Franchise Business Opportunity
If you have been thinking about starting your own business, you may have realized that starting from scratch can be quite difficult. You may choose that option or you may consider a franchise through an established company. There are tons of options available ranging in start-up costs. Investing money means you want to be sure that this will be worth your time and money. Before deciding, you want to consider the growth of the franchise opportunities available. Read on for more information on some of the fastest growing franchises.
Dunkin' Donuts is a well-known and fast-growing company. Who doesn't like coffee and doughnuts? Offering 70 doughnut varieties along with coffee, bagels, and other menu items has been a definite plus for this company, and entrepreneurs are noticing. Franchise growth rates are approximately 2.6% in one year and up to 9.6% in three years. These growth rates have equaled nearly 10,000 franchises in America. Internationally, there are another 3,000 units in over 32 countries. Initial investments range from $229,000 to $1,700,000. This may seem like a large investment, but with global sales in the billions, it is highly likely that you will easily make that back.
Another fast-growing franchise is 7-Eleven. What started as nothing more than one man selling ice and staples such as bread and milk has become one of the largest convenience store chains. This chain grew from approximately 33,000 units worldwide to over 64,000 units worldwide in only six years, nearly doubling the chain size. The investment for this franchise opportunity ranges from $47,000 to $1,165,400. With its catchy name and convenient 24-hour service, 7-Eleven stores are popping up everywhere, making it a likely worthy investment.
Looking to break into the health and fitness industry? Planet Fitness is a perfect opportunity for you. Just nine years ago, this company had 267 franchises in the United States and none internationally. As of 2018, there are 1506 units in America and it's starting to branch out internationally. Though the initial investment is high, ranging from $969,600 to $4,242,500, Planet Fitness is known for having a high return on investment. With its low membership prices, fun member activities each month, and its convenient, late night hours, it is an easy choice in most cities compared to other gyms. It has a reported excess of 7 million members and looking to grow. Health and fitness is a great industry. Investing in a company like Planet Fitness might be the best move you could ever make.
Investing in a franchise can be a smart move for those willing to commit to it. There are many advantages to running one. In addition to a much easier start up, the companies offering the franchise opportunities will train the franchise owner to ensure success. Instead of figuring things out for yourself, you have the support of an established company behind you. Statistically speaking, franchises have a higher success rate- 90% as opposed to a mere 15% of businesses started from scratch. These benefits have many entrepreneurs choosing to invest in franchises instead of starting their own company.