Franchise Spotlight: Top Franchises
These are the most popular franchise opportunities, based on enquires sent to franchisors over the past week.
More than 90,000 franchised businesses operate in Australia, employing nearly 515,000 people, according to statistics from market research firm IBISWorld. These outlets and offices are spread over 1000 franchised systems.
In terms of growth and global revenues, the most successful among these are food-related chains, with McDonald’s and 7-Eleven being notable examples.
Top franchise analysis
This top franchise category is not a measure of growth and financial success. Rather, it spotlights the most popular franchise opportunities based on the number of enquiries sent to franchisors through this site.
Updated weekly, this list indicates which brands are capturing the attention of prospective franchisees.
It could be that they’ve read news about how the franchise is successfully leveraging industry trends or that they’ve had a great customer experience.
Alternatively, their marketing pitch on this site could be compelling, or perhaps the franchise operates in their favored sector.
There’s considerable overlap between top franchises and low-cost opportunities, which are affordable to potential buyers with a wider range of budgets. Regardless, it’s a reassuring sign if the franchisor is receiving a lot of enquiries.
That said, popularity alone is not a definitive indicator of the underlying business model’s effectiveness and should not substitute for proper due diligence. You should still be as stringent in your research as you would with a franchise in any other category.
This should include quizzing franchisors on their training and support, what royalties are involved when you’ll break even on your investment, and projected earnings in the first year and beyond. Continue to speak to existing franchisees and be suspicious if this request is declined.