The new year brings new opportunities. If you’ve been thinking of getting into a business, why not start with a franchise?
Franchises provide aspiring entrepreneurs with a developed business style, guidance, and assistance while giving them the independence of business ownership. It doesn’t matter if you have business management experience or not; a franchise can let you own a business without the need for expertise.
Here are the best franchises that you can look into for the coming year:
There are lots of deli franchise business opportunities to choose from. A deli restaurant serves a variety of delicious products, such as meats, cheeses, sandwiches, and other gourmet foods. Compared to other food businesses, a deli has lower startup costs and requires less overhead expenses. In a state like New Jersey, Italian meats are also considered an everyday food.
Quick service restaurants require a hefty capital, but with the right location, you can achieve a fast ROI. QSRs, also known as fast-food restaurants, don’t provide table service. They offer ready-made food to customers that are served in a quick manner, which can either be served in-house or for take-away. With most QSR franchises, you are also given a reliable and proven business model.
3. Convenience Store
A convenience store is considered a natural destination retail location. In strategic locations, a convenience store can bring in a considerable income. There are also a lot of franchise options available for a small starting cost. However, convenience stores require long operational hours, as well as higher maintenance costs due to a lot of people coming in and out of the store.
4. Health Store
Health-oriented stores offer customers a variety of organic, healthy, and naturally-sourced products that are targeted for health-conscious individuals. Although a health store is an excellent way to introduce healthier options to the community, the success of the store depends on the location. Health stores tend to be more frequented by people who have higher purchasing power, so you may want to open up a health store in the business or shopping district of your area.
5. Fitness Center
If you are a person who values health and fitness, then you may want to open a fitness center in your community. Fitness centers like gyms and yoga studios require a significant investment upfront for facilities and equipment, but overhead costs run relatively low thereafter. Moreover, fitness centers need only a few employees to run, so you won’t have to worry about substantial labor costs.
Cafes are present on almost every street corner in the modern world. If you feel that opening a cafe in your area is a good idea (and if there aren’t a lot of competitors), you can franchise a coffee shop from a brand that you like. However, you should carefully take into account the competition that you might have from other food establishments in the area.
Having a franchise gives you the independence of owning a business without the nitty-gritty details of starting from scratch. If you want to explore business ventures this coming 2020, these franchise business ideas should be on your priority list.