Best Franchises to Invest in: What to Look for In a Top Opportunity
Are you thinking about franchise ownership? Learn more about the best franchises to invest in, and what to look for when deciding.
Benefits of Franchising
Nearly 54% of Americans think now is the time to start a business, and almost 15% are in the process of launching a new venture, according to the Global Entrepreneurship Monitor. Business ownership can provide financial freedom and the autonomy many people crave. It enables people to diversify their portfolios and provide a legacy for future generations.
Even though the number of people who want to start a business is climbing, financial limitations, fear of failure, and lack of experience are some of the top reasons holding potential entrepreneurs back. If you want to achieve self-sufficiency but aren’t sure how to get started, the franchise business model can help you chart a new course as an entrepreneur. Franchising allows you to open a business with an established brand, a network of partners, and the tools you need to be successful.
There are more than 4,000 franchise brands spanning a wide variety of industries. Whether your passion is pets, sports, food, or cars, franchising can help you achieve your goals. To determine the top franchises to invest in, find an evergreen industry with a history of weathering economic difficulties. Choosing a franchise with multiple revenue streams that appeals to businesses and consumers can enable you to build a robust customer base. A good franchise is nimble and stays abreast of changing market conditions and consumer trends.
Finding the Right Franchise Fit
To help research franchises, Kitchen Tune-Up has compiled a list of some of the best franchises to invest in so you can make the best choice.
- Home services: In 2023, homeowners completed an average of $13,667 on home maintenance, remodeling, and repairs, Angi As new home prices skyrocket, many homeowners turn to remodeling their existing homes to save money, creating high demand in the home remodeling industry. Dual-income families are also turning to businesses in the home services industry to ease the burden of caring for their homes and create more wiggle room in their schedules.
- Pets: Americans love their pets, and they’re willing to spend money to make their furry friends happy. The American Pet Products Association forecasts Americans will spend $150.6 billion on their pets in 2024. Starting a mobile pet grooming business or opening a pet daycare can be a lucrative opportunity for a savvy entrepreneur.
- Senior care: The aging population in the U.S. is booming. The number of seniors in the U.S. is expected to nearly double by 2050. There is ample need for businesses that offer home health services, home modifications, and specialized transportation.
- Specialty beverages: Coffee continues to be the beverage of choice. More Americans drank coffee in the past day than any other beverage, including water, according to the National Coffee Association. And the popularity of specialty beverages, like energy drinks, is strong. A beverage franchise has all-day appeal with a smaller footprint than a full-service restaurant or fast-food location.
Write Your Own Success Story with Kitchen Tune-Up
More than half of homeowners spent $25,000 or more on renovations in 2023, up 37% from 2000. And kitchens continue to be the top room choice for remodeling, according to Houzz. Kitchen Tune-Up offers a turnkey franchise business in a booming industry. You don’t need remodeling experience to succeed as a Kitchen Tune-Up franchisee. We provide all the tools, training, and support you need to establish a kitchen remodeling business in your area.
Whether a homeowner wants to refresh the look of their kitchen or reimagine the entire space, Kitchen Tune-Up does it all and can provide quotes for most of our services during the initial consultation. Our franchise offers a scalable opportunity with low overhead costs in the profitable home services sector.
Inquire now to learn how you can take your Kitchen Tune-Up franchise to new heights.