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Exploring the top franchise opportunities in accounting, assisted living, cleaning services, and restaurants can help aspiring owners capitalize on climbing wages and an expanding workforce.
Climbing wages and an expanding workforce could make now a promising moment for future franchise owners to begin pursuing their dreams and look at top franchise opportunities for a potential industry and brand to join.
We’ve put this guide together to help prospective owners get the facts about top franchise opportunities and give them the information they need to get started on their future.
Every business in the U.S., from the largest to the smallest, must keep detailed financial records. Doing so allows them to ensure employees and vendors get paid on time, revenue is adequately managed and reported, and the business stays on top of all tax obligations.
Many businesses work with professional accountants to safeguard against potential issues and leave their brand in expert hands. It’s a common approach to dealing with capital, and it helps make an accounting service one of the top franchise opportunities for future owners.
A new owner can expect to invest about $80,000 on average to get started in the accounting franchise business. That cost includes franchise fees, royalties, and initial startup costs, placing the owner in an industry projected to grow at a 1.5% rate over the next five years.
Potential investors should take a look at their local market before choosing accounting. Some markets are more competitive than others, and knowing where to open a location can impact growth prospects.
When considering the top franchise opportunities, it’s critical to think ahead. Tomorrow’s business leaders are today’s new owners with vision and an understanding of which industries are expected to bring rising demand in the years to come.
The assisted living business is one such industry. As the national population ages and baby boomers enter their golden years, the industry is expected to grow to support the increase in population.
One of the appealing aspects of the assisted-living business is the required investment. Franchise ownership cost at one of the top franchise opportunities in the assisted-living industry is designed to be within reach of as many potential owners as possible.
For example, the estimated initial investment at Assisted Living Locators ranges between $74,235 and $94,459. That places owners in a leadership role in an industry expected to expand at a CAGR of 5.53% over the next six years.
As with accounting, cleanliness is a necessity nationwide. From healthcare to automotive repair to electronics to home care, there’s a constant and continuing demand for quality cleaning services for business and personal use.
Running a cleaning franchise can answer that demand and connect an owner with a growing industry set for more development in the future. It helps make the business one of the top franchise opportunities in the nation.
Operating a cleaning business is a resource- and labor-intensive process, and that’s reflected in the industry’s startup costs. The average investment cost in the cleaning sector is about $111,000, with a wide range of additional expenses that depend on location, focus, and other variables.
As with the accounting business, new owners should pay attention to the local market, especially which services are already available and where the demand for additional care might be highest. Doing so can guide their decisions and aid them in selecting the right business for local conditions.
Most of us encounter the next entry on the list of best franchises to own each day as we drive around town. The byways and exit ramps of every community both large and small have franchise restaurants of all shapes and sizes, offering a wide range of meals from burgers to tacos to pizza to full-service, sit-down dinners.
Franchise restaurant ownership is one of the most widely recognized and popular options for new entrepreneurs. It serves a hungry and appreciative market, places owners in an industry with a projected CAGR of 2.6% over the next five years, and works with a guest base that’s growing with the population.
A crucial challenge to restaurant ownership can be cost. The average investment for a full-service restaurant is $1.35 million, and the average startup cost for a quick-service restaurant is $600,000.
Quick-service trends can change quickly, and today’s popular brands might face future concerns when guest preferences shift. Be sure to do intensive research on customer inclinations and brand direction before teaming with a franchise in this industry.
Franchise ownership takes a team of like-minded people who share a common vision, and that’s what we provide our owners at Assisted Living Locators.
We’re leaders in an industry that’s expanding as the population ages, and we have a vision for the future of the business that’s flexible, customized for each client, and has helped us grow into a national brand with potential.
Want to learn more? Contact us today to continue the conversation!
Angela Olea is a visionary and accomplished business leader in the senior care industry. She is a respected authority on franchising, elder care and senior placement, serving as a guest speaker at state and national aging conferences. In 2019, Angela received the honor of Top 50 Most Influential Women's in Arizona and the Visionary Award from Az Business Magazine.
