SAN DIEGO, Jan. 9, 2013 /PRNewswire-iReach/ -- There are many people who are looking for the top 10 franchises 2013 has to offer. Many of these people are those who have decided to take their financial futures into their own hands by starting their own business rather than relying on traditional employment, which is not as secure as it was once thought. With millions of people being laid off and others having their work hours cut back, the appeal of being a business owner and basically being "the boss" has been growing steadily.
Franchises have been a popular choice for many because they have been tried and proven and the business model is already in place for anyone who wishes to utilize it. They also provide brand recognition; something that can take years and a very large monetary investment for a new business to achieve. This is why there has been so much interest in the top 10 franchises 2013 has in store.
So far, the most popular franchise ideas are those that fall into the fast food, personal care, hotel and convenience store categories. The following are the top 10 franchises 2013 has to bring according to the Franchise 500 list.
- Hampton Hotels
- 7 Eleven
- Days Inn
- Denny's Inc.
- H & R Block
- Pizza Hut
- Dunkin' Donuts
These are the fastest growing franchises in the United States, and growth is predicted to continue in the year ahead.
Those that are interested in investing in one of the top 10 franchises 2013 has to offer should take a few things into account before they do so, however.
The first thing that should be considered, of course, is the budget. The top 10 franchises for 2013 are all very popular, but the start up cost for each can vary widely. Total investment can range from as much as $13,524,000 for a Hampton Hotel franchise for as low as $30,800 for a 7 Eleven franchise. Potential franchisees will need to take their budget into account and invest in the franchise that best fits their needs and their financial abilities.
The type of business should also be considered. A person who has experience in the food industry would be better able to handle the various tasks involved in running a restaurant, whereas starting a hotel may require good people skills and a highly organized manager. The most important factors are the skills, abilities and interests of the person who is considering starting the business. New franchisees should look for profitable businesses that they have an interest in or, better yet, a passion for.
Location is also another major factor. Just because a business is one of the top 10 franchises 2013 has to offer does not mean it will be an automatic success no matter where it is located. Assessing the demand for the product or service in the proposed location of the new franchise is a must, as well as analyzing the strength of competing businesses in the area.
For more information on each of the above mentioned franchises, please visit EmpoweredEzine.com for a full top 10 franchises for 2013 review.
SOURCE Empowered Ezine