For individuals who are interested in starting a business, a franchise can feel less risky than starting a new business from scratch. Along with brand recognition, franchises and business opportunities come with proven success models built in, and industry training to set new owners up for success.
But if every franchise is a great opportunity, then what are the best franchises? The ones that make owners the most money and provide a great self-employed lifestyle? That answer is different for every person, but in this piece we will share some general insights. Read on to learn how to analyze the best franchise to invest in for you, and to review our ultimate list of franchises including low-cost franchises, food franchises, and more.
What is the Best Franchise to Invest In?
The answer isn’t simply the most profitable franchises. One entrepreneur’s profit center is another’s living nightmare. Some people make different kinds of work look easy, but in the end, any business ownership is hard work—meaning you have to choose the style of work that suits you. Every franchise comes with a different business model and set of market concerns. This also means a different type and amount of work is required with each distinct franchise or business opportunity. Some opportunities require the owner to focus solely on business development and relationship management while the franchisor team handles the rest of the operations. Other business opportunities put you in the manager’s seat of hiring, budgeting, inventory management, and more. And, there are opportunities in-between to match every person’s level of interest in different aspects of business ownership.
This diversity is part of what makes deciding to start a franchise or business opportunity so exciting. Not only is there a wide array of different industries to choose from, but different ownership structures to fit each entrepreneur’s desires for work-life balance and hands-on involvement in the business.
Ultimate List of Franchises
We compiled this list of franchises from across the spectrum of structures, industries, and opportunities in the franchise market today. While we’ve included the cash on-hand that is needed to get the business started, remember this may not be the only investment required. Some types of franchises pay back a portion of the business profits to the franchisor, while other companies lease you the equipment required to do the work. This is why when you click through to explore these opportunities, the overall investment cost may differ from the initial cash required.
With that said, let’s explore some of the best and most interesting franchises in the market today:
The best franchises and business opportunities fall into some industry categories you might not have ever thought about as profitable verticals to open a franchise.
Caregiving Franchises and Business Opportunities:
Caregiving franchises let franchisees act on their compassionate spirit while also making a great living.
Here are just some of the caregiving franchise opportunities available:
- Synergy HomeCare: Synergy HomeCare provides non-medical home care to individuals of all ages. This includes the disabled, the elderly, and those recovering from surgery or illness. Through its Care For Everyone platform this nationally-recognized organization supports franchisees in building their client base and achieving explosive growth. The cost of this franchise varies widely depending on territory size. Cash Required: Minimum of $39,000.
- MobilityPlus:MobilityPlus is an opportunity to support the millions of Americans who rely on mobility devices like electric scooters, power wheelchairs, stairlifts, ramps, and more to stay active and live at home independently. In addition to training, this franchisor helps with online marketing and helping clients receive financing, among other supports. Cash Required: $50,000.
- Golden Heart Senior Care: GoldenHeart Senior Care provides non-medical in-home care to seniors and their caregivers, including companion care. This fast-growing business was recognized by Entrepreneur magazine as one of the best franchises to own in 2021, thanks to rising demand for these services coupled with the business model. Cash Required: $45,000
- GoTelecare: GoTelecare is a 2-in-1 franchise opportunity, providing franchisees with the license to sell a medical billing platform as well as a telemedicine platform. Once the client signs on to use the tools, GoTelecare takes care of the rest except for some light account management. This means the primary goal of franchisees is business development. Cash Required: $40,000.
Home Improvement Franchises and Business Opportunities:
Home improvement franchises let franchisees learn new skills and open the doorway to the stable and always-growing real estate market. Here are just some of the home improvement franchise opportunities available:
- Bloomin’ Blinds: Bloomin’ Blinds provides homeowners with sales, installation, and repair of their window blinds. Adding the service element means franchisees don't have to be solely focused on sales to keep growing revenue. Additional revenue streams could include screen doors, solar screens, and window washing. Cash Required: $50,000.
- Honest Abe Roofing: Honest Abe Roofing does not require a franchisee to have roofing experience to break into this stable industry. Every home has a roof that will eventually need replacement. Honest Abe Roofing provides franchisees with the software, training, and support to deliver a job well done and build a business they can leave behind as a legacy. Cash Required: $50,000.
- N-Hance: N-Hance is a wood refinishing business that was named one of the“Top 100 Franchises for Less than 100K” by Entrepreneur Magazine in 2019. With more people addressing home repairs than ever before, N-Hance empowers franchisees to restore cabinets, floors, and doors at a fraction of the time and cost required by competitors. Cash Required: $50,000.
Financial Services Franchises and Business Opportunities:
Financial services franchises train franchisees in the strategies, best practices, and compliance that is necessary for a financial business to grow and thrive. Here are just some of the financial services franchise opportunities available:
- The Loan Consultants: The Loan Consultants helps franchisees assume a respected role as a financing specialist. Finance industry experts teach you how to manage transactions like equipment leases,
small business loans, commercial real estate loans, and more. The Loan Consultants is rated A+ by the Better Business Bureau and connects you with more than 1,200 international affiliates. Cash Required: $13,800.
- Advisory Capital:The Advisory Capital Broker Training Program offers three distinct programs for entrepreneurs to choose from based on the level of support they want and need. All three packages equip franchisees with the skills you need to broker commercial deals with over 50 types of funding. Cash Required: $10,000.
- National Tax Office: National Tax Office is a business opportunity to start your own tax preparation business with support and training. They connect franchisees with tax preparation software as well as on-demand IT and tax law support. It is their mission to help entrepreneurs earn a year-round living, working only during tax season. Cash Required: $799.
Vending Machine Franchises and Business Opportunities:
Vending machine franchises are some of the lowest-cost franchises available that represent a very passive way to grow and gain income. Here are just some of the vending machine franchise opportunities available.
- Coffee Business: Coffee Business vending machines offer 12 different beverage selection choices and an integrated cup dispenser without requiring a water line. This means these machines can be set up almost anywhere. The machines accept cash and coins, and let you set your own prices. Maintain the machine and collect your cash--it’s as simple as that. Cash Required: $13,995.
- FroYo Vending Business: FroYo Vending is a turnkey business in a box, providing everything you need to get started and monitor sales remotely. Machines accept debit and credit cards, are easy to use, and affordable for the consumer. Set up the machine in a high-traffic area, refill and maintain it as needed, and watch the profits come in. Cash Required: $9,500.
- Healthy Break Systems: Healthy Break Systems turns the rising demand for healthy food into a great business opportunity. The company helps you choose the right location for your machine and offers a wide inventory of snacks for you to choose from to replenish the machine. Learn what your customers like best and keep the machine stocked! Cash Required: $5,500.
- Marley Coffee: The Maxx Branding Program featuring Marley Coffee uses leading-edge brewing technology to provide gourmet coffee. Machines only accept cards, no cash, for a low-effort profit collection experience. After restocking your machine 10-12 times you will usually reclaim your initial investment and the profits will really begin! Cash Required: $11,000.
- Passive CBD Vending: Passive CBD Vending is legal in all 50 states, with age verification capabilities built-in to these highly secure, high-tech machines.Interactive touch screens provide an educational buying experience that will keep customers coming back. Claim your corner of this fast-growing market! Cash Required: $25,000.
What Franchise Can I Buy For $10,000?
Though we just explored a list of comparatively low cost franchise opportunities, some entrepreneurs are looking for the best low cost franchises to make a more minimal investment to start their business. Here is a list of franchises and business opportunities you can buy for around $10,000--or much less.
- Coverall: Coverall is a professional office cleaning franchise focused on creating cleaner, healthier work environments. Initial training for franchisees covers not just cleaning techniques, but also business operations training to help you grow your business and stand out in your market. Coverall supports more than 8,000 franchised businesses in 90 markets across the world. Cash Required: $4,000.
- Cruise Planners: Cruise Planners is an opportunity to run your own travel advisor business, helping travelers schedule cruises, land tours, all-inclusive resorts and more. This American Express Travel Representative has been named the #1 home-based travel franchise by Entrepreneur Magazine for 16 straight years. Cash Required: $10,995.
- DNA FitBiz: DNA Fit Biz is a business opportunity to become a licensed reseller of DNA test kits to health clubs, medical facilities, weight loss clinics, and other locations. These in-home test kits return insights about what foods are right for the individual’s diet, potential food allergies, exercise recommendations based on genetics, and more. Cash Required: $6,795.
- InnoDraw:InnoDraw is a digital measuring service that serves designers, engineers, architects, contractors, and any other professional who needs perfectly-accurate measurements of a space to do their job. Through an independent license of the InnoDraw platform you can open your own digital measuring service, backed up by the InnoDraw measuring methodology, business process, and ongoing technical support. Cash Required: $10,000.
- SocialOwl: SocialOwl is a business opportunity to start your own social media management business with the support of a turnkey program that provides you with training, support, software, and a website. Set your own plans and pricing to meet the needs of your market. Cash Required: $149.
- Talexis Partners: Talexis Partners is a business-to-business employee assessment provider. Business owners chosen as Talexis Alliance Partners become advocates for this solution at every stage of the talent management lifecycle, from recruiting to retention. These assessment tools help employers streamline their workforce and build high-performing teams. Cash Required: $2,500.
- Tech Support Local: Tech Support Local is an opportunity to launch your own tech business and learn the industry along the way. As a partner to Tech Support Local you will be responsible for business development and relationship building, while their team handles the marketing as well as the technical work and back-office support. Cash Required: $10,000.
Cheapest Food Franchises to Open
When many entrepreneurs think of opening a franchise, a food franchise is what might first come to mind. Name-brand food franchises can be extremely expensive to open, upwards of $100,000. And that is not to mention the time and effort that will need to be committed by the franchisee.
While these options won’t spare you the hard work, we have created a list of the cheapest food franchises to open, each with an initial cost of $50,000 or less.
- Bowl Boss Acai:If you want a food franchise that promotes clean eating in a welcoming environment, Bowl Boss Acai might be for you. 46 hours of classroom training for the franchise management team is just the beginning of the support this franchisor provides. The US acai industry brings in $500 million each year making this a chance to start claiming your corner of the market. Cash Required: $40,000.
- The Dapper Doughnut:The Dapper Donut is an opportunity to start your own storefront or even a food truck franchise. Using a portable donut machine, you can take the donuts to your clients or open a location and let them come to you. Marketing support, on-site support, and a proprietary recipe are among the many benefits the franchisor provides to its partners. Cash Required: $50,000
- East of Chicago Pizza:East of Chicago Pizza has thrived for over 20 years in the highly competitive pizza market. Founded in 1991, this brand now has over 80 locations in 6 states with aspirations to achieve 150 locations in the next five years. With a commitment to strong core principles and a love of people, the company’s development and training staff work hard to get you up and running in a protected territory. Cash Required: $50,000.
- Burgerim:This internationally-popular burger chain has locations in five countries and is growing rapidly across the globe.Operating through smaller-sized restaurants lets them keep startup costs low for entrepreneurs while also focusing on delivering a high-quality menu experience. Since many food products arrive prepared, business owners also will not have to worry as much about kitchen overhead and staff. Cash Required: $50,000.
- Woops! Macaron: Woops! Macaron is a chance to franchise a food kiosk and enjoy owning a food business without the investment in a full-fledged restaurant. Built-in refrigeration and sink allow owners to properly store, serve, and manage inventory without any baking required. Or, you can invest in a storefront for a more immersive experience. Existing relationships with five of the nation’s biggest mall management companies means there might already be a mall near you waiting for a Woops! Cash Required: $30,000.
- New York Bagel Cafe & Deli: New York Bagel Cafe and Deli has been a successful franchise operation since 1994. With a menu that goes beyond bagels to include delicious toppings sandwiches, breakfast, and coffee, this franchise requires minimal space to make a strong impact in the community. Cash Required: $27,500.
Explore Our Directory of the Best Franchises
We may not be able to decide for you what is the best franchise to start in 2021, but we hope we have helped you get an idea of what the best franchise is for you. Whether you want a hands-on business ownership experience like a food franchise, or the set-it-and-forget-in convenience of a vending machine franchise, there are opportunities for you to start a business that will improve your life on your terms.
If none of these options stood out to you, we invite you to explore our full Franchise.com directory to see all the incredible opportunities that could transform your community for the better. We encourage you to request more information about as many franchises you like, and learn more about the best franchises to be part of your future.