Post by URBAN FARMING on Dec 17, 2014 9:28:05 GMT -6
Interested in buying a franchise? Below is some helpful information:
"While U.S. growth remains robust, franchising has definitely become a global affair, as illustrated by Entrepreneur’s 36th annual Franchise 500®. The companies that made the ranking this year added 16,229 new franchise units between 2013 and 2014, and 55 percent of those were outside the U.S. Here’s a look at the franchising sectors at the forefront of that growth, both domestically and abroad..."
The biggest sector by far, quick-service restaurants comprise more than 20 percent of the Franchise 500®. But a shift is occurring within the industry. While fast-food companies still dominate the rankings, the overwhelming majority of new franchisors fall firmly into the fast-casual camp. Companies that have been franchising for decades have high speed and low prices locked up, so newcomers are looking to compete on food quality and atmosphere instead. Particularly popular among emerging franchisors is the “build your own” model, made trendy by Chipotle, in which customers can personalize everything from pizza to sushi.
Perhaps the biggest indicator of fast casual’s rising power is the response of the old guard. Rather than ignoring the newcomers, fast-food franchisors appear to be taking notes: remodeling stores for a more upscale appearance, revamping menus with more premium choices and even testing out fast-casual spinoffs of their proven concepts. Amid a growing backlash against fast food and its reputation for being unhealthful—plus demands for fresher, more sophisticated options—this trend may be key to quick service keeping its place as franchising’s strongest segment..."
The competition in this sector is fierce. That’s especially true for the fitness and senior-care industries, which saw 21 and 23 companies, respectively, rank on this year’s Franchise 500®.
Where big-box gyms were once the norm, fitness studios with smaller footprints and specialized workouts are succeeding by creating a more personal experience for clients and keeping costs down for franchisees. More than one-third of the ranked fitness franchises can be started for less than $100,000.
While the highest-ranked companies in senior care have been around for 15 years or longer, new concepts are
continually joining the fray. And as they seek to differentiate themselves, they’re introducing products and services—such as home-accessibility equipment, assisted-living placement and patient advocacy—that could strengthen the
sector as a whole.
Still relatively new to franchising, massage is proving to be a bright spot. All six massage franchises on this year’s list improved on their 2014 rankings—a testament to franchising’s power to transform an industry. It’s no wonder other personal-care businesses, like waxing and nail salons, are embracing the franchise model."
Quoted from and for more information: www.entrepreneur.com/article/240720
Also check out Peoples Organic: peoplesorganic.com/