Everyone who has considered starting a franchise has probably wondered, what are the 25 best franchises?
No business owner wants to invest their hard-earned money in a franchise that is not a good investment. However, how can you tell if a franchise is highly rated or not? Does a high rating prove that a franchise is a good investment? In general, a high rating is a good starting point for evaluating a franchise, but it does not provide the complete picture. Different sources evaluate franchises with different methods. These are the results of various accredited ratings from different franchises.
Every year, Entreprenuer.com compiles a list of the 500 best franchises. For 2008, the winners are very common household names with the ubiquitous 7-11 leading the top ten.
The top 25 franchises are:
7-11 blinds,
Underground,
Dunkin ‘Donuts,
Pizza Hut,
McDonald’s,
Sonic Drive-In,
KFC,
Intercontinental Hotels,
Dominos Pizza,
ReMax Realty,
Heavens better
FASTSIGNS International,
Sotheby’s Real Estate,
Economic blinds,
CertaPro Painters,
Home instead of elderly care,
Adventures in advertising,
Carlson Wagonlit Travel,
Computer troubleshooters,
The home service of the maids,
1-800-GOT-JUNK,
5 star painting,
Adventures in advertising,
Andy On Call and
Barking busters
This list of the 25 best franchises is highlighted by the size of the parent companies of each of the franchises. Because Entreprenuer.com ranks on financial stability and growth, the largest and most established companies rise to the top of the list. If you are looking for a franchise with a solid track record, you won’t go wrong with any of these companies. Just because a company is highly rated does not mean it is the right company for you; however, if you are not interested in running a fast food franchise or do not have the investment capital to purchase a hotel franchise, none of the names at the top of this list would be right for you.
Another organization, Franchise Business Review, makes its own ranking of the 25 best franchises. In this ranking, franchises are ranked based on the satisfaction of those who actually own the franchises, not on financial or size considerations. Unsurprisingly, this list is very different, with Heavens Best, a cleaning franchise, topping this list. Other top franchises in the top ten on this list are: FASTSIGNS International, Sotheby’s Real Estate, Budget Blinds, CertaPro Painters, Home Instead of Senior Care, Adventures in Advertising, Carlson Wagonlit Travel, Computer Troubleshooters, and The Maids Home Service. All of these companies would be considered smart investments for someone trying to decide which is the highest rated franchise.
Given that two of the best franchise lists share absolutely no common names, how can an investor decide which is the highest rated franchise? There is no answer, what is best for one entrepreneur may be totally wrong for another. To find the one that best suits your needs as an entrepreneur, you need to assess your time commitment, risk aversion, available capital, and most of all, what interests you. No list can tell you which franchise is best for you; it is a decision that you will have to make yourself.