The best franchises to own in the US in 2022 are those that offer stability, profitability, and growth potential. Franchises have become increasingly popular among business professionals who want to own their own businesses. This article is a list of the 10 top franchises in the United States in 2022. We will examine what makes these franchises so successful and how they are poised for continued success in the years to come!
#10 on the List of Best Franchises to Own:
Tropical Smoothie
Started Franchising in 1997
Number of Franchises: 991
Cost to Open a Franchise: $257k – $560k
The first Tropical Smoothie Cafe opened in 1997 in Tallahassee, Florida. The founders were two brothers who were passionate about healthy eating and wanted to create a place where people could find healthy food options without having to sacrifice taste or convenience.
Tropical Smoothie had a record-breaking year in 2021, when it added 300 new franchises. The company reported an almost 25% increase in same-store sales over the previous year. That’s its ninth consecutive year of growth.
In 2021, the brand made a major investment in digital channels development, accounting for 75% of sales growth in the third quarter, and timed new menu items correctly, with mocktail smoothies like the “Mango Berry Cosmo” debuting in early June, right when vaccination levels rose and millions more Americans started going out. COVID-19 also gave many Americans a renewed interest on health and wellbeing.
#9 Best Franchise to Own:
7-Eleven
Started Franchising in 1964
Number of Franchises: 77,346
Cost to Open a Franchise: $69k – $1.2M
The first-ever store that would later become known as a “7-Eleven” was opened in Dallas, Texas on July 11, 1927. It was owned and operated by Joe C. Thompson who ran it as a convenience store. At the time of its opening, it sold soft drinks, sandwiches, gasoline, cigarettes, and other miscellaneous items. In addition to this original location in Dallas, Thompson also opened stores in Fort Worth and San Antonio in the early 1930s.
7-Eleven opens roughly a few hundred new locations each year. 2021, on the other hand, was a special year: The firm acquired Speedway, the convenience shop arm of Marathon Petroleum, which increased its store count to 3,800. The $21 billion purchase added over 77,000 stores to 7-Eleven’s global portfolio, with 13,000 of them in the United States.
7-Eleven was well-positioned when COVID-19 struck, having released a delivery app, 7NOW, in 2018. Not only did the firm’s delivery business grow by 500% in 2020, but it went on to double that in 2021. Today, 95% of all 7-Eleven stores in the United States and Canada offer delivery. As you can see, 7-11 has definitely earned their spot on the list of best franchises to own.
#8 Best Franchise to Own:
Servpro
Started Franchising in 1969
Number of Franchises: 1,930
Cost to Open a Franchise: $191k – $245k
Servpro Industries, Inc. is a privately held American company that provides fire and water restoration services to businesses and homeowners in the United States and abroad. It was founded in 1967 by Archie Carroll and his son, Allen Carroll.
In addition to its core business of providing fire and water damage restoration services, Servpro also offers carpet cleaning, duct cleaning, 24-hour emergency service, disaster recovery planning, insurance claim help desk support, mold remediation, and content cleaning.
The labor scarcity resulting from the pandemic made it difficult to hire in an industry that requires cleaning up dirty situations. However, Servpro took action by running a national advertising campaign to highlight the advantages of working for them. It also created a new technology platform that collects all participating franchise job openings across the country and makes it easier for people to search for available jobs in their area. Both campaigns attracted a record number of applicants. Servpro will introduce another first-of-a-kind tech platform this year that documents everything done on a project with photos and measurements to make projects go faster and easier.
#7 Best Franchise to Own:
Planet Fitness
Started Franchising in 2003
Number of Franchises: 2,174
Cost to Open a Franchise: $936k – $4.6M
Planet Fitness is a health club chain with over 1000 locations in the United States. It was founded in 1992 by Michael Grondahl and Chris Rondeau. Planet Fitness started out as a small gym in Dover, New Hampshire. In its early years, it focused on providing a cheap, no-frills workout experience for its members.
The company grew rapidly in the 2000s, thanks to its low prices and aggressive marketing campaigns. Today, Planet Fitness is one of the largest health club chains in the world. It has more than 12 million members worldwide.
Planet Fitness suffered a significant hit due to the pandemic, closing down in all 50 states in March 2020. The chain, on the other hand, continued to keep customers engaged with free live-streamed exercises and did not lose even a single of its more than 2,000 locations – an outstanding accomplishment given that 22% of fitness gyms and studios closed permanently by July 2021.
The company’s new digital app includes COVID-19 wellness questions upon check-in and a “crowd meter” that members can use to assess how crowded a club is before leaving home. Customers were returning at a rate that astounded even executives by summer, according to Forbes. With this continued growth, Planet Fitness is going to keep moving up the ladder on the list of best franchises to own.
#6 Best Franchise to Own:
Kumon
Started Franchising in 1958
Number of Franchises: 26,365
Cost to Open a Franchise: $64k – $140k
Kumon is a supplemental education program that was founded in 1954 by Toru Kumon. It began as a way to help his son, Takeshi, who was struggling with math and reading at school. Kumon soon found that many other children were also struggling and could benefit from the program. The first Kumon center opened in Osaka, Japan in 1958, and in 1969 the first center was opened in the United States in Los Angeles, California.
The Kumon Method is based on the belief that each child has unlimited potential and can learn whatever they are taught if it is taught in an individualized way that meets the child’s needs. Kumon students work on a set of specially designed worksheets that are personalized for them based on their level of ability.
Today, Kumon has gone back to its roots, building on an academic enrichment program that has remained largely unchanged for 60 years. Its recent efforts have been focused on resuming in-person learning, which is shared by parents all across the country. Now that 99% of its centers are now open physically again, kids are streaming in. As a result, Kumon is expanding at the same pace as its student’s brains develop. By 2021, it had expanded to more than 2,000 locations in North America and has over 26,000 worldwide locations.
#5 on the List Best Franchises to Own:
Culver’s
Started Franchising in 1988
Number of Franchises: 808
Cost to Open a Franchise: $2.4M – $5.4M
The restaurant chain Culver’s was founded in 1984 by Craig and Lea Culver. The couple had been married for several years and were working at a resort when they came up with the idea to open their own restaurant. They both had strong backgrounds in food service, so it seemed like a natural next step.
They originally wanted to name the restaurant “Culver’s Frozen Custard” after the dessert that would be their specialty, but there was already a business with that name. So instead, they went with “Culver’s,” which is still the name of the company today.
In 2020, Culver’s agility was put to the test. Close to 60% of Culver’s sales were “on-the-go” before the pandemic, and when lockdown began, that percentage dropped dramatically. To satisfy their orders, franchisees utilized a range of tactics: some utilized online ordering with “Curdside” pickup; others switched to double drive-thrus or added team members outside to take orders on tablets with a contactless credit card payment device. Because of this, the company’s brand momentum accelerated at an all-time high. During 2020, it opened 50 restaurants, its fastest year to date.
#4 on the List Best Franchises to Own:
Jersey Mike’s Subs
Started Franchising in 1987
Number of Franchises: 1,973
Cost to Open a Franchise: $144k – $786k
Jersey Mike’s subs first opened in 1956 as a small shop in Point Pleasant, New Jersey. The original owner, Peter Cancro, started out as a 17-year-old high school student who loved to make sandwiches for his friends. When he was old enough, Cancro bought the store from his uncle and began franchising the business in 1987.
Today, there are over 1000 Jersey Mike’s locations throughout the United States. The company is still privately owned by Cancro and his wife Linda. In 2020, they were ranked #38 on the Forbes list of America’s largest private companies.
With 40% of sales occurring in the evening, Jersey Mike’s is the leading hot-sandwich market. With Uber and DoorDash third-party integrations, digital ordering has increased to 52% of its business during the epidemic, up from 15%. Now it’s at 40%, thanks to a new loyalty program introduced in August 2021.
One of the main reasons Jersey Mike’s is number 4 on the list of best franchises to own is because they are dedicated to their employees. Managers make an average of $115,000 per year; assistant managers earn a cut of their store’s profits; and line staff receives an average of $4 per hour, raising hourly earnings from $12 to $16.
#3 on the List of Best Franchises to Own:
Popeyes
Started Franchising in 1979
Number of Franchises: 3,575
Cost to Open a Franchise: $383k – $3.5M
Popeye’s chicken is a fast food restaurant chain that specializes in fried chicken. The company was founded by Al Copeland in 1972 and named after the cartoon character Popeye the Sailor Man.
The first Popeye’s restaurant opened in Arabi, Louisiana. Copeland developed the recipe for his signature “Cajun” fried chicken while working as a short order cook at a New Orleans pancake house. In 1979, Popeye’s began to franchise and within ten years, there were over 600 restaurants open nationwide. The company is headquartered in Atlanta, Georgia and is owned by Yum! Brands Inc., which also owns KFC and Taco Bell.
The pace at which new restaurants are being built has accelerated. New restaurant designs now include kiosks, QR codes, and simplified mobile order pickup, whereas app and delivery businesses, which were virtually non-existent two years ago, have improved the experience of mobile ordering and tracking deliveries. Last year, Popeyes launched its first-ever loyalty program in its app, helping to propel it to number 3 on the list of best franchises to own. Popeyes Rewards uses a points system to encourage repeat visitors by offering access to special offers, parties, member experiences, swagga’, $1 happy hour sides, and more.
#2 on the List of Best Franchises to Own:
The UPS Store
Started Franchising in 1984
Number of Franchises: 5,359
Cost to Open a Franchise: $185k – $474k
The UPS Store was founded in 1984 by three entrepreneurs who wanted to provide a shipping and packing solution for small businesses. At the time, the only other option was the U.S. Postal Service, which could be slow and unreliable for business owners.
The first The UPS Store opened in San Diego, California, and it was an instant success. Within two years, there were 100 stores open across the country. Today, there are more than 4000 stores in the U.S., as well as locations in Puerto Rico, Canada, and Italy.
The introduction of a new point-of-sale system, as well as the implementation of a 2020 redesign, have aided The UPS Store in meeting rising demand. Mobile, modular units like packing and print tables free up space for a new zone in the open floor plan, allowing consumers to do print consultations and returns. Each of the 100 redesigned shops is adaptable and alterable on a daily basis and hour by hour. All future stores will be designed in this manner going forward.
#1 Overall on the List of Best Franchises to Own:
Taco Bell
Started Franchising in 1964
Number of Franchises: 7,567
Cost to Open a Franchise: $575k – $3.4M
In 1962, Glen Bell opened the first Taco Bell in Downey, California. He had a simple idea: to serve Mexican-inspired food at a price that everyone could afford. Over the years, Taco Bell has become one of the most popular fast food chains in America. Millions of people enjoy its tacos, burritos, and other menu items every day.
Taco Bell’s success as number 1 on the list of best franchises to own is due in part to its innovative marketing campaigns. For example, when COVID-19 hit Taco Bell was able to respond quickly with its Go Mobile concept. The company’s Go Mobile stores feature a lane reserved exclusively for customers who place an order through the mobile app. They also use “bellhops” to take orders on iPads and geofencing technology to alert drivers when they are nearby for faster service. By the fall of 2021, the brand had 27 Go Mobile shops with 93 more planned, as well as many other locations that will include aspects of Go Mobile.
This concludes the top 10 list of the best franchises to own in the US in 2022! If you’re an entrepreneur looking to start a new venture you can’t go wrong with any of these franchises.