Uncover Lucrative Franchise Opportunities for Success

Choosing the right business to invest in is never easy. But with the recent global turmoil, it has become even more difficult.

The most profitable franchise opportunities in today’s business landscape will depend on your specific circumstances and goals.

Starting a business or franchise is the most popular business choice since they have an established market and proven track record. Potential franchisees can easily find franchises that satisfy their needs, from food to healthcare, in their own territory.

In this blog, we’ll take a tour of the top franchise opportunities on offer and discover the key decisions behind finding the perfect franchise for your next venture!

Factors to Consider Before Taking on a Franchise Opportunity

Market Potential

Assess the market potential of the franchise opportunity by considering factors such as market size, growth rate, competition, and consumer demand.¹

Financial Viability

Evaluate the financial aspects of the franchise opportunity, including initial investment costs, ongoing fees, royalty payments, and the potential return on investment.²

Franchisor Support

Research the level of support provided by the franchisor, including training programs, marketing support, operational guidance, and ongoing assistance.³

Brand Reputation

Consider the reputation and recognition of the franchise brand in the market, as it can significantly impact the success of the business.⁴

Franchise Agreement

Carefully review the terms and conditions of the franchise agreement, including the duration, renewal options, territorial rights, and any restrictions or obligations.⁵

Market Research

Conduct thorough market research to understand the target audience, customer preferences, and competitive landscape in the specific location where the franchise will operate.⁶

Operational Requirements

Evaluate the operational requirements of the franchise, including staffing needs, inventory management, supply chain logistics, and any specific industry regulations.⁷

Franchisee Satisfaction

Assess the satisfaction levels of existing franchisees by seeking feedback and testimonials, as their experiences can provide valuable insights into the franchise opportunity.⁸

Growth Potential

Consider the growth potential of the franchise opportunity, including the possibility of expanding into new markets or offering additional products or services.⁹

Personal Fit

Evaluate your own skills, experience, and interests to determine if the franchise opportunity aligns with your strengths and goals as a business owner.¹⁰

Legal and Regulatory Compliance

Ensure that the franchise opportunity complies with all relevant laws, regulations, and licensing requirements in the specific location where the business will operate.¹¹

Social and Environmental Responsibility

Consider the social and environmental impact of the franchise opportunity, including the franchisor’s commitment to sustainability, ethical practices, and community engagement.¹²

Ideas for Franchise Opportunities

FirstLight Home Care

This is one of the largest and fastest-growing franchise opportunities in America. The company is looking to expand its presence, so now would be a perfect time to invest! FirstLight Home Care provides necessary care for seniors and those with disabilities at home by sending well-trained caregivers who specialize in personal care services such as bathing, grooming, dressing and meal preparations.

The UPS Store Franchise Opportunities

The great thing about this franchise is that it already has a national presence and people know the name. They focus on small businesses by offering them low-cost printing, faxing, notary services, mailbox rentals and more. This makes starting up much easier for any entrepreneur and new business owner looking to expand! But you better make a move quickly, as they are currently expanding and looking to add franchisees.

Fully Promoted

Fully Promoted is a franchise opportunity in the promotional products industry. They want to expand their already existing base of customers by reaching out to new demographics. If you are looking for an established business with over 30 years of experience, this might be the one!

Grease Monkey Franchise Opportunities

Grease Monkey was founded in 2001 and has since expanded to over 1400 locations. The company specializes in providing franchise opportunities for small business owners quick, high-quality oil changes with the help of trained professionals. Their franchisees benefit from their initial training program as well as access to marketing materials for each location.

Home Clean Heroes Franchising, LLC

This franchise deep cleans homes to give them a “brand-new look.” They pride themselves in offering excellent service while providing affordable rates. This is the perfect opportunity for those looking for an easy way into business ownership!

H&R Block at Home Franchise Opportunities

H&R Block is one of the most respected and popular tax preparation companies. They can be found in more than 12,000 locations across America! This franchise opportunity gives you access to their tools and data as well as a proven system for helping customers find all available deductions. This is one of the franchise opportunities which offers tax preparation and other financial services. They want to expand their market by reaching out into new demographics while developing a strong customer base!

Krispy Krunchy Chicken Franchise Opportunities

If you are looking to invest in a franchise with an already established brand, this might be the one for you! Krispy Krunchy Chicken is known for their tasty fried chicken and Cajun style cuisine. The food tastes great but it’s also very affordable. This business has been around since 1989 so they know how to bring the heat (and flavor)!

Kumon Math & Reading Centers

Kumon is an after-school math and reading program for children between the ages of three and twelve. The company has been around since 1950 so they have a strong track record! They want to bring their expertise to more customers by reaching out into new markets, which means you get access to this expanding customer base with your franchise purchase!

Midas International Corporation Franchise Opportunities

Midas is a full-service auto repair franchise opportunities that has been around since 1952. They want to expand their market by reaching out into new demographics with the help of new franchisees. This will allow them to provide better service and support for more customers!

NerdsToGo, Inc. Franchise Opportunities

NerdsToGo is a computer repair franchise that offers customers competitive rates on their services. This business has been around since 2001 and they pride themselves in providing excellent service! They are looking for new franchisees to help them expand into more markets, which means you get access to this already established customer base with your purchase of the franchise!

EZ Office Products & Services, LLC Franchise Opportunities

This franchise provides office products and services to their customers. They help save time while providing excellent customer service with competitive rates! This company has been around since 1981 so they know what works best in this industry. Their goal is not only to grow but also develop strong relationships with each franchisee as well as their customers.

The Maids Home Services, Inc. Franchise Opportunities

This is one of the franchise opportunities has been around since 1976 and they provide a wide range of home services to help make you feel like your house is truly clean! They offer competitive rates while providing excellent service from trained professionals who understand the importance of having a great looking house! This franchise opportunity gives you access to their tools and data as well as a proven system for helping customers find all available deductions.

Parlay Cafe

Parlay Cafe is one of the most innovative coffee Franchise Opportunities. They provide their customers with fresh food and beverages in an efficient environment! This company has been around since 2001 so they have a strong track record of providing excellent service to their customers while maintaining high standards for the products that they serve.

Pizza Factory Franchise Opportunities

Pizza Factory is one of the largest pizza franchise chains in America. They want to expand their market by reaching out into new demographics while also developing a strong customer base! This company has been around since 1978 so they know what it takes to succeed.

Pure Barre Franchise Opportunities

If you are looking for an exercise franchise business, you should consider the Pure Barre Franchise. They are looking for new franchisees to help them expand into more markets! This company has been around since 2001 so they have a strong track record of providing excellent service and support.

Regency Beauty Institute Franchise Opportunities

If you’re interested in training as a cosmetologist, you should consider the Regency Beauty Institute. They are looking for new franchisees to help them expand into more markets which means you get access to this already established customer base with your purchase of their franchise!

Tasti D-Lite Franchise Opportunities

If you’re interested in getting involved with a delicious dessert franchise business, you should consider the Tasti D-Lite Franchise. This company has been around since 2009 and they pride themselves in providing excellent customer service! They are looking for new franchisees to help them expand into more markets, which means you get access.

The Creme Shop LLC

This ice cream shop focuses on serving unique, high-quality ice cream to help you have a fun and satisfying experience each time! They want to expand their market by reaching out into new demographics with the help of new franchisees. This will allow them to provide better service.

Home Helpers Franchise Opportunities

This home care business helps people get assistance with a variety of needs. They provide in-home care to the elderly and other individuals who need a little help with daily activities such as cleaning, cooking or laundry! This is one of the Franchise Opportunities which has been around since 2001 so they have a strong track record.

Pinch A Penny, Inc.

This franchise trend focuses on helping individuals with their money management. They provide peace of mind that comes along with knowing you are always prepared for the future! This company has been around since 1995 so they have a strong track record of providing excellent service to their customers.

Enviro-Master Franchise Opportunities

This franchise allows you to help individuals and businesses with their dumpster needs! They provide a reliable service that can be customized based on the specific requirements of each customer. This company has been around since 1988 so they have a strong track record of providing excellent service to their customers.

Great Clips Franchise Opportunities

This franchise gives you access to a well-known brand that has been around since 1982! This company is looking for new owners so they can reach out into more markets and provide the best haircuts! They have over 4000 locations which means you get access to an already established customer base!

Jazzercise Franchise Opportunities

This franchise focuses on helping individuals get fit and healthy through fun, high energy exercise! They have been around since 1969 which means they know what it takes to succeed. This company is looking for new owners so they can reach out into more markets and provide the best fitness experience possible!

Dream Vacations

This company focuses on giving you access to discounted travel through their website. They have been around since 1994 so they know what it takes to succeed! This business has over 2000 resorts listed which means you get access to an already established customer base with your purchase of their franchise!

Cruise Planners Franchise Opportunities

This cruise agency gives you access to a well-known brand that has been around since 1984! They provide their customers with discounted rates on cruises which means they have an already established customer base. This company is looking for new owners so they can reach out into more markets and spread the love of cruising!

Pool Scouts Franchise Opportunities

This franchise provides individuals with the chance to start their own business by helping sell pool products! They provide you with all of the tools and resources necessary for success.

uBreakiFix Franchise Opportunities

This is a leading tech repair brand with more than 275 stores across North America, specializing in same-day repair service of small electronics.

uBreakiFix specializes in same-day repair service of small electronic devices including phones, tablets, computers and game consoles. It was founded by Justin Wetherill and David Reiff who saw the need for a brick and mortar tech repair option for the masses.

Tint World

Tint World is one of the nation’s leading window tinting companies. They are currently operating over 240 locations across the United States and Canada, employing thousands of people within their franchise system. The company has been in business for more than 20 years now which speaks volumes about its performance record.

The Spice & Tea Exchange Franchising, LLC

The Spice & Tea Exchange is an award-winning specialty retailer of the finest quality teas and spices. The company provides a worldwide selection of more than 150 tea varieties from around 40 countries, as well as over 200 different spices to suit every palate and recipe preference.

The Growth Coach Franchise Opportunities

The Growth Coach is a leading franchise consulting firm that helps entrepreneurs start, improve or expand their businesses. Their three decades of experience in the industry has taught them some valuable lessons about what it takes to run successful business ventures and they are more than willing to share this knowledge with others who want to achieve similar results.

Dependable Home Services

Dependable Home Services is a full-service property maintenance company that specializes in home repairs, remodeling and renovations. It has worked with thousands of clients across the country for more than two decades now which means they have an extensive understanding about what it takes to deliver excellent service on every job site.

Sir Speedy Print Signs Marketing

Sir Speedy Print Signs Marketing is one of the largest franchisors in North America, with more than 120 stores under its belt. It specializes in sign and graphics solutions for all kinds of businesses that need to communicate important information about their products or services within a specific geographic area.

School of Rock Franchise Opportunities

This is a great franchise opportunity post-Pandemic. Schools are the perfect place to go during an epidemic since children do not have to be home with their parents, but still, get quality education in small groups. The School of Rock Franchise is good for people who love music and want to teach it as well!

Where Can You Find The Best New Franchises?

Franchising Firms

The first place I’d suggest is going straight to franchising companies. They will be able to approve your application and help guide you along with your choices. They have business opportunities that are all ready to go and will be able to provide you with any training or support you need.

Online Franchise Directories

Another place I’d suggest is going on online directories such as Business Brokers, Franchising Firms, Going Rate Media and Private Label Rights Inc. These websites give a wide variety of franchise opportunities that are listed on their site.

Google it!

I’d also suggest using the Google search engine to do some research! By typing in your keywords you’ll find a list of websites which might have information regarding business opportunities, financials or reviews about various franchises currently available for purchase. You can use this data to help make an informed decision

Or try franchise websites such as;

Franchise.org
WorldFranchiseCenter.com
Franchise Diect
ADP

What is the Most Profitable Franchise to Own?

A franchise that can be operated from home or a low-cost business is the best choice to make during a pandemic.

If you are looking for high profits and low start-up costs then you should consider franchises such as;

Tutoring
Cleaning
Gardening
Dog Walking
Resume/ CV writing
Childcare

Plan to Find The Perfect Franchise

When choosing your perfect franchise remember the following key points;

1) Evaluate your skills and interests.

Ask yourself if you are interested in the franchise industry. If no, continue looking for another opportunity. If yes, then move to step two.

Assess your skills and how they will translate into success at the chosen business. For example: Do you have good public speaking abilities? Then a restaurant would be an ideal choice.

Before entering into any franchise contract, it is important to understand your core competencies and how they will allow you to be successful at the chosen business model. If this sounds overwhelming, reach out for help because finding a good opportunity post pandemic can be challenging but very rewarding if done right!

2) Determine Your Life Goals and Financial Situation

What is your end goal? Write out a clear plan of action. For example: You want to be able to own a home in five years, save for retirement by the age of 45, and send your kids to college with ease. Your end goal should include specific goals such as these. Also, add in any other life goals that are important to you.

Write out your monthly expenses and income sources (i.e. salary, dividends, etc.). How much can you afford to spend on a franchise fee? How much do you want to make in the first year of business ownership? Are there regional differences when it comes to the cost of living?

Write out a reasonable budget for the type of franchise you are looking at. How much can you spend on other business expenses such as marketing, signage, and equipment? If money is an issue in your life right now, look into borrowing from family or friends to help get started with finding the best opportunity post-pandemic. You can always find a way to make it work!

Look into whether the franchise fee is refundable. If so, determine how much of that money you can afford to spend if this opportunity does not turn out as expected. In general though, experts recommend putting down at least 30% on any type of business investment because there are risks involved in buying a franchise.

If you are uncomfortable making all of these calculations on your own, reach out to financial experts who can help guide you in the right direction! You do not want to invest into something that is not financially feasible for you and your family.

3) Consider what type of industry would be ideal for you

Some industries are more profitable than others, despite the pandemic. Industries to consider include; food and beverage, hospitality, retail/clothing stores, medical services (i.e. doctor’s offices), home improvement businesses (ex.: construction or carpet cleaning).

Don’t forget about services that can be provided from home. If you have a reliable vehicle and live in a property with ample space, consider starting your own business providing cleaning or lawn care services!

Think about the skills and resources required to run each type of franchise. For example: A food truck requires more physical labor than a restaurant because it is on wheels and does not have a full kitchen. A hotel franchise requires very little maintenance because the business is already up and running, but it also does not turn as many profits as other types of businesses do during a pandemic situation.

Research to see if there are any local or state regulations that may affect your choice in industry. If you want to start a food business, for example, your state may require you to be certified in safe food handling practices.

Make sure that the franchise you choose is already well known and has a good reputation among past customers! If it’s not common or popular yet (i.e., an unknown local restaurant), then determine if there is enough demand to make a profit.

Make sure you will enjoy the work or industry that you choose because it is important to be passionate about your business and what you do on a daily basis! If there isn’t enough demand for certain franchises, then consider getting into the service sector instead of selling goods. This option may not provide as much income but can still be profitable if you find the right types of clients.

If your goal is to make as much money as possible, then look for a franchise that has high growth potential and will not become too saturated in your area! There are many franchises out there that have yet to expand into certain areas but could be very successful with just one or two more locations!

Make sure to do your research before you commit. Find out how much it is going to cost and if this franchise has a good reputation among past customers or communities that will be buying from them in the future. Do not feel pressured into investing into something that does not sound like a great fit for you, no matter how popular or well-known it is.

If you have a large family, consider investing in franchises that will provide multiple income streams for your household! For example, owning a franchise hotel can bring in more money from long-term stays as opposed to those who are just staying the night before returning home from their flights.

4) Determine which franchises are still operating during this time

Some franchises are able to continue operating during a pandemic because they have unique or special services that other places may not offer. Consider this when determining which ones you want to invest in! What makes these businesses different? Why will people still come back after the pandemic has ended? How do you plan on marketing your business so it will not be affected by the pandemic and will still run smoothly?

Do your research! Make sure to look into which brands are most popular so you can see if what they offer would suit your personal skills or interests. Some people might want a business that allows them to interact with customers on a daily basis, whereas others may prefer working from home and not having to deal with the public.

If you want a business that will provide multiple income streams, then look for ones that can be ran by other people in your family if needed! For example: A food truck franchise may require more physical labor than a restaurant because it is on wheels and does not have a full kitchen. A hotel franchise requires very little maintenance because the business is already up and running, but it also does not turn as many profits as other types of businesses do during a pandemic situation.

FAQs

What is the best franchise to start in 2023?

Franchises which can be carried out from a home office such as; web development, social media marketing and telemarketing are the best to start post-pandemic.

To ensure your business will be able to operate successfully you should consider things like; customer base, location or product demand. If your franchise provides an essential service, such as; food delivery or taxi service you should also consider how your business can benefit from an increase demand for this product.

Where Should I Look For Potential Franchise Businesses?

While some people may want to look into the most popular brands, this is not always a good idea during a pandemic.

What franchise can I buy for $10,000?

That all depends on your personal skills and interests! Some franchises may require a little more money to get started, but their profits are also higher. The majority of franchises cost between $100,000- $300,000.¹³

In Conclusion

It may seem like quite an undertaking at first but it is worth taking some time to write out your goals, assess your skills and interests, determine financial feasibility, and ask yourself whether you are truly interested in the franchise industry. You will be able to find the best opportunity for a franchise post-pandemic by following these four steps!

Choose your Franchise: Now that we’ve explored some options, it’s time to choose the best one for you. Remember that not all opportunities are created equal, so consider your specific needs before making a final decision!

References

Welsh, D. H., Alon, I., & Falbe, C. M. (2006). An examination of international retail franchising in emerging markets. Journal of Small Business Management, 44(1), 130-149. https://doi.org/10.1111/j.1540-627x.2006.00158.x
Welsh, D. H., Alon, I., & Falbe, C. M. (2006). An examination of international retail franchising in emerging markets. Journal of Small Business Management, 44(1), 130-149. https://doi.org/10.1111/j.1540-627x.2006.00158.x
Welsh, D. H., Alon, I., & Falbe, C. M. (2006). An examination of international retail franchising in emerging markets. Journal of Small Business Management, 44(1), 130-149. https://doi.org/10.1111/j.1540-627x.2006.00158.x
Zachary, M. A., McKenny, A. F., Short, J. C., Davis, K. C., & Wu, D. (2011). Franchise branding: an organizational identity perspective. Journal of the Academy of Marketing Science, 39(4), 629-645. https://doi.org/10.1007/s11747-011-0252-7
Welsh, D. H., Alon, I., & Falbe, C. M. (2006). An examination of international retail franchising in emerging markets. Journal of Small Business Management, 44(1), 130-149. https://doi.org/10.1111/j.1540-627x.2006.00158.x
Xu, X. (2018). Examining the relevance of online customer textual reviews on hotels’ product and service attributes. Journal of Hospitality &Amp; Tourism Research, 43(1), 141-163. https://doi.org/10.1177/1096348018764573
Welsh, D. H., Alon, I., & Falbe, C. M. (2006). An examination of international retail franchising in emerging markets. Journal of Small Business Management, 44(1), 130-149. https://doi.org/10.1111/j.1540-627x.2006.00158.x
Welsh, D. H., Alon, I., & Falbe, C. M. (2006). An examination of international retail franchising in emerging markets. Journal of Small Business Management, 44(1), 130-149. https://doi.org/10.1111/j.1540-627x.2006.00158.x
Nasri, B. M., Collazzo, P., & Welsh, D. H. (2020). Home-grown middle eastern franchises: prospects for the future. International Entrepreneurship and Management Journal, 17(4), 1657-1671. https://doi.org/10.1007/s11365-020-00677-8
Welsh, D. H., Alon, I., & Falbe, C. M. (2006). An examination of international retail franchising in emerging markets. Journal of Small Business Management, 44(1), 130-149. https://doi.org/10.1111/j.1540-627x.2006.00158.x
Welsh, D. H., Alon, I., & Falbe, C. M. (2006). An examination of international retail franchising in emerging markets. Journal of Small Business Management, 44(1), 130-149. https://doi.org/10.1111/j.1540-627x.2006.00158.x
O’Connell, K. A., Hom, M., Aung, T., Theuss, M., & Huntington, D. (2011). Using and joining a franchised private sector provider network in myanmar. PLoS ONE, 6(12), e28364. https://doi.org/10.1371/journal.pone.0028364
2023 Franchise Facts & Stats: Everything You Wanted to Know. (2023, April 15). Www.Smallbizgenius.Net. https://www.smallbizgenius.net/by-the-numbers/franchise-facts/
Petkovic, B. (2022, January 9). 24 Fascinating Franchise Facts & Statistics You Wanna Know. CapitalCounselor. https://capitalcounselor.com/franchise-facts/
Franchise Startup Costs. (2021, January 12). Adp.Com. https://www.adp.com/resources/articles-and-insights/articles/f/franchise-startup-costs.aspx