7 Best Franchises to Own and What Makes Them Top Investments

Owning a franchise can be a smart investment strategy. Learn more about the best franchises to own and what makes them so profitable.

The more than 821,000 franchises in the U.S. are expected to generate $893.9 billion this year, according to the International Franchise Association. The franchise business model allows you to pursue entrepreneurship with a proven brand, training, and ongoing support. While iconic franchise brands like McDonald’s, 7-Eleven, and The UPS Store are strong franchise contenders, there are countless options with lower start-up costs and high-profit potential.

Best Franchises to Buy

To help you narrow down your choices and find the best franchise to own, we’ve put together a list of some of the top franchise industries to explore. These franchise industries are on a growth trajectory and can be lucrative markets.

1. Home remodeling: Strong gains in home values and increasing equity are helping the home remodeling industry surge. Annual spending for home improvements and maintenance is projected to grow to $477 billion in 2025, according to Harvard University’s Joint Center for Housing Studies. Many home remodeling franchises can be operated from a home office to keep overhead costs low. You can hire contractors to do the heavy lifting and concentrate on adding customers.
2. Home services: Today’s homeowners are juggling full-time careers, children, chores, and more. To leave time for self-care, many households are hiring home service providers to lighten the load. Franchises offering house cleaning, lawn care, window cleaning, or small handyman tasks are all in high demand.
3. Commercial cleaning: Commercial cleaning is a recession-resistant industry as businesses, schools, and public facilities always require cleaning services to maintain cleanliness and hygiene.
4. Staffing solutions: Low unemployment rates and economic uncertainty help create a strong market for staffing firms. In 2023, staffing firms hired 12.7 million temporary and contract workers. Tapping temporary workers enables businesses to have financial flexibility and trim expenses related to onboarding.
5. Pet care: If the countless cat videos online are any indication, people love their pets. And they’re willing to spend money to ensure they receive the best care. Demand for nutritious pet food, grooming, boarding, and daycare is strong. A business catering to furry family members has the potential to generate a hefty return on investment.
6. Fitness: The fitness industry continues to grow, fueled by increasing health consciousness and a desire for active lifestyles. Fitness franchises range from boutique studios offering specialized classes to large gyms with a variety of equipment and services.
7. Senior care: This sector includes in-home care, assisted living placement, and specialized healthcare services. Senior care franchises benefit from a large and expanding market, with families often seeking reliable and compassionate care for their loved ones.

How to Choose a Franchise

Owning a franchise can enable you to be the boss and set your schedule, with unlimited earnings

potential. You don’t need experience in the industry you pick because the franchisor provides extensive training and business coaching to put you on a path to success. To choose the best franchise for you, it’s important to do some research.

1. Identify your skills: The franchisor will provide training to ensure you know the ins and outs of your business, but it’s important to identify your transferable skills. If your franchise is customer-facing, you’ll benefit from having sales experience.
2. Choose a franchise type: You can narrow your franchise choices by determining the type of franchise you want to run. Do you want to be an owner-operator, or would you prefer to manage employees at a retail location? Do you flourish spearheading projects or are solo jobs a good fit?
3. Evaluate your budget: Start by determining your franchise investment. How much can you afford to invest? Learn the different types of franchise financing options you’ll need to get started.
4. Evaluate market trends: Explore market trends in your area. Find ways to fill the gaps in services that may be missing. Look into various industries and franchise opportunities within those sectors.
5. Review the FDD: Do a deep dive into the franchisor’s financials, legal obligations, franchise fees, and territory rights by reading the franchise disclosure document (FDD).
6. Validate the brand: Talk to existing franchisees to gain insight into the business. Learn their experiences to get a picture of any roadblocks you may face.

Once you’ve done all the research, you can attend Discovery Day at your top franchise to learn more about the brand and see if the leadership team shares your values and business style.

Kitchen Tune-Up: One of the Best Franchises to Own

Kitchen Tune-Up is a top franchise opportunity in the remodeling industry, according to Entrepreneur. It was ranked the No. 1 franchise in the kitchen and bathroom industry this year and has been part of the magazine’s top 500 franchises for the past decade.

We provide a low-overhead, scalable business model that can be run as a home-based business or retail location. For an initial investment starting at around $130,000, you get a turnkey business with the training and ongoing support you need to achieve your entrepreneurial goals. The average sale at 242 Kitchen Tune-Up territories was more than $13,000 last year.*

Remodel Your Future with Kitchen Tune-Up

If you’re ready to partner with Kitchen Tune-Up to launch one of the best franchises to own in your community, inquire now!

*See FDD for details.