Franchise investing provides, in many cases, a proven model of business that first-time owners can rely upon. Besides a franchisee playbook, parent companies also offer ongoing support and assistance in the form of marketing, technical help and sourcing, for instance. That said, some of the best franchises aren't the most well-known or even the sexiest of concepts. But then again, investors should not be buying into a concept based on brand name or concept idea alone. Insidermonkey experts made a list of the most profitable franchises to buy in 2016.
Potential investors should ask brands they are interested in if they have a third-party franchisee satisfaction report available for review. "If they don't have one ask them why," he noted. "That potentially means they're hiding something." There are lots of market research firms that looks to provide lists of the "best franchises," and while these lists are a good stepping stone for potential franchisees to use, it's ultimately up to investors to do their homework. You can also read our previous year's article on 15 most profitable franchises to buy in 2015.
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