The Best Franchise Opportunities all Share Something That Sets Them Apart
You are ready to stop being an employee and become an employer, or maybe you’re looking for a way to supplement your income through entrepreneurship. No matter what your reason, you are ready to become a business owner, and you’re drawn to opening up a franchise. Determining the best franchise opportunities for you might take some time, but we can help!
It’s a great decision! Owning a franchise is proven to be far less risky and more likely to be successful than opening a business up from scratch. You are already starting with name recognition, and the best franchise options provide support to ensure you get started on the right foot.
But you’re looking at Entrepreneur’s 2018 franchise ranking list, and you see that many of them require hundreds of thousands of dollars in start-up costs! You immediately feel shut down and think there’s no way you can open a franchise.
Don’t despair! We’re going to look at what some of the best franchise opportunities have in common so you can discover which one is right for you and get the ball rolling toward becoming a business owner.
The Product or Service Offered
Before you think about the costs or locations or the other aspects of which franchise you should open, first look at the product or service the franchise offers. Is this something that has longevity as times change or will it go out of business with technology, such as Blockbuster Video? Does this franchise offer something people want or need?
Mag-nificent Photo Events offers event services that elevate weddings, conferences, parties, and so much more. The event services industry is growing rapidly and generating over $280 billion a year in spending-based revenue, so we are part of an exciting, thriving industry. With on-site photo printing and customizable frames, guests can enjoy immediate souvenirs to take home, and we are growing with technology through our proprietary Mag-nificent Photo App, elevating the traditional photo booth and on-site photographer.
Start-Up Costs
Along with providing a service or product that people want, the best franchises for entrepreneurs starting out offer low start-up costs – this includes not only the cash to start the business but also any franchise fees, marketing, etc. While McDonald’s requires over a million to get started, many incredible franchises can launch for less than $50,000.
Even better, these lower-cost franchises run on lighter staff and can be run from a home office, making the on-going overhead (and stress!) low and manageable.
Mag-Nificent makes it affordable to become a franchise owner with start-up costs averaging less than $35,000! This includes all your equipment, fees, and cost of doing business, so the initial investment for what you get is low.
Location and Market Saturation
While some franchises do well with having multiple locations in a small area, such as 7-11, in many services, having too many franchise locations is generally not sustainable. Numerous franchises in one area harm everyone and eventually, several, if not all, are forced to close. The best franchises understand that market oversaturation is detrimental to success.
Because Mag-Nificent is mobile (we go to the event!), we actually don’t assign our owner-operators a territory. Instead, we help define your Protected Marketing Area with a population of up to 500,000 people (with an option to expand). This area is yours to promote and market your Mag-Nificent franchise, and you also have the option to provide service to events outside your area and market in adjacent areas when there isn’t an established franchise.
We protect want every Mag-Nificent franchise to thrive, and we know that rests in finding that perfect balance of providing service without creating competition within our own businesses.
Get Started With Mag-nificent Franchise!
Ready to follow your dreams of becoming a business owner? Download our opportunity summary and learn more about how opening a Mag-Nificent franchise can turn your dreams into reality.
