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No Matter the Economy, Some Franchise Categories Continue to Grow

Written by: Michael Hemenway

Article Overview: A franchise opportunity should enjoy growth due to social or economical reasons. So, always verify this point while choosing a growing category and don’t fall for a “fad”. These franchises don’t last after some time.

No Matter the Economy, Some Franchise Categories Continue to Grow

Everyone wants to be with the winner. That is why prospective franchisees in the market always go for growing categories when they want to buy a franchise. But before selecting any category, it is very important to check out why the category is witnessing such a growth. There are many categories that may be growing because they are the current “fad” in the market. Such growth is not stable and may not be viable tomorrow. If you want to be in the franchise business for a long-term period, these concepts can prove to be disastrous choice. But choosing a category, whose demands are growing due to social or economical reasons, is always better.

To know which category of franchise opportunities is growing, you should regularly check out reliable franchise consultant websites. The site regularly posts helpful information on the latest industry trends and growth pattern of different franchise categories. Below are some categories, which have been earmarked by many industry veterans as growing categories:

Senior Care: The senior population in the country is going to touch a whopping 70 million by the next 10 years. And these seniors are much different than their predecessors. They don’t want to abandon their independent lifestyle and with good disposable money in their hand, they are looking for hiring home-care helpers more than anything else. The franchise opportunities from this category are also popular because most of them are home based or low cost franchises.

Handyman services: The growing numbers of senior citizens have also fueled the demand of franchise business for sale offers from this category. Add to it the prominence of double-income families in today’s society. This has lead to the demand of handymen services to carry out minor repair works in the houses.

Maid and cleaning services: This is another category that has profited from the changing social scenario. Both senior citizens and time-pressed working couples find employing a reputed maid-service or cleaning agency is a much easier and hassle-free idea than doing the work themselves!

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Article Tags: business for sale, cleaning services, consultant websites, economical reasons, franchise business, franchise consultant, franchise opportunities, handyman services, handymen, income families, independent lifestyle, industry trends, industry veterans, low cost franchises, maid service, predecessors, prospective franchisees, senior citizens, social scenario, term period



Related Forum Posts
Re: Are Economic Recessions Good for Franchising? - All we can do is remain wide awake and pay attention to the ebb and flow. My strategy is to be prepared and go with the flow. There could be some rough times ahead... Interestingly, our business has remained strong. I believe it's because we're in such a tight little niche and we're well positioned to sign jobs nationwide, therefore we're not restricted to location. We also target affluent markets that have higher disposable incomes - this we do locally. Here are some Franchise Categories that could weather a good recession... Health and Personal Care Food services like Subway Debt Collection Tax Preparers & Advisors Any other recession proof franchise opps out there?
Re: Enticing Franchises - Top 9 List - All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers... - [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there. To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1] Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published. I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
how much for a franchise fee? - Dear Colleague There is no easy answer to this question. Things to consider: [list=] The sizeof the Franchise Clent base Expected Turnover Intellectual Property costs (recoup) Number of Franchises Number of employees Original Set up costs Franchise admin costs An example: A franchise that I was involved in setting was to a simple "lawn mowing/home repair" franchise. The Franchise included national/local advertising - preparation of client lists - general admin - central accounting etc The Franchise involved 300-500 clients - and an annual turnover of about $300,000 . The annual franchise fee was $30,000. Hope that this gives you some idea Take care Ian[/list]
Re: Franchise Surveys - Another good tool to researching a franchise is to speak with their existing franchisees. This contact information is included in most Franchise Disclosure Documents. In order to get a Franchise Disclosure Document or FDD as it is often referred to, you will have to complete a basic franchise application. The franchisor will then usually provide you with the FDD at that time. Included in that book of information is a list of the existing franchisees, the contract, the investment information etc... This information is required by Federal Law to be disclosed to your prior to making a purchase. So be sure to do your research and start with the Franchise Documents to get the initial information.


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