If you are entrepreneurial-minded and living in the great state of Maryland, you’re in the right place. Limitless franchise opportunities in Maryland are ripe for the picking — anything from auto insurance businesses to smoothie cafes and everything in-between. Also, consider that Maryland offers one unique and powerful advantage.
By being next to the nation’s capital, businesses in Maryland have an advantage like nowhere else in the country. As you probably already know, Washington, D.C. is the home of our nation’s federal law-making bodies and high-stakes political activity. Hence, politicians come and go from the area on a daily basis. If your franchise happens to catch the attention of some of the country’s most influential and well-traveled people, they might spread the word of your business’s appeal, giving your operation a chance to expand like no other.
Yes, digital marketing is all the rage these days, but word of mouth from one high-profile politician could still mean the proliferation of your entrepreneurial brand from sea to shining sea and beyond.
With an understanding of that unique advantage, you might be wondering how to get started. Investing in one of the available franchise opportunities in Maryland is a lot like most other states. The first thing for most entrepreneurs is to get over any fear of failure. After all, a franchise offers a proven track record, support to help you get started and maintain operations, and instant brand recognition. Check out this recent article from Business News Daily for an excellent how-to-get-started guide.
After reading those instructions, you might be thinking, “OK, this sounds like an idea worth investigating, but how much money can franchise owners make?” According to a recent study by the Franchise Business Review, top performers (about 16% of all franchise owners) earn over $200,000 per year. The salary may differ according to industry, however. For example, a food and beverage service owner might make much less than the operator of an auto insurance franchise in Maryland.
Your next thought might be to find out what the current top-performing franchises are in Maryland. After all, everyone wants to invest in a winner.
The best performing Maryland franchise opportunities have some slight variances when compared with other states, but one industry remains a powerful presence, which is the food and beverage category. These businesses are not only one of the most popular franchises to invest in, but they’re also some of the best performers. They can, however, require a high initial investment. Also, remember that these business owners don’t make quite as much return on investment as other franchises.
Fitness Together provides a good opportunity for those looking to counteract the trend of fast food and casual dining. It’s also not as expensive to buy. However, running a fitness center isn’t for everybody, and with recent pandemic issues, who knows what the future of fitness centers holds? Some other franchises that have proven to be profitable in the area include Executive Care, Pearle Vision, and PuroClean.
While all those choices are current top performers, why not buck the trend of those traditional options, which may be tapped out for growth, and go with a potentially high-demand regional need?
Ultimately, the final decision of what business you want to invest in is up to you. Every entrepreneur must follow their individual passion. There are indeed plenty of great options in food/beverage, cleaning services, and educational centers. Even so, if you’re looking for an industry that is a little more untapped, it’s worth considering something like an insurance franchise in Maryland.
If you’re interested in learning more about insurance franchise opportunities in Maryland, contact Freeway Franchise at (877) 822-3024 or fill out our quick and easy online form here. Our decades of experience and expertly trained support staff can get you set up for success as soon as you’re ready!