Franchises can be discovered in many different ways. Franchise expos can give you a snapshot of many different industries and opportunities under one roof. A franchise consultant can take a closer look at your unique situation and let you know which franchise is best suited for you. Much franchise information can be found at an online franchise directory. A list of the top franchises available can also be found in Entrepreneur Magazine each year.

"We're a very nimble retailer," says #1 franchise CEO Joseph DePinto. "Although we're a global company, we act and operate our stores as if they're local. So [franchisees] can take advantage of local trends and local products that customers want." The 7-Eleven franchises offer their franchisees more freedom than the typical franchise business. For instance, last summer twelve of the stores were turned into Kwik-E Marts, complete with products like Krusty-Os cereal and Malt-o-Meal to promote the new Simpsons movie. To better service the Latino market, 7-Eleven partnered with Anheuser-Busch to develop Chelada beer made with beer, clam sauce and tomato juice. This flexibility has allowed the franchise to proliferate in diverse markets and expand to offer common items like bread, milk and newspapers.

Seven out of ten franchises are fast food franchises. Subway comes in at #2 after fifteen years at #1. This year, the healthy sub shop (with startup costs from $76,100 to $227,800) has grown to 28,000 franchised stores worldwide. The 5,451 US Dunkin Donut franchises have been in the top 10 since 2004, with its fair trade espressos, cappuccinos and breakfast items. Pizza Hut comes in at #4, with 9,881 restaurant franchises and startup costs from $1.1 to $1.7 million. McDonald's has made the top spot eight times and the top 10 twenty-seven times. To open a McDonald's franchise, it will require $506,000 to $1.6 million in startup costs. Sonic Drive In Restaurants, KFC, InterContinental Hotels Group, Domino's Pizza and ReMax Realty are also in the top 10.

Franchises tend to be successful because they operate on a standard business model that's been tested, tried and true. While franchisees sacrifice some of their own leadership and decision making capacities, they can become successful by working with an established name brand. With all the fees, royalties and operating costs, the profit margin isn't huge for these stores but most franchise owners can live quite well off their efforts. The Franchise 500 represents a variety of different franchises and can be a helpful tool in choosing the right industry.

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