Making predictions about the best franchise opportunities to buy and own in 2023 is a difficult task, especially when we’re living in times as uncertain as these.
To figure out which franchise opportunity is most likely to succeed, it’s important to consider the following:
- The industry in which it operates (and whether it’s going to remain in demand)
- Its reputation (and whether it has a track record of success)
- The support and training you can get by owning it
- The finances (such as the investments that you need to make and the profit-making opportunities)
With that in mind, here are our top 25 picks for franchise opportunities to buy and own in 5 different industries in 2023.
1. Food and Beverage Franchise Opportunities
The food and beverage industry will always be in demand, and there are numerous franchise opportunities within this space.
Restaurants or food service franchises, such as fast-food chains or coffee shops, can be profitable as long as you’re aware it’s not going to be a walk in the park and willing to put in the work.
Here are the top 8 best franchise opportunities in this industry:
McDonald’s is a globally established franchise that already has suppliers, procedures, training, and marketing in place for whoever’s willing to operate it.
If you’ve got 20 years to commit to a franchise and a hefty sum of around $1.4-$2.5 million to invest, this fast-food franchise can absolutely be worth it in terms of getting a return on your investment.
Here’s yet another huge business that’s unlikely to go out of business with how busy its premises are all the time.
With over 8.5k locations in the United States and around $250,000 in liquid assets on your hands, you could make a potentially great business out of this purchase.
Let’s be honest, Dunkin’s iced coffee is fire all year round, and you know it!
3. Sonic Drive-In
7 out of 10 US consumers are willing to spend more money on a business with great customer service, which is what this drive-in chain is known for.
The initial investment of $500,000 in liquid capital that you’d need to make puts Sonic Drive-In somewhere in between McDonald’s and Dunkin’s, so if their values and reputation better align with yours, it might be a purchase worth considering.
Chick-fil-A has one of the most in-depth processes for becoming an owner-operator, and their selection process is highly competitive.
This is not surprising, given that this franchise’s total net revenue has been steadily increasing year after year. In fact, their 2021 profits are $5.76 billion larger than those in 2020.
If you think that’s impressive, you can become a part of it for around $500,000 in liquid assets and with proof of financial stewardship.
5. Taco Bell
Can you believe this franchise has been in operation for over 50 years and is still considered financially stable?
This is what makes this fast-food franchise a great opportunity to grab, as long as you have around $750,000 of liquid cash sitting around.
Isn’t that a lot of money? Yes, but you won’t have to make any additional investments in the operating system because they already have one in place.
6. Freddy’s Frozen Custard and Steakburgers
Freddy’s Franchise is a hit for any lover of amazing steakburgers, and it has a sum of around $641k to $2.1m sitting around for an initial investment.
Another perk that comes with becoming an owner-operator of this franchise is that you don’t necessarily need to make a property purchase, as it offers the option of property leasing as well.
7. Frutta Bowls
Here’s something different for you:
An international food franchise opportunity that provides healthy nutritional meals for lovers of plant-centric foods.
With the lowest requirement of at least $100,000 in liquid assets for the initial investment, you can become an owner of a business that’s selling not just fun, healthy food but a desirable lifestyle as well.
2. Home, Vehicle, and Electronics Services Franchise Opportunities
Other industries that are always in demand are those centered around home, vehicle, and electronics improvement.
Let’s take a look at 6 franchise opportunities revolving around cleaning, repair, handyman, or maid services.
1. Ace Hardware
Ace Hardware is known for having an extremely knowledgeable staff, and their stellar service is what helped them break out in the market.
If you pride yourself on your home improvement services, you’ll need just about $250,000 in liquid cash to do it under the Ace Hardware franchise name.
Hint: They provide financing, so that’s something worth investigating.
2. Handyman Connection
Here’s another franchise opportunity centered around home repair and maintenance.
Handyman Connection requires a smaller liquid cash investment of just about $65k and delivers on the promise of having a constant need for your services.
Why? Because home repair is not a trend – it’s a necessity.
Unlike the previous two franchises, JAN-PRO’s services are more focused on business clients.
Owning a commercial cleaning and maintenance franchise is no easy feat, but considering that they retained earnings of $3.68 million in 2021, it might be worth investing in if you’ve got $150k in liquid cash on you.
If you’re more into electronics repair than home improvement, the UBreakiFix franchise requires only around $150,000 of liquid capital and offers financing for you to become its owner.
This is a great opportunity for all tech-savvy individuals who love working with computers, phones, game systems, and other gadgets.
If you’re looking for a low-investment cleaning franchise, MaidPro might be the way to go.
For only $35k, you could become the owner of this in-demand, recession-proof business that’s been reviewed as one of the top 200 franchises. Sounds good, doesn’t it?
6. Meineke Car Care Center
Lastly, here’s one car care franchise opportunity for all car enthusiasts.
With just about $50k in cash, you can become the owner of this high-demand business that already has a proven business system, high brand recognition, and all the operational support that you need to start running it.
3. Health and Wellness Franchise Opportunities
These fast-growing industries are filled with opportunities, with gyms, personal training studios, massage clinics, and franchises alike making for great purchases if that’s your thing.
We’ve singled out five for you to take a look at:
1. Prime IV Hydration
This time, let’s start with something different.
For $100k in liquid capital, you could become the owner of this disruptive health and wellness IV facility that provides vitamin cocktails and a spa-like experience to patients that need instant rejuvenation.
This opportunity is especially great for those who have experience working in the medical field and want to try themselves out in managerial positions.
2. Bodybar pilates
Although relatively young, this Pilates franchise has a 30%+ anticipated profit margin and offers both operational and marketing support for anyone willing to delve into it.
The initial investment that you need to make? Just around $150,000.
Want to become the owner of the largest yoga franchise in the world? You can, as long as you have $100k in cash on hand.
Things you can count on when starting are:
- Dedicating following
- Sales training
- Recruitment assistance and
- Personalized marketing services.
4. Anytime Fitness
With low operating costs and strong brand recognition, Anytime Fitness gyms are a great franchise to run.
The initial investment runs from $105k to $720k, which isn’t too bad considering that the success of franchise gyms usually depends on marketing and membership sales, which is something Anytime Fitness already has a stellar record for.
5. Planet Fitness
Now, this one, however, does necessitate a sizable initial investment ranging from $968k to a whopping $4 million.
However, if you’ve got that kind of cash lying around, it might just be worth it considering they have over 14 million members and are adored by first-time gym users for their judgment-free philosophy.
That’s the kind of attitude that leads to amazing retention rates, which just sets you up for success when gym franchises are concerned.
4. Education and Tutoring Franchise Opportunities
It’s undeniable that both kids and adults need some educational enrichment and occasional tutoring, whether that’s in language, math, music, or science.
Here are our top four picks for educational and tutoring franchise opportunities:
1. Kumon Math & Reading Centers
The COVID-19 pandemic has created huge opportunities for remote learning that are here to stay, which is why we believe education franchises are something worth looking into.
In exchange for a low investment of $70k in cash, Kumon provides a profitable business opportunity for those who are willing to seize it.
And, you don’t even need to have a Master of Arts in teaching to get started!
2. School of Rock
This education franchise requires an even lower initial investment of $49,9k, for which you can teach music and instruments to tens of thousands of kids all across the world.
Even though their primary clientele is children, they also have an adult program for anyone who’s looking to enjoy a quality jam session.
So, if you’d like to run an educational franchise that everybody thinks is a blast, the School of Rock might just be for you!
3. The Learning Experience
This growing franchise combines child daycare and early education, and it has already demonstrated potential for lasting success.
You’ll have someone supporting you through the development of operational processes and preparing you to run a successful business, as long as you’ve got $150k in cash to invest.
I think we’re all aware by now that we’re living in the age of digital transformation, where knowledge of computer languages, programming, and robotics will be essential for future success.
ICode is an educational franchise that provides computer science tutoring for kids whose parents want them to thrive in an environment of technological advancements.
To become an owner of this franchise, you’ll need $350k in liquid capital.
5. Retail Franchise Opportunities
And finally, we’re ending this article on a high note with our top three picks for an ever-changing retail industry and its franchising opportunities:
7-Eleven is one of those franchises with extensive resources for anyone willing to run them.
Considering it’s a number one convenience store, their initial investment requirement of $50k to $150k is not that big, especially when you factor in that they offer up to 65% financing on your franchise fee.
2. The UPS Store
Here’s a packaging franchise that everyone’s heard of!
And how wouldn’t they, considering that one of the UPS stores is practically within a 10-mile radius of the majority of the US population?
The UPS Store is predicted to continue growing in 2023, and you can own one of their brick-and-mortar stores with $75,000 in liquid cash to begin with.
3. Mainstream Boutique
The gift industry is competitive, but if anyone’s proven that it can be profitable, it’s the Mainstream Boutique franchise.
With just $50k in cash, you can own one of their stores across the US and offer fashion-forward clothing, accessories, and jewelry pieces to women across the country.