If you're considering immigrating to the United States and starting your own business, the E-2 visa may be an attractive option. This visa allows individuals from certain countries to invest in or purchase a business in the U.S. and obtain a visa to work and live in the country for a period of time.
If you're applying for an E-2 visa and are interested in purchasing a franchise, remember not all franchises work! So make sure to consult with your legal counsel before committing to purchasing a franchise for E-2 purposes.
Once your attorney gives you the green light on what type of franchise you can acquire, one of the most important decisions you'll need to make is which franchise to buy. Franchises offer a number of advantages to E-2 visa applicants, including a proven business model, established brand recognition, and ongoing support and training. However, not all franchises are created equal, and some may be more suitable for your needs and qualifications than others.
In this blog post, we'll take a closer look at some of the best franchises to buy if you're applying for an E-2 visa.
1. Fast food franchises
Fast food franchises are a popular choice for E-2 visa applicants, as they offer a simple and well-established business model that can be easily replicated in different locations. Some popular fast food franchises include McDonald's, Subway, Dunkin', and Pizza Hut. Like other established franchises, fast food franchise operations offer ongoing support and training. The investment required for fast food franchises can range from around $50,000 to over $1 million. For example, according to Franchise Direct, the initial investment for a McDonald's franchise is typically between $481,000 and $2.4 million, while the initial investment for a Subway franchise, ranges between $182,000 and $506,000.
2. Service-based franchises
Service-based franchises are another popular choice for E-2 visa applicants, particularly those with a background in a particular industry or skill set. These franchises include businesses such as cleaning services, home repair and maintenance, and education and tutoring services. Some popular service-based franchises include Merry Maids, Mr. Handyman, and Kumon Learning Centers. The investment required for service-based franchises can range from around $20,000 to over $100,000. For example, according to ifpg.org, the initial investment for a Merry Maids franchise is typically between $89,000 and $125,000 while the initial investment for a Mr. Handyman franchise, based on the information listed on its website is typically between $118,000 and $150,000.
3. Retail franchises
Retail franchises can be a good option for E-2 visa applicants with a background in sales or customer service. These franchises typically require a higher investment than fast food or service-based franchises, but offer the potential for higher profits as well. Some popular retail franchises include The UPS Store, 7-Eleven, and Ace Hardware. The investment required for retail franchises can range from around $50,000 to over $1 million. For example, the initial investment for a The UPS Store franchise is upward $241,000 according to upsstorefranchise.com, while the initial investment for a 7-Eleven franchise is typically between $54,000 and $1.1 million, according to Franchise Direct.
4. Health and wellness franchises
As the demand for health and wellness services continues to grow, health and wellness franchises are becoming an increasingly popular choice for E-2 visa applicants. These franchises include businesses such as fitness centers, weight loss clinics, and health food stores. Some popular health and wellness franchises include Anytime Fitness, GNC, and Massage Envy. The investment required for health and wellness franchises can range from around $30,000 to over $300,000. For example, the initial investment for an Anytime Fitness franchise, according to Entrepreneur, is typically between $382,000 and $784,000, while the initial investment for a Massage Envy franchise is typically between $412,000 and $943,000, according to ifpg.org.
5. Automotive franchises
Automotive franchises can be a good option for E-2 visa applicants with a background in mechanics or a passion for cars. These franchises include businesses such as car rental agencies, auto repair shops, and car detailing services. Some popular automotive franchises include AAMCO, Jiffy Lube, and Midas.
When selecting a franchise to buy, it's important to do your due diligence and thoroughly research the franchise and its parent company. This includes reviewing the franchise disclosure document (FDD), talking to other franchisees, and consulting with a franchise attorney. With the right franchise, an E-2 visa can be an excellent way to start a business and obtain legal residency in the United States. The investment required for automotive franchises can range from around $50,000 to over $500,000. For example, the initial investment for an AAMCO franchise is typically between $240,000 and $346,700, while the initial investment for a Midas franchise is typically between $200,000 and $740,000, as per Franchise Direct.
It's important to note that these figures are estimates and may not reflect the exact investment required for a specific franchise location. It's always a good idea to review the franchise disclosure document and consult with a franchise attorney before making any investment decisions.
If you're considering applying for an E-2 visa and need a comprehensive business plan to support your application, Visa Business Plans can help. Our team of experienced business consultants can work with you to create a customized business plan that meets the specific requirements of the E-2 visa program.
Our business plans are designed to showcase the viability and potential of your proposed business, and provide a detailed analysis of the market, competition, and financial projections. With Visa Business Plans, you can be confident that your business plan will meet the highest standards of quality and accuracy.
Don't leave your E-2 visa application to chance. Contact Visa Business Plans today to learn more about our services and how we can help you achieve your immigration goals.