Franchise startups are not for the faint of heart, but if you can get hold of a lucrative one,you won’t regret it. So, how do you know if you’ve hit the jackpot and what are the top 5 franchises to look at? You’re in the right place, let’s get started.
Top 5 Franchises Worth Investigating in 2020
Financial Requirements: Your cash requirement is $20,000 and the initial startup cost is between $125,000 to $148,000.
Kona has been a successful franchise since 2008. Their product meets all the legal nutritional requirements for schools, which is part of why it is successful. The business is customizable with a choice of equipment to suit your business plan. The Kona Kiosk, mini, trailer and KEV 2.0. They have strong corporate support and digital marketing that creates the buzz that brings the custom to you. They’re a fixed royalty company with low overhead and quick 30 to 60 day startup time.
Financial Requirements: Your cash requirement is around $58,000. Initial startup costs are $83,000 and $129,000.
Visiting Angels has been a home health care agency since 1998. It’s rated by Franchise Business Review in first and third place for statuses such as Top 50 Best of the Best and number one for All Senior Care Franchises. In 2015, the franchise revenue topped over one million. It’s the most searched for agency in the nation on Google. It has strong corporate support and marketing.
Financial Statistics: This is a franchise on the lower end for both cash required, which is $9,800 and initial startup cost at $3,245 to just under $22,000. They’re also flexible with that. If you have $3,500, you can finance the rest.
App-driven and online travel booking is a prime market and set to do even better. Their business leads are the majority free. Some of those resources include, booking apps, partnerships with companies such as American Express; loyalty program; direct mail and effective social media strategy. You’ll receive hundreds of training manuals to compliment your six day training and personal training manager.
Everyone remembers the mouse logo and car. They’re an old well-established company and still going strong. The startup cash isn’t cheap but the ROI could be worth it.
Financial Requirement: Cash $35,000 and Initial startup cost is between $50,000 and just under $300,000.
Truly Nolen has been a franchise since 1998 but in operation as a company since 1938. The best thing about Truly Nolen is that it’s a friendly and recognizable brand. That means trust and trust means customers. The training is strong and available in person, online or manual-based. They’re a full-service pest and rodent control with commercial, residential and special services.
Expedia Cruise Ship Center:
This is a recognizable name with one of the biggest brands in travel to back it.
Financial Requirement: Cash $100,000 and initial startup is between $156,000 and just under $277,000.
This is not an inexpensive franchise but as we said it’s a popular brand. Studies show a 70% increase of cruisers that want to book with a travel agent. Strong corporate support for the franchise. You have the security of having a franchise with more than 30 years of success.
Deciding to invest in a franchise has its pros and cons. The secret is to research and ask questions. If you want professional help you can call Franchise Direct. Make certain that you invest in something that’s got some real backing by the corporate office and that their marketing is up to snuff. Beyond that it takes commitment and since you’re here, we know you’ve got it.