I am buying a franchise and am currently in the startup phase. I will be spending around 200K +/- next year on the card. Does anyone have experience in this area and any card suggestions?

Capital One Rewards has some good perks especially travel related.

But, as a small business owner you won't get to use them .

What franchise? $200K buys you a lot of income producing real estate.

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When I started my first business back in 2019, I got the Platinum AMEX business card because it included a WeWork membership. The $600 for the card was cheaper than the cheapest annual WeWork membership by about $3k. After covid killed WeWork (I mean exposed the fact it wasn't sustainable) that perk went away. By then, I was already in the ecosystem and it was worth more than $600/year to not change autopays, etc.

I'd go look at specific benefits of a a handful of the top cards to see if there are any hidden items like the WeWork membership included in one that you would utilize and get a ton of value out of.

Capital One Spark Cash Plus is a great value. Unlimited 2% cash back on all spend plus some early spending bonuses. I've been in the industry for over 20 years and I do work for them. If you want to talk through it, dm me and I'm happy to help.