Everyone wants to know what’s hot in franchising now. It’s the one consistent question I get asked when I begin helping investors explore franchise ownership options. The focus of the question is “What franchise can I make the most money in.” The bottom line is no one can guarantee what your financial returns might be, moreover, that’s not possible.
What I can show you are franchise concepts that have a healthy Item 19. Item 19 within a Franchise Disclosure Document is where you, as an investor, gain insight into the Financial Performance Representations of other owners within the system. Item 19’s are not a guarantee of what you may earn as an investor, but they show the possible potential as a result of following the brand’s system.
And that is what franchise investment is all about. Following the system in order to get the best possible return is what’s hot in franchising! Furthermore, finding a hot franchising brand with healthy items 19 is important.
5 common themes we see with Hot franchise brands, with a healthy Item 19, are:
- AGILITY & ability to PIVOT their model to accommodate the times.
- RECESSION-RESISTANT, therefore there is always a need for their service.
- Provide a VALUE-ADDED service, moreover they make a difference in people’s lives.
- Have a PROPRIETARY aspect to them either in their product or technology offering.
- Provide SIGNIFICANT SUPPORT to their franchise owners throughout the lifetime of their business.
Have I piqued your interest?
When starting a business, consider economic cycles and identify sectors that bring you satisfaction and enjoyment. For example, sectors providing goods or services that fulfill necessities perform well, and even grow, during economic downturns. As a result, an essential franchise business is often economically resilient. These businesses can adjust better to your target customer’s needs and purchasing decisions during a recession.
Essential Service-based businesses are in the drivers seat of this business recovery. There are MANY business categories to explore when finding the RIGHT Franchise Opportunity for you. The following list highlights key factors and popular industries:
Buyer’s Key Factors:
- Strong performance in multiple markets.
- Specializes in a primary essential product or service needs, as compared to a ‘like to have’ product or service.
- The market sector is steady or growing.
- The required franchise investment and development timeframe needs to be realistic as well as obtainable in the near future.
- Evidence of industry past performance during more challenging economic times.
- Strong historical unit-level economics.
- Solid financial strength of the parent company.
- A highly regarded management team, as rated by the franchisee community.
- Clean review of the franchise disclosure document (FDD).
Hot Franchise Industries:
- Automotive Repair Franchises.
- Business Services & Staffing Franchises – think outsourcing.
- Child Services & Education Franchises.
- Cleaning Franchises for home and facility maintenance.
- Financial Services Franchises.
- Home Repair & Maintenance. Customers are spending lots of time at home.
- Personal Services Franchises. Hair salons and medical options are vital as customers return to their regular spending patterns.
- Real Estate & Property Management Franchises.
- Senior In-Home Services. 58 million Baby Boomers will be between the ages of 66 and 84 by 2030.
- Specialty Service Franchises that consumers can’t find anywhere else. As Americans get back to work, they continue to spend money on home and office services, moving assistance, repairs, and other niche service offerings.
- Mobile franchising presents a great opportunity. It ramps up quicker, requires much lower overhead compared to building a storefront space, and does not include paying retail rents.
Finding a quality franchise fit without an experienced guide is risky, especially in today’s climate. Your dreams are easier to achieve when you get matched to the perfect opportunity. A great franchise opportunity match gives you the best shot at achieving the freedom, flexibility, wealth and lifestyle you desire. flexibility, wealth, and lifestyle you desire.
A quality franchise consultant guides you to the right opportunity and never charges you a fee. Your guide should coach you during the entire due diligence phase and remain a ‘sounding board’ for you, should you choose to purchase a franchise opportunity.
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Franchise business ownership opportunity doesn’t have to be a dream. I help make it a reality for clients everyday and you could be next… if you’re willing to take that first step towards your future.