Looking over business opportunities available your likely to find yourself also evaluating the best small business franchise ideas to startas well. When I think “best franchises”, even in 2010, I think MacDonald’s, you know the restaurant franchise phenom?
I came across an interesting video on franchising and guess what, It talks about the Ray Kroc story and the MacDonald’s franchising idea. Franchises are an interesting an attractive business concept for many and there are valid reasons you may want to consider purchasing a franchise. As for the best franchise ideas to buy, you’ll need to do your due diligence. I have yet to own a franchise, though I’ve looked into a few.
Here is that Video on the history of Franchising:
I’ve found a couple reliable resources that list some of the top franchises that are currently offered on the business opportunity market today. Here is a list of some of the best small business franchise ideasto start in 2010 as per Wikipedia.
- 1. Subway (Sandwiches and Salads | Startup Costs$995,000-$1,842,700 (22000 partners worlwide in 2004).
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- 2 McDonald’s | Startup Costs $40,500- 775,300 in 2010, (30,300 partners in 2004)
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- 3.7-Eleven Inc. (Convenience Stores) |Startup Costs $3,316,000-239,000 in 2010,(28,200 partners in 2004)
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- 4.’Hampton Inns & Suites (Midprice Hotels) |Startup Costs $111,000-239,000 in 2010
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- 5.Supercuts (Hair Salons) | Startup Costs $26,427-$84,09,000 in 2010
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- 6.H.R.Block (Tax Preparation and e-Filing)| “Startup Costs $537,750-$1,765,000 (11,200 partners in 2004)
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- 7.Dunkin Donuts’ | Startup Costs $1,400-35,050 in 2010
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- 8.Jani-King (Commercial Cleaning | Startup Costs $102,250-161,500, (11,000 partners worldwide in 2004)
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- 9.Servo-Pro (Insurance and Disaster Restoration and Cleaning) | Startup Costs $1,835,823-$7,615,065 in 2010
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- 10.MiniMarkets (Convenience Store and Gas Station)
- According to the International Franchise Associationapproximately 4% of all businesses in the United States franchisee-worked.
Wow, huh? And here is a little history on Franchising, It’s a bit older than I ever thought…
Isaac Singer, in the 1850s, who made improvements to an existing model of a sewing machine, was among the first franchising efforts in the United States, followed later by Coca-Cola, Western Union, etc[9] and agreements between automobile manufacturers and dealers. [10]
Modern franchising came to prominence with the rise of franchise-based food service establishments. In 1932, Howard Deering Johnson established the first modern restaurant franchise based on his successful Quincy, Massachusetts Howard Johnson restaurant founded in the late 1920s.[11][12]The idea was to let independent operators use the same name, food, supplies, logo and even building design in exchange for a fee. (Wikipedia)
Home Based Franchise Ideas
If you have ever owned, bought or sold a franchise and can offer some experiential knowledge we would really appreciate it. In particular I’d be interested in hearing about home based franchise concepts. I’ve applied some franchising ideas, actually had a long term plan to franchise a business idea I came up with in my early twenties. I’m assuming there are home based consulting franchise ideas and would think the costs would be much lower to start these types of businesses. Home business franchise ideas are quickly gaining popularity and have proven to offer a higher success rate.
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An old advertisement of McDonalds. Great opportunity that gives every people a to success in business.
immanuel´s last blog ..Rice Meals
It’s good to have a franchise but im still young to own a franchise if i have my savings i would to franchise McDonald’s because i love that food chain and their services.
immanuel´s last blog ..Rice Meals
Thanks RMM I appreciat you comments. I don’t own any franchise right now but there are a few I’d love to own. They are a pricey business to get into most times. Start up costs of over a quater million 250k is a lot of money and has most people dumping their life savings into the business. That’s a lot of down side for me.
Thanks
Franchising has been good to my brother. He has successfully taken on 3 different franchises and all are doing well. I think that it needs to be researched a bit and make sure it is profitable and then go for it.
I enjoyed this post so much I mentioned it in my blog this morning as One of the Best Posts I’ve Read All Week! Check it out here http://tiny.cc/XO1BI
Cheers!
Natalia´s last blog ..Best Blog Posts I’ve Read This Week 21st – 27th Feb