The top 7 technology franchises for aspiring entrepreneurs
Digitization has been a business buzzword for the better part of the 21st century. As technology advances, every aspect of our lives — from how we communicate, to healthcare, and beyond — seems to be turning digital. While digitization makes processes more convenient and efficient for some, it requires adjustment for others. For entrepreneurs considering starting a business of their own, technology franchises present a unique opportunity.
Despite what you might think, opening a technology franchise does not require a degree in computer science or electrical engineering. A certain degree of business acumen and a drive to succeed are all that is needed to be the proprietor of a technology franchise — most franchises provide the necessary training to get the franchise up and running, anyway. This month, BOSS examines the top technology franchises that can help aspiring franchisees take advantage of a growing market.
uBreakiFix – Cell phones, tablets, computers, video game consoles — all items which are integral parts of the daily lives of millions of people. uBreakiFix offers same-day repair on all of these important pieces of electronics, from cracked screens to water damage and other technical issues. Franchisees will undoubtedly find the average second year income of $648,000 for the franchise’s top 25 locations appealing. A three-week training program in Orlando followed by an additional three weeks of onsite training in the new store prepares new owners for success in this technology franchise.
Wireless Zone – The largest Verizon franchisor in the US, Wireless Zone is a technology franchise that presents the opportunity for entrepreneurs to cash in on the coming transition to 5G technology. Verizon is set to be the first provider to bring 5G to its network, a development that should lead to an increase in subscribers and mobile device sales at Wireless Zone. Training takes place at Wireless Zone University in Rocky Hill, Conn., and continues through regularly scheduled franchise meetings.
CMIT Solutions – Providing IT solutions to small and medium-sized businesses not only fills a growing need, it can be very profitable. Regularly ranked as one of the top technology franchises in the US, CMIT Solutions is a way to get into a financially rewarding market with very low overhead. The franchise claims that many of its most successful franchisees had no background in IT before starting their business. CMIT’s Launch Program helps new franchisees get the training they need to get their business started and its Mastermind Groups provide continued peer-to-peer support.
Multivista – This technology franchise focuses on the construction industry and helps companies keep tabs on their latest projects through drones, aerial photography, 3D modeling, virtual walkthroughs, webcam services, and more. Franchisees benefit from more than 350 hours of classroom learning combined with 26 hours of on the job training, as well as advertising templates, social media and email marketing, and more.
Digital Doc – In addition to fixing damaged electronics, Digital Doc buys and sells previously owned cell phones, tablets, and computers. A two-week training program in Peoria, Ill., is available to franchisees and as many employees as they would like to bring. Ongoing training is available through a two-way video system that allows franchisees and employees to log in and participate in trainings and ask questions.
TeamLogic IT – Digitization has led to an increase of small to medium-sized businesses needing IT solutions. TeamLogic IT is a technology franchise that allows entrepreneurs to get in on a sector worth $340 billion per year in the US. Executive Vice President Chuck Lennon explains, “Our sweet spot, and where we do well, is in working with the companies that have outgrown their local IT service provider but are still too small to work with an enterprise IT company,” New franchisees receive six hours of on-the-job training as well as 38 hours of learning in the classroom.
Cartridge World – The largest ink and toner retailer in the world, Cartridge World has been providing homes and businesses with printing services since 1988. Franchisees have the opportunity to be part of a well-established technology franchise quickly. A storefront is optional with this franchise and its Executive Franchise Model helps new partners get started with very low overhead. Training and support along with digital marketing assistance are provided.
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Living in a digital world presents a lot of opportunities for savvy entrepreneurs. Technology franchises offer the freedom that comes with owning your own business combined with the opportunity to make a significant profit in an ever-growing field. With the amount of training provided by the top technology franchises, anyone with the right mindset and dedication to their business can succeed.