We can never designate one way to determine which franchise businesses are the strongest and best in the market, but looking at the top franchises of 2014, analysts have a close look at a few attributes that quickly identify a fast-growing, powerful franchise. Before going over the top franchises of 2014, we’ll look at some of these qualities.
- Proven affordable business model: clear proof that the franchise knows how to make money doing what they’re doing.
- Start-up support: when franchisers (the original owners) help their new owners (franchisees) with their branches, especially through site selection, lease negotiation, financing, and other guiding help, it shows how competent the company is in expanding their interests.
- Branding and marketing: a company that can get its name spread across the nation is naturally going to be more successful than those with much less marketing prowess. Using TV, radio, traditional mail, and other methods like marketing collateral and digital ads, these franchises can expand at a much greater rate.
No business is ever guaranteed to do well as a franchise, but these 10 have shown great growth as they spread.
Anytime Fitness, LLC
This co-ed, 24-hour franchise of gyms and fitness facilities counts heavily on proprietary software, security, and surveillance to help their owners keep their fitness clubs safe without having to hire unnecessary personnel. The owners greatly benefit from the growth of fitness in society and active lifestyles, as well as health insurance and corporate wellness initiatives. Startup costs range from $71.6K to $353.9K.
The full service salon offers shampooing and conditioning, coloring, blow drying, styling, waxing beard trimming, as well as normal cuts—the works. Like many family-business barber shops, they keep their franchisees around closely, but also gain a corporate edge by stocking professional hair care products for their customers to take home. This cash flow creates an easy choice for one of the top franchises of 2014, with startup costs between $113.8K and $233.6K.
Jan-Pro Cleaning Systems
This business, named by many as “recession-resistant,” offers an invaluable service: cleanliness in the workplace. As such, it’s no surprise that this profitable industry has fostered one of the top franchises of 2014, and it also boasts a $48 billion industry value—with startup costs very low, from $3.3K to $49.9K.
Cruise Planners (American Express Travel)
Americans love to vacation, especially on cruises. If you’re looking to become a franchisee but have a somewhat tight budget, becoming a cruise agent may be the way for you. Requiring little to no travel experience, it can also allow you to work from home—not only one of the top franchises of 2014, but a very attractive and popular one too! Avoid, retail space and construction, keep your own schedule, and as a bonus you’ll only spend $1.9K to $10K on a startup.
7-Eleven is a huge franchise with almost 53,000 locations. The global adoration of the idea of convenience has spurred the market, bringing great profits to stores like these. Using a turnkey approach where the parent company provides the franchisee all that he or she needs to start operation for a lowered cost as well as a POS scanning system for very easy stocking, 7-Eleven offers a big potential business for a startup of as low as $50K.
Kumon Math & Reading Centers
Toru Kumon, a Japanese math teacher, created the principles now used at Kumon over half a century ago and their influence has spread from his second-grade son to children all over the world. With over 23,475 franchise units, the model relies on daily work and advancement based around individual pace for math and reading. Toll-free phones, Internet sources, and newsletters plus meetings make sure that franchisees stay connected with the mother company, and this communication lands Kumon a spot in the top franchises of 2014. Startup costs are between $72.2K and $149.3K.
The UPS Store
The largest postal franchisor, this company has 30 years of experience to ensure that its franchisees get the best possible experience (and profits). New programs knock $10,000 off the licensing costs and 50% off the application fee to veterans and military spouses, so this may be the spot for you! Startup costs range from $150.2K to $420.3K.
Liberty Tax Service
Businesses like this have blossomed because of their seasonal cycles for franchisees. The new owner can work hard for four months, and then does whatever they want with their new profits—usually further investment and business opportunities—for the other eight. Now with over 4,400 offices in only 17 years, this and other top franchises of 2014 don’t need prior experience for you to start today, but it’s a big help. Startup costs begin at $57.8K.
These fresh fruit bouquets and other arrangements are a bit of a niche, but with 700 franchisees in 12 different countries, it’s hard to deny this franchise’s success in 2014. Startup costs are between $154.3K and $279.3K.
Ace Hardware Corporation has ruled the retail hardware market for a decade, and they’re looking for new franchisees to expand even further rom their Chicago roots in 1924. With a boom in the DIY market and no slowing in sight, startup costs from $400K could start you with your own Ace Hardware.
From a few thousand to hundreds of thousands, there are now franchise opportunities for everyone. This list should point you in the right direction towards some great franchises.