The 8 Best Franchises to Open That Support Businesses During an Economic Recovery
The global economy is showing some signs of life amidst the Coronavirus pandemic, with employment rising and a number of other business indicators picking up. However, many businesses and industries still face an uncertain future, and some larger corporations have signaled impending layoffs, so it's natural to wonder if now is the best time to buy a franchise.
This kind of environment favors franchises that support other business owners, and we believe that these franchise are the eight best for supporting other business owners during an economic recovery. For information on these franchises' requirements or to learn more about other franchises for sale, please visit our Franchise Opportunities page.
Small Business Lending Franchises
While the PPP loan program provided support for some businesses, its funds have largely expired and future funding is unclear. Companies like Lendio can help fill the gap for business owners looking for capital. In addition to access to federal programs, Lendio offers a full suite of loan products including lines of credit, commercial mortgages, equipment financing, and business acquisition loans. Lendio's model allows a business owner to use a single application to shop from a number of banks and other loan sources, saving time and helping to find the best deal. The company has been franchising since 2016. To learn more about purchasing a franchise from Lendio, click here.
Expense Reduction Analysts
As their name implies, Texas-headquartered Expense Reduction Analysts franchisees help businesses cut costs and improve cash flow, which is a critical need in turbulent economic times. The company has been highly successful, expanding to more than 650 franchises in 30 countries since beginning its growth in 1992. Expense Reduction Analysts focuses on 13 industries, including hospitality, retail, healthcare and education, which have all been hit hard by the COVID-19 pandemic. To learn more about buying a franchise from Expense Reduction Analysts, click here.
Business Broker Franchises
The franchises below offer opportunities to sell or buy a business, but also provide growth coaching, which can be a critical need depending on your current situation.
First Choice Business Brokers
First Choice provides business valuation services as well as serving as broker for individuals interested in buying or selling a business. The company also provides business search services, as well as guidance on the process of purchasing a company, which makes it an ideal fit for a first-time franchisee. Headquartered in Nevada, First Choice Business Brokers has offices in 18 states and has been franchising since 2006. Click here to learn more about purchasing a franchise with First Choice Business Brokers.
Frannet is an ideal source for individuals considering entrepreneurship or purchasing a business for the first time. The company's model is offered at no cost to prospective franchisees, instead earning revenue from commissions on business sale transactions, which makes it an ideal fit for potential business owners who need a bit of coaching to understand what business, and lifestyle, will work for them. Frannet has been franchising since 2006 and offers free consultations and assessments for those looking to purchase a business. To learn more about Frannet franchising opportunities, click here.
Transworld Business Advisors
Florida-based Transworld has been helping individuals sell and buy businesses for more than 40 years. The organization also offers franchise consulting and franchise development services for individuals who are new to business and franchise ownership. Transworld operates in more than a dozen countries, and has hundreds of businesses for sale in its portfolio at any given time. To inquire about purchasing a franchise with Transworld Business Advisors, click here.
Murphy Business Sales
One of the U.S.'s larger business brokers, Murphy Business Sales offers a number of additional services beyond listings of businesses for sale. Murphy franchisees offer business valuation, merger & acquisition support, business consulting, commercial real estate sales and equipment appraisals, making them an ideal destination for individuals looking for a trade or manufacturing-based business. By virtue of its size (Murphy operates in 38 states and Canada), the company has more than 1,000 businesses for sale in its portfolio at any given time. Murphy Business Sales has been franchising since 2006, and you can review franchise purchase opportunities with them at this link.
VR Business Sales
VR stands for "Valued Representation," which is what this family owned franchisor strives to provide to its customers. VR Business Sales focuses on helping entrepreneurs enter or exit their business, and is proud of the fact that it helps business owners hit their asking price during sales. The company operates around the world, but only lists business for sale in the U.S. and Canda. To learn more about franchises for sale at VR Business Sales, click here.
We Sell Restaurants
We Sell Restaurants was founded by a husband-and-wife team with deep experience in this unique industry, and their experience may be needed now more than ever. The company sells everything from chain franchise locations to independently owned restaurants, and also features lease opportunities. To learn about We Sell Restaurant franchises for sale, click here.
Entrepreneurship and Business Coaching Franchises
A difficult economy can present a number of unique challenges for franchise owners, and these businesses may be ideally positioned to help chart a course forward.
Advicoach franchisees provide business coaching services in areas like lifestyle planning, time management, and wealth planning. They focus heavily on accountability to help push their customers forward, and specialize in working with small to medium business owners. To review Advicoach franchises for sale, click here.
The Entrepreneur's Source
The Entrepreneur's Source helps individuals at a career crossroads with coaching that helps them transition to self-employment, and their services will likely be in high demand from individuals who have found themselves recently laid off or struggling to find their next opportunity. The company began in Southbury, Connecticut 35 years ago, and has helped thousands of individuals either change corporate careers, go into business for themselves, or explore franchisee options. To learn more about potential franchise opportunities with The Entrepreneur's Source, click here.
The Growth Coach
Cincinnati-based The Growth Coach franchisees help their clients achieve increased business performance by offering business and sales training workshops in areas like performance management, team building, and sales mastery. Trainings are presented in a number of series, which help business owners move from fundamentals to growth in rapid succession. The Growth Coach has been franchising since 2004, and you can review franchises for sale at this link.