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What is the best franchise to buy? McDonald's is near the top of the list.
- Buying a franchise is a personal decision people make based on a number of factors.
- If you're looking for a place to start, Entrepreneur magazine compiles a list of the top 500 franchises in the US every year.
- Here are this year's top 10 franchises on Entrepreneur's 2019 Franchise 500.
- Visit Business Insider's homepage for more stories.
What is the best franchise to buy?
According to experts, it depends on what you're looking for. But, Entrepreneur magazine has a good list to start your search.
Entrepreneur recently released its annual Franchise 500 list. The list analyzes factors including costs and fees, growth opportunity, franchisor support, and brand strength to calculate which franchises are top picks for potential franchisees.
Franchise industry expert Joel Libava warns against taking the Franchisee 500 and other similar lists as pure instruction. For example, someone with little experience or interest in food service would be ill-suited to open a McDonald's franchise.
"Use [lists] as a good starting point, but don't look at them just because this publication said there are top franchise. ... You need to do the homework, because the top franchise for Entrepreneur magazine may not be a top franchise for you," Libava said.
However, lists like the Franchise 500 can serve as a good jumping-off point for people looking into franchising. Investment includes franchise fees and startup expenses like real estate and supplies.
Read on for Entrepreneur's take on the top 10 franchises in the US in 2019.