The big brands are extraordinarily pervasive in the public eye – examples are typically in the restaurants vertical:
- Papa Murphy’s
- Dunkin Donuts
- Red Mango
Among other well-seasoned companies like:
- Liberty Tax
- UPS Store
Literally, you could visit any industry vertical and find franchises that fit the need, but it’s more important to take the time to find one that actually meets your skills and interests.
Our point of view is to take a different approach; take time to really think about your budget, your willingness to take on debt, and your true capitalization (most importantly don’t reach and become under capitalized!). The best part about franchises is they have systems in place that reduce the risk to failure, but if you start in the wrong business due to an incentive that enticed you, or stretch your budget so thin you can’t crawl out of the hole, then you haven’t really helped yourself at all.
From a business ownership point of view, maybe you take a more responsible position, invest in a lower cost business – roll profits into a new opportunity and diversify your business holdings by acquiring another business a few years down the line.
Slow and steady wins the race.