Although some may argue that Wendy’s is not the most popular out of other fast-food franchises, it is still well known, and it is, believe it or not, the most affordable out of the other chains. By the end of 2020, Jersey Mike’s wants to have 2,000 restaurants and $2 billion in system-wide sales. Initial franchise cost: $263,600 to $844,500. Related: 5 Low-Cost Franchises You Can Start for as Little as $4,000, Initial franchise cost: $138,400 to $470,000. 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. Dunkin Donuts is not only reliable, well known, but also tastes good. We use a five-pillar system to evaluate the hundreds of entries we receive every year. Browse Through The Best Franchises To Own Today! Usually, with popularity comes income; customers like things they know. Initial franchise cost: $1.2 million to $3.5 million. The majority. Your email address will not be published. Like all of our articles, this is not financial or business advice. 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. Related: 100 Franchises You Can Start For Less Than $50,000, Initial franchise cost: $47,100 to $1.2 million. 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. 17 in 1980 and ranking No. Sonic Drive-In, Image credit: Who doesn’t like a good smoothie, whether you are trying to be healthier or crave a smoothie? Required fields are marked *. Entrepreneur Store scours the web for the newest software, gadgets & web services. Not to mention that it’s home-based, which is a win-win for everyone. Baskin-Robbins, Image credit: Like I said, familiarity, comfort, and routine. In this case, you are a human who is probably looking for the best franchise to own, here are the top 15 best franchises to own in 2020: “affordability” and popularity edition. That is what UPS is like, a friend. The best franchises to buy in 2020 range from low-cost options to high-end, established nationwide brands. To pick up the best new franchises to own, check what the franchisor offers you. Number of Franchises:1,000+ 4. Related: Low Cost Business Ideas, How to Start a Small Business, Initial franchise cost: $93,600 to $401,800. Welcome to our list of the best small business opportunities for 2020, chosen from across a variety of industries. According to the company, 75 percent of all U.S. homes are within 15 minutes of an Ace store, and the retailer managed more than $16 billion in sales last year. McDonald's, Image credit: Yum. People know it, and people buy it from it. Normally, we as humans, in this century, are filled with an unexplainable joy when we receive a package in the mail. “That’s become a very attractive business segment for us.” That doesn’t mean The UPS Store is a retrospective business: It’s actively signed deals to be the official return courier for several major retailers, and one of its biggest changes is obvious before you ever set foot inside the store: Blue, white, and yellow have been added to the company’s traditional brown palette as The UPS Store considers a new store concept. The key to this growth, as the newest issue of the magazine points out, is the company’s focus on convenience, which includes a POS system directly integrated into the Grubhub app and 4,800 U.S. location offering delivery. Hard Bean Coffee offers a complete, turnkey package to help you launch your own coffee café. Like tasty as Ice Cream, Baskin Robins costs $93,600-$401,800 and comes in as number 5. The most comprehensive list of today’s top franchises based on feedback from over 27,500 franchisees from 307 of today’s leading brands. Save my name, email, and website in this browser for the next time I comment. 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. 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. This year, the company is preparing to deliver a new brand logo. 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. Kumon is a tutor franchise based in Japan, although it is known in North America. It is popular and trustworthy for parents to send their children to advance in their education and receive the help they need. This is not as affordable as the agencies above; however, Kumon is well known in the tutoring industry. Interested in starting a franchise in 2020, but don’t know where to start looking? The cost to start up this franchise is $73,400-$154,800. Related: 5 of the Best Fitness Franchises You Can Buy. That sort of growth helps it earn the top spot in the real estate category for 2020. 1. Baskin-Robbins might not have finished quite as high as its Dunkin’ Brands partner, but No. It’s a human thing. Getting into the most important information you may want to find out; buying a McDonald’s franchise will require an initial investment ranging from $1,008,000 to $2,214,080. Copyright © 2020 Entrepreneur Media, Inc. All rights reserved. The best franchises for new business owners are those they can start small and grow big. Much of it comes from the Berkshire Hathaway inspired motto: Protect the brand for today, but grow it for tomorrow. 2020 Franchise Trends: Hot Franchise Trend #1. In the past two years alone, Tropical Smoothie Cafe has added 186 franchises, representing a 31 percent increase in units. Who knows where Sonic will go next, but you can be sure that it won’t stay still. The supplemental education franchise might not be a household name domestically, given that only around 6 percent of its units are located in the United States, but Kumon has been a mainstay of the Franchise 500, finishing in our top 20 rankings each of the last three years. Related: The Top 5 New Franchises to Keep Your Eye On, Initial franchise cost: $110,300 to $234,400. Tropical Smoothie Cafe, Image credit: While the franchises listed above are almost a guarantee of success, they require significant financial input and management experience that you might not possess. 1.” That’s the sort of energy we could all use in the New Year: letting go of the things holding us back and continuing to both grow and innovate. Lastly, at number 15 but also very popular, is Taco Bell. Initial franchise cost: $525,500 to $2.96 million. The cool thing about franchising is there are always exciting new opportunities becoming available that tap into new trends, technologies, demands, and tastes! Explore our giveaways, bundles, "Pay What You Want" deals & more. Packing and Shipping Companies Are More Important Than Ever. Jersey Mike's, Image credit: It’s also familiar, and people are attracted to familiarity. 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. The 5 Top-Ranked Franchises You Can Buy for as Little as 5 Figures, The Top 11 Companies in the Franchise 500, Ranked From Cheapest to Most Expensive, 24 Top-Ranked, Affordable Franchises You Can Buy for $25,000 or Less. Speaking of convenience stores, usually, they sell sweets, including donuts, and donuts are a delicacy, some will argue, at least. 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. Ace Hardware, Image credit: Smoothie King, Image credit: 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. Initial franchise cost: $237,400 to $766,970, By the end of 2020, Jersey Mike’s wants to have 2,000 restaurants and $2 billion in system-wide sales. Do you want to know what the top franchises for 2020 are? 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. “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. Pizza Hut, Image credit: Cutting its way through to number four is Great Clips. Those five pillars (in no particular order) are: Every year, the competition grows thicker and thicker as new businesses create compelling cases and the old-school, established ones keep innovating. Coming in at a controversial ranking of number 13, which is known as bad luck here in Canada, is McDonald’s. For a business that’s been around for over 60 years, Sonic certainly seems focused on the future. 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. It’s due to familiarity, which brings a sense of comfort, which is connected to a-familial-kind-of-connection. Not to mention that it’s home-based, which is a win-win for everyone. Great Clips, Image credit: 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. This doesn't mean that your franchising dream needs to be put on hold, though; some of the franchises listed below have an initial investment of less than $500. If you’re looking to find the best franchise business in the Philippines that could potentially make you rich, look no further. It’s a Franchise thing. Here are 55, Initial franchise cost: $136,900 to $259,400. There are incidents that hidden costs and fees hamper the financial calculations. Initial franchise cost: $1.1 million to $1.8 million. 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. They even have a university they call Hamburger University, which takes about 2 years to complete. * Fair warning the costs will only increase from here for the other franchises. Regions Served:All of United States, and some international 5. So far, the program seems to have been a success, resulting in 175 new franchisees. For just $5 per month, get access to premium content, webinars, an ad-free experience, and more! Entrepreneur Media. At number 14 is KFC, which is also a very well-known fast-food chain. As for familiarity, it’s a number 2, but for affordability, KFC is at number 14 as it costs. Which is why Dunkin comes in at number 10. In this unusual post, The Franchise King® nails it with his best franchise picks. Top 100 Franchises Our Annual Top Franchises List for 2020. 92% of franchises are still operating after five years. Related: 5 Affordable Franchises You Can Start for Less Than $10,000, Initial franchise cost: $395,500 to $1.6 million. 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. The popularity of pet franchises is due to the need of people to take care for someone. They have built over 100 independently owned and operated coffee shops across America over the past 20 years. oatawa | Getty Images. Although we already have an ice cream franchise Dairy Queen in this ranking, it is versatile and has other options other than ice cream, and one would argue that Dairy Queen should not have come in at number 11. However, the main focus besides popularity was affordability. What makes 7 Eleven different from other convenient stores? The 39 Best Franchise Opportunities to Buy & Own in 2020. Below you'll find the Top Franchises for 2020 as ranked by Franchise Gator in our annual Top 100 list. 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. Top 20 Tips on When to Sell Your Business, Top 20 Christmas Business Promotion Ideas. Also, people like routine, which is doing the same thing, which is transferred over to the shopping mentality, so people enjoy the same company. Image credit: This is really a timeless question in the franchise world. Deciding what franchise to buy will depend on numerous factors like brand strength, initial investment costs, and more. Initial Investment:$123,150 3. Culver’s key to success? On FranchiseReview, you’ll find a list of the best franchises to buy in 2020 as compiled by AskMrFranchise. Although Dream Vacations is not as popular as other franchises and is not necessarily expected to be number one, per se, it is still well known for an “affordable franchise,” considering that most affordable franchises are not well known. Entrepreneur has been ranking the top 500 franchises in America for 41 years. Ice cream is a critical lifestyle choice. This allows Planet Fitness to charge a basic membership of just $10 a month, targeted at the 80 percent of Americans who don’t have a gym membership. Even better, they love to go to Ice Cream places that are known because usually, those places are reliable to give ice cream that matches their taste buds. The key points the list looks at are the midpoint (average) initial investment, the franchise's growth rate over the past five years, and the number of franchise locations, or franchise units. However, McDonald’s cost is number 13 in regards to affordability, which is at a price tag of $1.3 million-$2.2 million. Unique Benefits:Quick startup, low overhead, patented “Flavorwave” self-serve system Kona Ice is a fast-growing food truck franchise that … 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. 86 in 2019, Palm Beach Tan takes the final spot in our top 20 rankings. It’s what the best franchise to own is made up of. Initial franchise cost: $246,500 to $580,500. Initial franchise cost: $357,000 to $2.2 million. “That’s telling you two things,” Jersey Mike’s COO Mike Manzo told Entrepreneur. Related: The 5 Best Burger Franchises You Can Buy (and How Much They Cost), Initial franchise cost: $1.1 million to $4.2 million, It’s fitting that a fitness franchise should run so lean. Seriously, people love good ice cream. Initial franchise cost: $498,300 to $802,400. They have everything at your fingertips, and generally, McDonald’s rules the fast-food industry. In our list, we are focusing on those with the best ROI and growth potential based on historical facts and projected trends. Ace Hardware ranks No. Here, we proudly spotlight the best popular, trendy and new franchises in 2020. Wondering about the best franchises for 2020? If you're looking to make an investment in a fast growing business, check out our best new franchises of 2020! 2020 Franchise 500 Ranking: Franchise Information from Entrepreneur.com - Page 1 Stick around while we show you the five best franchises to own in 2020. Related: 5 Tech Franchises You Can Start Now for as Little as $25,000, Initial franchise cost: $56,000 to $426,300. 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. Finding the best franchises in the UK starts right here, with a range of tools to help you narrow the field and make a wise choice. That’s due in part to the company’s growing number of franchises, which has risen almost 10 percent in the past two years. If you are interested in buying a franchise in 2020, you should consider the following hot and trendy franchise investment opportunities listed below. Of course, it might also just be true that Culver’s simply makes a great burger and frozen custard, but hard work never hurts. 11 in the past decade. The problem with that, and it’s nothing against the inexpensive companies, but they are not, unfortunately, popular and are not the best franchise to own. Your email address will not be published. Initial franchise cost: $286,000 to $2.1 million. 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. Each profile lists its investment financials, training, support, structure, & location for you to compare, in order to find the best franchise opportunity fit for you. The Dallas-based Smoothie King franchise ranks atop our list of smoothie and juices franchises, marking a substantial uptick from last year, when it ranked 22nd. Today, it’s ranked second in large part due to the growth the company has seen in the interim. 6 on the Entrepreneur Franchise 500 list, but when you think about Ace, you should instead consider the number 16. Buying a franchise may be a better option than starting your own business outright. A donut lover needs a reliable, well known, and frankly a company that makes good donuts. A little on the expensive side but still fairly affordable, considering it is a familiar brand that people know about and, therefore, actually invest in. Find your ideal franchise today and become the boss your were always meant to be! Therefore, many of these popular franchises cost a few extra bucks, to say the least, but they are a good investment. Related: 24 Top-Ranked, Affordable Franchises You Can Buy for $25,000 or Less, Initial franchise cost: $1.3 million to $2.2 million. 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. 2 in three different decades. Best in Category: Coffee Franchises… 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. Here Are 5 of the Best You Can Buy. The Coppell, Texas-based tanning franchise has opened 95 units since 2017, good for a 21 percent increase. “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. Its cost is as dazzling as a new haircut, which is $136,900-$259,400. Why has the Blizzard-maker been able to enjoy such long-term success? According to Franchise Direct, McDonald’s is actually number 1 on the Global 100 franchises of 2020 and within its’ right because of its McDonalds. Franchises are one of the best businesses to start because they have a high success rate. So, as far as popularity goes, Mcdonald’s is number 1. The convenience store franchise, which was our top-rated business in 2017, hasn’t ranked lower than No. 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. Franchises offer excellent flexibility, great brand-recognition, help from industry veterans and much more. Since 2014, HomeVestors of America has more than doubled its number of franchises across America, rising from 544 to 1,102 in just six years. During a 16-week training program at Culver’s ButterBurger University in Wisconsin, franchisees are asked to do just that, proving no one is above the dirty work. How to Identify the Best Franchises to Own in 2020 . The Cheapest Franchises. A Hair Salon Franchise is well known, especially in the United States. While it’s too early to definitively tell whether McDonald’s $10 billion system-wide store redesign and investment in tech is a success, here’s something to keep in mind: McDonald’s is now filling 10 delivery orders every second. Best in Category: Home-Based Franchises; Hard Bean Coffee. 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. Palm Beach Tan, Image credit: And while most of the businesses on this list are focused on the future, UPS is just as focused on returns. It is a home-based travel agency that is at an affordable price of $3,245-$21,850. Read our complete list of the best franchises to own before making such a critical decision. People rely on, know, and trust UPS to bring them their products safely and efficiently. 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. Related: Need a Business Idea? Budget Blinds, Image credit: However, Ace continues to focus on its in-person customer service, too, which includes its acquisition of Denver-based franchise Handyman Matters. How is a company like McDonald’s, with a staggering 38,000+ units already in place, supposed to keep growing? As humans, we obviously love to save money, but we also love to make money. The evolution of everything creates a constant demand for new franchises in absolutely various business areas. Even though it costs between $357,000-$2.2 million, it is an investment that is worth it, especially if you are looking to buy a franchise in the food industry. Pizza Hut being number 12, is well known for its good pizza quality. Coming in the first place is Dream Vacations. What are the best franchises to own today? While hot companies and sectors change, there are several key characteristics to franchise opportunities that present the best ownership experiences and outcomes. A decade ago, Taco Bell was ranked as the No. Cruise Planners costs: $2,095- $22,867 which is really affordable. Its cost is as dazzling as a new haircut, which is $136,900-$259,400. ... Below are some of the top picks from the best franchises to buy list. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else. The 50 Most Popular Franchises Of 2020: Our Most Popular Franchises to Buy & Own. People know it, and people buy it from it. As for familiarity, it’s a number 2, but for affordability, KFC is at number 14 as it costs: $1.4 million-$2.7 million. What exactly is a franchise? A little on the expensive side but still fairly affordable, considering it is a familiar brand that people know about and, therefore, actually invest in. The UPS Store, Image credit: 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. What is a The Best Franchises to Own? The newest magazine feature for our top-ranked franchise begins, “How Dunkin’ dropped the word Donuts, sold more doughnuts anyway, and rose to No. Image credit: Rankings and Ratings of Best Franchise Opportunities, Best Overall Franchises, Best Franchising Opportunities. We will not even talk about the fact that people go into a restaurant and buy the same meal almost every time. AskMrFranchise.com offers information on many of the best franchises to own for 2020. Also, McDonald’s has training that is well known to be at a high level. Scrubbing floors and picking up garbage in the parking lot. The key to the sub-sandwich franchise’s growth has come from its existing franchisees opening more stores. It is why brands are a thing. New Franchises For Sale 2020. Cruise Planners is a travel agency that helps people book cruises and anything related to travel, such as resorts, flights, and hotels. HomeVestors of America, Image credit: 13 ain’t too shabby. 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. This franchise is relatively known; therefore, it wins in the affordability category and popularity and familiarity. And in Number two, like Dream Vacations, Cruise Planners is also known for its home-based model. 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.