The 5 Best Retail Franchises You Can Buy Right Now
Many of the best entrepreneurs -- people like Sam Walton or Steve Jobs -- aren't necessarily tech geniuses, engineers or marketers. They're salespeople first. They know how to convince others to give their product or service a chance, and then they make the most of that chance.
If you think you're cut from the same cloth as those great entrepreneurs, then investing in a retail franchise might be a good idea. Check out our slideshow of the top five retail franchises from the Franchise 500 list. Or, look at our full list of retail franchises for more investment ideas.
Related: Just How Much Does It Cost to Own a Fast-Food Franchise?
Related Video: Should I Franchise? Advice From a Shark Tank Star.
Entrepreneur Franchise 500 Rank: 1
Initial investment: $37,200 to $1,635,200
Initial franchise fee: $10,000 to $1,000,000
New units in 2016: 3,133 units (5.6 percent)
7-Eleven is the number one-store on the Franchise 500 list for a reason. The franchise been around since 1927 and has been franchiing since 1964, but it just never stops growing. As of 2016, there were 59,572 7-Eleven locations around the world, up 26,274 locations from 2006.
Entrepreneur Franchise 500 Rank: 4
Initial investment: $177,955 to $402,595
Initial franchise fee: $29,950
New units in 2016: 48 units (+16.7 percent)
The UPS Store is the well-known packaging, shipping and copy company that we all know and use. But, you might not know that The UPS Store is part of IFA's VetFran program, which means "military veterans may qualify to receive $10,000 off the franchise fee of a new center."
Related: 5 Affordable Franchises You Can Start for Less Than $10,000
Entrepreneur Franchise 500 Rank: 7
Initial investment: $272,500 to $1,561,500
Initial franchise fee: $5,000
New units in 2016: 91 units (+1.9 percent)
Like The UPS Store, you're probably already familiar with Ace Hardware. After all, the company has been around for almost 100 years (it was founded in 1924), and there were 4,931 locations across the world at the start of 2017.
Related: 5 Low-Cost Franchises You Can Start for as Little as $4,000
Entrepreneur Franchise 500 Rank: 22
Initial investment: $119,000 to $287,500
Initial franchise fee: $30,000
New units in 2016: 98 units (7.7 percent)
As of 2016, there were 1,363 Miracle-Ear Inc. stores across the country, up 12 percent since 2014.
One potential draw for investing in one of Miracle-Ear's hearing aid retail locations is that it only takes a couple of people to run. So, the initial six-figure investment might look a little steep, but your overhead costs afterward might not be as expensive.
Related: Our Top 10 Franchises You Can Buy
Entrepreneur Franchise 500 Rank: 24
Initial investment: $400,324 to $605,230
Initial franchise fee: $30,000
New units in 2016: -21 units (-3.8 percent)
There was a hearing-aid franchise on this list, so it only makes sense to have a franchise that helps with eyesight, too. Pearle Vision was founded in 1961 and started franchising in 1980. You can find a list of available territories, which includes Los Angeles, Chicago and Houston on the company website.