Originally seen in American Business Credit.
A growing number of people are once again realizing that investing in a franchise is a good business and financial decision. However, with so many opportunities to compare and choose from, it can be a challenge to determine where to start.
Some franchises are better than others based on a variety of factors, including but not limited to:
- Franchisor support
- Brand recognition
- Company stability
- Number of years in business
- Number of locations
- Investment required
Rather than search through thousands of franchise opportunities, consider investing in one of the following 10. These are among the best of the best for 2014 and beyond.
- Anytime Fitness. Founded in 2001 with 2,425 current locations.
- Hampton Hotels. Founded in 1983 with 1,942 current locations.
- Dunkin’ Donuts. Founded in 1950 with 10,833 current locations.
- Subway. Founded in 1965 with 39,767 current locations.
- Jimmy John’s Gourmet Sandwiches. Founded in 1983 with 1,842 current locations.
- Supercuts. Founded in 1975 with 2,324 current locations.
- Pizza Hut. Founded in 1957 with 14,357 current locations.
- Denny’s. Founded in 1953 with 1,683 current locations.
- 7-Eleven. Founded in 1927 with 50,944 current locations.
- Servpro. Founded in 1967 with 1,614 current locations.
Although these franchises are among the best of 2014 and are sure to remain solid investments for the rest of the decade (and further into the future), not every opportunity is right for every investor.
As a potential franchisee, you should focus on finding the opportunity that best fits your skill set, location, interests, and budget. Answer the following questions:
- What industry are you most interested in joining?
- Which franchises within that industry are known to be among the best?
- Are the franchises you are interested in currently offering opportunities in your area?
- Do you have the initial investment and net worth required to get started?
If you are serious about investing in a franchise, one of the 10 opportunities above would be an excellent choice.