Starting your own business can be a challenge, but it’s also one of the most rewarding things you can do. To make the process easier, you could choose to open a franchise, which allows you to benefit from brand recognition and an established framework. But what are the best franchises to own in 2022? Read on to find out which companies franchise consultants are currently recommending.
The Best Franchises to Own in 2022 According to Franchise Consultants: Which Is Right for You?
1. Code Ninjas
Code Ninjas has hundreds of learning centers around the world and is an established name in the educational industry. The programs offered focus on teaching children how to code. There are online and in-person classes for various age groups as well as camps in the summer and throughout the year.
2. Flip Flop Shop
If you’re looking to get started with a smaller amount of money, Flip Flop Shop could be right for you. This franchise can be set up with only $99,000-$150,000, whereas some other options take an investment of up to $1 million. What’s more, you can expect good revenue from this type of shop, especially since the footwear industry has an expected annual growth rate of 3.60% in the next few years.
The core products sold by this shop are shoes related to the beach and relaxation, so your franchise might do well in a coastal region. So far, there are over 90 existing Flip Flop Shops, and they work with leading footwear brands that include Birkenstock, Flojos, Havaianas, and Crocs.
Since the Coronavirus pandemic, the general population has become even more aware of the importance of hygiene. In the US, there are now almost 900,000 maids, and it’s likely that more and more people will employ someone else to tidy their homes in the future. What’s more, even people who don’t have a regular housekeeper are happy to hire someone for harder one-off jobs.
PuroClean is a franchise that capitalizes on that by offering cleaning services after property damage such as leaks, mold, fire and smoke damage, or biohazards. If you choose this franchise, you’ll work with individual households, businesses, property managers, and insurance agents. Even if you open the first PuroClean in your area, you’ll benefit from brand recognition, since the company has been featured in publications such as Entrepreneur and Inc.
When you own a franchise, you can benefit from a proven business model, a support network, brand recognition, and better access to funding. That’s why franchisees are much more likely to succeed than regular small business owners. At the moment, some of the best businesses to start are Code Ninjas, Flip Flop Shop, and PuroClean. All three have good long-term prospects and are likely to provide you with a high income for decades to come.