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There will always be times where one franchise looks better than another. Times when one market is doing better than another. Times when one industry has a positive economic forecast and another is expected to shrink. In 2019, you probably don’t want to be in the business of running an automat or installing phone booths. But the economic forecast is just one factor to consider. There are a number of factors we must consider when figuring out the top types of franchises to own in 2019.
There might be strong industries with no high quality franchisors looking to expand in your area. Remember, as a franchisee, you are your own boss when it comes to day-to-day affairs, but ultimately you can’t succeed without a competent, honest, and experienced franchisor who is committed to your success. You also have to consider where you are. You don’t want to run a furnace installation and maintenance franchise in the Kalahari Desert. (Or probably any other business in the Kalahari Desert, to be fair).
And, of course, you have to consider what you want. What are you interested in? What experience/education do you have? What are your resources? The answers to all of these questions will determine the top franchises for you to own.
Speaking more broadly, there are several factors we can examine that are independent of the prospective franchisee that can determine which are the top franchises to own. Here is a list of a few of the top franchises to own today:
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We’ve only just scratched the surface of the top franchises to own in 2019. To learn more about the top franchises to own and which franchise might be best for you personally, please click here.