The Best Franchise Businesses of 2021

0
0
asked about 4 days ago

Despite a tumultuous year, franchising continues to show stability and growth. We share a few of
the best franchise businesses of 2021, and some insights into what 2022 holds for franchising.

A franchise is a business model where a business owner, or franchisee, pays to use a company’s
brand and products to run their own business. The franchisor is head of the overall company’s
branding, systems and development, and the franchisee runs their particular franchise unit within
set boundaries and guidelines set out by the franchisor in the Franchise Disclosure Document (FDD).

Owning a franchise business has many advantages. Being a franchisor is like being in business for
yourself, without being in business by yourself.

While there are literally thousands of franchises within the United States, we have chosen to share
the top 10 rankings for 2021 as set out by Entrepreneur Magazine.

The Top Franchise Rankings

Each year franchises across the United States are analyzed by a panel of experts and ranked in order.
Each franchise is analyzed according to a number of categories including costs and fees, size and
growth, brand strength, support as well as financial strength and stability.

After considering a huge number of franchises, it is easy to see that fast food dominates the top 10
rankings. Topping the list is Taco Bell, closely followed by Dunkin’ Donuts, each with an initial
investment of between approximately $500,000 and $2 million. Fourth, fifth and seventh spots are
taken up by Popeyes Louisiana Kitchen, Culver’s Frozen Custard and Jersey Mike’s Subs respectively.

The UPS Store was ranked in third place with an initial investment of less than $500,000, while
Kumon Tutoring rose to sixth place with an attractively low initial investment of less than $150,000.

Planet Fitness, 7-Eleven and Servpro rounded out the top 10 rankings in eighth, ninth and tenth
place.

What to Look for in a Franchise

According to Derek Cafferata, CEO and President of franchise experts All State Franchise Finders,
finding the right franchise to match is the key to success.

“There’s a franchise for almost every possible industry you can think of,” says Derek. “It’s important
to find a franchise that fits your experience, skill set and interests.

Some franchisors require you to have previous experience in the particular industry, but this isn’t
always the case. Management experience and skills are just as important, if not more, when it comes
to running a business. It pays to think about what would drive you and where you can see yourself
fitting in.

Understanding your financial position and net worth is vital for choosing the right franchise to invest
in. According to Derek, this is the first step you should take when considering any franchise
purchase. Up front costs range significantly, as do ongoing royalty fees and associated franchise
costs.

What’s Hot in 2022

The Covid-19 pandemic that has swept the globe for the past 18 months has ruffled the feathers of
the business world, but not destroyed it at all. Franchising continues to show stability in most
industries, with some showing strong growth now and into the future.

According to Derek Cafferata, the industries to look out for in 2022, thanks to the pandemic, include
commercial cleaning services, delivery services and health care services. All these industries have
thrived throughout the past 18 months as our communities have moved heavily into online
shopping, home delivery and the need for increased health care.

For commercial cleaning franchises, consider Jan-Pro or Coverall. The UPS Store and Amazon
Delivery Service are some great delivery service options and American Family Care Centers and
GoTelecare are two popular health care franchise investment opportunities.

ALLSTATEFF.COM

All State Franchise Finders, based in Fort Worth, TX, are the franchising experts assisting potential
franchisees on the path through franchise selection, financing and setup. For more information,
contact Derek Cafferata and his team by calling 1-800-544-2161 or visiting allstateff.com today.

ALLSTATEFF.COM are your franchise experts.