If you’re interested in starting or buying a franchise of an existing company, there are a lot of options to choose from (from restaurants to cleaning services). How do you find solid franchise opportunities that don’t disappoint? First, you need to understand some of the factors that make a good franchise opportunity:
- The parent company actively participates in the marketing of their franchisee’s stores when appropriate.
- The franchisee will receive adequate training, and have a company representative available to answer questions while operating the business.
- There’s a solid history of generating successful income levels for current and past franchisees (and that most of the franchisees are happy).
- Overall stability of the parent company (you don’t want to buy a franchise with a company that looks like it may go under in the foreseeable future)
Entrepreneur Magazine has become an authority source on franchises over the years, with their annual collection of top franchises. Here are some of those rankings, where you can find the best franchise opportunities in a variety of industries:
If you feel that a franchise opportunity is right for you and your small business startup goals, take the time to research a variety of opportunities before committing yourself (and your finances) to any one company.