Today’s Franchise Trends
Today if you look at the top selling most active franchise
activity, it is clear that home based franchise businesses are continuing to
proliferate. The reason is simple, low overhead with sustainable business
models. However, be cautious about new franchisors as they are somewhat risky
if they don’t have a track record of at least two or three year’s successful
operating history as a standalone business. It’s important you know that
whenever evaluating a newer franchise system, it may not have many franchisees
to interview. It is then extremely important to investigate the financial
condition of the franchisor and learn about their financial stability and get
verification of what they tell you. You don’t want to invest only to see the
Franchisor go belly up, it does happen.
So back to the trends, two categories of businesses are leading the way. First; non-medial home health care and home improvement services. The non-medical home healthcare industry is entering a strong future as baby boomers are reaching into their golden years and represent a significant population. While there are numerous competitors, there is a continuously growing demand. Second; home improvement and service is also enjoying high levels of activity. This may seem counter intuitive but the reality is people aren’t going to sell in a down market unless they have to. Otherwise, they are improving their existing homes and that is a demand that seems to be trending upward. Businesses that are doing plumbing, electrical, roofing, carpet cleaning, painting, kitchen and bath remodeling are all keeping busy and making money for the most part. These are the kind of companies many private equity investors are snapping up because they also see the trends and they are attractive and stable long term.
There are many other great franchise opportunities to evaluate and buy beyond what is described here, just be thoughtful before you decide. Make informed decisions and access experts and experienced professionals who understand how to help you. Serious business people who need funding connections or direct access to experts, is how help people. A significant influence of which franchise to buy should not be about money alone, but as important is will the franchise of choice, match your skill sets and competency. Also, and very important, are you going to be happy doing the selected franchise business while reaching your ultimate goals? Learn from Thought Leaders who are writing excellent unbiased and objective articles to help you.