Opening a top franchise is an attractive opportunity for many potential business owners. A franchise offers a structured way to get into a business, along with a host of other benefits. These include national advertising campaigns, corporate support, and the brand image that goes with owning a franchise. Many people are asking two questions though. How to open a franchise, and what are the best franchises to start? In this article we answer the second question as we take a look at some of the most successful, most profitable franchises in America today.
Mathnasium provides customized math tutoring to students of all ages, from preschool up to the twelfth grade. What makes Mathnasium a great business idea is the relative lack of competition in this particular field. Until now, there have not been any other highly successful tutoring franchises in America. This field has nowhere to go but up either. With Americans trouble with math, and the increased burden placed on today’s kids, you’re sure to always have a steady stream of students coming to you for help.
The total investment is about $100,000 depending on where you open the center. This makes it one of the cheaper franchise opportunities on our list. But by no means does the cheap price reflect a lack of potential. In 2011, 2012, 2013, and 2015 Mathnasium has ranked on Entrepreneur.com’s list of fastest growing franchises, which means that it’s one of the best business ideas around.
Americans love chicken wings, and Wingstop serves them up conveniently and quickly. With more than 2 billion chicken wings served so far, they must be doing something right! Wingstop started franchising in 1997 and today there are over 480 restaurants open. Wingstop is a great franchise opportunity because so few restaurants fail. According to CNN Money, between 2005 and 2010, the SBA backed 88 Wingstop location loans, and of those, only two loans failed. That’s a far smaller percentage than for other franchises.
The downside is that Wingstop does require more capital than other restaurants. If you’re thinking about opening a franchise, you’ll need a net worth of $400,000, and at least $200,000 will need to be in cash.
What sets Sport Clips apart from the competition is the atmosphere that their locations create. Targeted at boys and men, all Sport Clips locations are designed with a sports theme in mind. The first store was opened in Austin in 1993 and since then has grown exponentially. Today, Sport Clips operates over 1,400 locations in cities across the US, making it a solid franchise opportunity for anyone who’s looking to invest in a growing market.
Sport Clips is a good franchise opportunity because of its unique domination of the market. Before Sport Clips, there was never a franchise that offered barber services aimed squarely at men. Between 2012 and 2015, Sport Clips has been above the #20 spot on Entrepreneur.com’s list of fastest growing franchises. For the first time in 2015, they ranked #127 on America’s global franchise list. Their start up costs range from $170,000 to $330,000, depending on the location and existing infrastructure.
The first thing you should know about Anytime fitness is that in 2015 it was ranked the #1 global franchise. Not to mention ranking #7 in 2014 and #10 in 2013. That makes anytime fitness one of the best franchise opportunities available. The initial investment can also be quite a bit less than others on our list. While some franchise owners pay more than $400,000 to open an Anytime fitness in a prime location, other owners pay as little as $63,000.
The appeal of Anytime fitness is that it’s open 24 hours a day and you can work out whenever is convenient. There is also the benefit of there being more than two thousand locations in North America alone. That means that if a person is travelling, they can go to a new club in a new city without having to worry about locating a new gym or skipping a workout.
It’s smart to open a franchise that has a global network like Anytime Fitness. In fact, opening a franchise is a smart move in general, especially when you choose to enter into a market that has nowhere to go but up. As Americans become more aware of their health, more people will pay for gym memberships and keep their memberships for longer. If you’re looking for one of the best franchise opportunities, now is definitely the time to open an Anytime fitness, and not a McDonald’s.