The new year and new opportunities to get rich, and what better way is there than getting one of 17 most profitable franchises to buy in 2018?
After writing about most profitable franchises to buy in 2016 and most profitable franchises to buy in 2017, covering the topic in the year 2018 was inevitable. You may wonder why we keep coming back to it. There’s no big secret. Franchising is simply a very, very lucrative business. Let’s start from scratch with the basic franchise definition. The original franchise business definition is a bit long, but in a nutshell, a franchise is “a business system in which private entrepreneurs purchase the rights to open and run a location of a larger company.” Basically, you purchase the license from the big guy to run a part of his company. You’re the franchisee or the franchising company, and the other side is called a franchisor. Reasons, why so many people opt for this kind of business, are various. Some are just too lazy to bother opening their own original company. Others are anxious about doing everything on their own, while some simply seize an excellent opportunity when they see one. Oh, yes, franchising is one profitable venture. What are your thoughts on McDonald’s? That’s the most profitable franchise in the world, and if you wish to purchase it, you’d better have a million or two lying around.
But you don’t necessarily have to spend a fortune to buy one. McDonald’s isn’t on our list because it’s not the latest trend (not to mention how long you’d have to wait to get your $2 million back). There are lots of pretty decent franchise opportunities under 10k out there, and the most successful can be found on our list! If you’re based in India, Subway is in the first place of top 10 franchise business in India. Subway is an American franchise, but the original, native and best franchises to own in India are Kidzee and US Dollar Store.
One of the greatest advantages of franchising business is that you are not alone. A franchisor receives all the advice and necessary equipment from the franchisee. In short, you get the recipe that works. However, there are a couple of downsides, just like with any other business. Sometimes the contract will limit your creativity, or you have to continue royalties for using the company’s name.
So, how did we come up with the best franchise business opportunity for 2018? First, we checked which are consumer trends for this year at Business. Apparently, these would be healthy food products, all kinds of beauty salons, pet care, and technology. Now more than ever people are investing in their bodies one way or the other. Either by eating healthily, working out, visiting hairdressers and spas or by combining all of the above. Pets are recognized as family members and have to be pampered regularly. As for technology, just look around you and count how many gadgets you possess. Bearing these trends in mind, we visited Entrepreneur to see their 39th annual list of top franchises and picked the ones which suited the latest tendencies in the market. Naturally, we started looking for the best options from the top.
With the names of greatest franchise opportunities for 2018, we’ll also give you information on how much you need to invest in it (the overall expenses), how long the company has been in franchising business, and what kind of business that is. We can’t say all these could be called low cost franchises with high profit, but at least most of them are under $1 million. Actually, their price is much lower than that. Some will cost you less than $5,000.
Therefore, you should be able to get your money’s worth pretty soon because you’ll be following 2018 trends. The initial investment should pay off quickly, and you could be collecting big revenues if you choose one of 17 most profitable franchises to buy in 2018!
17. GNC Franchising
Type of business: Vitamins and nutrition products
Initial investment: $180,504 – $347,270
Franchising since: 1988 (30 years)
It has become a habit to buy some vitamins at the pharmacy along with your fruits and veggies at the supermarket. GNC’s successful sale of vitamin and nutrition supplements comes as no surprise when you see how many gyms are located in your neighborhood.