Some of the best entrepreneurial opportunities come pre-packaged. While there’s much excitement to be found in the start up scene, there’s equal thrill to be discovered inside of the franchise world.
Some people find joy in building a business from the ground up, while others like to hit the ground running by supporting an existing franchise. For those of you who find yourself leaning more towards a franchise industry, check out the following five companies – listed inside of Entrepreneur’s Top 500 – and learn about the impacting impressions they’ve created for themselves today.
Freaky-Fast and for the Hungry
Yes, it’s Jimmy John’s, the top franchise available to entrepreneurs today. This gourmet sub sandwich venue redefined high-speed delivery in a world where too fast is not fast enough. The successful Jimmy John’s franchisee possesses an eagerness to compete with some of the top fast food names in the business. Minimum investment: $323K-$544K.
Groomed for Success
Supercuts, a national chain of hair salons, rose to prominence on a simple business model: Get customers in and out in under 30 minutes with the style they like and no appointment. In this fast-paced environment that differentiates through wide appeal to women, men and children, being profitable depends on one’s ability to keep up with fashion and the pace of modern-day life. Minimum investment: $144K-$293K.
A Convenient Alternative
It’s one of the most iconic convenience stores in the country, and it also offers one of the lowest potential minimum franchise fees. 7-Eleven, which dates back to 1927, got its name by reflecting original store hours (they’re now open 24/7), catering to the last minute, forgetful and impulsive quick-strike consumer that lives in all of us. Minimum investment: $11K-$1.12M.
What America Runs On
Dunkin’ Donuts is a storied brand that was founded in Boston, Massachusetts in 1950 and has grown to operate in 32 countries. Once a breakfast-centric venue that catered to the 9 to 5 class, it’s now a hotspot for all walks of life at any time of day. It’s parent company, Dunkin’ Brands, also owns Baskin-Robbins ice cream, and occasionally pairs franchises. Minimum investment: $217K-$1.6M.
Stop in Anytime
If you’ve been to an Anytime Fitness center at 3:00 a.m., the fact that its business model hinges on giving members the privilege to visit even when staff isn’t present is readily apparent. This type of accessibility coupled with reasonable membership rates has allowed the gym to expand rapidly since it first opened doors in the early 2000s. Minimum investment: $63K-$418K.
Before You Jump In
While an entrepreneurial spirit and some capital to invest can make you a franchise owner in short order, it pays to heed the advice successful franchisees agree on before you go all in. They recommend taking a hands-on role in overseeing the people who run your business. After all, when all is said and done, you’re only as successful as they are, no matter which franchise you buy into.