If you’re a Black entrepreneur ready to invest in a new franchise opportunity, you’re probably wondering which brands are the most profitable franchises in general, and maybe for people of color specifically. Of course, this answer is going to vary based on a number of factors, from price to timeline to industry and more.
One number that potential investors look at when they are researching opportunities with the most profitable franchises is the Average Annual Sales/Average Unit Volume. This number (also known as the AUV) is reported in a franchisor’s Franchise Disclosure Document (FDD). In the case of Express Employment Professionals, our AUV is currently $6.1M.* This is considered a very high and profitable AUV, especially when prospective investors consider that our initial investment requirements ranges from just $150,000 to $250,000.
Express Gets Recognized as One of the Most Profitable Franchises for Black Entrepreneurs
Express was recently recognized in the list, “Top 25 Franchises for Black Entrepreneurs” by a leading national independent market research firm serving the franchise sector, Franchise Business Review (FBR).
The methodology that FBR used to create its list of the most profitable franchises for Black entrepreneurs included looking at high owner satisfaction scores among Black Franchise Owners. Each year, FBR surveys tens of thousands of Franchise Owners, and owner satisfaction is the first indicator, according to Eric Stites, FBR founder and CEO.
In addition to the business services staffing industry, other top franchises in the U.S. for entrepreneurs of color ranged across industries including real estate, travel and recreation, services, health and wellness, education, financial services and technology.
A Deeper Look Into Why Black Entrepreneurs Choose Franchising Over Independent Businesses
According to Franchise Business Review, “Black-owned franchises earn on average over two times more than Black-owned independent businesses.” Roughly 26% of franchises are owned by people of color, versus 17% of independent businesses.
According to Stites, “Black Franchise Owners tend to be from larger market areas, with 78% in cities of populations of 100,000+, and 50% in metro areas of 250,000+…and these opportunities are a good fit for more urban areas.” The researchers who helped create the list of best franchise brands for Black entrepreneurs found that these franchisees chose their brand opportunity because they thought it was a good fit for their local market and community, and a good investment for them.
What Do Black Express Franchise Owners Say About Owning A Top Franchise Worldwide?
“The best thing about being an Express Franchise Owner, to me, would be helping people. Of course, it gave me the work-life balance that I sought and the benefits of business ownership, but it’s also really helpful to me to be able to help people find their next job opportunity and hopefully change their life.” – Tracy Thompson, Franchise Owner, Dover-Middletown, DE
“There were several things I was looking for in starting a business and owning a Franchise, and Express has afforded me those opportunities. One was to spend more time with my family and two was to put myself in the position to earn the kind of money that I wanted. Express has done that for me. – Zach Daffin, Franchise Owner, Augusta, GA and Aiken, SC.
We’re Not Just a Top Franchise In the U.S., We’re a Top Franchise Worldwide.
If you are interested in becoming an Owner of one of the most profitable franchises, fill out the form below.
*For territories open more than 24 months, average sales in 2021 were $6,119,487. First-year offices averaged $900,049 according to Item 19 in the Franchise Disclosure Document.