4 Best Franchises to Own in 2023 (USA)

Business people discuss the terms of a franchise agreement around a conference table

Looking for the best franchises to own in 2023? In this article, we’ll look at several unique franchise opportunities and share thoughts on which ones are most worthy of your investment.

For those pressed for time, here’s a bird’s-eye-view of our top picks for best franchises to own in 2023 in the United States.

Best Restaurant Franchise to Own in 2023

Best Restaurant Franchise to Own in 2023

Up first on our list of best franchises to own in 2023 is our pick for the best restaurant franchise. 

When it comes to restaurants, there are tons of great options, but none were as sweet for us as Dunkin’.

Dunkin’ is an established brand with a lengthy history dating back 72 years to 1950. 

The company actually started two years prior in 1948 under the name “Open Kettle” and was later rebranded as “Dunkin’ Donuts.”

The first Dunkin’ Donuts franchise launched in 1955 and within 10 years, the company had grown to over 100 locations.

In 2018, Dunkin’ Donuts dropped the word “Donuts” from its name in order to refocus the brand, expand its product lines, and open up new sales opportunities.

So what do we like about Dunkin’?

01. The Initial Investment

When you invest in a Dunkin’ franchise, you can expect to put in less than $500k depending on the location and other factors. This makes it a more affordable option compared to many name-brand restaurant franchises.

02. Brand Recognition

Whether you call them Dunkin’ or Dunkin’ Donuts, the brand has 72 years of recognition behind it. Virtually everyone knows Dunkin’ and its products which means you don’t have to spend boatloads educating customers about what kind of food products you offer.

03. Product Simplicity

Ask anyone what Dunkin’ is and they’ll tell you donuts, followed closely by coffee. Dunkin’ may be expanding its product lines, but things don’t get much simpler than coffee and donuts. 

In short, you’ve got a proven restaurant model with extremely strong brand authority and raving fans all over the world.

Plus, the initial investment is much less than other franchises like Mcdonald’s where you need to roll out 1M to 2M (or more) just to get started.

With Dunkin’, you get a powerful brand at a reasonable price and you can expect a strong sales volume with almost any location.

Best Personal Services Franchise in 2023

Best Personal Services Franchise in 2023

Personal services isn’t the first industry people think about when it comes to franchises, but there are great opportunities in the space.

As far as best franchises to own in 2023 is concerned, we’ve dialed in on Merry Maids home cleaning services

Merry Maids started as a small cleaning business in 1979 in Omaha, Nebraska. In 1988, ServiceMaster purchased Merry Maids for its collection of home services businesses.

Today, Merry Maids boasts over 485 locations within the United States and has strong brand recognition across the country. 

What do we like best about Merry Maids?

01. Low Investment Price

To get started with a Merry Maids franchise, you can expect to invest $90k to $130k. That places the initial expense much lower than a restaurant franchise. This is partially due to the nature of personal services being less popular in comparison to other franchise models.

02. High Gross Sales

According to Merry Maids’ franchising site, top earners see gross earnings of over $2.8 million annually. That’s a pretty return on investment considering the low entry price.

03. Awards & Recognition

Merry Maids has won a number of awards. Not only are they ranked in the Franchise 500, but they’re ranked as the #1 Residential Cleaning Service by Entrepreneur magazine. They also recently won the Women’s Choice Award.

Merry Maids is an excellent opportunity for those looking to break into the service industry. 

They offer a low entry investment, an established model, brand recognition, ongoing training and support, and proven marketing methods.

Best Fitness Franchise in 2023

Best Fitness Franchise in 2023

Continuing forward with our list of best franchises to own in 2023, we come to the fitness space. 

Fitness is booming, and fitness franchises are on the rise. This year, there were several great options to choose from, but ultimately, one came out on top.

For the best fitness franchise, we chose Orangetheory. Orangetheory offers total-body group workouts that combine science, coaching, and technology.

Orangetheory opened its first location in 2010. They’re one of the youngest franchises on our list, but don’t discount them. Their programs are incredibly popular, and they have over 1,500 locations around the world.

What do we like best about Orangetheory?

01. Unique Fitness Model

Orangetheory isn’t a traditional gym where you show up and work out alone. It also isn’t hardcore HIIT training like CrossFit. Instead, Orangetheory brings groups of people together for heart-rate-based interval training.

02. Middle-of-the-Road Investment

When it comes to fitness franchises, the options are all over the place. On the high-end, you’re looking at millions to get started. A few smaller franchises have investments below $200,000 but those aren’t as reputable. Then you’ve got Orangetheory right in the middle with an initial investment of around $500k.

03. Strong Branding and Not Oversaturated

Orangetheory has recognizable branding, but it isn’t Anytime Fitness or Planet Fitness. What we mean is, many people haven’t heard of Orangetheory, which means the opportunity to build a profitable location is ripe for the picking.

If you’re interested in a fitness franchise, you can’t go wrong with Orangetheory. That said, they’re pretty selective on who they award franchises to.

Best Education Franchise in 2023

Best Education Franchise in 2023

The final franchise type on our list of best franchises to own in 2023 is education. 

The education sector is constantly evolving, so the best education franchise has to be highly adaptable.

That’s why our choice for the best education franchise is iCode

iCode schools focus on science, technology, engineering, and mathematics (STEM) learning topics.

These are high-interest topics among parents who want their kids to do well in life and who are prepared to pay for additional training to help them get ahead in our tech-driven world. 

iCode’s core focus is on coding (computer programming) and robotics, and they teach children starting around six years of age all the way through their teens. 

What we like best about iCode:

01. Future Focused

STEM is a top priority for employers worldwide. The demand for STEM-trained workers has grown exponentially and shows no sign of slowing. iCode trains the workforce of tomorrow and parents in the know are taking advantage. iCode’s curriculum positions children to hit the ground running with the best careers and the highest salaries once they’re ready for employment. As the workforce continues to shift, parental awareness will only increase creating more demand.

02. Multiple Revenue Streams

One of the most essential features of iCode franchise is that it comes with nine unique revenue streams built into the model. This is accomplished through various on-campus classes and camps, virtual classes, partnership programs, clubs, and more.

03. Reasonable Investment Price

The cost to start up an iCode franchise is more affordable than many modern franchise opportunities. It isn’t the lowest on the list, but it might present the most lucrative opportunity since there is no cap on what you can earn. To get started with an iCode franchise, you can expect to invest around $200k to $400k depending on the specifics of your location.

04. Ongoing Training & Support

iCode helps franchisees get up and running with high-value training in marketing, business, and other important areas. They also have support systems to ensure your questions are always answered quickly.

If your idea of a great franchise opportunity is one with low startup costs, and a highly adaptive business model that positions you for rapid growth, then an iCode franchise is one of the best options on our list. 

Check out iCode franchise here to learn more today.

Recommended Blogs

In a world where financial stability is becoming increasingly paramount, side hustles are no longer a novel concept but rather a strategic component of many individuals' income streams. But what makes a good side hustle and how does it fit into a broader financial plan? One interesting thought, have you ever considered owning a franchise as a viable side hustle? This prospect may seem daunting at first, but with the right franchise and the flexibility to be as involved as you want, it could potentially become a lucrative addition to your income. Let's take a look at the potential of franchise ownership as a side hustle, focusing on the thriving sector of STEM education franchises, and examine some key insights to help you make an informed decision. Understanding the Concept of a Side Hustle A side hustle is any type of employment undertaken in addition to one's full-time job. It's essentially an entrepreneurial venture that allows you to earn extra income while retaining the security of your primary job. Side hustles have been growing in popularity, particularly due to the changing dynamics of work brought about by digital technologies. In the gig economy, where project-based or temporary jobs are common,…
The thought of becoming a business owner can be both thrilling and daunting! Many people want to start their own business but are confused about how to get started. This article will help you understand what it means to own a franchise, decide if becoming a franchisee is a good fit for your objectives and personality, lead you through the entire process, and reveal the best franchises to buy in 2023. What Is a Franchise? A franchise is a business wherein the owner of a brand and business model grants you the rights to use these assets (together with all associated trademarks, goods, systems, and so on). The franchise owner is the franchisor, and you are the franchisee. Getting started with a franchise is a much easier task than starting something from scratch which is one of the biggest reasons many people opt for franchising over starting something of their own. A Step-By-Step Process to Buy a Franchise Understanding what’s involved with starting a franchise can alleviate a lot of the stress and help you discover the best franchises to buy in 2023. Step 1: Know Your Why Owning any business can be an emotionally, physically, and financially exhausting experience.…
Franchise Buying 101 Want to start a business but not sure where to start? Have you considered buying franchise businesses, but you’re not exactly sure how it works? First things first: How do franchises work? A franchise is a proven business model where you leverage the power of an established system and brand to help you turn a profit without having to figure everything out on your own. In this article, we’ll take you through the process of buying a franchise company, explore the costs involved, and answer questions you might have before jumping in. When to Buy a Franchise Before you make a decision, it helps to consider when you should buy into a franchise opportunity. When is the best time for you? To make that decision, you’ll want to consider your circumstances, financial situation, and business goals. To start, ask yourself the following: Do I have enough money saved for startup costs and ongoing expenses? Do I have access to financing? Do the market conditions in my local area make sense for this right now? Is this business model feasible within my current lifestyle and goals? Will my past experiences support my success in this venture? Does the…

Request Franchise Information

"*" indicates required fields

Do You Meet the Following Financial Requirements?
$100K Minimum Cash Liquidity?*
$500K Minimum Net Worth?*

Please review the estimated required initial investment here in preparation for your call. 

Hidden
Hidden
Hidden