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Becoming a franchise owner can be an exciting time, with a seemingly limitless range of industries to choose from and a world of possibilities. It’s essential to narrow those options down to the most profitable franchises to get started right.
Finding the most profitable franchises can help place a future owner on the path best suited for them and place them in an industry ready to grow.
Early education is rapidly gaining recognition as an essential part of every child’s development. Education begins at birth, and the industry that has grown to provide quality educational services during those essential first years has helped make early education businesses some of the most profitable franchises on the market.
The early education industry has a presence in almost every community, large or small, and it serves a market of more than $22 billion nationally. The industry grew by 7.5% over the past year alone, and is expected to continue that expansion in the years ahead.
As with many of the most profitable franchises, market and competition are critical when considering potential growth in the early education industry. Look for franchises that target underserved neighborhoods to reduce potential competition and make a significant difference in your students’ lives.
Investment requirements will change depending on the franchise, but future owners should expect a total investment of at least $500,000. For example, Lightbridge Academy has a startup cost of $250,000 and a total investment of $621,000 – $5 million.
The nation is becoming older on average, with a graying population and the boomer generation entering their senior years. This new reality brings with it new business opportunities and the chance to make a meaningful difference in people’s lives.
The assisted living industry has expanded to meet the needs of a growing clientele. It serves a market of almost $92 billion and is home to some of the most profitable franchises in the U.S.
Owning an assisted living franchise places owners in a valued and essential support role and helps deliver critical services to millions of people every day. Franchise models range from in-home care to assisted living to 24-hour care at a dedicated facility.
Investment requirements in the assisted living industry can often be lower than those of other industries. As an example, one of the most profitable franchises in the field, Assisted Living Locators, has a startup cost of $50,000 and a total investment of $67,000 – $87,000.
One of the most remarkable transformations over the past few decades has been the integration of technology into practically every business and industry. Networks, servers, and computers are part of the working world now, and they require constant care.
The managed services industry provides that care, and it’s home to a number of the top 10 most profitable franchise businesses in the U.S. A managed services provides the tech know-how and expertise to small businesses and supports and manages their infrastructure.
Contracting out tech support is rapidly becoming the norm among small businesses and allows them to get high-quality assistance on technical issues without having to train and staff experts themselves. The industry now serves a market of $79 billion and is expected to grow at an annual rate of 13% over the next six years.
The investment range varies, but potential franchise owners can plan on spending about $150,000 to get started. NerdsToGo, one of the most profitable franchises in the industry, falls in that range and requires a startup fee of $80,000 and a total investment of $133,000 – $181,000.
The past decade has witnessed a revolution in the restaurant industry and something of a changing of the guard when it comes to the most profitable franchises. And it’s all thanks to the rise of online ordering and delivery.
Today’s customers increasingly prefer to avoid the crowds, hassle, and expense of dining out, but they still want good food served up hot and fast. The ghost kitchen is ideally suited to serve that growing need.
A ghost kitchen, also called a cloud kitchen, operates entirely online, with no dining facilities and often no in-person ordering. Franchises operate out of a kitchen, have a full website, and offer online ordering, delivery, and sometimes pickup.
This new restaurant model has taken off, with online food delivery projected to see a CAGR of 9.76% over the next six years. And the investment requirements can be lower than with a traditional restaurant — one of the most popular ghost kitchen brands, Wing Boss, has an initial fee of $20,000 and a total investment of $105,000 – $465,000.
Teaming with a franchise should position you for growth and future development. Assisted Living Locators operates with that goal in mind at all times.
We’ve built our business model to give our owners the tools for expansion in an exciting industry, and we’ve built a reputation for honest, ethical care establishing ourselves as a leading name in the field.
Assisted Living Locators is growing, and we’re looking for future owners to join us.
Want to learn more? Contact us today!
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.
