Franchises, Big or Small, Offer Lucrative Return on Investment
The concept of passive income has shown to be a very lucrative investment. Business franchises are a growing trend among passive income opportunities. This is especially true for retail, food, or services companies, which cater directly to consumers. A business broker keeps on top of the opportunity that an established name can bring.
Big Name Businesses
Some of the best franchises to own include McDonald’s, Re/Max, UPS Store, 7-Eleven, and Dunkin Donuts. These are big name companies that also require a lot of money to buy the rights to a franchise. To have a McDonald’s store, you would need a sizable investment in land, buildings, and facilities. There are other franchises that need only a small investment but have a big potential return on investment.
Small Business Opportunities
Among the other businesses that require a smaller investment are children’s services. These include preschool education, art classes, tutorial services, fitness, and sports. Home renovations and repairs services are also another lucrative small business for franchising. These include plumbing services, locksmith services, carpentry and remodelling.
Bike sales, rentals, supplies, and services are also a growing industry. These may be niche, but due to the growth of the fitness industry, there are a growing number of cyclists. Senior care and hospice services are also growing in numbers. Caregivers are no longer limited to individuals providing services. The industry has branched out and includes assisted living and hospice care.
Franchising is an easy way to break into an industry. There are lots of opportunities, not only for big name franchises but also for small businesses with individual services. These small businesses need as much dedication, but a smaller capital to start. These also have a good return on investment.