Every major franchise be it Burger King or Taco Bell-started with just one store. But if you buy into an established brand after it's become a household name, the costs can be huge. In general, it can take six to 10 years to get your money back. That's why, no matter what concept you choose to franchise, the best way to make money is to find an emerging brand: a franchise business ready to boom. With an emerging brand, you can see your initial investment returned in just one to three years, and savvy franchisees can then reinvest that freed cash into opening more locations and building a much bigger, much more valuable business.
Although an emerging brand comes with a certain amount of risk, the rewards can far outweigh it. Emerging brands are less expensive to join. Plus, all the prime territories haven't already been taken, opening costs are lower, and better real estate can often be secured. But most important of all, new franchise concepts give franchisees a longer runway to make money.
This story is from the Startups - Spring 2023 edition of Entrepreneur US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the Startups - Spring 2023 edition of Entrepreneur US.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Why Small Businesses Can't Afford to Grow
Big companies take a long time to pay their suppliers. Sometimes, so long that the supplier goes out of business. Two entrepreneurs wanted to find out why this system is so broken-and wound up creating a solution.
MY FAVORITE CUSTOMER
For small, independent businesses, loyal patrons are benefactors, protectors, muses, and mascots. They make sure the show goes on. Here, three business owners celebrate an irreplaceable member of their community.
Do You Say 'Yes' Enough?
We don't give ourselves enough credit for trying. So let's start doing it right now.
He Does $10 Million-Plus in Sales
When Jeffrey Bell gave up horse training to buy a Floor Coverings International franchise, he wanted to get out ahead of his new pack. To do that, he had to learn to delegate.
How This Business Rookie Became a Top Seller
After competing in two Olympics, Cammile Adams dove headfirst into her second career - and became SafeSplash Swim School's #1 franchisee. Here's how.
How to Pick the Perfect Franchise For You
There are a lot of great brands out there. But that doesn't mean they're all a great fit.
Serving the Underserved
When Dennis Johnson opened a Pizza Ranch in Minnesota, he hoped to serve the nearby Native American communities in more ways than one.
When Life Is Preparation
Vanesa Ellis was no expert on mosquitoes or lawn care. But as it turns out, something else made her the perfect fit for two home-care franchise brands.
Changing Careers? Consider Franchising.
Here are five reasons why franchise ownership could be the right fit for you.
WRANGLING THE MANY-HEADED MONSTER
For mom-and-pop business owners, just as inflation calms in one area of operations, it rears its head somewhere else. The best way to stay on top of it, experts say, is to stay flexible.