Skip to headerSkip to main contentSkip to footer
Get our Free E-newslettersGet our Free E-newsletters
Kiplinger logoLink to homepage
Get our Free E-newslettersGet our Free E-newsletters
Subscribe to Kiplinger
Subscribe to Kiplinger
Save up to 76%
Subscribe
Subscribe to Kiplinger
  • Store
  • Home
  • Investing
  • Retirement
  • Taxes
  • Personal Finance
  • Your Business
  • Wealth Creation
    • Podcasts
    • Economic Outlooks
    • Tools
    • Kiplinger's Personal Finance Magazine
    • The Kiplinger Letter
    • The Kiplinger Tax Letter
    • Kiplinger's Investing for Income
    • Kiplinger's Retirement Report
    • Store
    • Manage My E-Newsletters
    • My Subscriptions
Skip advert
  • Home
  • business
business

8 Great Franchises

Want to be your own boss but wary of the risk involved?

by: Neema P. Roshania
February 28, 2013
Skip advert

Want to be your own boss but wary of the risk involved? Consider a franchise, where you can be an entrepreneur with the comfort of having a tried and tested business model and corporate support.

Finding the right franchise for you is key, so do some research first: Connect with existing franchisees to learn more about their experiences and to ask for their advice. Conduct market research to make sure there's customer demand. Comb the fine print of the contract with your franchisor, especially financial terms, so there are no surprises later. (For more, read Jump-Start Your Career With a Franchise.)

Uncle Sam has extended a helping hand, too: A Federal Trade Commission rule put into effect in 2012 requires franchisors to provide potential buyers with the company's basic information, any legal action taken against the company in the past ten years, the contact information of at least ten franchisees and confirmation of any earnings claims made.

Here are eight franchises with high franchisee satisfaction, low startup costs, and innovative solutions for both consumers and businesses. Please have a look:

Skip advert
Skip advert
Skip advert

1 of 9

Brightway Insurance

Courtesy Brightway Insurance

Skip advert
  • Service: Property insurance

    Number of U.S. franchises: 108

    5-year growth: 414%

    Net worth needed: $150,000

    Franchise fee: $60,000

Franchisees offer coverage for homes, cars and businesses as well as life insurance. Franchises work regularly with headquarters, which handles all customer service and accounting. The company currently operates in 17 states and offers a 50% discount on the franchise fee for potential franchisees interested in operating in a state where Brightway has fewer than five offices. Founded by the Miller brothers, David (L) and Michael(R), the company will fully finance the franchise fee for applicants who are military veterans.

Skip advert
Skip advert
Skip advert

2 of 9

ComForCare Senior Services

Skip advert
  • Service: Nonmedical in-home care

    Number of U.S. franchises: 165

    5-year growth: 75

    Net worth needed: $300,000

    Franchise fee: $39,500

Provides services to independent living communities, nursing homes and hospitals, in addition to in-home care. Services are provided primarily to seniors, but clients also include new mothers and individuals with disabilities.

Skip advert
Skip advert
Skip advert

3 of 9

GameTruck

Courtesy GameTruck

Skip advert
  • Service: Mobile video-game theaters

    Number of U.S. franchises: 70

    1-year growth: 49% (Company has been franchising for less than five years)

    Net worth needed: $150,000

    Franchise fee: $19,500

GameTruck brings video-game theaters to birthday parties, office events, fairs and community get-togethers. Each GameTruck is equipped with flat-screen TVs and a wide range of video games and operating systems. Corporate support includes a customized marketing plan based on location, training in the proprietary reservations and IT system and a course at headquarters to learn from existing franchisees and support staff.

Skip advert
Skip advert
Skip advert

4 of 9

Just Between Friends

Courtesy Just Between Friends

Skip advert
  • Service: Children's and maternity consignment sales

    Number of U.S. franchises: 127

    5-year growth: 123%

    Net worth needed: None

    Franchise fee: $12,900

Just Between Friends franchisees set up consignment events in their territory to connect families who have young children to sell gently used toys, baby equipment and children and maternity clothing. Territories are organized by zip code.The home-based model is mom friendly, and 95% of franchisees are women.

Skip advert
Skip advert
Skip advert

5 of 9

Mr. Appliance

Courtesy Mr. Appliance

Skip advert
  • Service: Appliance repair in your home

    Number of U.S. franchises: 148

    5-year growth: 8.5%

    Net worth needed: $100,000 (with exceptions)

    Franchise fee: $27,000

The business, which can be run from the franchisee's home, provides full-service residential and light commercial appliance repair. The largest North American appliance-repair franchise has been ranked among the top home-service franchises by Entrepreneur magazine.

Skip advert
Skip advert
Skip advert

6 of 9

Sit Means Sit

Courtesy Sit Means Sit

Skip advert
  • Service: Dog training

    Number of U.S. franchises: 70

    1-year growth: 40% (Company has been franchising for less than five years)

    Net worth needed: $50,000

    Franchise fee: $15,000

Sit Means Sit trains pets by using electronic collars that allow trainers to get a dog's attention without punishment or cruelty. The company began franchising in 2009 and is mainly looking to expand in metropolitan areas. Corporate support includes help with branding, advertising and sales training as well as monthly conference calls and annual seminars. The franchisor teaches a dog training course monthly at their headquarters in Las Vegas, where they work with area shelter dogs.

Skip advert
Skip advert
Skip advert

7 of 9

Sport Clips

Courtesy Sport Clips

Skip advert
  • Service: Haircuts for men and boys

    Number of U.S. franchises: 1,000

    5-year growth: 100%

    Net worth needed: $300,000

    Franchise fee: $49,500 for a three-store license

     

    As iconic barbershops fade away, Sport Clips is looking to fill the void with straightforward haircuts tailored to males The franchise grew steadily through a tough economy and expects to open 225 stores in 2013. It looks for good managers with solid business experience and strong leadership skills —who don't necessarily have to have a styling background. Franchisees must sign up for a minimum of three licenses.

Skip advert
Skip advert
Skip advert

8 of 9

Young Rembrandts

Courtesy Young Rembrandts

Skip advert
  • Service: Art classes and workshops

    Number of U.S. franchises: 82

    5-year growth: 33%

    Net worth needed: $100,000

    Franchise fee: $31,500

Franchisees work with their communities to provide art classes in recreation centers, after-school programs and classrooms. The demand for extracurricular arts education has grown over the past few years as many school districts are forced to cut programming due to tight budgets. Young Rembrandts recently expanded internationally to Canada, South Korea, Germany and the Middle East. The operations can be based in the franchisee's home.

Skip advert
Skip advert
Skip advert

9 of 9

More from Kiplinger

Skip advert

Jump-Start Your Career With a Franchise

Low-Cost Franchises for Hard Times

How to Finance a Franchise

8 Growing Health and Fitness Franchises

Skip advert
Skip advert
Skip advert
  • small business
  • small business
  • business
Share via EmailShare on FacebookShare on TwitterShare on LinkedIn
Skip advert
Skip advert
Skip advert
Skip advert

Recommended

Audit-Proof Your Small Business
small business

Audit-Proof Your Small Business

Eight tips for keeping your business expenses and record-keeping organized.
August 1, 2022
How to Control Your Business Exit
small business

How to Control Your Business Exit

Many business owners reach retirement age only to find they don’t have a viable exit plan. Avoid falling into that trap by getting your company ready …
July 17, 2022
Economic Pain at a Food Pantry
personal finance

Economic Pain at a Food Pantry

The manager of this Boston-area nonprofit has had to scramble to find affordable food.
June 28, 2022
Most-Overlooked Tax Deductions and Credits for the Self-Employed
Tax Breaks

Most-Overlooked Tax Deductions and Credits for the Self-Employed

If you've recently gone into business for yourself, don't miss these tax breaks for the self-employed.
June 11, 2022

Most Popular

Are You Rich? The Answer May Surprise You
personal finance

Are You Rich? The Answer May Surprise You

Whether you are considered rich depends on how you measure it – and the bar for that is changing. Have a look at the numbers that define who's wealthy…
August 12, 2022
Your Guide to Roth Conversions
Special Report
Tax Breaks

Your Guide to Roth Conversions

A Kiplinger Special Report
February 25, 2021
Save More on Green Home Improvements Under the Inflation Reduction Act
Tax Breaks

Save More on Green Home Improvements Under the Inflation Reduction Act

Tax credits for energy-efficient home improvements are extended and expanded by the Inflation Reduction Act.
August 17, 2022
  • Customer Service
  • About Us
  • Advertise With Us (PDF)
  • Privacy Policy
  • Cookie Policy
  • Kiplinger Careers
  • Accessibility
  • Privacy Preferences

Subscribe to Kiplinger's Personal Finance

Be a smarter, better informed investor.
Save up to 76%Subscribe to Kiplinger's Personal Finance
Do Not Sell My Information

Kiplinger is part of Future plc, an international media group and leading digital publisher. Visit our corporate site www.futureplc.com
© Future US LLC, 10th floor, 1100 13th Street NW, Washington, DC 20005. All rights reserved.

Follow us on InstagramFollow us on FacebookFollow us on TwitterConnect on LinkedInConnect on YouTube