Which Franchise Should I Buy? Profitable Options for Anyone.
Little known but profitable franchise options exist for most buyers including blue collar workers, executives, semi passive, and more. Can you guess which industry has a 53 million dollar location with a $150k investment?
So lets say you are a blue collar worker, but well spoken, articulate, comfortable managing employees and you want to start your own business. There are many service type franchises that are a low investment and some have amazing returns. Many white collar executives also start service based businesses as most of these franchises seek executive, business building skills. In most cases you are not swinging the paintbrush or mop, you are running a business.
Some examples, plumbing, insulation, and disaster recovery. There is a franchise in this space with an investment of around $100k, that has a location that does 1.5 million a year in NET profit.
Flooring is another thriving industry, investment under $100k, financing is available for most franchises, and the average in one system, not their top producer, their average is $212k in NET profit, most owners see ROI in 90 days. Service businesses like this are low overhead, and in most cases you do not need the technical experience as you are are hiring and managing crews of employees or contractors to do the work. These types of businesses, at least initially, are not ideal for passive ownership, most, but not all, want a hands-on owner. We’ll look at passive options in a moment.
Lets say you are a corporate sales executive who wants to start a franchise. Again, there are dozens of options including some service based as we noted above, that have sales functions as their primary driver. Owners might go into customers homes and give estimates in industries like construction or residential cleaning, which is a type of sales. Good cleaning franchises can easily average over a million a year, some much more. If you prefer to do pure sales a consulting type franchise is very low start-up, around $60k, and some owners do over a million dollars a year in revenue. Your overhead is basically your phone and your vehicle, so most earnings are profit. A Master Franchise is also a great option for sales pros, as you are actually selling unit franchises. One cleaning master franchise has top owners at almost 7 million dollars a year. Many multi-millionaires today got started by buying master franchise rights early on to an emerging brand that became very successful.
Another thriving industry right now is caring for seniors. Again, the owner doesnt need nursing or caregiving experience as they will be hiring those roles, but you should have executive or relationship building experience. Choosing a Senior care franchise can be a bit complicated as you have medical and non medical care, placement revenue, national accounts, longer term services, and each one may or may not be the best fit for your local market. Give us a call we can help you through that. Most senior caregiving brands can take a bit longer to reach ROI, so be prepared for that, but most generate over a million, and the most profitable franchise I have ever seen was in senior care with an incredible 53 million dollars generated last year. Investment is around $150k.
If you are someone who is not quite ready to leave your job, there are semi-passive franchises that will permit you to keep your job, and you can dedicate anywhere from 5-20 hours a week on the business. Certain industries are ideal for semi-passive and thousands of people ranging from first responders, executives, blue collar and teachers, started with one location, eventually opened more, and eventually spring boarded away from their job. Good options for semi-passive, some beauty concepts, including hair salons, investment from around $200k. There are also therapy or massage type franchises that can be remotely operated. Medical spas, if you have a higher budget $400k+and are in the right demographic, can be absentee owner run, and margins are very good. Fitness concepts, post pandemic are making a huge resurgence, boutique clubs that offer niche services like Yoga or martial arts have lower overhead and can be profitable, again depending on your market. Investment around $200k and net roi for some concepts around $200k+ annually.
Automotive can be a good niche, oil change shops can be profitable, and one aftermarket parts franchise has top 50% of their operators over $400k net revenue with an investment around $300k.
Dont trust franchise top lists! https://youtu.be/4iBOusezuLw
Don’t trust Veteran franchise top lists! https://youtu.be/crteEW9T6SA
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