Some people don’t have to sit in a classroom at a college or university, under the tutelage of a professor, in order to earn top dollar. All they have to do is know what franchises they can invest in, that have the potential to be their cash cow. What six franchises do you think may be the most profitable?
Unlimited Earning Potential
1. From popular catch phrases like ‘Time to make the donuts!’ to ‘America runs on Dunkin,’ Dunkin’ Donuts has proven to be one of the most beneficial franchises there is. The company first emerged in 1950, as a coffee and donut shop. However, the firm added sandwiches to the list of offerings a few years’ back. What’s more, Dunkin’ franchisees use a single supply-chain partner, which keeps costs down. There is no holes in this information:
- Average initial investment: $980,735.00;
- U.S. locations as of 12/25/10: 5,699;
- Approximate closures in recent years: 388;
- Hours of training offered: 310.
2. Who doesn’t want to look their best? Well, Supercuts provides the opportunity to do just that. The company is a publicly traded hair salon chain. New franchisees also are expected to have $100,000 in liquid assets and a minimum net worth of $300,000, which is lower thresholds than many franchising operations. Sharpen-up your look by immersing yourself with these facts:
- Average initial investment: $152,525.00;
- U.S. locations as of 6/30/11: 2,098;
- Approximate closures in recent years: 50;
- Hours of training offered: 37.
3. Maybe you’ve driven past a billboard which bares the Massage Envy logo and information. Contrary to what many may think, the company first started in 2002. It also boasts spa and massage outlets that offer $59 monthly memberships. And, the steadily growing franchise averaged more than $1 million in annual sales in 2010. These facts are important if you want to be envied:
- Average initial investment: $455,505.00;
- U.S. locations as of 12/31/10: 656;
- Approximate closures in recent years: 7;
- Hours of training offered: 61.5.
4. Many are stumped as to what to get that special someone for a birthday or anniversary, even. For many, this is where Edible Arrangements comes in. This firm sells sculpted-fruit, gourmet gift baskets that are shaped like floral arrangements. You also can purchase favorites such as chocolate-dipped strawberries, bananas and apples. The company was first founded by brothers Tariq Farid and Kamran Farid in 1999. Digest these additional facts:
- Average initial investment: $216,713.00;
- U.S. locations as of 12/31/10: 836;
- Approximate closures in last three years: 37;
- Hours of training offered: 97.
5. It should come as no surprise that McDonald’s or its shortened moniker ‘Mickey D’s’ made the list. The company has been around for decades and recently has doled-out cash for commercial advertisements to appeal to a wider range of customers. That’s not all, many locations are now equipped with Wi-Fi access, which makes for a more pleasurable visit to the restaurant. Add contemporary art and new hanging lights and you have the perfect backdrop. ‘I’m lovin’ it’ is McDonald’s slogan, but you will love this:
- Average initial investment: $1,480,625.00;
- U.S. Locations as of 12/31/10: 14,016;
- Closures (last three fiscal years): 367;
- Hours of training offered: 840.
6. Do you know someone who has a room or two that needs a little sprucing-up? Well, The Maids just may be the company for you. This organization is located in almost every state, with the exception of Pennsylvania. Know that each franchise begins with roughly six employees, plus its owner. See why this investment can be a clean sweep:
- Average initial investment: $106,420.00;
- U.S. locations as of 9/30/10: 1,053;
- Closures (last three fiscal years): 38;
- Hours of training offered: 210.
Remember, the above is only a sampling of the many and worth-while franchises that one could own. To find the perfect franchise, you may have to get a little creative in terms of what your interests are. Ka-Ching!