Best Franchise Industries for 2023

What are the best franchises in 2023? These little-known franchise industries can generate millions with low initial investments! Today on Franchise City.
We'll start with a real world example of somebody's "best franchise" and how they turned a small investment into multi millions, and are selling their franchise today for 5.2 million, its available on our website more details in a moment for those interested. After that I'll show you the little-known low cost franchise industries that are booming in 2023, and we'll look at how much money you can actually expect to generate as a franchise owner. We'll wrap up explaining why most buyers fail and end up buying a low revenue franchise.
We just listed a few new resale franchises for sale on our website, and did a video, link above and at the end. One listing is a great example of franchising making millionaires. This franchisee bought a franchise in home improvement for around $150K. At that range you probably need around $40-$50k down, finance the rest. They worked hard for a few years, built the business, built a strong 6 figure income while they ran it and today, they are selling the business for 5.2 million dollars. With around $50k down and good credit anyone can get into a low cost service based franchise, work hard for a few years building the business and exit a multi-millionaire. Now we can't publicly mention the name of the business but it is a service based brand in the home improvement sector generating 6.9m in gross, is located in Columbus Ohio, so if you are looking to step in and take over a very successful franchise give us a call.
Now most people don't have 5 million lying around to acquire a business what can they do?

McDonalds, Taco Bell, Burger King, all these brands cost over a million to buy. Service based franchises like the one we mentioned can be the best franchise for buyers on a budget.
"Service based" franchises cost much less as they are generally operated from a small office, sometime a home office and many can generate millions of dollars a year.

10,000 boomers turn 65 every day and are starting to need help around the house. Senior care franchises hire mobile caregivers to attend to these seniors in their homes and help with basic tasks. Due to the low investment, typically in the $100k-$200k range, projected growth of the industry, recession resilience, and potential earnings we put senior care as one of the best franchise options for 2023. If you watch the channel we covered one senior care franchise owner grossing over 55 million a year. In context the top earning McDonalds does around 10 million a year.

Fires, floods, mold, hurricanes are not going away and Disaster recovery franchises help homeowners recover. Investment from $60-$200k franchise owners hire and manage crews of experts who help people get their homes or business in order after a disaster. Industry is completely recession proof, you mostly deal with insurance companies so getting paid is easy, weather is becoming more extreme and demand is up, some brands demonstrate a top net yearly income of over $800k

Looks like we may be headed for a recession, interest rates are increasing which means people hold on to their cars longer. Automotive type franchises are a bit higher investment in the $300k range, but there are mobile options as well starting in the $60k range. In most cases owners don't need to be an experienced mechanic as you hire and manage your staff. Recession resilient, much lower cost than fast food, increasing market demand, and some brands average over $400k EBITDA for top 50% of their stores.

Guess what else people need in a recession no matter how bad the economy gets? Appliance, electrical and plumbing repair. Again, these can be started from a small warehouse or home office so a lower investment starting under $100k, you manage crews who go out in vans and help homeowners fix their electrical, plumbing or appliance related problems. Again, a need not a want so recession proof, when money tightens people stay in homes longer and often choose to fix rather than replace.

DISCLAIMER: Please remember there are many unique variables involved when you make your decision like your local market, demographics, competition, your own skills and operational preferences so take these examples as a general guide, and never trust those general franchise "top lists" we covered why on the channel before.

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RESALE FRANCHISES SEPT 2023: