investment of $113,900 - $233,800 is required, and the company provides support in the form of ongoing training programs, national advertising and marketing.

The remaining top 10 include Jimmy Johns, Servepro, Denny's Restaurants, Pizza Hut, and 7-Eleven Convenience Stores.

To see the complete list of all 500 Entrepreneur rankings, go to www.entrepreneur.com/franchises/rankings/franchise500-115608/2015,-1.html
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