What is the most profitable franchise industry in 2023 – higher than any food franchise?
Lets compare!
The average Subway has revenue of $450,000 a year and costs about $300,000.
It will cost you about $2,000,000 million to open a Macdonalds, with average revenue of $3,000,000. In 2022 the highest earning store had revenue of about $16,000,000.
Eeven Chik-Fil-A, the most profitable franchise in the food industry does about $8,000,000 per store.
So what industry has the highest earning single unit in 2023 – Senior Care. One operator earned $55,000,000 from one location in 2022 – with an initial investment of only $150,000.
For 2022 the most profitable franchise was in senior care. In past years we have seen the most profitable franchises in the sign industry, in roofing and in the automotive industry.
If you have a good professional networks and confident B2B sales skills there are very profitable franchise options in the business services industries
There are many things that motivate people to purchase a franchise, however usually the number one goal is to have a proftable franchise. Many things determine whether or not a franchise will be profitable.
The systems, training, marketing and ongoing support are very important. However, the number one thing that will determine whether your franchise will be profitable is how well the franchise’s business model and culture fit with your background, skills and values.
For more discussion about this check our this article: – https://franservice.ca/2023/04/14/franchise-buyers-best-options/
Check out the number source for information about franchises on YouTube: – https://www.youtube.com/@FranchiseCityOnline