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Success Factors Of Top Franchises And Brands That May Work For YouBy Expert Author: Clint Shaff
Thereís no playing down the success of business leaders and innovators. Their strategy, savvy, commitment, and perseverance made them what they are today. These industrialists have now taken their operations to the next level and expanded the business through franchising. Years later, they are now among the top franchises in America and in other countries.
Which winning team should you become a part of? Are you passionate about the industry? Do you see yourself in the line of business down the road? Bear in mind that buying a franchise is a substantial investment with fees varying from one company to the next, so prepare to dig deep into that pocketbook.
Five out of the top ten franchises are food-related, namely Subway, Jimmy Johnís Gourmet Sandwiches, Dennyís, Pizza Hut, and Dunkiní Donuts. If food is your thing, then you have your work cut out for you, given the number of successful franchises out there. It goes without saying that restaurant experience will be helpful here.
For retail, 7-Eleven, Aaronís, Ace Hardware, and Radioshack are in the top 100. The success factor for 7-Eleven was its evolution from traditional convenience store to food outlet, showcasing a hot food menu and inexpensive branded food items. This quickly upped their popularity and made them the anytime, anywhere one-stop shop.
The rest of the list consists of health clubs (Anytime Fitness, 24-Hour Fitness), salons (Supercuts, Great Clips, Fantastic Samís), automotive services (Midas, Jiffy Lube), and hotels (Days Inn, Hampton Hotels, Intercontinental Hotels Group), among others. Web applications are available to do a preliminary screening and help you determine which industry would best fit your location, budget, and goals. Youíll also have an opportunity to consult franchise advisors free-of-charge.
There are other franchise opportunities besides those mentioned above. For the complete list of top franchises in 2014, visit www.entrepreneur.com/franchises/rankings/franchise... Since a huge amount of your time and resources will go into this venture, make sure to think this through carefully. Though there are less risks in franchising, there are still risks nonetheless. With a lot of heart and patience, though, your franchise should be at the top of the podium with the rest of the winners.
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