45 Best Franchise Opportunities To Pursue In 2023
Updated July 31, 2023
Buying a franchise is one way to start your own business. Owning a franchise allows you to get started in business ownership quickly due to brand recognition and resources provided to you by the parent company. Exploring different franchising opportunities can help you compare and decide which investment is right for you and your business goals.
In this article, we list 45 of the best franchise opportunities for the year 2023, plus we provide tips for evaluating franchise opportunities and some questions you can ask to know if starting a ranchise is right for you.
Franchise opportunities in the US
From the restaurant and food-service industry to business services and fitness categories, only you can decide which is the best franchise to own. It all depends on your interests, experience, finances and risk aversion.
Since there are thousands of franchises in the United States to consider, know that the list below is just a starting point. Here are some of the best franchise opportunities available today—listed in alphabetical order—based on the ease of starting the business and the support made available to franchisees:
7-Eleven is one of the most popular convenience stores in the country. Getting started with a 7-Eleven franchise takes a few months and it comes with training. Brand recognition is also strong with 7-Eleven.
Owning an Allstate Insurance Agency is a great option if you have a passion for sales. Allstate provides ongoing education and support for its franchise owners, making it easier to start.
Related: Learn About Being an Insurance Agent
Ben and Jerry's is an ice cream brand well-known for its fun flavors and socially conscious practices. Franchise owners open up a local shop and serve the brand’s unique desserts to customers.
As a relocation service for seniors, Caring Transitions helps when it comes time to move. It offers assistance with moving management, home liquidations and estate sales.
5. Central Bark
If you love dogs, consider starting a doggy daycare with Central Bark. Dog daycares take care of dogs while owners are busy or away, making sure they are happy and safe.
Related: How To Become a Dog Walker
Chem-Dry Carpet Cleaning is one of the most popular carpets and upholstery cleaning services in the world. They have over 3,000 franchises and are always looking for new, great owners.
If you're looking for a more seasonal franchise, consider Christmas Decor. Christmas Decor franchises specialize in holiday decorating services. As such, they only operate during the holiday season.
Cruise Planners is a cruise planning agency users can run from their homes. This makes the startup cost significantly lower compared to options. Travel agency experience is not required since Cruise Planners train franchisees.
Dale Carnegie Training franchises teach business topics around the country. Some topics include leadership, sales and motivation.
10. Dream Vacations
This home-based franchise opportunity includes no overhead costs or inventory. If you want an affordable franchise option and the ability to work from home, Dream Vacations is a strong choice.
This painting service helps to transform homes and businesses. Running a Five Star Painting franchise requires no painting experience because everything is run through subcontractors.
12. Great Clips
Great Clips is a haircutting service. Franchise owners receive the latest updates in technology and training along with the name recognition that comes with having been around for over 30 years.
Griswold Home Care offers in-home companion care services and respite care for seniors and adults who need a helping hand. The service model varies by state. In some states, the business is simply a referral service for pre-screened, professional caregivers. In other states, the business is responsible for employing and supervising the caregivers.
14. The Grounds Guys
The Grounds Guys is a lawn care management business. Becoming a franchise owner allows you to enter into a stable industry.
Hardee's is one of the more popular burger brands in America. Some of the benefits of owning a Hardee's restaurant include training, advertising assistance and loyalty program implementation.
Jan-Pro is a commercial cleaning service that cleans other businesses. There are several different franchising options available, including a home-based option, so you can choose the option that best suits you.
Jazzercise is an exercise company that offers franchising opportunities. These opportunities come at different prices, allowing you to choose the plan that works best for you.
Jimmy John's is a restaurant that sells gourmet sandwiches. Its bread is freshly made every day, and it has a wide selection of sandwiches to choose from. This is a great opportunity if you're looking to get involved with a fast-growing chain.
Offering education through dance programs, Kinderdance International is a great franchising opportunity. You can run your classes from places like community centers, allowing you to save on initial startup costs.
20. Little Kickers
This franchise opportunity allows you to teach soccer to preschool children. This is a good option if you want to teach soccer and get involved in your community.
21. Mac Tools
Mac Tools is a provider of high-quality tools. As an owner, you have a truck and a selection of popular tools that you sell to customers in a designated area.
Mathnasium is an education company that aims to help children better understand math. If you want to own a franchise that works with children, this is a good option to consider.
This is another franchise opportunity with strong brand recognition. There is a large initial investment involved, but you'll join an organization with many years of experience and success.
Nothing Bundt Cakes has locations all over the country, providing a small shop feel for its bakery despite being a franchise. This is a great opportunity if you want to own a bakery without spending time building your customer base.
Orangetheory is an exercise gym that focuses on group classes and motivation. Due to the space required to run an Orangetheory, initial startup costs can be high.
Oxi Fresh Carpet Cleaning is one of the world's largest carpet cleaning services. It is also one of the most environmentally friendly. Some of the benefits of owning a franchise include the low startup costs and the ability to operate out of your home.
Padgett Business Services offers a variety of services to other businesses. You'll assist other businesses with things such as payroll, taxes and business advice.
28. Papa John's
Papa John's is a pizza restaurant that focuses on quick delivery. Startup costs can be high, but Papa John's comes with substantial name recognition and ample marketing tools.
29. Planet Fitness
Planet Fitness is a chain of exercise gyms that markets toward those who just started working out. It comes with strong brand recognition and a loyal customer base, making it easier for franchisees to get started.
Proforma is a provider of all things business documents. These franchises can help businesses print documents, create forms and develop promotional products. Proforma is ideal if you're great with organization and looking for a franchise with a low startup cost.
Related: 10 Steps To Begin Your Own Business
Franchises of Property Management Inc. work to find tenants for rental properties and process rent payments. This is a good franchise if you're interested in real estate and have strong management skills.
32. Pure Barre
Pure Barre is a fitness brand with a large client base. One of the biggest reasons to consider Pure Barre as a business is the corporate support offered to new franchises, including assistance with real estate, operations and marketing.
When the inside of a building is damaged, services like the ones offered by Rainbow International Restoration are needed. You'll offer restoration services as a result of smoke, mold, water or disaster damage.
RE/MAX is a real estate agency that has been in business for over 40 years. It currently has over 100,000 agents across the world, making it a well-known brand anywhere you go.
Rhea Lana's Franchise Systems, Inc. organizes large events for selling children's clothes. Franchise owners plan two consignment events per year for the spring/summer and fall/winter seasons. New owners attend two-day training to learn the basics of merchandising, consignment software systems and how to network with their local community.
36. Right At Home
This home care agency works to improve the quality of life for its clients. You don't need experience in either home care or running a business because Right At Home offers comprehensive training.
37. School of Rock
School of Rock is a musical education franchise. People of all ages can learn to play an instrument and be in a band. This is the largest music education franchise in the country, but it comes with a relatively large initial investment.
38. Solar Grids
Solar Grids franchise owners focus on the sale of solar panels to homes and businesses. They do not handle the installation of the systems, making this a good franchise if you want to focus on sales and management.
39. Sonic Drive-In
This restaurant drive-in is growing increasingly popular. To start a Sonic Drive-In franchise, you need a large initial investment, but you'll receive strong training and brand recognition in return.
40. Sports Clips
Sports Clips is a haircutting service with a sports theme. Inside, customers get haircuts while watching sports on large-screen TVs. Sports Clips franchises have a relatively low startup cost, making them a worthwhile consideration.
Another commercial cleaning service, Stratus Building Solutions is an affordable option for first-time franchise owners.
SuperGlass Windshield Repair franchises specialize in the repair of cracked or damaged windshields. You aren't required to own a physical location and can instead opt for a mobile business, keeping startup costs low.
43. Taco Bell
Another popular fast-food chain, Taco Bell is an excellent franchise opportunity. You'll join a community of over 350 other franchisees who can provide advice on how to succeed.
44. Tread Connection
Tread Connection offers customers mobile wheel and tire services. You'll assist your customers with their wheels, helping them to get back on the road.
45. The UPS Store
UPS Stores help people send and receive packages. It is one of the better franchising options due to its financial stability and brand recognition.
Please note that none of the companies mentioned in this article are affiliated with Indeed.
Tips for evaluating a franchising opportunity
Before you make any investment decisions, you should carefully research the industry and company so you can be an informed buyer. Here are some tips to help you select the right business model and franchise opportunity for you:
Evaluate the needs of your community. You can conduct an industry analysis to forecast your potential success. If your local market is saturated with the product or service you hope to offer, it could indicate strong demand, but be sure to research the competition also.
Look for an opportunity that matches your interests, skill set and work experience. During your industry analysis, you can search online for reviews of companies to gain more insight, such as employee “work happiness” ratings, job categories or customer reviews. In addition, some franchisors might require previous experience to approve your purchase of the franchise.
Consider the franchise fees, royalty fees and related startup expenses. It is important to know the total amount of your upfront investment costs so you can prepare your financing options and uncover any hidden fees or excess spending.
Determine the profitability of the franchise. Ideally, you should be able to identify if the opportunity has a low investment cost and a high yield. Most franchisors should have data available that indicates the performance of a franchise and how long it takes to make a profit. The bottom line would be to minimize your financial commitment and reduce your financial risk.
Identify the business model and support system. What does a successful partnership look like? What expectations does the franchisor have? Be sure to find out if any resources will be provided—such as management training and related business materials—and determine if they will be adequate to meet your needs.
Request a Franchise Disclosure Document (FDD) before you invest in any franchise. An FDD outlines all of the key details about a franchise. According to the Federal Trade Commission, franchisors must provide this document to a prospective franchisee at least 14 days before signing a contract or accepting any fees.
Consult with an attorney, qualified financial management professional or business coach. An accountant, financial planner or financial advisor can assist with the ongoing money matters and decisions related to operating a business. Many entrepreneurs turn to their business coaches for guidance with research and business strategies as well as accountability to reach certain goals.
Are you ready to be a franchise owner?
You should take some time to assess your personal goals, financial health and reasons for seeking business ownership. Here are some questions you can ask yourself:
What are my transferable skills?
What are my goals, dreams and aspirations?
How important is future growth to me?
How much time do I want to invest in this business?
What is my net worth?
How much money can I afford to pay out-of-pocket?
What is my spending tolerance?
Is this the right time for me to be considering business ownership?
Frequently asked questions
Does a franchise owner earn a salary?
No, a franchise owner typically doesn't earn a salary. They use the funds that their business earns to pay the overhead costs that ensure the successful operation of the business. After they pay all those expenses, they can convert the excess revenue into earnings for themselves.
Is buying a franchise a good idea?
Buying a franchise can be a good idea, but it depends on your professional goals. When you buy a franchise, you become a business owner without designing a business plan, establishing a brand or creating a product or service. You receive a business strategy to follow and can sell a product or service with which consumers are already familiar.
What does a franchise owner do?
A franchise owner follows the franchisor's guidelines to ensure they operate a business that abides by the company's established standards, processes and systems. They offer high-quality services or products to customers and maintain consistency with the brand's image. In addition, they may:
Communicate with the franchisor to receive ongoing support
Monitor the business's financial performance
Implement marketing strategies
Hire, train and retain staff members
Oversee daily business operations
Explore more articles
- How To Calculate Average Deviation (With Examples)
- How To Open and Extract RAR Files on Your Mac in 6 Steps
- 6 Types of Adjusting Journal Entries (With Examples)
- 9 Types of Sampling Methods: Definitions and What To Avoid
- What Is Environmental Scanning? (Importance and Applications)
- 30 Top Skills To Learn Online
- How To Ask for a Job Description Before an Interview
- How To Write a Project Closure Report (And What To Include)
- How To Parse Data in Excel in 12 Steps (With Example)
- How To Calculate Profit and Profit Margin in Microsoft Excel
- How To Leverage Your Strengths in the Workplace
- 13 Study Tips for Computer Science Students