Richest Franchises in the US for 2024

Introduction

Vetted Biz is the leading platform for accessible and analytical data on franchises and businesses available in the U.S. Our research team has reviewed over 7,000 franchises and knows the key facts and data that signal a successful franchise system. Upon extensive review using a number of internet research tools, our team was able to compile a short list of the “Top 20 Most Popular Franchises in the United States.” In the article below we will review each of these 20 franchises and the requirements to join their prestigious franchise systems!

Top Franchises

1. Subway

Known for their unbeatable Spicy Italian combination, Subway was founded in 1965 by two young 17-year old friends – Fred DeLuca and Peter Buck. The concept’s business model allowed franchising to begin 10 years later and today the company currently has over 44,750 locations across more than 100 countries. Also, the total number of U.S. Locations is 21,147.

Amongst the requirements to become a Subway franchisee, the candidates must have some sort of business background, be a U.S. permanent resident or citizen, have a minimum net worth of $80,000 and liquid assets totaling at least $30,000.

The total investment amount to establish a Subway franchise ranges from $182,550 to $506,900 and once the restaurant begins operations, franchisees are expected to pay the parent company a Royalty Fee of 8% and a Marketing Fee of 4.5% on gross sales each. Subway was ranked #3 in QSR Magazine’s Top 50 Franchises of 2019, making it a popular option amongst candidates looking to enter the Quick Service Restaurant industry.

2. McDonald’s

Founded in 1948 by the two brothers, Maurice and Richard McDonald, McDonald’s currently has over 38,000 locations open across more than 119 countries. Also, the total number of U.S. Locations is 13,436.

Amongst the extensive requirements to join their renown franchise system, the company requires potential franchisees to have previously managed or owned a McDonald’s restaurant and to have a minimum net worth of $1,263,000 and liquid assets totaling at least $500,000. The total investment amount to establish a unit ranges from $481,000 to $2,450,000, and once operations begin, the franchisee is expected to pay the parent company a Royalty Fee and a Marketing Fee of 4% each.

Despite the high investment amount and meticulous profile the franchisor is seeking however, the franchise’s popularity remains high amongst potential investors, particularly given that Mc Donald’s was ranked #1 in QSR Magazine’s top 50 of 2019.

3. H&R Block

H&R was established in 1955 by two brothers, Henry W. Bloch and Richard Bloch. It is one of the most known tax preparation companies in the nation.

The company offers a range of services including payroll and business consulting, consumer tax software, and online tax preparation/electronic filing. All of these services are available from their website, and allow businesses and consumers to manage their finances more effectively and stay compliant with tax laws.

H&R Block currently has over 9,935 units across the United States, Canada, and Australia. Also, the total number of U.S. Locations is 9,226.

Among the requriements to become an H&R Block franchisee, the liquid capital required to start a franchise is $2,500. Also, the total investment amount to establish an H&R Block franchise ranges from $31,557 to $157,898. Franchisees are not required to pay any Marketing Fees to the corporate company, and the Royalty Fees variates.

H&R Block was ranked #49 in the 2022 Top Global Franchises Ranking, and was also ranked #1 in Tax Services Category.

4. Jan-Pro

Jan-Pro was founded in 1991 as a commercial cleaning service company catered specifically towards the “B2B” audience. The concept’s outright success allowed franchise to begin one year later and today the concept currently has over 10,000 units across the United States and Canada. Also, the total number of U.S. Locations is 8,603.

Amongst the requirements to become a Jan-Pro franchisee, candidates must have previous experience in business management, a minimum net worth ranging from $1,000 to $14,000 and liquid assets totaling at least $1,000.

The total investment amount to establish a Jan-Pro franchise ranges from $4,720 to $73,520 and once the franchise begins operations, franchisees are expected to pay the parent company a Royalty Fee of 10% on gross sales. For candidates looking to enter the cleaning and maintenance industry, Jan-Pro offers a good opportunity, particularly because they only had one unit closure by the end of the year.

5. Dunkin’

Dunkin’ Donuts began its story in 1948 when its founder, Bill Rosenberg, opened a donut and coffee restaurant in Quincy, Massachusetts called “Open Kettle” that sold doughnuts for five cents and coffee for ten cents. The concept’s growing success allowed the business to begin franchising 5 years later, and today, Dunkin’s stores can be found in over 32 countries. The total number of U.S. Locations is 8,010.

Amongst the requirements to become a Dunkin’ franchisee, the company is looking for experienced candidates who are willing to run the business on a daily basis, have a minimum net worth of $250,000 to $500,000 and liquid assets totaling at least $125,000 to $250,000.

The total investment amount to establish a Dunkin’ franchise ranges from $437,500 to $1,787,700 and once the store begins operations franchisees are expected to pay a Royalty Fee of 5.9% and a Marketing Fee of 5% on gross sales each. Dunkin’ was ranked #8 in QSR Magazine’s Top 50 of 2019, thus accounting for the franchise systems’ growing success amongst potential investors.

6. Burger King

Burger King was founded by Keith J. Kramer and Matthew Burns in 1953 as an american chain of fast-food restaurants specialized in hamburgers. Its first name was Insta-Burger King, but when David Edgerton and James McLamore purchased the company in 1954, they renamed it Burger King.

Today, Burger King is the second largest fast-food hamburger chain in the world, and it currently has over 19,250 units across the world. Also, the total number of U.S. Locations is 7,105.

The requirements to become a Burger King franchisee consist of a minimum net worth of $1,500,000 and liquid assets totaling at least $500,000.

The total investment amount to establish a Burger King franchise ranges from $230,000 to $4,194,700 and once the franchise begins operations, franchisees are expected to pay the company a Royalty Fee of 4.5% and a Marketing Fee of 4% on gross sales.

7. Domino’s Pizza

Domino’s Pizza’s story began in 1960 when brothers Tom and James Monaghan purchased a pizza shop for $500 in Michigan called DomiNick’s. Franchising began 5 years later after the concept’s growing success, and today Domino’s currently has more than 17,000 stores in over 60 countries and across 6 continents. Also, the total number of U.S. Locations is 6,597.

Amongst the requirements to become a Domino’s Pizza franchisee, candidates must be willing to personally oversee store operations on a daily basis, have a minimum net worth of $250,000 and liquid assets totaling at least $75,000.

The total investment amount to establish a Domino’s Pizza franchise, ranges from $101,450 to $582,500 and once the restaurant begins operations franchisees are expected to pay the parent company a Royalty Fee of 5.5% and Marketing Fee of 4% on gross sales. Domino’s was recently named the #1 pizza chain and ranked #9 in QSR Magazine’s top 50 of 2019, making it a popular option for candidates looking to enter a pizza franchise system.

8. Bimbo Bakeries

Bimbo Bakeries is the american corporate arm of Grupo Bimbo, a Mexican multinational baking company founded in 1945, which is the world’s largest one with operations in 33 countries. The total number of U.S. Locations is 6,026.

Amongst the requirements to become a Bimbo Bakeries franchisee, the minimum total investment amount to establish a franchise ranges from $15,425 to $607,850, and franchisees are not expected to pay any Royalty Fee or Marketing Fee on gross sales. Bimbo Bakeries is the largest commercial baking company in the United States.

9. Ameriprise

Ameriprise began its story in 1894 when John Tappan and J.R. Ridgway founded this financial services company in Minneapolis, Minnesota.

The company provides financial advice to its clients, also personalized portfolio recommendations, and regular meetings to review and analyze goals, progress and investments. The total number of U.S. Locations is 6,016.

The minimum investment amount to establish an Ameriprise franchise ranges from $11,434 to $127,565. Once the store begins operations, franchisees are expected to pay a Royalty Fee of $290 per month, and they are not required to pay any Marketing Fee. Ameriprise was ranked 245th on the Fortune 500 list in 2022, and it is on the list of largest banks in the USA.

10. Wendy’s

Wendy’s was founded in 1969 by Dave Thomas, in Columbus, Ohio. This fast food chain has grown to become the thrid largest hamburger fast food chain in the world, following Burger King and Mc Donald’s. Today Wendy’s currently has more than 7,000 stores around the world. Also, the total number of U.S. Locations is 5,938.

Amongst the requirements to become a Wendy’s franchisee, candidates must have extensive restaurant experience with operational, administrative and financial resources, have a minimum net worth of $1,000,000 and liquid assets totaling at least $500,000.

The total investment amount to establish a Wendy’s franchise, ranges from $329,500 to $3,693,000 and once the restaurant begins operations franchisees are expected to pay the parent company a Royalty Fee of 4% and Marketing Fee of 3.5% on gross sales.

11. Circle K

Circle K began its story in El Paso, Texas in 1951, when Fred Hervey founded a convenience store. After 71 years of relentless success, Circle K currently has more than 11,127 stores worldwide. Also, the total number of U.S. Locations is 5,897.

Amongst the requirements to become a franchisee, the minimum investment required to open a franchise ranges between $189,250 and $1,927,640. Circle K was ranked #52 in Entrepreneur’s Franchise 500 Ranking, and #32 in the Top Global Franchises in 2022.

12. Jazzercise

Jazzercise was established in 1968 by Judi Sheppard Missett as a fitness company in Evanston, Illinois.

The company started franchising in 1982, and 40 years later has an estimated of 7,761 units in 32 countries. Also, the total number of U.S. Locations is 5,844.

Among the requirements to become a Jazzercise franchisee, the total investment amount to establish a Jazzercise franchise ranges from $2,445 to $21,775. Franchisees are not required to pay any Marketing Fees to the corporate company, and the Royalty Fee is of 20%.

13. Jackson Hewitt

Jackson Hewitt is a leading provider of full-service individual federal and state income tax preparation, electronic filing, and refund anticipation loan services, which began its story in 1985. After 37 years of relentless success, Jackson Hewitt currently has a total of 5,483 U.S. Locations.

Amongst the requirements to become a franchisee, the minimum investment required to open a franchise ranges between $42,500 and $81,805.

14. Jani-King

Jani-King is a cleaning company established in 1969. After 53 years of relentless success, Jani-King currently has more than 7,500 franchisees around the world. Also, the total number of U.S. Locations is 5,394.

Amongst the requirements to become a franchisee, the minimum investment required to open a franchise ranges between $20,354 and $51,840. Franchisees are expected to pay a Royalty Fee of 10% and a Marketing Fee of 1.5% on gross sales. Jani-King is the world’s largest cleaning franchise company.

15. Pizza Hut

Pizza Hut opened its first store in Wichita, Kansas in 1958 after its founders, brothers Dan and Frank Carney, borrowed $600 from their mother to finance their pizza dreams. The concept, whose business model is focused on creating food that is served and delivered at a fast pace, currently has over 5,317 locations in the United States and another 11,000 franchised stores across international markets.

Amongst the requirements to become a franchisee, Pizza Hut requires candidates to be willing to work on their location on a daily basis and to have enough capital to commit to opening at least two locations throughout their time as a franchisee, which includes having a minimum net worth of $700,000 and liquid assets totaling at least $350,000.

The total investment amount to establish a Pizza Hut franchise ranges from $367,000 to $2,063,500 and once the restaurant begins operations, franchisees are expected to pay a Royalty Fee of 6% and a Marketing Fee of 4.75% on gross sales. Pizza Hut was ranked #11 in QSR Magazine’s top 50 of 2019, making it a popular choice amongst candidates looking to open a franchise within the Quick Service Restaurant industry.

16. The UPS Store Traditional

The UPS Store started off as “Mailboxes Etc” back in 1980, when it functioned as an alternative service to the U.S. post office. The concept continued to grow exponentially, particularly after their acquisition of UPS and today their franchise system currently has over 5,000 stores across Canada, Puerto Rico and the United States. The total number of U.S. Locations is 5,037.

Among the requirements to become a franchisee, candidates must have a minimum net worth of $150,000 and liquid assets totaling at least $60,000.

The total investment amount to establish a UPS Store ranges from $154,745 to $508,472 and once the store begins operations, franchisees are expected to pay a Royalty Fee of 5% and a Marketing Fee of 2.5%.

The UPS Store, had an average adjusted gross sale of $494,418 across all centers in 2018, a number that was exacerbated particularly due to the growth rate of 2.1% within the packing and shipping service industry from 2015 to 2020.

17. Coverall

Coverall was founded in 1985 as a cleaning company, which offers cleaning and maintenance services. It’s based in Deerfield Beach, Florida. The concept’s growing success allowed the business to currently have over 8,100 units as of 2022. Also, the total number of U.S. Locations is 4,803.

Amongst the requirements to become a Coverall franchisee, the total investment amount to establish a Coverall franchise ranges from $18,612 to $51,391 and once the store begins operations franchisees are expected to pay a Royalty Fee of 5% on gross sales. It is not required to pay any Marketing Fee. Coverall was ranked #15 in Entrepreneur’s Fastest-Growing Franchises (U.S. & Canada) Ranking of 2022.

18. Ace Hardware

Ace Hardware began its story in 1924 when four hardware store owners joined together to buy merchandise in bulk in order to maximize their profits and consequently be able to compete effectively with larger stores. After years of initial success and considerable expansion across the country, franchising began in 1976 and today the concept currently has 5,000 independently owned stores operating across the glove. Also, the total number of U.S. Locations is 4,751.

Amongst the requirements to become an Ace Hardware franchisee, candidates are required to be passionate about local customers, have a minimum net worth of $400,00 and liquid assets totaling at least $250,000.

The total investment amount to open an Ace Hardware franchise ranges from $292,000 to $1,624,230 and franchisees are not required to pay any royalty or marketing fees to the corporate company. Ace Hardware was ranked #13 on Entrepreneur’s Franchise 500 list in 2019, making it a popular franchise option to invest in.

19. Great Clips

Great Clips was founded in 1982 by Steve Lemmon and David Rubenzer, in Minnesota. This hair salon currently has almost 4,450 stores. The total number of U.S. Locations is 4,447.

Amongst the requirements to become a Great Clips’ franchisee, candidates must have a minimum net worth of $300,000 and liquid assets totaling at least $50,000.

The total investment amount to establish a Great Clips franchise, ranges from $178,400 to $376,900 and once the franchise begins operations franchisees are expected to pay the parent company a Royalty Fee of 6% and Marketing Fee of 5% on gross sales. Great Clips was ranked #1 in the Hair Care Category on the Entrepreneur’s Ranking in 2022.

20. Little Caesars

Little Caesars opened its first store in Garden City, Michigan, in 1959 after its founders, Mike and Mirian Ilitch, invest their life savings into their first pizza store. The total number of U.S. Locations is 4,181.

Amongst the requirements to become a franchisee, the total investment amount to establish a Little Caesars franchise ranges from $378,700 to $1,695,500 and once the restaurant begins operations, franchisees are expected to pay a Royalty Fee of 6% and a Marketing Fee of 7% on gross sales.