U.S. News & World Report:
The world of franchising is as dynamic as ever. Every year, new franchise concepts emerge, existing ones expand and opportunities abound for individuals interested in getting into business for themselves via franchising. The constant ebb and flow of franchising keeps us riveted year after year as we study the patterns revealed through our surveys and rankings. This year, we’ve uncovered eight franchising categories that hold promise for 2009. So sit down and hold on as we take a closer look at our top picks.
Senior care: Topping our list year after year, senior care is far from a newbie, but it’s a category that remains as vibrant and vital as ever. What’s driving the opportunity? Growth is largely due to demographics. The U.S. Census Bureau projects that there will be a substantial increase in the number of seniors between 2010 and 2030, after the first baby boomers turn 65 in 2011. So take care of, cater to or provide services for America’s aging population, and you might just have a booming business. America’s seniors will soon be in need of lots of helping hands.
Frozen yogurt: Not only is it delicious, but frozen yogurt is also turning out to be a simply irresistible business opportunity. Pinkberry and Red Mango are so hot that even the hottest celebrities are frequenting them for cool, healthy treats. As a result, the market is exploding. Céfiore, a frozen yogurt franchise in City of Industry, California, first opened its doors in 2006. This year, it has plans to open 50 franchise units nationwide and has set its sights on the international market. Says Caroline Yi, franchise coordinator, “Thanks to a growing number of people who are conscious about healthier lifestyles but don’t want to sacrifice trends and tastes, we have seen a large demand for frozen yogurt.” Not quite sold on frozen yogurt? Look elsewhere, but don’t lose focus on what consumers want: healthy eats.
Pets: In tough times, pet owners tend to scrimp on pet toys and products, but they still shell out the dough to ensure that their pets stay healthy and happy. While growth in the pet retail sector seems to have come to a standstill, franchises offering pet services like training, day care and grooming are at the head of the pack. And it’s not surprising. Someone has to take care of the 74.8 million owned dogs and 88.3 million owned cats in the U.S., as estimated by the American Pet Products Manufacturers Association. In fact, APPMA estimates that pet spending last year totales $43.4 billion, up from $41.2 billion in 2007.
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