Which Franchises Make the Most Money?
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- Опубликовано: 2 июл 2024
- Why do people buy franchises that don't make much money? Because they simply didn't know any better! There are considerable revenue variances within franchises systems, and a bad choice can result in millions of dollars lost over the life of your franchise.
Almost every one of us here at Franchise City group is a franchise owner. The team includes franchise founders who have built a hundred million dollar a year companies, multi unit franchise owners, and franchise lawyers. These are leading franchise experts who have access to all the data, know all of the franchises and how much money they make. But guess what? Not a single one of us owns the same franchise! We all chose to buy different franchises. So let’s dispel a myth that can be very costly if you don’t understand it. There is no universal best franchise, or most profitable franchise that works in every environment. If there was a single best option, we would all own it.
The most profitable franchise is the one that is best suited to your skills, your operational preferences, your exit strategy, and best suits your local market demand and demographics. A most basic example is a very profitable frozen yogurt franchise is great in Los Angeles, a remote town in Alaska not so much.
Every franchise also has different skill requirements. Some need advanced hiring and management skills. Some need exceptional B2B sales skills, some need a higher technical understanding. So if you put someone in a profitable franchise, but their city doesn't have a demand for the service and their skills are not a good fit, they will not do well.
If you are someone who is good at sales, you have an executive background, your a business builder there are about 25 really good options. At the lower end of the investment range is a consulting type business. For about a $25,000 investment there are businesses where owners can build a 6 or even 7 figure income.
Technical consulting franchises, investment about $60,000, and their top 25% of franchisees make over $600,000, the average office open one year or more earns over $200,000. Again, it has to be the right person with executive experience and B2B skills or you wont make any money. Now to put that in context an average Subway location does about $420,000 a year and has expenses like rent, employee costs, food costs, insurance, while the consulting franchises have almost no overhead, you work from home. So if you have the skills, the market and a budget under $100k consulting type franchises are likely the most profitable option BUT, if you are looking for passive income, they are not a good choice as you have to work really hard to make the business work.
Senior Care. Very hot market right now and we have seen single senior territories doing 30 million dollars a year. Some brands average over 1.5 million dollars a year. Again, you need to be an active owner and wear multiple hats to make this business work. You need to be a good manager, as you are hiring, training and retaining caregivers. You need to be good at local networking, to generate relationships with care homes and referral sources. Yes, senior care is very profitable, but it isnt like a burger franchise where people just walk in and buy a burger. If the owner is not well suited you wont be very profitable. Investment for a senior care franchise about $120,000-$200,000
Cleaning. Cleaning isnt sexy, its not something most people think about, but its a needed service and can be very profitable. Several cleaning franchises have average revenues over 1 million dollars a year. Cleaning master franchises, which most people dont know about, which is where you obtain cleaning contracts, then sell the contracts to franchisees for amounts ranging from $1,000 to $10,000. These master franchises can be very profitable. Average of 2.4 million in some systems. This is a white collar business in a blue collar industry as you are selling business opportunities to people and they handle all the cleaning. Total investment just over $200k for a master and $70,000 for a standard cleaning franchise.
Food franchises. We've covered this before on the channel, there are not that many profitable food franchises out there. Ill place that link above. But there are some that for a reasonable investment can generate million dollar revenues. With food franchises your location and demographic will have more relevance than anything else. So there is no such thing as the most profitable as your location, not the brand name determines how profitable you will be. As far as top earning locations Chick-fil-A has the highest grossing single locations at over 4 million, but their franchise model is quite different from a traditional franchise and you don't own the business.
Need help finding the most profitable franchise? www.franchise.city/our-services
#franchisecity #profitablefranchises
Thank you for this wonderful info. I’m unemployed right now. Trying to find a franchise that might suit me. Lost my job before the pandemic surviving thyroid cancer but still dreaming of owning a Franchise.
Thanks for watching and we are sending positive thoughts! If we can be of any assistance let us know.
Hi Lesette, id love to be updated on how your search is going.
@@FranchiseCityOnline m
@@FranchiseCityOnline send money 😏
Do u have a business partner that helps a lot especially someone who already owns a small business
I agree with your comments about finding a compatible franchise - valuable info!
By far the best Franchise related channel on RUclips!
Thank you!
Love your content!
Thanks Robert..really enjoyed and looking forward to your weekly show.
Thanks!
You consistently provide excellent information and superb advice. And you do so in a clear and engaging way . I am well past the age where I would do a franchise 😎🌴 I watch you just to keep my mind sharp and learn because once you stop learning you are headed to mental deterioration. Plus your videos are so well produced !!
Thank you for the kind words and continued support!
Great Content
Rick Ross (Artist) inspired me to look into franchises. He owns over 75 Wing Stops.
Great to hear! Many celebs are franchise owners ruclips.net/video/IcHEMtAXaTo/видео.html Thanks for visiting :-)
He raking in a lot
Great Information - not sure how I stumbled on to your videos But so glad I did - I gave you a Like, and I subscribed too. Thanks!!
Thank you!
You give such great advice of wanting doing or starting a franchise business you rock !
Thanks for watching!
I have researched a bit and seen truly unique range. Some franchises have more hands on some hands off, some good roi some worse, some are profitable from single unit pov some are profitable from Multi-unit ownership pov
Actual examples start at 2:35. Important information for investors starts at 0:00 :-) Need help finding the best franchise for your situation? Call Franchise City brokers: www.franchise.city/our-services
Could you do Absentee owned Franchises one day thanks...
@@msway836 Will do!
Great content. I'm considering a franchise business as I like that the systems are already set up.
Thank you for watching!
Very important information. Thank you for sharing
Thanks Hassan!
Great information
Thanks for watching!
Great content
Thanks for watching!
As always your videos of great. I have noticed that you seldomly do videos on passive income, is that because even if we do have enough money to invest, most profitable business are going to take a lot of work upfront?
I ask because I'm about to start med school, so I will not have the time to be very hands on with any side business for a few years.
Thank you. And mostly yes. There are very few truly 100% "passive" businesses from a start-up perspective. Several franchises suggest they are passive, but if your manager quits, or if anything happens the manager can't handle, the business becomes hands on rather quickly. There are some options better than others, but realistically an owner should be prepared to put in work. The exception is the purchase of multi units where a director is installed to take care of everything. These are typically investor groups/celebrities etc. The capitalization has to be there to start. Purchasing an already operating franchise with manager in place can be a safer option, but still not foolproof. Good topic for future vid. thanks!
Can you do one on the truck route businesses such as Frito-Lay by PepsiCo but they're actually like representative of the company they drive a company truck that they have to buy and pay for and they call a new one cost $20,000 and up if you don't pay the $20,000 and up you get the 11,000 and down with no back office support or technical support and no backup is the engine goes down
Ill take a look! If you need help finding a franchise you can always contact Franchise City directly: www.franchise.city/our-services
Thank you.
Thank you for watching!
Please guide me to buy profitable Franchise in Dallas, Tx. I am actively looking and ready to jump in
I am in the restaurant industry and all I can say is this guy knows what he is talking about. Ice cream store revenue is not high especially fluctuated due to weather and season. Subway is goin down (my cousin owns it).
Thanks for the support!
Subway I’m guessing because there are so many other better sandwich options - like Jimmy John’s, and Pot Belly - right across the street from our Subway (and Chipotle) right next to it - not sure how they survive!
Which do you recommend
@@twincherry4958 I recommend don’t do restaurant right now. High food cost and hard to find labor.
@@allmosts123 how about convenience stor...I'd not consider a restaurant
I would love to see you do a review on the Bimbo Bakery company
I know you said food franchises arent as profitable as people think, but has there ever been a situation where someone's food franchise was very profitable because they brought the franchise into a city that didn't have that particular franchise?
Absolutely! There are thousands of very profitable food franchises. We're speaking in generalities and averages. There are some excellent food franchises, that in some cases can be the best choice within a given territory. Thx for the question.
Which is the most profitable Senior Care franchise and which territory?
when you speak of senior care centers are you referring to assisted living centers or assisted facilities at home by doing a conversion from home to assisted facility home?
Most franchise models are in-home caregiving, no brick and mortar. There are a few B&M, but we didnt use the figures of those. Thx for the question.
The real question is "Which franchises make the most money per hour worked?"
That’s a “worker bee” mindset .no offense. An “investors” mindset figures out ways their money can make more money …. Just food for thought
Hi, I’m a highly skilled sales person. I am interested in getting info on the 1st option of consulting. How do I contact you?
www.franchise.city and choose the contact page. Subject line: consulting franchise. Thanks for visiting.
I just sent a message im curious to know something about these two industries i am looking at obtaining (one or the other) hope you guys can help.
I'm only 13 and watching thoose so I can learn alot and have alot of franchises so I can own buggatis
Thanks for the video. How can I recieve assistance?
Thanks for watching! If you are in the USA you can learn more and request to speak with a consultant here: www.franchise.city/our-services
Any comments on Outdoor Lightning Perspective franchise offer?
Impossible to make any recommendations without knowing more. Its free to speak with a broker just call us! Once we know your goals/budget/skills/market we can show you with multiple options: www.franchise.city/our-services Thanks for the question!
how much does it takes for you to help finding the suitable franchise for an individual i just won a lawsuit & need help lol & was told i wouldn’t even have to use outright cash
Sorry, missed this comment! Our service is free for buyers - same as working with a Real Estate agent, you can learn more here: www.franchise.city/our-services Thanks for watching!
What about a Nora Mental Health franchise? Any videos on that one
No, however you can call us anytime to get custom reports and assistance (free) franchise.city/our-services Thank you for watching.
@@FranchiseCityOnline done. Just sent a message through the link
Question Do you know anything about owning a TGI FRIDAYS
Investment $2,596,000 to $3,835,000. They do not include financial data in their FDD, which is a bit of a red flag. We can provide complete comparative reports on any franchise and offer alternatives: www.franchise.city/our-services Thanks for the question.
Which franchise is highly profitable in resort towns? For example Barcelona,Spain.
Sorry, not familiar with economies outside of USA / Canada.
You don’t speak on the initial investment, anyone who doesn’t have 1million in assets doesn’t mean they wouldn’t be super successful.
Our average investor has under $100k available, and yes, many are successful. Not sure what you mean about needing 1m? And initial investment amounts are noted in the video. Thanks for watching.
but i dont want one franchise, i want multiple franchises (like 100 of em) so i can go sail in a catamaran while making millions
Food Trucks
Do you only specialise in franchises in the US, can you do a video on the UK please. I have £200k to invest. Could push it to 400k if I pull out money from my other business.
Buy yourself some stocks and shares, get mining, renewabkes, oil, marijuana, infrastructure, restuarants, agriculture etc
Think real estate, it will be yours, and you have no one to report to, with that kind of money start with one property at a time and you can eventually build your empire as big as you want. Watch the RUclips channel ( his and her money) it's a wealth of information, I learn so much about building wealth on real estate on that channel. Doesn't matter if you are from England I assume. I am trying to save 200k by 2021. If Biden wins America will definitely go into recession, so I can invest in real estate. My brother did this with the recession during Obama,
He obtained 10 properties, all cash. He don't have to work, but chose to so he can obtain more properties.
Unfortunately our expertise is limited to the Canadian and US markets. The UK economy and market demand is quite a bit different to here, and brands that excel here may not be applicable over there. Thanks for the question.
Hi, would you be interested in partnership?
Staffing franchise? Which one?
After earning a BA in Marking with a Psychology minor- My Advice: A person assumes just because they can cut hair good, then can own a salon. Or they can make a killer sammich, they can make it big with a Subway. Or vice versa. Not true. This is 2 very different skill sets. You can be a good business owner, yet know nothing about managing people. Or cooking food, or fitness. One important aspect of owning a business people forget-(for example) if you stink at accounting, or have no idea what employment laws apply to your business, or you want to own a bar but hate dealing with drunk people, or LOVE providing in home care to seniors and struggle with keeping up with all the regulations- HIRE the right person to deal with that. PAY them well. TREAT them well. Listen to your customers, but LISTEN to your employees, and back them up. Do your homework before investing in a franchise. Find yourself a mentor. Be humble. Don't expect to become rich overnight-it could take 3-5 years of hard work before you can start taking a pay check from your investment. Let your reputation, not your lambo or 3 story house speak for you.
You should read Rich Dad, Poor Dad. You're thinking like the Poor Dad right now.
I disagree. What he says is common sense. Better read it again
Am first nations from Canada I want to be franchisee on my committe how will this work on land I already own??
Thanks for the question. Are you exploring building a franchise on owned land? From a general perspective there is no issue building on owned land and many franchisees have done so. There may also be additional tax advantages and certain franchises provide incentives for Indigenous groups. If you are seeking to form a franchised type model within an existing committee that would be a question for a franchise lawyer. Sorry if I misunderstood the question! Feel free to reach out if we can help: www.franchise.city/our-services
Hi
Would you be able to help me in Canada?
Looking for something close to Toronto with a half a million investment
Thanks for the question. Yes, we are a Canadian based company serving both Canada and the USA. You can learn more about our services and request a consultant reply here: www.franchise.city/our-services
You just talked about business sectors but didn’t mention company name. Not helpful.
Sorry you feel that way. There are a number of reasons we don't publicly mention brands, but anyone can just give us a call, speak with one of our brokers who will not only disclose the name of the company, but provide you with a free assessment to determine eligibility and suitability for that particular franchise. www.franchise.city/our-services
how can I contact you tried calling the phone number and went straight to voicemail. I filled out an inquiry form on the website but no one has got back to me
Hi Ryan, thanks for the message. I see in our database your inquiry went to Joe Fedorchuk, who reached out to you on the 13th. If you don't manage to connect please let me know.
help me
I don’t want to make a million dollars just enough to get by.
Where's your chin beard?
lol it was replaced briefly by a full beard, and then razed to the ground.
Staffing you serious with Corona there is no jobs how can you say 6 million plus in revenue wow
I can say it because it was accurate for the time. The average revenue number in 2020 changed to 5.4 million.