The Best Franchises To Own

Franchise Business Practices Needed To Be Successful

Best Franchises To Own | Commercial Capital Training GroupMost emerging entrepreneurs see franchise opportunities as the ideal business model. After all, franchises offer the independence of true entrepreneurship, with the added benefits of built-in marketing, branding, training, and a support network from peers and the parent company. However, when narrowing down choices to figure out the best franchises to own, the options are not so clear. Some people think that the best franchises to own are those with the most recognizable brand names. But in markets that are potentially saturated, the most visible brands are not always the best franchises to buy. Before settling on a particular franchise, there are a number of factors to consider.

What Is The Best Franchise To Own?

The better question to ask is “What makes a good franchise?” Is it ubiquity? Is it the ability to make sizable profits? Popularity? Turn-key operations? Of the factors that do into deciding which are the best franchises to own, there are a few quantifiable metrics to use when researching what various franchisors are offering.

The best franchises to own offer some form of support system to franchisees. The whole point of the franchise model is to allow people to own their franchises, but have the support and communication from the franchisor to help make running the business as easy as possible. The best franchises to buy offer market research, industry expertise, and support at all levels. The last thing any entrepreneur wants is to buy a franchise where the franchisor has a “sink or swim” philosophy toward new franchisees.
Franchises are usually geared toward new businesses owners, and as such should have some scalability. The best franchises to buy into have the ability to start small and grow, without reducing revenue potential.
The best franchises to own are those which provide solid profit margins. However, the most recognizable franchises are not always the most profitable, and rely on volume of sales over everything else. For instance, and burger franchise in a city where the market is already saturated with other burger franchises – including many from the same franchisor – is not going to make nearly as much revenue as one in a location that does not have much competition. If you want to know the best franchise to own, research the franchise’s sales and compare it to the bottom line as well as the overhead to determine exactly how profitable the business really is.
The best franchises to buy should offer a simplicity to their methods and practices. Ultimately, there is no such thing as a truly “turn key” franchise, but emerging entrepreneurs should look to buy franchises that offer a level of simplicity which can be built upon, rather than starting off with a number of complex procedures that can cause new owners to lose control of things quickly.
Earlier in this article, we used the example of how opening a burger restaurant in a location where the market is saturated will severely limit profitability regardless of how well known the franchise brand is. Some of the best franchises to own right now offer products and services that are needed and desired by a good portion of the population, but have no market presence in a number of locations. Keep in mind that franchises are not centered around fast food anymore. Franchises offer goods and services for everything from pest extermination to salons, hospitality, leisure travel, and everything in between.
The best franchises to own should offer something more than an opportunity to make money. Franchisees should pick a field where they will enjoy what they do. People with a love of cars should look at automotive franchises. Those who love international travel should buy a franchise that specializes in organizing vacation trips. The list goes on, but will a little research, there should be franchise opportunities that line up with our personal interests, as well as market viability so that the profit margin is strong.
The best franchise to own is one that can weather economic downturns by offering products and services people need and want at affordable prices, while still bringing in a decent amount of revenue. People will always need their cars repairs or their taxes done, and small luxuries, technology, and fun activities will never go away, if the economy dips a little. However, a severe crash can cause a number of franchises to do under. When picking the best franchises to buy, consider how integral the products and services are to a given location, and if the business could survive an economic downturn that takes a few years to recover from.
Among the best franchises to buy, the more streamlined ones will offer a good exit strategy for franchisees. Even the most successful franchise owner may find themselves at a point where they want to retire, or explore other business opportunities. The best franchise to own should offer a way to sell the franchise back to the parent company, keep it in the family by passing it on to a relative, or by selling it to a new prospective franchisee. Having an easy exit strategy is a key factor when researching the best franchises to buy, especially if this is going to be your first business.
Every franchise has an initial buy-in price. For that, most franchisors will give franchisees branding, training, and access to their support network, at the very least. The best franchises to buy are those that offer all of the aforementioned things, plus a potential for a much larger return, when compared to the initial investment. Franchisees should not have to spend the entire first year struggling to break even on their initial investment and beating their heads against the wall to figure out how to drive sales. That goes against the purpose of the franchise model. There are some very profitable franchises that require a buy-in of over $1 million, but the payoff annually is many times that amount. By the same token, there are very popular franchises with a nominal buy-in price where franchisees will have to work very hard to keep from going into the red, due to market saturation, or low profit margins
The best franchises to own will be able to provide the amounts needed to buy into the franchise, the yearly fees to maintain access to branding, training, support, etc., and the average overhead and bottom line to figure out profits. Beyond that, many franchises will require franchisees to have a certain amount of money on hand as a financial cushion. Emerging franchise owners should always inquire as to whether the franchisor needs franchisees to supply funding for build outs and new construction, establishing contracts with vendors and suppliers, and if they need to pay for any additional equipment. Opening a new franchise might require external financing to cover the cost of ground-up construction, certain marketing campaigns, new equipment, and other expenses.

A Business Opportunity In Finance

The Commercial Capital Training Group (CCTG) offers a business opportunity that is very much like a franchise, while still offering the independence of a true entrepreneurial venture. CCTG offers thorough training in the field of commercial finance – the most economically resilient industry in the world – along with marketing, branding, a flexible schedule, the ability to work from home, low overhead, and (most importantly) nearly unlimited profitability.

The Commercial Capital Training Group has all of the qualifications of the best franchises to own, with the added benefit of letting you work as much or as little as you want. We will give you the training, and everything you need to launch your own company, plus 24 hour support, marketing, branding, and the ability to offer unique products and services that help to grow the economy. Even the best franchises can suffer in a recession.

CCTG give you the tools, training and support to to run your own business in the world of commercial finance. We will teach you how to bring business owners and lenders together to work out financial agreements that benefit everyone – including the local and national economies – while earning sizable revenue in the process. Work from an office or work from home – CCTG provides the flexibility you need and you determine your schedule.

The best franchises to own cannot offer all of this, plus unlimited earning potential. We will give you exclusive access to our board of lenders, a 24/7 support network comprised of people with the financial and business acumen – as well as decades of expertise – so that you can have the “turn key” experience of owning one of the best franchise models, with the added benefit of full independence. If you would like to start your own business with solid profit margins, low overhead, full training and support – contact the Commercial Capital Training Group today, and see how we can help turn your dreams about success into a profitable reality.