Two of the top five franchises are sandwich shops, but which ones?
Franchising is a great way to start a career that can last a lifetime, but the franchise has to be one that is on solid financial footing.
Entrepreneur Magazine has come out with its annual list of top 10 franchises in the United States, and it is not a food franchise that is ranked No. 1.
No. 1 – Anytime Fitness
Anytime Fitness has almost two million members, a huge amount of growth for a company that started in 2001. Because it is a franchise, the gyms are usually smaller than the mega-clubs, but the gyms are also open 24 hours a day, which works for the clientele it seeks. The company does a good job of training its staff in customer service and keeping the stores vibrant. Personal trainers are themselves trained in the art of customer retention.
No. 2 – Hampton Hotels
Hampton Hotels have been around since 1983, but today it is one of the best affordable hotel chains in the country. With almost 2,000 locations, the hotel offers a high degree of cleanliness along with a free breakfast and an innovative money-back guarantee. Hamptons are opening now in international sites and has also expanded into 14 new states in the U.S. A Hampton franchise requires an investment of at least $3.5 million.
No. 3 – Subway
Subway will celebrate its 50th anniversary in 2015, and currently has almost 40,000 locations to help with the celebration. It requires an $85,000 minimum investment, but with it comes one of the largest advertising budgets in franchising. The company has vastly expanded its international footprint, and is also making inroads in non-traditional settings such as on-campus stores, and in conjunction with healthcare facilities. Subway is also pushing its breakfast menu.
No. 4 – Supercuts
With over 2,300 locations, Supercuts has moved up the ladder after a revamped franchising program that brought on 120 locations in 2013. Supercuts managers and owners are not required to be hairdressers; instead they are business managers with an eye for solid employees. Also, the company employs its own nationwide training staff which works with employees on customer service and technical skills.
No. 5 – Jimmy John’s.
With over 1,800 locations, Jimmy John’s is the No. 2 sandwich-making franchise on the list. Founded in 1983, the company changed its fortunes when it created a business model built on discipline and efficiency. Its limited menu of sandwiches, chips, cookies and pickles works, and Jimmy John’s made the jump in 2013 from the No. 12 franchise to No. 5. The investment required starts at $300,000 and increases to over $800,000 depending on location.
Ranked sixth through 10th are 7-11, ServPro, Denny’s, Pizza Hut and Dunkin Donuts.
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.