With a steadily rising economic power, the attraction to franchising by minority communities has increasingly become popular. There are significant companies largely considered successful that offer franchise opportunities to minorities. This will be music to the ears of any investor looking to invest in such opportunities.
Whatever your motivations are, owning a business or part of a franchise requires a great deal of dedication. First off, you need to find such a company interesting. In other words, you shouldn’t invest in any franchise opportunity you aren’t drawn to. So, are you ready to find out what these opportunities are? Let’s get to business.
Best Minority Franchises to Buy
There are significant franchise opportunities minorities can invest in. Examples include Jamba Juice, 7-Eleven, Papa John’s, Subway, Pure Green Juice Bar, Jimmy John’s, Dunkin’ Donuts, Auntie Anne’s Kona Ice, and Pure Green Juice Bar, etc.
i. Jamba Juice
With over 20 years of successful operations, Jamba Juice presents an investment opportunity to candidates wanting to join its franchise program. Since the company was launched in 1990, it has grown to over 748 offices, including company-owned and franchise outlets.
Jamba Juice requires interested franchise candidates to meet its minimum investment of $110,000 to $520,800. The Jamba Juice’s advantage lies in its simple business model with streamlined operations. It also has a world-class team, an iconic brand, and the opportunity to create wealth.
ii. 7-Eleven
As a minority, you’ve been presented with the opportunity to own a 7-Eleven franchise opportunity. This is a retail franchise attached to a gas station. If this sounds like something you’d love to do, you can take advantage of the opportunity to invest. Franchise candidates only need to follow its simple application process.
The process includes reviewing your qualifications, applying, assessments & meetings, picking your stores, offering, beginning training, and celebrating success. All through this process and beyond, you’re given all the support you need to grow your business.
iii. Papa John’s
The Papa John’s franchise opportunity is yet another one you can grab as a minority. This is a significant restaurant business with over 5,000 units worldwide. The company seeks candidates with a past restaurant or retail experience and business professionals with management experience.
Is this the perfect franchise opportunity for minority members? The answer depends on details found on its application page. You’re given a full disclosure of what the opportunity is about. You also get to speak with existing franchisees to determine their perception.
iv. Subway
Subway presents a low-cost restaurant investment for interested and qualified candidates. Here, you get the opportunity to join a global brand with a vision for success and to flex your franchise acumen.
Different franchise options are presented for you to pick from. They include drive-thru, non-traditional, and inline franchise options. The financial requirement for owning a Subway consists of a net worth of $150k liquidity per location.
To join, follow its simple process that includes inquiry & research, connecting & apply, selecting a restaurant location, Subway franchise award, building out your restaurant, and training.
v. Pure Green Juice Bar
From its national brand presence to full-service support, competitive costs, and high-quality tasteful superfood products, Pure Green Juice Bar presents an exciting investment option to interested persons. Its franchisees enjoy privileges like site selection & leasing, equipment & furniture, and system & processes.
Other benefits include staffing & training, as well as product supply. Are you eligible for this opportunity? Find out by filling out its inquiry form. The details supplied are used to assess your preparedness for this opportunity. This will include areas like capital or investment amount.
vi. Jimmy John’s
Owning a Jimmy Johns comes with an investment of about $329,500 to $557,000. This excludes real estate purchase costs. Other financial details include a franchise fee of $35,000, an ongoing fee of 6% of gross sales, and an ad royalty fee of 4.5% of gross sales.
The net-worth requirement is around $300,000, while liquid cash is about $80,000. Robust support is offered to all Jimmy Johns franchisees. This covers on-the-job, classroom, and additional training for managers and assistants. Further details are found on its franchise site.
vii. Dunkin’ Donuts
Dunkin Donuts has a presence in Germany and Spain for its international operations. However, it has its sights set on future markets like Belgium, Norway, Ireland, Nigeria, Italy, France, Turkey, Portugal, Morocco, Japan, Finland, Tunisia, and Japan.
It seeks candidates with experience in multi-unit Quick Service Restaurants (QSR), adept at negotiating prime real estate, sufficient capital, and organizational structure to own, operate, and support a network of multiple restaurants in major cities.
viii. Auntie Anne’s
Auntie Anne’s presents a fantastic franchise opportunity to join for franchise candidates seeking to own a reputable restaurant brand. This pretzel maker offers its franchisees a wide range of support that includes extensive training, the use of a reputable brand, a reliable supply chain, and experience.
The franchise ownership process involves several steps, including the application stage and due diligence and instruction to proceed. There are other processes like location and legal, build & training, and lastly, the grand opening of your franchise outlet.
ix. Kona Ice
Kona Ice allows you to be fully involved in its community. This shaved ice franchise offers quick & easy startup. It also comes with a low-cost investment and has no brick-and-mortar location. In other words, this mobile franchise significantly cuts down on your overhead.
In terms of benefits enjoyed, Kona Ice offers round-the-clock equipment support staff. Your business is backed by a team of creative and marketing specialists that include animators and designers. You get to attend an annual Kona Konvention, amongst other things.
Tips for Choosing the Right Franchise
It’s not enough to have a list of minority franchise opportunities without knowing how to pick a suitable investment. First off, you’ll need to thoroughly research the market and ask existing franchisees about the pros and cons of joining.
Analyze the financials. This is necessary to help you clearly understand the business model and projections. Have a clear idea of all the fees involved. This is very important as it helps avoid surprises. Do you have the skills and attitude required for the franchise? Do you have contingency funds? These and more are crucial to success.
If you’ve read to this point, you can find out more details about the opportunities mentioned above.
