What Makes Owning a Franchise Such A Smart Investment
When basketball legend LeBron James serves up Blaze Pizza, or football legend Peyton Manning appears for Papa John’s, they’re not just hired pitchmen, they’re actual franchise owners with a vested interested in promoting their brands. Peyton Manning reportedly owns 21 Papa John’s franchises around the Denver area and LeBron James was an original investor in Blaze Pizza in 2012, with franchise rights for the company in both Miami and Chicago.
It’s no coincidence that many celebrities — from rappers and actors to sports heroes — are bigtime franchisees. It’s a win-win branding and investing relationship. Franchises offer celebrities a turnkey system with branding, management structure, and support already in place, while celebrities offer their star power to promote their business. At the same time, celebrities have the means to purchase multiple franchise units at negotiable rates.
Wingstop is a franchise favorite of rapper Rick Ross. He reportedly owns nine Wingstop franchises in the Miami and Memphis areas and is so fond of their wings, he even sings about them in his song, “MC Hammer”. Wingstop offers new franchisee ongoing support through their operations consultants, plus a 14 day hands-on training program.
Another popular franchise is Taco Bell, which is ideal for celebrities because it allows for absentee ownership. Actor Rick Schroder is said to be a millionaire today because his parents invested the money he made as a child into Taco Bell franchises. Taco Bell is the best performing brand of its parent company, Yum! Brands, and has the added advantage of multi-branding with its sister eateries, KFC and Pizza Hut, attracting more customers and bigger profits.
Owning a franchise has many advantages, not just for celebrities, but anyone interested in owning their own business. And, there are a wide variety of franchises available — from restaurants and retail, to health clubs and recreation. For more information on buying a franchise, visit BizBuySell’s franchise directory.