A franchise is a licensing agreement between a company and an individual. Companies who have franchises offer to sell their brand name and Business model to third-party operators who are called franchisees.
Franchises are one of the easiest ways for an individual to start a business without worrying about building a brand. Some franchisors may even provide training and equipment in their package offering making it easy for anyone to start a business. If you're a business owner looking to expand your business through franchising, you can click here to find out more about the process.
Whether you're looking to start small or big, a franchise option is available for you. The real question you need to ask is which of these opportunities can make the best profit for you.
Food Stall/KioskEverybody needs to eat which makes food kiosks an in-demand product to the franchise. A lot of people love food kiosks because they're fast, inexpensive, and the food tastes great.
Here are some affordable food franchises you can start:
- Chester's Chicken - A renowned name in the food industry — and their chicken can attest to that reputation. Launched in 1952 and with franchises beginning in 2004, they now have stores in over 1000 locations. They require an initial investment of $12,000 and their franchise fee is $3,500.
- Checkers and Rally's - These two are known for their tasty burgers. They have stores in over 800 locations, and 80% of those are franchises. They require an initial investment of at least $96,414 and their franchise fee is $30,000.
- Baskin-Robbins - If it's a dessert business you want, you can go for Baskin-Robbins. The company is known for their ice cream and their sister company Dunkin Donuts. They have global franchises, so brand name recognition is basically guaranteed. They require an initial investment of at least $93,550 and their franchise fee is $25,000.
Coffee Shop/StandsCoffee, or liquid fuel for some, has been powering people up for centuries. Just like food, a lot of people need their cup of coffee in the morning. Take care of all the grumpy morning people with these affordable coffee shop franchises:
- Corner Bakery Cafe - This is a cafe that offers prepared meals on the side. The company has been in business since 1991 and started offering it to franchisees in 2007. They require an initial investment of at least $10,00 and require a 5% royalty fee.
- Cafe 2 U - One of a kind coffee shop that offers a quality coffee on-the-go. Franchise owners will be selling from a Cafe2U van provided by the company. The trailer is equipped with all the things you need to make good coffee. They require an initial investment of at least $10,900 and require a $175 royalty fee per week.
Service And Vending machinesSome people would prefer businesses that can earn passively and this is where this business opportunity comes in. Service and vending machines are excellent for those who want to generate passive income. All you need to do is visit the device once in a while and do periodic maintenance. Here are some franchises available in this space:
- Back Rubber Vending Machine - This business offers massage chair vending machines. It's a business that can become very successful — especially in high foot traffic areas like malls. They require an initial investment of at least $10,000.
- United Vending Group - This vending machine opportunity is much like any other vending machines you know. Their devices carry chips, beverages, and even pastries. United Vending Group has been around for more than 20 years and has a proven track record in the vending industry. Their machines are also credit card ready which sets them apart from the competition. They require an initial investment of at least $10,000.
- Alco-Buddy - A one of a kind vending machine that offers to test your alcohol level. Drunk driving is a leading cause of death, and by installing these things to bars and pubs, you'll be doing people a favour. A single unit of their machine is $1,499