The top 10 business franchises are obviously very sought after businesses, they of course have a high earning potential but by the same token have a very high entry level fee or investment level. Thinking about the top ten franchises obviously the big ones come to mind at a million dollars plus entry level investment and often a potential franchisee would have to show available funds of probably a quarter or half a million to get that business up and running to a stage where it was making profit.
Of course the franchisor cannot take their royalty fees until there is a profit in the business. It is of course in their best interest to offer as much guidance and support as it takes to make that business one of the most successful franchises possible.
The financials of a franchise
The royalty fees are an ongoing fixture of the franchise agreement but it is in everybody’s best interest to keep that business in the top 10 franchise opportunities. The more the merrier! The more successful the franchise, the more likely the franchisor is going to have of selling more business franchises in the future. For these ongoing fees though, there is the benefit of ongoing support and upgrades and marketing campaigns and staff training and well established brand name. A franchisor also offers ongoing assistance to achieve goals and sales targets and income projections.
Going back to the entry level investment fee, the top ten best franchises may not be relevant though if we are looking at smaller part time franchises or work at home-based franchises. If a potential franchisee makes a list of their top ten franchises, it may be nowhere to be seen for example on the 2016 Franchise 500 list. Here will be seen anything from a $100k fitness franchise to a $10million mid-size hotel franchise. So the top 10 franchises to own are all relative to who is looking and what the criteria is for their idea of a successful franchise business.
It is all very well during your research to look for the top 10 franchise opportunities and get a feel for what is available. The most important criteria on your search are to find the franchise opportunities that fulfil your needs and best suit your requirements. How much are willing to invest, how many hours do you want to work?
Do you want to give your new business your heart and soul and put everything into it and have the franchisor come to your new premises and train a team of staff? Are you looking for recognition in the community with a big brand name or recognition in the community with a small community based service driving the aged or disabled to hospital appointments.
Beauty is in the eye of the beholder so they say and finding the right franchise business for you that sits on your list of ten top franchises is imperative to making a wise investment decision. It will take less than a minute to enter your details above and could save you hours of deliberation. Use the free service of Approved Franchises to compare approved UK franchise companies all in one place.