The franchise market changes each year: consumer tastes grow in favor of certain brands while others fade from the market. Additionally, market saturation can turn a once-popular franchise (where success was almost guaranteed) into a risky bet that could take years to turn a profit.
Many factors determine the success of your franchise business—including luck—so it’s wise to take your time before deciding which franchise to open. Throw a global pandemic into the mix, and it’s one more reason to research all possible franchises available to you carefully.
Below are some of the most popular franchises to know in 2021, alongside details considering why you may want to choose that franchise for your business venture.
Walk-On’s Sports Bistreaux is a Louisiana-themed restaurant and sports bar. This franchise has the potential to give Buffalo Wild Wings a run for its money. Walk-On’s only started allowing franchises in 2015 (it was founded in 2003), but its brand has quickly grown.
Within the last 5 years, Walk-On’s went from 5 company-owned stores and 2 franchises to 36 franchises across the US.
Walk-On’s charges a $60,000 initial franchise fee with an estimated startup investment between $1.2 million and $4 million. This franchise may seem expensive to start—but with a bright and promising future for the brand, it could become a staple in your market.
Burn Boot Camp is another franchise that’s been licensing since 2015. As of 2020, they have 4 company-owned locations and 257 franchisee-owned businesses. This company charges $40,000 for an up-front fee and has initial startup costs ranging from $150,000 to $400,000.
Boot-camp-style exercise clubs have been around for a few decades, but they’ve really taken off in the past few years. Boot camps allow people to form a community of friends and supporters to achieve their weight-loss goals while providing participants a full-body workout. If there aren’t many boot camp options in your area, Burn Boot Camp may be an ideal franchise for you.
Mosquito Hunters offers mosquito and tick removal services for residential and commercial areas. Not only do technicians spray for existing pests—they also identify the food sources and breeding grounds of the creatures and advise residents on how to eliminate them. For example, they might recommend removing standing water, especially in the hot summer months.
Mosquito Hunters has more than 93 locations across the United States, a large jump since the company started franchising locations in 2017. The initial franchise fee is $35,000, with an estimated startup cost ranging between $72,000 and $95,000. Consider whether pest removal is in high demand in your area and whether you can operate a seasonal business model before committing to this franchise.
Founded in 2010, Pet Wants offers fresh pet food made with whole ingredients. It offers both an in-store model and delivery options for customers who care about what their pets eat and want to feed them the best. Pet Wants recently saw a dip in franchise locations from 124 in 2019 to 105 franchisee-owned stores in 2020. However, this came after significant growth from just 69 stores in 2018.
The cost to open a Pet Wants store ranges from $38,500–$48,500, and the initial startup investment varies between $60,000 and $200,000. If you’re passionate about your pets or their nutrition, this could be a fun and rewarding franchise to open.
The Board & Brush Creative Studio offers DIY wood-sign workshops for people who want to get creative but might not know how. They host private events where attendees can create specific signs (like a sorority celebrating its new initiates) and classes on how to create specific signs for weddings, home decor, and gifts. These workshops and kits help people to realize their creativity through woodworking and painting.
The initial fee to open a Board & Brush location is $25,000, with startup costs ranging from $64,000–$90,000. Board & Brush first started franchising in 2016 with 0 franchises and expanded to more than 100 US franchises within a year. In 2020, there are more than 245 franchise locations across the country. If there’s a gap in the number of art studios or creative outlets in your area, this could be a good opportunity.
While franchise fees vary based on the brand and goals of the organization, most business owners need to invest a hefty amount of startup costs to get their franchise going. Some franchises (like McDonald’s) cost more than $1 million to open. Others, like a Lendio franchise, require a significantly lower up-front investment.
If you need a loan to get your business going or want to look into a line of credit, we’re here to help. Visit Lendio’s online loan center to learn about your options and compare lenders to find the best one for your needs.