If you’re interested in going all-in on your own Franchise Business Ideas, or just starting one on the side, this article will offer you some helpful insights on getting things off the ground. The first step, of course, is to pick the fitting franchise business idea. When it comes to that, there is a lot of buzz out there, but there are also a lot of considerations to be given as to which franchise makes sense to join. Keep reading to discover How to Make Profit from Already Existing Brands.
The primary consideration would be whether the business venture would be profitable and whether these profits could be used to further grow the company. To maximize profits, a business owner must combine an effective business idea, a successful franchise, and the chance for high returns. So what franchises fit the bill best? Let’s explore the following segment that provides a comprehensive analysis of this information.
Franchise Business Ideas to Make Profit from
1. CarePatrol (Franchise Business Ideas)
Many families are looking to achieve independent living options, as well as opportunities for aided living arrangements. CarePatrol was established in 1994 by a social worker to help them do just that. The mission of the franchise extends to finding nursing homes, in-home care providers, and memory care offerings as well.
The real draw is that the end users are not subjected to pay for the services. The business owners get paid by more than 20,000 pre-vetted insurance brokers located all around the United States. If you share an ambition to help families conquer the emotionally challenging process of finding a home, then CarePatrol might be a great franchise choice for you.
With CarePatrol, as you meet the rising need of local families to find housing, you will be offered both economic gains and personal gratification. When you join the franchise as a business owner, you will be trained to become a trusted senior-care expert. The best part is, that you can start a CarePatrol company for little cost to you from your own home, alleviating the concern of having to rent an office, hire staff, and deal with other business issues that come with either of those aspects. There is just one franchising investment for starting a CarePatrol franchise, and that is a startup fee of $100,000.
2. Chester’s Chicken (Franchise Business Ideas)
There are quite a few fast-food franchise business ideas, but not all are as low-cost or as cost-effective as Chester’s Chickens. In fact, with a suitable layout, you can start a Chester’s Chicken for under $15,000. The upfront costs to join this franchise are also low, with a mere $3,500, so for an appropriate person in the right location, Chester’s Chicken can be an ideal option.
For those unfamiliar with Chester’s Chicken, it is a prominent southern fried chicken franchise with multiple franchise choices, with store-in-store possibilities included. So if you currently operate a convenience store or a supermarket, you can start selling Chester’s Chickens at your own locations easily. Chester’s Chicken operates out of mall food courts, airports, college campuses, and highway rest stop, securing designated locations inside of those sports.
3. Sports Clips (Franchise Business Ideas)
Because the economy will always be subject to a recession, you must always keep your business investments prudent. In terms of franchise businesses, you need to look to franchises with staying power offering a universally required service. Sports Clips is a great example of such a franchise because they have been successfully operating since the 1990s.
Rather than fall into the category of traditional men’s salons, Sports Clips has distinguished itself by transforming its brand into an engaging sports-themed environment for its clients. This has afforded the company low-cost, simple operations while being very cost-effective and high in revenue since it caters incredibly well to boys and men.
It is estimated that by 2025 the haircare sector will continue to be in the top tier of the most dependable industries as well as be worth about $105 billion. There is no need for a full-time presence on the administrative end for Sports Clips either as the task is essentially completed by itself. Since both genders are looking for both haircuts and beauty products, a business that caters to such things is always reliable, with the demand never ceasing.
The men’s haircare market has relatively low competition, but with more and more people discovering places like Sports Clips, the demand growth is perpetual, especially for such a well-known, established franchise.
4. Baskin Robbins (Franchise Business Ideas)
Just about $100,000 can buy the rights to join the world’s largest ice cream franchise. Aside from the 31-flavor ice cream menu, Baskin Robbins features frozen beverages and ice cream cake, making it incredibly popular with the masses. Though they have been in existence since 1945, they have developed and evolved steadily in order to stay ahead of the competition.
Recently, Baskin Robbins even introduced choices that are free of gluten and dairy. They even let customers earn points through a mobile app and place their orders online for pickup. In 2017, the company partnered with DoorDash to deliver ice cream to customers’ homes.
Not only does Baskin Robbins offer franchise funding for new location openings, but they also help veterans get started by discounting royalty rates and waiving a $25,000 franchise fee. If you were interested in purchasing an existing Baskin Robbins location, you can find all the options to do so right on the company’s website.
They are particularly interested, however, in making their presence in non-traditional settings alongside typical restaurants. These include transit terminals, airports, college campuses, and many other locations that host many prospective buyers with heavy foot traffic to generate maximum interest.
5. Ace Hardware (Franchise Business Ideas)
In the realm of household appliances and tools, mostly everyone is familiar with Ace Hardware stores. They have stood the test of time, staying in business since 1928. Getting in on this franchise is a sure thing and, even better than that, it’s not a challenging endeavor. The company provides several incentivizing alternatives like stock options, various services, and even merchandising shares. You can even run it alongside a grocery store.
Want to include in-home and handyman services? Ace Hardware allows such an extension with Ace Handyman Services. If you want to expand your existing small business, Ace Hardware will even provide start-up loans to help you get a store for the franchise off the ground. If that isn’t enough, they will only charge you $5,000 to get started. That’s a bargain by comparison to many other big-name franchises.
Since home tools and various household necessities are always in demand, you will quickly start making a lot of money selling products at a one-stop shop location selling these items. While it is true that the hardware market is highly competitive, it has not shrunk its demand. In fact, since 2016, it has grown at a persistent rate of over 5%.
6. Soccer Shots (Franchise Business Ideas)
If you are a fan of being sporty, then Soccer Shots may be the franchise for you. It also carries a great appeal to those seeking to improve the lives of local neighborhoods. Soccer Shots is the top-ranked children’s soccer franchise, featuring the Entrepreneur’s 500 lists. Back in 1998, there was a lot of frustration over the lack of soccer programs tailored for the youth, which prompted the start of the company that currently hosts course content that focuses on the improvement of the skill and character of children through soccer.
Coaches employed by the franchise are specially trained not just to educate kids about soccer, but how to motivate and engage with them. This is accomplished by introducing Soccer Shots programs very early on in child development by supplying brand products to preschool parks, daycares, and elementary schools.
The great thing about that is there are no worries about the very real hassles of securing a field (by purchase or rent), and the CareerPlug tools allow the seeking out of local coaches n the area for personnel. The program operates by creating awareness of the brand by hosting free days for enrolling children in soccer, through the utility of marketing collateral, and offering 30 to 40-minute soccer sessions.
Franchise owners are supplied with branded equipment, as well as assistance in terms of sales, marketing, and general operations. There is extensive training in forming relationships with community groups and schools. Soccer Shots does require, however, a franchise fee that can be as high as $34,500. This, however, is money that a tightly run organization can make back quickly.
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7. Property Management, Inc. (Franchise Business Ideas)
Did you know that 36% of Americans rent rather than own a home? This fact means that the property management industry in terms of supplying interested renters with available rental spaces is highly viable. With more than 200 franchise locations, Property Management Inc offers resources in coaching, marketing, and technology to its owners to help them succeed.
You might be wondering if you need to have any specialized qualifications to get into this industry, but with Property Management Inc, you actually do not. They provide all the comprehensive training required. So if you are new to the property management sphere, or you want to expand your existing company’s reach, Property Management Inc can provide a blueprint that is tried and tested for you to succeed as a property manager.
8. Baby Boot Camp (Franchise Business Ideas)
The Baby Boot Camp brand offers women a variety of fitness sessions, specifically including many popular outdoor activities that new moms can take their young children to. The mission of the company’s efforts is to help nursing mothers get back into pre-pregnancy shape, but they also provide nutritional and fitness workshops for women who are still expecting.
Clients primarily enjoy Baby Boot Camp thanks to its communal aspect, as well as the safe environment it provides for new mothers to meet other moms and other youngsters. Getting started in the process of becoming a franchise involves a low franchise upfront cost in a new region. Those regions already hosting a Baby Boot Camp franchise are listed on the company’s website and could be purchased at a discounted price.
While Baby Boot Camp is all about teaching a skill, no prior teaching expertise is actually required. On top of that, there are just 150 Baby Boot Camp franchises in the US today, so they exist in a sector that has not been saturated yet. That means that getting into this line of franchise business is at its best time now.
Franchise Business Ideas: Closing Thought
What we outlined above is a great list of franchises that you can start and make a profit from quickly, but this is just scratching the surface of the many business ideas out there. The above, however, are generally seen as the most trustworthy, cost-effective, reliable, and well-established business ideas that secure a great place to start your research.
Some may struggle with a choice between starting a business and building it from the ground up or starting a branch of an established franchise. From the above suggestions, we recommend CarePatrol, as it allows you to not just profit, but to do so with minimal upfront expenses and perform a very important social duty.
Frequently Asked Questions:
What is the franchise-establishing process?
The primary requirement of establishing a branch of any franchise company, regardless of whether it is a banking institution, salon, or restaurant, is to pay an upfront licensing fee, also known as the “franchise fee.” This payment secures a right to use the business’s name. Once paid, you will be provided specific instructions from headquarters as to how the branch should be run. As the business gets off the ground, there will be an annual licensing renewal fee due to retaining the right to use the franchise’s name.
What are the 4 types of franchising?
There are four types of franchise agreements: single-unit, multi-unit, area development, and master. Single-unit is for one location, multi-unit for multiple locations, area development for a specific region, and master for sub-licensing rights in a designated territory.
Which type of franchise is best?
Business format franchising is the most common type of franchise system and is often referred to when discussing franchising. A wide range of businesses from over 70 industries can be franchised, including fast food, retail, restaurants, business services, fitness, and others. Some of the most popular industries for franchising include fast food, retail, and restaurants.