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Feb
16
2017
OWNERSHIP

Top 4 Benefits the Best Franchises to Own Offer

Top 4 Benefits the Best Franchises to Own Offer

Not all franchises are created equal. Look for these 4 key benefits before investing in a franchise.

Investing in a franchise is a great option for someone looking to start a business with one foot already in the door. By opening a franchise location, you not only get to be your own boss and run your own business, you have the backing of the parent brand from day one. In franchising, your success equates to the franchisor’s success, and providing support for store owners is in the franchisor’s best interest. But not all franchises are created equal.

Several media outlets and publications release rankings each year listing the best franchises to own. From Entrepreneur to Forbes and Franchise Business Review, organizations review factors such as financial stability, consistency of growth, franchisee satisfaction, support provided, and cost of investment. While the lists aren’t always exactly the same, there are some franchises that appear across the board as being in the top to own. Why are these brands consistently ranked high on the “best franchises to own” lists? They have several franchise benefits and offerings in common. Below are the four biggest perks to joining a highly ranked franchise business.

1. Extensive Training 

The best franchises understand that having successful franchisees is critical to the growth of the entire franchise. That means they invest in a quality training program to ensure their new business owners are set up for success. Franchisor education should include hands-on, in-store experience and comprehensive education on the products/services offered. For example, The UPS Store training program includes 215 to 225 hours of franchise training, comprised of web-based courses, in-store experiences, and interactive workshops. The top franchises to own will take the time to make sure their franchisees are prepared to open a store and run it efficiently.

2. Marketing Support 

One of the major benefits of franchising is the established brand recognition that comes with it. The best franchises are the ones with a positive brand reputation, meaning as soon as the store’s sign goes up, consumers know what you do and who you are, even if they haven’t been a customer before. Branding alone is not necessarily going to bring shoppers in, so it’s important to have a marketing plan to spread the word about the specific services and offerings available at your location. When looking into a potential franchise to own, evaluate whether the parent brand offers marketing and public relations assistance. The best ones will provide support through both national campaigns and local advertising resources. Some will provide grand opening tools, including best practices on alerting media attention, and help you get the appropriate signage. Additional services may also be available, so be sure to figure out what you have access to before getting started.

3. Large Network of Helpful Franchisees 

Another common trait among the best franchises to own is the strength of the franchisee network. The companies with the highest rankings have been in business a while and have multiple successful locations. Aside from simply having a large community of franchisees, top franchises to own offer contact information and opportunities to network. Being able to reach out to someone who has been in your shoes and faced the same challenges you are about to encounter as a new franchisee can be invaluable. Take the opportunity to find out what worked for other owners, what didn’t, what surprised them, and how they overcame the biggest obstacles. By talking to established franchisees before opening your doors, you may be able to get a head start on success.

4. Financing Assistance 

It’s no secret that opening a franchise business requires an investment. Most franchisors have minimum financial requirements and upfront costs. Fortunately, the best franchises tend to offer some sort of financing assistance, either with their own programs or partnerships with third-party lenders. Loans can cover different costs, so make sure you check the specifics with your chosen franchise. You may be able to get support for the initial franchise fee, operational costs, inventory supply, and location expenses, such as rent and construction. This can make a huge difference in your ability to become a franchise owner, particularly if the cost is the main issue holding you back from taking the first step.

Whichever franchise you pursue a career with, make sure you do your research. The franchise benefits of opening a location with a franchisor like The UPS Store, McDonalds, or 7-Eleven, as opposed to one found lower in the top ranking lists, are the resources and support they provide their franchisees. Based on industry-ranking commonalities, the best franchises to own offer helpful resources, a recognizable brand, and a proven business model.

Looking to get started?  Check out the recent Entrepreneur 500 rankings to start your franchise search, but always consider the cost of initial investment, franchise royalty fees, training programs, franchisor support, and the satisfaction of current location owners as factors in your decision. Owning a franchise can be very rewarding and enjoyable, but the company you choose to join has a major impact on your opportunity for success. Make sure the franchisor you pick to open a business with offers at least these four benefits.

Entrepreneur's Franchise Top Rated for Veterans in 2020 badge

We Proudly Support Our Veterans

Participating partners with the VetFran program, The UPS Store offers qualifying veterans $10,000 off their franchise fee to start their new business. To learn more, contact The UPS Store Franchise Development Team.

Entrepreneur's Franchise 500 Ranked #3 in 2021 badge

Ranked for over 30 Consecutive Years

The UPS Store has been ranked #1 in the postal and business services category for over 30 years and remains in the top 5 overall for the fifth consecutive year according to the Franchise 500 list.

Kristin Howard

Franchisee, Michigan

The reason my husband and I decided to go into franchising and specifically with The UPS Store, is the different opportunities we're given with the business. The UPS Store has name recognition as well as opportunities to expand.

Debbie Adams

Franchisee, Kentucky

What I enjoy most about being a The UPS Store owner is working with my customers. We are the solution specialists for our customers.

Jim George

Franchisee, Illinios

My favorite part about The UPS Store network is the camaraderie with other franchisees. Everybody loves to help everybody else. You’re really part of a family.

Greg Murray

Franchisee, Florida

The interesting thing about The UPS Store is that when a customer walks through the door there's an extremely high probability that they're coming there to do something that is important to them. So at the end of the day, what we do for customers is very important and they are trusting that we are going to do it well.

See the Full Testimonial

Mariana Huberman

Franchisee, Washington, D.C.

One of the things that I love about The UPS Store franchise system is that you're not ever in this by yourself. The franchisees of The UPS Store network are great.

Heidi Morris

Franchisee, Colorado

The thing I enjoy most about being a The UPS Store franchisee is I get to get up, go to work and know that I'm helping other business owners succeed in what they're doing.

Bob Brown

Franchisee, Tennessee

Owning a The UPS Store franchise has changed my life because it's finally given me the opportunity to engage my customers and my staff and be able to take real pride in what I do. As a franchisee, we get faced with solving peoples' problems every day and we do everything we possibly can to try to help.

Marie Jensen

Franchisee, Oregon

My favorite thing about The UPS Store is the variety. I love the variety of customers, I love the variety of services; getting to know the customers, meeting their needs, finding out how we can help them accomplish what they need to accomplish and seeing how happy they are. That makes me ecstatic.

Tad Mollnhauer

Franchisee, Florida

With the products and services that The UPS Store provides we can make a difference in people's lives and that is the best reason for being a The UPS Store owner.

Joy Batchelor

Franchisee, Idaho

What makes being a The UPS Store franchisee worthwhile at the end of the day is the customers. The customers treat us like we're family.

Paul Erchinger

Franchisee, Texas

One nice benefit of owning a The UPS Store franchise for me has been that it gives me the opportunity to be more involved in the community. As I make relationships with others it seems like no matter what the environment is, in one way or another business comes out of that and that's not my objective—it's been a secondary benefit to being involved in the community.

Chris Reminder

Franchisee, Ohio

There are several things that I really enjoy about being a The UPS Store franchisee. First and foremost it allows me to get to know the people in the local community and that is a lot of fun. We get to see people on a regular basis. We get to know their life stories. That's a lot of fun.

Bruce Jones

Franchisee, Kentucky

Since we have joined The UPS Store, our life has changed by just having more time to spend together as a family. We've been very fortunate with the stores that we have and we have a great staff that looks out for our best interest and we look out for theirs.

Lonnie Williams

Franchisee, Oklahoma

What makes The UPS Store so successful is it gives each individual an opportunity to grow with the network and just meet the challenges that are brought to them on a daily basis. Every day gives us a new opportunity to help another person, to help another small business, to answer a question and to solve a problem.

Jeff Graham

Franchisee, Alabama

I love my customers. I love my employees. I love every person, every face that comes into my store. I enjoy every day going into work and I can't see doing anything else for the rest of my life.

Stacie Stigar

Franchisee, Alaska

I think that this franchise is so successful because of all of the resources that are available to us as center owners—we have marketing materials, we have so many different opportunities for help from the home office, and it just really makes for a great franchise.

Don Pollard

Franchisee, New Jersey

I think the thing that makes this franchise successful is a number of things. First of all we have an outstanding system, we have a great product, a great brand, and we're able to attract dynamic people to run these centers and run the business. So I think when you put all that together it really provides for a winning combination.

Mary Ellen Nichols

Franchisee, Tennessee

The thing I love about the franchise is that you have the UPS name backing you but yet you also have the autonomy to make your own decisions to promote.

Laura Griffin

Franchisee, Florida

In the eight short months I've owned my The UPS Store it has really changed my life. I've gone from being an employee of someone else to being an employer of my associates. It's a big responsibility but it's exciting every day.

Sandy Scandrett

Franchisee, Wisconsin

Being a The UPS Store franchisee has improved every aspect of my life. It's very rewarding financially, professionally, and emotionally. I have a large number of regular customers who are really, really appreciative of everything we do.

Kristie Robison

Franchisee, Alabama

I would say owning a The UPS Store location has changed my life to where I have more time and flexibility. In owning your own business you get your store up and running and you get employees that you can trust that are going to help keep your store running. This allows me to attend my two boys' ball games and also travel and do things with them so it has really changed my life for the better.