There are some great companies that are advancing by leaps and bounds today, even given the economically uncertain times we have been living in. Many of these businesses are franchises, and they are providing entrepreneurs with some great opportunities moving forward. Consider some of these fast-growing business sectors:
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Quick-Service Restaurants
This is actually the biggest franchise sector by far, and they comprise more than 20 percent of the companies listed on the Franchise 500 list. A shift is occurring within the industry, and new franchisees are focusing more on the quality of the food and the atmosphere inherent in the dining process itself. An example of this is Chipotle, which made famous the ‘build your own’ food style of restaurant. Perhaps the best indicator that this trend is not going to decline any time soon is that fact that many of the traditional fast food restaurants have taken notice by revamping their menus, offering more premium choices, and upgrading the dining environment.
Maintenance Sector
Let’s face it, commercial and residential properties alike will always need to be cleaned, so a cleaning franchise should always have a potential customer base. That being said, these franchises have the added appeal of also requiring minimal upfront costs to get started, making them appeal to aspiring entrepreneurs who are on a limited budget. Such a business can focus on a particular niche, such as office buildings or personal residences, and once a steady customer base is built up, momentum and growth should quickly follow.
Children’s Businesses
From after-school programs to swimming lessons, and from tutoring services to sports leagues, there is a market almost everywhere for a business that is tailored to the little ones among us. Beginning with tutoring, parents are increasingly concerned that their children are falling behind academically, particularly in the area of math and science. Tutoring is becoming a big business for those looking to stay ahead. Also, in nearly every part of the country, parents want to send their children to swimming lessons or to have some after-school activity. The possibilities are limitless, and the number franchises in existence today that cater specifically to children continues to grow.
Personal Care
Whether it’s caring for the elderly, or providing fitness-based activities to adults, the personal care industry is thriving. There are now many smaller types of fitness franchises popping up around the country that put the focus back on just working out. These businesses are easier to run, and cost much less to start than the large chain brands. Such franchises are booming, and they can be located nearly anywhere that there is a cluster of people living.
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This is just a short list of the many types of franchises that are growing today. The list is long. What is required, however, is a passion for the business you are starting, a level of interest in the industry itself and some leadership and financial skills to get you over the initial hurdles.
