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How To Tell If Your Business Will Be a Viable/Profitable Franchise (Part B)
So, what is the best way to choose successful franchise in New York?
The best way to own a successful franchise in New York is to look at past success. Obviously, franchises like McDonalds and Subway have established themselves as the gold mines of the franchise world. But in recent years, the landscape has changed when it comes to the franchise industry. Besides the fast-food industry, you can buy a highly successful franchise in hospitality, fitness, tax services, and convenience store locations.
The top franchise opportunities of 2010
Recently Allbusiness conducted a study on the franchise industry, analyzing more than 800 franchises to find out which were the best investment opportunity. While Dunkin Donuts fell from the top 10 due to legal issues with franchisees, there were a few new faces that made the list. The Allbusiness top 10 franchises for 2010 are:
- Subway (fast-food sandwiches)
- Liberty Tax Service (tax preparation and filing)
- Jazzercise (dance fitness)
- Jimmy John's Gourmet Sandwich Shops (sandwich shops)
- Jack In The Box (fast-food hamburgers)
- Vanguard Cleaning Systems (commercial cleaning services)
- Smoothie King (fast-food smoothies)
- Choice Hotels International (hospitality)
- Servpro (emergency mitigation service for damaged property)
- Hampton Inn/Hampton Inn & Suites (hospitality)
And while these are the top 10 U.S. franchises according to this report, there are hundreds of other opportunities to own a successful franchise in New York. Great Clips, for instance, a hair salon chain, made the list at #20, while 3 different businesses in the senior care industry made the top 100 list.
Getting Professional Franchise Help
When starting a successful franchise in New York, you should get the help of a professional who has knowledge of the industry. A New York franchise attorney can help you through the processing of starting your franchise.
If you are an entrepreneur who is interested in purchasing a business or franchise, there is a lot you need to know, including the top 5 business-buying myths and how to evaluate business assets. For a limited time, get this FREE business manual An Entrepreneurs Guide to Purchasing a Business or Franchise. Offering expert help in New York, New Jersey and nationwide, business and franchise attorney Charles N. Internicola is ready to answer your questions about franchise, national and international trademarks, and any critical business matters that may arise. Contact us today - 1-800-976-4904
IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Charles N. Internicola, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. Further you acknowledge that any and all citations to cases and statutes must be independently verified by competent legal counsel to confirm the validity and accuracy of such information. The content of this site is subject to the Copyright of its author and owner, Charles N. Internicola, Esq.
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