Landing on number 3, and steering in a different direction then travel agencies, is Kumon. Related: 5 Low-Cost Franchises You Can Start for as Little as $4,000, Initial franchise cost: $138,400 to $470,000. The best franchises to buy in 2020 range from low-cost options to high-end, established nationwide brands. Even in the past two years, the fast-food business has seen sales grow 6 percent, to $11 billion, in 2018, and as of the third quarter of 2019, it was projected to improve same-store sales (5 percent) and overall sales (8 percent) again. Read our complete list of the best franchises to own before making such a critical decision. Buying a franchise starts right here! And as the majority rules, Smoothie King is number 7 and is for $263,600-$844,500. While hot companies and sectors change, there are several key characteristics to franchise opportunities that present the best ownership experiences and outcomes. Scrubbing floors and picking up garbage in the parking lot. So far, the strategy has worked, as Planet Fitness memberships have doubled over the past five years, from 7 million to more than 14 million. If you are interested in buying a franchise in 2020, you should consider the following hot and trendy franchise investment opportunities listed below. Also, McDonald’s has training that is well known to be at a high level. At number 14 is KFC, which is also a very well-known fast-food chain. There are articles on google of the best franchises to own of 2020 under the price of around $25,000 compared to about $1 million-plus prices for popular franchises. which is really affordable. 7 Eleven is a convenience store usually found alongside a gas station: a 2 in 1, a genius because of double the profits, which is why 7 eleven comes in at number 9 with a price tag of $47,100-$1.2 million. McDonald's, Image credit: Find your ideal franchise today and become the boss your were always meant to be! In 2018, it was acquired by Inspire Brands for $2.3 billion, placing it within the same corporate family as Arby’s and Buffalo Wild Wings. Top 20 Tips on When to Sell Your Business, Top 20 Christmas Business Promotion Ideas. A donut lover needs a reliable, well known, and frankly a company that makes good donuts. Initial Investment:$123,150 3. They have everything at your fingertips, and generally, McDonald’s rules the fast-food industry. Your email address will not be published. While a six-figure price tag is certainly a huge investment, The UPS Store represents the most affordable option among the top five — even the top ten — entries in the Franchise 500. Related: The Top 5 New Franchises to Keep Your Eye On, Initial franchise cost: $110,300 to $234,400. While the franchises listed above are almost a guarantee of success, they require significant financial input and management experience that you might not possess. So, even as the domestic market grows more crowded than ever, international business has allowed the Hut to thrive. 86 in 2019, Palm Beach Tan takes the final spot in our top 20 rankings. Great Clips, Image credit: Franchises offer excellent flexibility, great brand-recognition, help from industry veterans and much more. To pick up the best new franchises to own, check what the franchisor offers you. The 50 Most Popular Franchises Of 2020: Our Most Popular Franchises to Buy & Own. Related: 5 of the Best Fitness Franchises You Can Buy. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else. 1. Either they take care of kids or pets, they are ready to spend money on the best conditions, food, hygiene items and services to make the life of their loved ones comfortable. Pizza Hut announced in August that it planned to close 500 of its U.S. dine-in restaurants, but in the past three years, it’s also opened thousands of international franchises. Updated October 8, 2020. Initial franchise cost: $263,600 to $844,500. Best in Category: Home-Based Franchises; Hard Bean Coffee. Alright, now that we’ve covered the basics of what a franchise business really is, talked through some of the pros and cons, and defined all of the key phrases you’ll need to be familiar with, let’s dive into our picks for the best franchise businesses of 2020. It appears that the company is betting on tech solutions and platforms that can optimize speed of service and make an already-fast place more accessible than ever. Jersey Mike's, Image credit: The Cheapest Franchises. Initial franchise cost: $286,000 to $2.1 million. Related: 5 Tech Franchises You Can Start Now for as Little as $25,000, Initial franchise cost: $56,000 to $426,300. This is not as affordable as the agencies above; however, Kumon is well known in the tutoring industry. For a business that’s been around for over 60 years, Sonic certainly seems focused on the future. Wondering about the best franchises for 2020? Therefore, many people are loyal to Dunkin Donuts, and as such, is a good investment with the cost of it being $395,500-$1.6 million. The 39 Best Franchise Opportunities to Buy & Own in 2020. We have here the most comprehensive database of franchises in the country — complete with useful information such as franchise fee, application requirements, and contact details of your favorite franchises. The fact of the matter is that franchises are expensive but, do not fret; there is such a thing as what is deemed as cheap franchises and the best franchises to own. Among the most trendy franchises of 2020 year are fitness, restaurant, beauty salon, retail and food. We believe the best franchises have a combination of the following features: low-cost, low failure rate, easy to learn, include quality training, and brand strength. Number of Franchises:1,000+ 4. This franchise is relatively known; therefore, it wins in the affordability category and popularity and familiarity. It is popular and trustworthy for parents to send their children to advance in their education and receive the help they need. Baskin-Robbins, Image credit: There are articles on google of the best franchises to own of 2020 under the price of around $25,000 compared to about $1 million-plus prices for popular franchises. This year, the company is preparing to deliver a new brand logo. “One, the franchisees are happy, and two, they’re profitable enough to be investing back into their brand.”, Related: 5 Franchises You Can Buy for Less Than $18,000, Initial franchise cost: $1.97 million to $4.7 million. How is a company like McDonald’s, with a staggering 38,000+ units already in place, supposed to keep growing? This is really a timeless question in the franchise world. There are incidents that hidden costs and fees hamper the financial calculations. * Fair warning the costs will only increase from here for the other franchises. Coming in at a controversial ranking of number 13, which is known as bad luck here in Canada, is McDonald’s. However, Dairy Queen, yes, is popular and well know, which is a good thing but, it as far as “affordability” is at the cost of $1.1 million-$1.8 million. These 20 franchises start the new decade atop our Franchise 500 list. Like tasty as Ice Cream, Baskin Robins costs $93,600-$401,800, At number 14 is KFC, which is also a very well-known fast-food chain. When you buy into a franchise, you’re receiving all of the tools needed to make the business a success—branding, business systems, contracts, and support. Invest at your own … It’s a Franchise thing. Below you'll find the Top Franchises for 2020 as ranked by Franchise Gator in our annual Top 100 list. We've carefully combed through hundreds of Franchise Disclosure Statements (FDDs), conducted interviews, and then ranked the top franchises for 2020 using several key factors. In the past two years alone, Tropical Smoothie Cafe has added 186 franchises, representing a 31 percent increase in units. The cool thing about franchising is there are always exciting new opportunities becoming available that tap into new trends, technologies, demands, and tastes! And in Number two, like Dream Vacations, Cruise Planners is also known for its home-based model. As for familiarity, it’s a number 2, but for affordability, KFC is at number 14 as it costs. Entrepreneur Magazine ranks The UPS Store as the 5th best franchise on its Franchise 500 list for 2020, behind powerhouses like Dunkin’, McDonald’s, and Taco Bell. oatawa | Getty Images. It’s what the best franchise to own is made up of. Initial franchise cost: $246,500 to $580,500. Like I said, familiarity, comfort, and routine. Not only is it constantly updating and changing its menu, but Sonic’s focus on analytics (gathered through its new order-ahead app) helps it find just the right offer for every customer. It is a home-based travel agency that is at an affordable price of $3,245-$21,850. Normally, we as humans, in this century, are filled with an unexplainable joy when we receive a package in the mail. As humans, we obviously love to save money, but we also love to make money. However, Ace continues to focus on its in-person customer service, too, which includes its acquisition of Denver-based franchise Handyman Matters. Entrepreneur Store scours the web for the newest software, gadgets & web services. Entrepreneur Media. The popularity of pet franchises is due to the need of people to take care for someone. And while most of the businesses on this list are focused on the future, UPS is just as focused on returns. Your email address will not be published. Known as the girl in red, no red riding hood but just as adventurous to our taste buds, Wendy’s is Number 8 in rank out of the other fast food Franchises. Rankings and Ratings of Best Franchise Opportunities, Best Overall Franchises, Best Franchising Opportunities. Explore our giveaways, bundles, "Pay What You Want" deals & more. 17 in 1980 and ranking No. Cutting its way through to number four is Great Clips. Who knows where Sonic will go next, but you can be sure that it won’t stay still. In particular, Ace’s online sales in the third quarter of 2019 rose 81 percent after the company began offering customers the ability to have their orders delivered at the nearest store. It is why brands are a thing. Ice cream is a critical lifestyle choice. Dairy Queen, Image credit: What exactly is a franchise? Last year was the 40th anniversary of the Franchise 500, and Dairy Queen was one of only a handful of companies to rank in at least 95 percent of our lists since 1979. “That’s telling you two things,” Jersey Mike’s COO Mike Manzo told Entrepreneur. McDonald’s is one of the best food franchises to own in the world. Somehow, this marks the first time Dunkin’ has earned the top spot in our list, despite debuting at No. The key to the sub-sandwich franchise’s growth has come from its existing franchisees opening more stores. Amplify your business knowledge and reach your full entrepreneurial potential with Entrepreneur Insider’s exclusive benefits. Initial franchise cost: $498,300 to $802,400. Initial franchise cost: $357,000 to $2.2 million. 45 business on the Franchise 500. Depending on where you go for your coffee or dinner out, you probably support at least a few local franchises. The most comprehensive list of today’s top franchises based on feedback from over 27,500 franchisees from 307 of today’s leading brands. 6 on the Entrepreneur Franchise 500 list, but when you think about Ace, you should instead consider the number 16. Today, it’s ranked second in large part due to the growth the company has seen in the interim. Here Are 5 of the Best You Can Buy. Coming in the first place is Dream Vacations. Entrepreneur has been ranking the top 500 franchises in America for 41 years. In our list, we are focusing on those with the best ROI and growth potential based on historical facts and projected trends. Despite the fact that the ice-cream franchise has been around since the 1940s, Baskin-Robbins continues to grow, adding 180 units over the past two years. The fact of the matter is that franchises are expensive but, do not fret; there is such a thing as what is deemed as cheap franchises and the best franchises to own. Rising all the way from No. 5 Low-Cost Franchises You Can Start for as Little as $4,000, Start Your Own Freelance Writing Business, The 5 Top-Ranked Restoration Franchises You Can Start. Who doesn’t like a good smoothie, whether you are trying to be healthier or crave a smoothie? Budget Blinds, Image credit: Here are 55, Initial franchise cost: $136,900 to $259,400. 2020 Franchise Trends: Hot Franchise Trend #1. “We don’t have pools, we don’t have classes, we don’t have instructors to pay,” Planet Fitness CEO Chris Rondeau told the magazine. Irvine, Calif.-based window coverings franchise Budget Blinds finished 35th a year ago in our Franchise 500 rankings but took a big step forward in 2020. AskMrFranchise.com offers information on many of the best franchises to own for 2020. Based on the number of inquiries each of these franchise and business opportunities received, we have compiled this list of the 50 best franchises to buy and own.The economy is thriving in 2020. That is what UPS comes in at number 6, with a cost of $138,400-$470,000. What makes 7 Eleven different from other convenient stores? Buying a franchise may be a better option than starting your own business outright. Kumon Math & Reading Centers, Image credit: Regions Served:All of United States, and some international 5.