Top 10 Franchises for 2015
People are always asking us for recommendations about which franchises are the best for them to open. Every potential franchisee is different, and the franchise that’s right for you is probably not the franchise that’s right for the next person. However, there are a few franchises that we’ve got our eyes on for 2015 as good opportunities for people thinking about becoming entrepreneurs. Here’s a list of 10 franchises bound to be popular in 2015:
1. Chem-Dry
The world’s largest carpet cleaning franchise! According to ChemDry the average annual revenue per franchise owner is $263,779. That’s a heck of a lot of revenue for carpet cleaning. People are always going to look to get their carpet cleaned, so succeeding as franchisee should not depend on the fluctuations in the market.
2. Doc Popcorn
A new twist on a classic food. Popcorn is a very popular snack that isn’t just confined to movie theaters anymore. Doc Popcorn has three different types of stores you can open including a store, a kiosk, or simply a cart. If you have a high traffic venue in mind where people need snacks, you gotta think about opening one of these franchises.
3. Hobby Quest
After school programs for children are very important, as it is another opportunity to further a child’s education. Hobby Quest is a franchise that meets that challenge by providing children with educational activities that are interesting to them but also are fun! Some example include aviation, magic, fashion, and photography!
4. Dickey's Barbeque
Everyone knows what a BBQ joint is, but what about a BBQ joint with 5 different revenue streams? Dickey’s franchisees can make money on dine-in, retail, take-out, catering, and holiday meals. Wow! As a restaurateur, you’re always looking for new ways to increase revenue and Dickey’s provides that opportunity to you.
5. Marble Slab Creamery
While fro-yo may be all the talk these days, don’t forget that ice cream is just as popular. Marble Slab is an industry leader in ice cream as well as quick service restaurants. With a $30,000 franchise fee, getting into the business shouldn’t be cost-prohibitive.
6. UFC Gym
What happens when a hot brand gets into the fitness game, UFC Gym. This franchise allows its franchisees to leverage one of the most valuable brands in MMA to differentiate from all the other gyms out there. As UFC becomes more popular, these gyms are bound to get more popular as well.
7. Bricks 4 Kidz
Kids love building things. And Bricks for Kidz franchisees provide children’s programming by leveraging the power of LEGO bricks. It’s so popular that it was even ranked #1 Children’s Enrichment Franchise in Entrepreneur Magazine’s January 2014 edition.
8. Five Star Painting
Everyone needs painters, so why not make money fulfilling that need. Five Star Painting is an industry leader in painting franchising and gives its franchisees the support they need to succeed.
9. Mathnasium
The third of our children’s franchises to keep an eye on in 2015, Mathnasium enriches children’s lives by providing after school tutoring in math. If you’re looking for a way to both educate and make money, Mathnasium is an excellent choice for a franchise.
10. Cruise Planners – American Express Travel
Becoming a Cruise Planners franchisee is a great move for someone looking to marry the flexibility of being your own boss and the promise of a nice financial return. Helping people plan travel is a lucrative business, and you could be a part of it.
You can learn more about the franchises above by clicking their name, or if you want help learning which franchises fit you best, click here to take our franchise matching quiz.
What Experience Do I Need To Open A Franchise?
A very common question with no easy answer. The kind and amount of experience you need depends on the franchise you’re looking to buy into, of course. However, here are some common themes to help guide your search.
The Kardashians: Marketing Lessons for Every Business Owner
Kardashian matriarch Kris Jenner has been criticized for “pimping out” her children, but the mother’s shrewd dealings may be a smart move. Of the 10% manager fee Kris takes from her family members’ earnings, daughter Kourtney says, “We’d have to give it to someone else; I’d rather keep it in the family,” and Kim states, “She has this vision for us, and she makes it happen.” In fact, it has been reported that Kris “makes it happen” to the tune of $65 million a year. What can business owners learn from this? When the goal is to build wealth, keep it in the family – all of it.
Franchise Hurdles
The first point I made ties into this, but you need to make sure you’ve done your research before you go ahead and sign a franchising agreement. And that doesn’t just mean from a financial perspective. There are so many other aspects in running a franchise that you need to understand before you get started. Most of this information can be found in the Franchise Disclosure Documents. Some of the most important things you should take a look at would be any legal issues the franchisor might have and the churn rate of franchises. Both of those could potentially be pretty significant red flags that might make you want to reconsider whether or not you want to open that franchise.
