Every major franchise be it Burger King or Taco Bell-started with just one store. But if you buy into an established brand after it's become a household name, the costs can be huge. In general, it can take six to 10 years to get your money back. That's why, no matter what concept you choose to franchise, the best way to make money is to find an emerging brand: a franchise business ready to boom. With an emerging brand, you can see your initial investment returned in just one to three years, and savvy franchisees can then reinvest that freed cash into opening more locations and building a much bigger, much more valuable business.
Although an emerging brand comes with a certain amount of risk, the rewards can far outweigh it. Emerging brands are less expensive to join. Plus, all the prime territories haven't already been taken, opening costs are lower, and better real estate can often be secured. But most important of all, new franchise concepts give franchisees a longer runway to make money.
This story is from the Startups - Spring 2023 edition of Entrepreneur US.
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This story is from the Startups - Spring 2023 edition of Entrepreneur US.
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