Joining a franchise is an excellent opportunity for entrepreneurs to grow their careers and become business owners. Franchises have the advantage of a proven business model, brand value, and a strong vendor and supplier network. You could become a franchise owner in any industry, from food and technology to cleaning and travel. One of the growing franchise opportunities is janitorial cleaning. But you must research about janitorial franchise opportunities before investing in one.
Factors for Choosing a Profitable Franchise
Choosing a profitable franchise is not an easy task. While some franchises will guarantee success year after year, some may have certain risks. Given below are factors to consider when choosing a profitable franchise:
Cost
Consider the amount it will cost you to invest in the franchise. This includes the franchise fee, the royalty fee, and the total investment. A low franchise fee will make it easy for you to earn large profits.
Support
Consider the franchisor infrastructure and training provided to you. Any franchise that offers marketing support, financial availability, and operational support will be worth investing in.
Growth
Research any business’s operating and open units. Check what the potential for growth in the business is. A high number of franchises across the country usually indicates a loyal customer base and a greater opportunity to make healthy profits.
Brand Value
It is always important to invest in businesses with a good brand name when investing in franchises. With social media and other exposure today, having a strong brand presence can help you make your franchise successful.
Franchises with Large Profits
Given below is a list of franchises that allow owners to make large profits:
Image One Franchise
Image One Franchise is a commercial cleaning franchise. It provides individuals with an opportunity to invest in one of the fastest-growing industries globally. Investors will be provided with training and support every step, making them capable of earning large profits. The initial investment for this franchise ranges from $42,625 to $216,675.
McDonald’s
McDonald’s as a franchise has great brand recognition. No matter where you are located, you will get a loyal customer base, an important factor for generating profits. Buying a McDonald’s franchise requires a large investment. Potential investors should have at least $500,000 in liquid assets to even be considered.
The UPS Store
The UPS Store has been ranked among the top five franchising opportunities by the Entrepreneur Magazine’s Franchise 500 List for three continuous years. This company is known for its world-class support and training provided to new franchisees. They also have strong brand recognition and an amazing reputation. Setting up a UPS Store franchise requires a comparatively low upfront investment. The company also offers several incentives and programs to ease the investor’s burden.
The Maids
The Maids has been a franchising company for over 40 years and has gained immense popularity. They have a strong support system to help franchise owners set up. An average Maids franchise earns about $1.1 million in annual revenue. Their initial fees and costs are lower than most other cleaning franchise opportunities. It requires less than $200,000 to set up a Maids franchise.
Pearle Vision
Pearle Vision was founded in 1961. This eye care brand has combined both medical experience and retail under one roof. The franchise chain is owned by Luxottica, the world’s largest eyewear company. This gives the franchise owners access to a large range of mid-tier and top-end designer sunglasses and other eyewear. Thanks to the brand backing and support system, franchise owners have a huge opportunity to make great profits.
Dream Vacations
Dream Vacations is a very popular travel-related franchise. It is considered one of the most profitable franchises globally because of its low-cost investment. The initial franchise fee can be as low as $495. The company also offers veterans, first responders, military spouses, medical professionals, and teachers financial incentives. The initial franchise fee can range from $495 to $9,800, depending on your experience.
Anytime Fitness
Anytime Fitness is a unique franchise opportunity. Their fitness facilities are open 24 hours a day, seven days a week, all year round. This constant availability of their services gives this franchise a great chance to earn large profits. The company is said to sign up one new member every minute. The franchise owners don’t have to pay monthly fees based on sales figures. Instead, they have to pay a flat monthly fee of $699, making it easy for owners to make more revenue.