The answer to the question, ‘What are the best franchises for sale uk to invest in right now?’, rests on a number of things that you need to consider when taking the franchise route to self-employment. Or, when you are expanding your existing entrepreneurial activities. Of course, the most obvious thing that influences this consideration is finding franchises in current growth sectors, though you could also look for ones with a strong track record for success.
This article about the best current franchise opportunities will explore both of these factors, as well as other features of franchising that can help you to find the ideal investment for you.
Riding the wave of buoyant industry sectors
To optimise the investment you make in a franchise, a good starting point is finding ones in areas of high business growth.
Currently, many of the fastest-growing sectors globally are being impacted by the pandemic. So, for instance, tourism is currently enjoying a massive resurgence worldwide as countries reopen. This can make hotel and travel service franchises attractive. Similarly, as post-COVID and STEM jobs vacancies are such a hot topic, recruitment service and HR-related franchises could be a wise investment.
Some growth sectors pre-date the pandemic but may have accelerated as a result of lockdowns. For example, beer manufacturing showed global revenue growth of 11.3% in 2019-2020. This suggests franchises in alcohol production or supply may offer an exciting promise of good returns.
Management consultancy franchises, and other options in B2B services, may also offer great potential too, as companies are increasingly subcontracting to battle their way out of economic uncertainty.
No list of the fastest-growing franchise sectors could fail to include e-commerce related ventures, of course! Everything from van-based franchises to do home deliveries, to product distribution franchises for big brands, can cash in on massive worldwide demand for door to door purchases.
Lastly, health and social care franchises are also increasing in significance, as the world population ages and government provision fails to keep pace.
Going for the biggest franchisors
Another way of answering the question about the best franchises to invest in is to search a global franchise directory for the longest established brands.
The top franchisors worldwide, who have a significant track record for supporting new startups, clearly have a business model that works and good location awareness. However, you will see that this list is skewed largely towards fast-food franchises.
If this is a sector that appeals to you, opportunities exist to open multiple food franchise sites, which could potentially be an exciting investment opportunity for you.
Your aims and expectations
This is where every individual’s perspective of the best franchises to invest in will differ. Much depends on your experience, skills and interest in specific business areas. Also, your aims and expectations for what you want to get out of this start-up or expansion of your business interests.
For instance, there are now many low-cost franchise opportunities. This can be highly significant if your available capital is restricted, and you want to find a franchise package to match, that promises substantial or quick returns. This is sometimes the case for people looking for home-based franchises, or ones with minimal need for equipment and vehicles for instance. These can be perfect to mould around family commitments, or a desire to limit the time you invest in a franchise.
At the other end of the spectrum is high-end businesses, with large capital investment involved, that could achieve considerable profit levels, such as luxury goods franchises, or those involved in global hospitality.
Best franchise on your ‘doorstep’
The best franchise for you to invest in may even simply be one with the greatest chance of success in your locality. This would require you to research opportunities in a target location, then find a way to plug a community or business need.
An illustration of this is opening a gym franchise if local fitness provision is lacking. This also doubles as a growth sector generally, as people are more willing to invest in their health at present. Another example would be launching an education-related franchise in an area where ambitious parents are concerned about their children’s academic status.
Cleaning franchises can also take off and grow quickly, in locations where there are lots of working parents and elderly people, and insufficient private cleaning services to cope with demand.
Evaluating the best franchises
There is one final consideration when deciding the best franchises to invest in right now.
Even if you work your way down the top-performing franchisors, in exciting global growth sectors, you must study each potential franchise agreement carefully. Whether you are investing in a small start-up with low capital commitment, or a world-famous management franchise, your working relationship with your parent company is crucial.