A lot of motivated individuals are attracted to the wide range of franchise opportunities available today. The same applies to those who are already in the franchise business – they want bigger and more lucrative opportunities. As a solution, entrepreneurs who are seeking for more can consider tapping into master franchise opportunities. Unlike in a regular franchise venture, where the setup entails a small business owner to have an agreement with a larger company (the franchisor) to use its brand and sell its services or products, a master franchise allows entrepreneurs to sub-franchise in a specific territory, which often results to impressive prospects. To further guide you on this topic, below is a compiled list of the 10 most popular.
Franchises offering master franchising
Generally, a master franchise manages two separate businesses – one stands as a single franchise and the other as company expansion. As such, an extensive set of skills is required, which is also the reason why the kinds of entrepreneurs who succeed in operating franchises differ significantly. The franchise opportunities vary widely as well, covering markets that range from car repair to pet care.
As a guide for entrepreneurs who want to pursue opportunities in master franchises, listed below are the top 10 from various industries:
· ServiceMaster Clean – a company with a solid footing in the cleaning industry. It is reputed for its superior quality of service.
· ProntoWash – a global leader in the car wash field. It offers convenient and environment-friendly services.
· Tossed – A franchise enterprise in the health/food industry with a huge potential for growth.
· Heits Building Services – A company that has established a reliable name in the commercial cleaning niche.
· Tasti D-Lite – A company with a highly popular trademark product. It offers franchises across the US.
· Max Muscle Sports Nutrition – A company that’s very well-known within the sports nutrition and weight loss industries.
· Maid to Sparkle – An established company offering franchises in the residential cleaning market.
· Russell Watergardens & Koi – A company with a widely known brand and a firmly established national presence.
· Spring Green Lawn Care – A company that provides its franchisees with financial security, flexibility, and freedom.
· All American Ice Cream and Frozen Yogurt – A fast-growing company in the frozen yogurt and ice cream market.
The company names mentioned above are all promising and highly profitable master franchise investments. They prove to be very viable options among aspiring entrepreneurs. You should remember though, that while these opportunities are great business prospects, they require responsibilities from prospective franchisees. When you become a master franchisee, you will be responsible for enlisting other individual franchisees, as well as giving them the necessary support and training. In addition to that, you need to know more about the market, the parent company, and the target area that you are eyeing.
Mastering the Master Franchise Agreement
A master franchise agreement generally covers three major points:
1) Master franchise fee – should be paid before you begin operations.
2) Franchise fee – shared with the franchisor after a successful sale to a new franchisee.
3) Franchise royalties – also shared with the franchisor.
You may be required to provide support and training to new franchisees, depending on the terms stated on the franchise agreement. You may also need to get the approval of the franchisor for any new franchise agreement. Furthermore, some single franchise agreements have an option for an upgrade to a master franchise agreement. This is a very lucrative option, especially if you have already mastered your local market and are aiming for major expansion and development possibilities.
Do you think you’re ready to exploit the market to its full potential and become a master franchisee?