Are you questioning exactly what the hottest franchising trends are? Much of the recent success in that location is traceable to 2 demographic trends: Americans are getting older and feeling pressed for time. Does not sound too bright, but it implies growing business in franchising circles.
Now I am by no suggests a Franchise Master. I’ve never ever had one, worked for one, and even considered one and for good factors.
First, when I began my publishing and publicity company I wasn’t flush economically enough to pay the “freight” on a franchise. Secondly, it seems too much like working for another corporate business to me. Things are done their method or no way, and you work for two – you and the piece the company takes. That doesn’t indicate that it cannot be your cup of tea, because lots of business owners enjoy franchises.
I’m not going to expound as a franchise expert, but rather I’ll offer you the facts about the most popular ones to look at if you like franchises. Regardless of the condition of the economy it seems the most sensational development in franchises in 2004 has been in the senior-care section. Seven senior-care companies ranked in the leading 500 in Business owner publication have grown a total of 370 systems in one year, and virtually 39 % in the previous year.
Specialists state that despite the big increases, this market hasn’t peaked yet. By 2010, 39 million Americans will be 65 or older, which’s practically 20 % of the North American population. About 30 % of non-institutionalized seniors live alone, per the Dept. of Health and Human Services Administration on Aging. Many of them require extra help at home or friendship.
As the country ages and boomers turn 60, this section of the population will certainly grow. “Senior citizen care will replace childcare as the number one social concern,” forecasts Jeff Huber, vice president of House Instead Senior Care – a franchise that grew from 356 to 448 devices this past year.
The next most popular location is children. Parents desire their kids to have fun and be well-read and will invest cash to guarantee this in good times and in bad. Kid’s services and products segment of franchises have actually grown gradually over the year and turned into one of the leading 5 overall categories in term of system size in 2004.
What’s changed? Spending on youngsters is now being sustained not just by baby-boomers, but by Generation X – a group that has $736 billion in spending power. Another modification in the market in the past 25 years is the increase in dual-career families. According to some in the industry, this is a perfect time to enter the education sector of franchises for children.
Kids’ fitness programs are also growing. Caryn Burnier, franchise sales director with Stretch-N-Grow International, says they have actually added 50 systems last year. “We expect to see more youngsters enrolled in physical fitness programs in the coming year,” states Jerry Perch, vice president of sales/marketing for the 92-unit Kinderdance International Inc. franchise.
Last, but not least, the expert market is rebounding from its nose-dive in the past. This is because there is an enhanced reliance by people and companies on their innovation. People need advice on exactly what to purchase and exactly what not to buy, and exactly what is the appropriate solution to their certain requirement.
Computer system Moms International Corp., a training and support service provider, has seen a shift in its client base considering that it started 10 years earlier. The greatest demand for services from the Computer system Moms group has actually shifted to the business market, and the group added 30 franchises last year. The specialists claim that the need for quality full-service training and expert support is vast now and expected to end up being higher.
Following on the heels of those three areas are franchises in the area of House Enhancement, Fitness, Earnings Tax Preparation, Company Consulting, Specialized Ice Cream, and Coffee. So, if you’re in the marketplace for a franchise type company attend to the up-and-coming hot leaders and let someone else go for the 7-Elevens.