Now, if you’re ready to move on with the purchase of a new franchise, then you have to buy the right franchises; for this, you only need to ask yourself, “Do I have enough money to open a fast-food franchise? Can I give it a try at a hotel with seven (or more) figures? Is it worth it to start big or with a new franchise that’s less expensive?”
Also, you may have an excellent business idea or outstanding work ethic, but you will never achieve the success you deserve if you don’t have a lot of time and opportunity on your hands. And above all else, you need to know what you want. Once you do this, everything will start flowing as naturally as a river.
This is why, before deciding to change your life with the possibility of a new franchise, you need to answer the questions from the beginning and start working on your investment plan. In the process, you’ll discover that many of them are more available to you than ever. Buying a new franchise can benefit you and your family in ways you wouldn’t even imagine.
Looking for a New Franchise Opportunity? Here Are 5 Hot Brands
With hectic schedules, these days having a piece of a famous franchise helps you to “seek your joy” without worrying about the many issues that are involved with starting a business from scratch. There are great opportunities in the 2020 new franchises lists from which you can choose without doing that much of a research, but here you’ll find a list of 5 brands that may be beneficial for you and your economy in 2020.
Why Choose a Small Business Franchise?
The biggest obstacle to the contemporary entrepreneur’s growth is capital insufficiency. And franchising allows companies to grow without the possibility of debt or equity costs. In comparison to purchasing an existing business completely or beginning a new one from scratch, a franchise has its advantages and disadvantages. Nonetheless, special requirements are needed, as becoming a partner in a bigger organization when you are a franchisee, makes you an essential part of a larger business structure.
Pros of New Franchises
Like most things in life, you have to ponder the advantages or disadvantages of any decision you are about to make, and with new franchises, this is no exception. Always remember to weigh the pros and cons of any franchise you have the eyes on, and if you have enough income to make it thrive. To make it easier for you, here are the main advantages and disadvantages of starting a franchise:
Advantages
- Recognition
- Support
- Training
- Great marketing and advertising
- Financing assistance
- Site Selection
- Possible special discounted fees if you’re part of a minority or vulnerable group.
Cons of New Franchise
Disadvantages
- Royalties
- Franchise fees
- No total control (franchisees attain to the franchisor’s will)
- Termination clauses
- Required purchases
- Business uncertainty (as it sometimes it can be too new in the market)
Pick the Right Franchise Or Existing Business For You
There are many places to look for when considering buying a franchise, but going directly to the franchisor is the most obvious place to start; even more so if you already have a pretty good idea in which franchise you are interested in. By doing this, you can provide the franchisor with all the details you would need to purchase a franchise. This is the perfect way to start and pick the right franchise or existing business for you.
If you have no idea where to start regarding this new phase of your life, then you can consider a franchise consultant. A franchise consultant is someone who helps you decide, at no cost, what kind of franchise is better for you, and in case you’ve decided on the category or concept, a consultant can be someone that helps guide you towards the best brand for your goals and financial capability.
You can also try looking in any of the next options:
- Newspapers
- Internet (with caution)
To make this easier for you, here is a list of the 5 new franchises to invest in 2020.
SafeSplash/SwimLabs/Swimtastic
Cost
Initial Investment: $44,500 – $1,790,000
Liquid Cash Requirement: $60,000 – $300,000
Why it’s a good opportunity
SafeSplash Swim School specializes in teaching swimming to children from 6 months old to adults, as well as organizing summer camps, parties and such. They dedicate their work to developing a happy lifelong swimmer. SafeSplash is the largest and fastest growing swim school brand in North America. They have successfully taught over 7 million swim lessons over the past decade and they’re opening new locations throughout North America on a monthly basis, so the chances are that you may have a location right around the corner from you pretty soon.
Also, SafeSplash/SwimLabs/Swimtastic has relationships with third-party sources that offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, and payroll.
Urban Air Adventure Park
Cost
- Franchise fee: $30,000
Why it’s a good opportunity
Urban Air Adventure Park is a private company and has won multiple awards including Shape Magazine’s designation “Best Gym in America for Kids.” SMU Cox Dallas 100 has recently been recognized as one of Dallas ‘ Top 8 companies for its diversity, innovation and dedication in developing and sustaining a company in today’s competitive climate.
Urban Air is the leading family fun destination with a range of attractions for all ages. The entertainment group, based on Dallas, pioneered the Adventure Park idea and is now the world’s leading adventure park operator. There are 300 locations scheduled for 2020.
Profile by Sanford
Cost
- Initial Investment: $445,000 – $699,500
- Liquid Cash Requirement: $100,000
Why it’s a good opportunity
Profile by Sanford was listed for the second time on the competing Franchise 500 list of Entrepreneur magazine. In its Franchise 500 ranking for 2020, the company magazine ranked the wellness coaching system No. 64 —a leap of 100 points from its 2019 ranking.
Sanford Profile incorporates nutrition, workouts and lifestyle coaching to promote weight management and weight loss for participants. Sanford Health doctors and scientists developed the plan for a positive improvement in lifestyle.
Sanford Profile has ties with third-party sources that include funding to cover: start-up costs, facilities, stock, accounts receivable, payroll, and veteran incentives.
Experimax
Cost
Cash Required: $60,000Total Investment:$175,000
Why it’s a good opportunity
Experimax is a special concept. They sell Apple ® devices and accessories, repair, trade-ins, device and system upgrades, which are already owned. Such goods and services are popular and can all be purchased at a single location.
Experimax has a greater quality of life for franchisees and franchise workers than many others. The venues are closed on Sundays and on public holidays and hold conviniet business hours. The majority of workers want to work in the technology industry and most consumers like the goods and services provided by Experimax locations, making the Experimax location experience fun and cheerful.
Monster Tree Service
Cost
The initial franchise fee for a single territory is $49,500. It includes an exclusive, protected territory of at least 200,000 in population.
Why it’s a good opportunity
Established in 2008, Monster Tree Service® has quickly become the most trusted, successful and recognized tree service franchise in the nation. We’re a national brand with local experts.
Monster Tree Service® is a home-based franchise opportunity that offers:
- Multiple Revenue Streams
- High Repeat Sales
- Great Profit Margins
- Scalable Growth
- Normal Hours
If you are looking for a solid, sustainable business model that is fun to operate and makes money, and can see yourself in business with the nations’ number one Tree Care franchise, Monster Tree Service franchise might be the perfect franchise for you.
If you’re interested in the tree service franchise business, then you can get free and honest consultation regarding the subject on Tree Franchise, as they specifically work with people that’s looking for a tree franchise to invest in.
In conclusion, choosing to invest in a franchise, no matter if small or big, can be a decision you will be mostly grateful for in the future. All it takes is for you to do the right research and ask professionals for help, so no matter what decision you make, you can be certain that you did the right thing. New franchises are a great way to start on a big dream, and you can prove it!
