Are you looking for franchise opportunities? We asked three franchise brokers about the best franchises to buy in 2024. They gave us a list of the best franchises with a proven business model and established brand.
Then we reviewed their franchise disclosure documents to help you make a better decision. Our list includes the best franchises to own in 2024. Most of these profitable franchises aren’t household names, but there are a few surprises on the list, including franchises that are cheap to open.
We’ll help you find the top franchises of 2024!
Get ready to learn more about finding the ideal franchise for you. You can either read each section in its entirety or click on one of the links above to jump to that franchise.
What should prospective franchise owners consider?
You’ll want to consider the following things when considering a franchise opportunity:
- Brand recognition: One of the biggest benefits of a successful franchise opportunity is the established brand name.
- Franchisee satisfaction: Besides brand recognition, you’ll want to understand how the recognizable brand treats its franchisees. This can be established by checking the closed franchises in item 20 of the financial disclosure document or asking franchisees.
- Financing options: Many franchises cost enough that people will need financing options. Does the franchisor provide referral or loans, or is it completely on you to find financing?
- Startup costs: The initial investment can be substantial. For a franchising opportunity, it ranges from thousands of dollars to millions.
- Royalty fees and ongoing expenses: Most franchises provide ongoing support and charge a royalty fee to cover operating costs. These can be substantial and eat into your net profits.
- Comprehensive training: One of the benefits of a franchise is the unique business model should provide comprehensive training. Franchise opportunities that don’t probably won’t provide a solid foundation for financial stability.
- Long-term success: Some iconic brands have been in business for 20 years. However, since you can start a franchise business in just a few years, prior experience matters for predicting profitable opportunities.
Next, we’ll discuss the best franchise based on recommendations from professional franchise brokers.
Best Franchises to Buy
UpFlip has partnered with companies that specifically believe in providing business owners with the tools they need to become profitable franchises. Some of our favorite franchises are:
- Wise Coatings
- MaidThis
- Brown’s Pressure Washing
- Spray-Net
- EverLine
We’ll discuss these first.
#1. Wise Coatings
Brandon Vaughn started Wise Coatings with just $15,000. The majority was spent on marketing and learning how to work with the coating materials.
There are currently 8 franchises and 140 applicants (with growing demand). The company helps with the marketing and systems you need to run the business right. This franchise opportunity requires:
• Franchise fee: $50K
• Total investment: $117.4K to $160K (including 3 months of working capital)
• Space needed: 100 to 2K square feet
• Employees: 2 to 4 employees
• Territories: Discounts for buying more than 1
• Franchising funding assistance: Yes, through Benetrends (learn how to qualify)
Check out our interview with Brandon below:
#2. MaidThis
Neel Parekh started MaidThis in 2013, and today the company makes over $166K per month. They have 17 franchisees and are helping many small business owners start a remote cleaning company.
• Franchise fee: $39K
• Total investment: $50.4K to $72.7K
• Royalty fee: 7%
• Space needed: 100 to 2K square feet
• Employees: Option to do the work yourself or hire employees
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Check out our interview with Neel below:
Learn more about starting a remote cleaning business here.
#3. Brown’s Pressure Washing
Brown’s Pressure Washing is a franchise opportunity that UpFlip and Joshua Brown have created to help you start a turnkey pressure washing business. The licensing fee includes:
- The video courses and boot camp
- Website
- Contract and brand license
- Territory
- Systems manuals
- Access to the 24/7 online community
There’s also a 10% royalty that covers weekly coaching and admin support.
• Licensing fee: $20K
• Total investment: $50K to $100K
• Royalty fee: 10%
• Space needed: 100 to 2K square feet
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Check out our interview with Joshua below:
Check out this free training for a sneak peek of what’s to come.
#4. Spray-Net
Carmelo Marsala started Spray-Net because he realized the painting industry needed modernization to speed up the process of painting. They have 40 franchisees and own patents on the process so that nobody else can offer it.
• Franchise fee: $45K
• Total investment: $170.8K to $241.8K
• Royalty fee: 8%
• Space needed: 100 to 2K square feet
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Learn more about starting a painting franchise below:
#5. EverLine
EverLine Coatings is a Canadian company started by John Evans. They repair parking lots. The average franchise owner makes nearly $900K in the first year.
• Franchise fee: $49.5K
• Total investment: $164.7 to $332.4K
• Royalty fee: 9% or $500 per territory + 3% (whichever is greater)
• Space needed: 100 to 2K square feet
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Learn more about EverLine below:
Profitable Franchises
These franchises were suggested by the franchise brokers. Their financial disclosure documents share enough information for prospective franchisees to truly understand whether the businesses are profitable franchise opportunities.
There may be other franchise companies where franchise units can become successful businesses, but these are the ones we can verify.
#6. Gameday Men’s Health
Gameday Men’s Health helps men overcome low testosterone. “Low T” impacts health by causing fatigue, moodiness, decreased concentration, and reduced libido.
• Franchise fee: $63.2K
• Total investment: $227.1K and $386.5K
• Royalty fee: 9.23% + $1.3K to $3.8K per month
• Space needed: 100 to 2K square feet
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Check out one of their franchise videos to understand more about what they do:
These franchises have average revenues of over $2 million with a gross profit margin of 79.22%. Current franchise owners average a 34.2% profit margin after franchisor fees.
#7. 1-800-STRIPER (Not to Be Confused with Strippers)
1-800-STRIPER is a line painting and pavement maintenance franchise. Typical franchise owners make nearly $1.2 million annually with a 54% gross profit and nearly 40% after royalties.
• Franchise fee: $57K
• Total investment: $208.7K to $329.5
• Royalty fee: 12.53%
• Space needed: 100 to 2K square feet
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Just don’t be surprised if you get calls soliciting services you don’t offer. It’s a clever name, but the franchise doesn’t play with the common confusion of their name in marketing.
#8. PrideStaff
PrideStaff is recognized as one of the best and fastest-growing staffing agencies in the country. The combination of a proven business model and the lowest initial franchise fees make this one of the best franchises to buy.
• Franchise fee: $6K to $17.2K
• Total investment: $99.6K to $193.2K
• Royalty fee: Higher of 6% of net earnings or 35% of gross + $1.7K to $2.5K monthly
• Space needed: 100 to 2K square feet
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
If human resources sounds like a good franchise business for you, check out more about PrideStaff:
These profitable franchises average 15.7% profit margins on an average annual revenue of $2.8 million.
#9. Hallmark Homecare
Prospective franchise owners for Hallmark Homecare act as recruiters to help people who need at-home care connect with licensed, screened, and insured caregivers.
• Franchise fee: $59.5K
• Total Investment: $109.5K to $134.5K
• Royalty fee: 10.27%
• Space needed: 100 to 2K square feet
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Check out this video to learn more about Hallmark Homecare:
These profitable franchises earn an average revenue of nearly $2.45 million with 34.66% gross profits and approximately 16.52% margins after royalties and fees.
#10. Grease Monkey
A Grease Monkey automotive franchise is one of the best franchises for the mechanically inclined. This established brand focuses on oil changes, battery replacements, brakes, and other automotive tasks.
• Franchise fee: $20K or $49.9K
• Total investment: $251.8K to $821.1K
• Royalty fee: 10.5% + $193 to $346 monthly
• Space needed: Need a shop, cannot be home based
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
If this sounds interesting, check out their video below:
While there’s a hefty initial investment cost because franchise units need a shop, the average franchise makes almost $1.2 million per year. That’s with a 72.1% gross profit margin or 21.4% after paying the franchisor.
#11. Koala Insulation
Koala Insulation focuses on providing better insulation to home owners and builders. This profitable franchise works much like a local service business where you’ll be traveling to customers locations to conduct inspections, provide quotes, and replace insulation.
• Franchise fee: $100.8K to $113.8K
• Total investment: $183.8K to $217.2K
• Royalty fee: 13.40%
• Space needed: Mobile business
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Check out this video to learn more about starting your own insulation franchise:
Franchises average nearly $768K in revenue with a 49.2% gross profit margin and 32.2% after royalties and fees. That means the average franchise’s profitability is around $247.3K. Americans spend over $500B on home improvements each year.
#12. Conserva Irrigation
Conserva Irrigation focuses on providing irrigation for commercial and residential properties to keep their landscaping properly hydrated without wasting water.
• Franchise fee: $49.5K
• Total investment: $84.8K to $110K
• Royalty fee: 9.5% + $40K marketing annually + $300/month
• Space needed: Mobile business
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Watch the video below to discover more:
Franchises average over $777K revenue with a 56.3% gross profit margin and 23.3% after royalties and fees. That means the average franchise’s profitability is around $181.2K.
#13. Art of Drawers
Art of Drawers is one of the best franchises for people who want to run a home remodeling business. You’ll help design and install beautiful custom cabinetry for homeowners.
• Franchise fee: $94.7K and $101.7K
• Total investment: $120K and $162.2K
• Royalty fee: 9% + $895 monthly
• Space Needed: Mobile business
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Franchise owners make an average of $345.1K annual revenue with a 72% gross profit margin. After royalties and other fees, the average franchisee earns 38.7%.
#14. That 1 Painter
That 1 Painter is one of the best franchises for painters who want to serve residential and commercial clients.
• Franchise fee: $59K
• Total investment: $113K to $189K
• Royalty fee: 13% + $1.5K monthly
• Space needed: Mobile business
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Check out their video below:
The typical franchise has a gross margin of 47.89% on $691K annual revenue. After royalties and other expenses, the average owner makes 17.91%.
More Franchise Business Opportunities
The best franchises aren’t always the most profitable franchises. Sometimes, brand recognition, comprehensive training, and extensive business support can benefit a franchise location.
The following franchise opportunities did not disclose enough to calculate profit margins, but they at least provided their revenues.
#15. Pirtek
PIRTEK has more than 475 franchise locations servicing hydraulic and industrial hoses.
• Franchise fee: $114.6K to $281K
• Total investment: $216.4K to $619.3K
• Royalty fee: 5.875% to 7.75% + $660 to $2,850 monthly + $100 monthly per van
• Space needed: Mobile business
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
While I was unable to establish if Pirtek should be listed in the most profitable franchises, it’s one of the best franchises on the list with over $1,239,087 in annual revenue.
#16. Oasis Senior Advisors
Oasis Senior Advisors helps families establish the proper level of care for their loved ones. You’ll work on commission and typically earn between $3,716.94 and up to $11,485 for some placements.
• Franchise fee: $50K to $90K
• Total investment: $67.2K to $112K
• Royalty fee: $2.6K to $4K + 6% to 10% monthly
• Space needed: Home office
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Depending on your location and success in placing people, this could easily be one of the most profitable franchises.
#17. Assisting Hands Home Care
Assisting Hands Home Care is another of the best franchises that focuses on providing in-home health care to their clients.
• Franchise fee: $55.2K
• Total investment: $94.5K to $176.4K
• Royalty fee: 4.5% to 5.5% + $200 monthly + potentially other fees
• Space needed: Home office
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
A typical Assisting Hands franchise earns $801,186 in annual revenue.
#18. FASTSIGNS
FASTSIGNS provides graphic design, project management, and custom signs to help increase business visibility.
• Franchise fee: $69.4K to $169.8K
• Total investment: $96.2K to $344.6K
• Royalty fee: 4% + $249 monthly (first year) or 7% + $299 monthly (second year)
• Space needed: Equipment storage and shop
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Franchises typically earn $786,378 in annual revenue.
#19. Real Property Management
Real Property Management is one of the best franchises if you want to help people manage their real estate investments. With over 10,000 properties managed, this is one of the most profitable franchises in the property management industry.
• Franchise fee: $59.9K
• Total investment: $91.7K to $266.2K
• Royalty fee: 14% + fees based on number of properties
• Space needed: Equipment storage and shop
• Employees: Enough employees to provide services
• Territories: Can buy more than one territory if available in your area
• Franchising funding assistance: Yes, through third-party financing services
Typical franchises earn $636,477 in annual revenue.
How to Buy a Franchise
Buying a franchise usually follows this overall process:
- Request more information: Reach out to learn more about the best franchise.
- Have a consultation call: You’ll have an original call to learn more about the franchisor and establish whether you’d make good business associates.
- Review franchise disclosure document: This covers both parties’ initial investments and requirements.
- Headquarters visit: You’ll normally meet with the company before becoming a new business owner and signing the franchise agreement.
- Sign franchise agreement and pay franchise fee: Before you can start doing business under the brand name, you’ll need to sign a contract and pay the franchise fee.
- Attend initial training: Depending on the franchise, your level of experience, and other factors, you’ll normally spend three days to a month in training.
- Prepare to open your business: You’ll need to set up the business, order inventory, set up your marketing, find a business location, and handle other startup costs.
- Start marketing your business: Initial investment costs often include a substantial initial investment in marketing to get potential customers. If you don’t build a loyal customer base, you’ll find it much harder to reach high profitability and cover your overhead costs.
What proven business model do you like?
We’ve discussed the key considerations before you buy, provided details about 19 of the best franchises, and explained the buying process for a franchise.
Next, you’ll need to determine which franchise opportunities make sense for you. Which of the best franchise ideas are you considering for your entrepreneurial journey?
