Within the past few years, we have seen a drastic change in the franchise industry. This is mostly because of how popular delivery services have become and the rise of new technology.
The franchises that have been the most successful and will be most successful in the future are those that can offer convenience to its consumers. In addition to convenience, franchise stores must be able to adapt to new technology and delivery services.
Perhaps the most popular question we receive from our clients is “what is the best franchise to own?” This is a tricky question because there are thousands of franchise opportunities out there, and it really depends on what type of franchise you are looking for, how much you are planning to invest, and how it fits with your lifestyle.
With that being said, there are many restaurants out there with outstanding performance that generate tons of revenue each year. Here are the top 10 best franchises to own in 2020 based on growth, sales, and affordability:
America really does run on Dunkin…This year Dunkin Donuts has earned the top spot on the list of best franchises to own. As a matter of fact, Dunkin Donuts has been on The Franchise 500 list since the 1980s. Dunkin Donuts has been a close second for quite a few years now, but as it moves to the #1 spot, now is the time to own a Dunkin!
Taco Bell is a franchise that has been around for decades. Just a decade ago it was ranked No. 45 on the Franchise 500. Today it is at the top of the list due to the company’s recent growth, and we don’t expect it to slow down any time soon.
This fast-food franchise has seen sales grow by 8% since 2018. The Taco Bell franchise is also quickly adapting to delivery because of the high demand for delivery services such as Grubhub and Uber eats. Because they are adapting so great to the demands of consumers, we expect their business to remain strong in the coming years.
Almost everyone in the U.S recognizes a McDonald’s franchise when they see one. You might be wondering how this franchise continues to grow with nearly 40,000 locations in place, but it seems to be that they are more successful than ever before. McDonald’s recently made a $10 billion investment in technology. And to top it all off, they report filling TEN delivery orders every SECOND. McDonald’s remains one of the best franchises out there to own.
Sonic is another business that has been around for decades- over 60 years to be exact! Sonic is one of the best franchises to own in 2020 because they are so focused on the future. Sonic has been known to change their menu and bring in new items by consumer demand. They also focus heavily on data analytics which means they know their customer, what they want, and how to market to them.
The UPS Store
With how popular online shopping and delivery is, it’s no surprise The UPS Store is one of the best franchises to own in 2020. Did you know that a third of all online deliveries are returned? The UPS Store caters to all those that need to make returns.
Additionally, this franchise is one of the most affordable to own! It only requires a six-figure investment while most top franchises cost over a million dollars.
Did you know that 75% of the U.S population is within 15 minutes of an ACE store? ACE is one of the best franchises to own because they are another business that is able to cater to the online world. ACE hardware’s sales have skyrocketed from $16 billion in sales last year since it started offering online orders and pick-ups in 2019.
With a membership of just $10 a month, it is no surprise that Planet Fitness is one of the top franchises to own. Planet Fitness memberships have doubled within the past 5 years from 7 million to nearly 14 million people.
CEO of Jersey Mikes, Mike Manzo, has stated that by the end of 2020, he has a goal for there to be 2,000 locations and $2 billion in system-wide sales. The franchise is well on its way to reach that goal and because of their growth, they are one of the best franchises to own!
Originated in Wisconsin, this brand is quickly expanding to other areas in the US. Culvers has one of the top training programs out there for their franchisees which has resulted in nothing but success for the franchise. With nearly 1,000 units in the U.S, this fast-growing franchise is one of the top franchises to own in 2020!
Who doesn’t love wings? There is a reason why Wingstop refers to themselves as the “wing experts” they have the concept down, that is for sure! Their hand-cut fries, homemade dressings, and unique flavors really do make them the “wing experts!”
Not only is their food phenomenal, but they have quickly adapted to delivery services such as Doordash. Wingstop also has plans to make some huge investments in technology in the near future to make their operations more successful.
Find The Perfect Franchise Fit
So, there you have it! The top franchises to own in 2020! At Hundred Acre Consulting, we want to make sure that our clients find the best investment opportunity that is the perfect fit for them.
Many times, our clients come to us with only one franchise that they are interested in. We want our clients to consider several opportunities because there are thousands of franchise concepts out there. This means the perfect fit for you is out there!
Want to learn more about the top franchises out there? Our team at Hundred Acre Consulting is here and ready to help!