Franchising opportunities are some of the most efficient ways to start a new business and increase your revenue streams. The cost and effort associated with beginning a completely new concept from scratch, building a brand, and penetrating the market with a fresh idea or product can be significantly overwhelming in today’s marketplace. When you take advantage of a franchise opportunity, you can capitalize on the company’s pre-established brand awareness, marketing, and gain valuable support from the franchisor. Here, we will discuss some of the most well-known franchises in the market and which ones are the most profitable.
Fast Food
The business model for established fast-food brands has been tried and proven to be among the most effective models in the marketplace for several decades. And when you think about fast food, it is impossible to not think about McDonald’s. McDonald’s is an international fast-food chain, and currently has over 38,000 locations selling a combined average of 10 orders per second. With an initial investment requirement weighing in between $1 million to $2.2 million, and each franchise earning an average annual profit of $150,000, the McDonald’s franchise is an absolute powerhouse and currently ranks as one of the world’s largest and most profitable franchises. Other highly successful fast-food franchises offering a high return on investment include brands such as Taco Bell, Dunkin Donuts, and Popeyes.
Retail
Despite what you may have heard, brick-and-mortar stores are not dead. While e-commerce is an essential element for any retailer’s survival in the 21st century, a good, established store brand in the right location still proves to be one of the most profitable investment opportunities available. Ace Hardware is a retail franchise specializing in home improvement products. Ace Hardware currently ranks #6 on the Franchise 500 list as one of the most profitable franchises of 2021 with over 5,300 locations nationwide. You could also consider a Pearle Vision store. This well-known retailer has been around for over 60 years, and began franchising its brand in 1981. Now, with over 500 stores across the U.S., Pearle Vision stores generate an average of $1.2 million in sales revenue.
Education Franchise Opportunities
If you’re looking for the best franchises to buy in 2022 with an affordable cost to entry, education franchises are an excellent option positioned for continued growth and profitability. iCode School is an education franchise operating in the STEM education market, which is one of the fastest-growing sectors and is projected to grow significantly for the foreseeable future. iCode School also has dedicated marketing and internal teams that will support you as you are starting and running your business. If you are interested in learning more, visit our website and connect with an iCode representative to attend a discovery day call where you will learn more about how iCode operates.
