Looking for a franchise business opportunity? How do you find the best franchise to buy, now? For help with how to buy a franchise, the best franchise to buy, and the hottest franchise opportunities, concepts and trends right now, you’ve found the right place.
Today’s franchise opportunities are making it easier than ever to make the dream of business ownership come true. Almost 900 new franchise opportunity concepts have launched in the last three years alone, and you can now select a franchise business opportunity in 75 different industries. Two trends you should know about:
- The age of the “semi-absentee” franchise owner is here. Running a franchise as a side business is hot. With new tech to track store activity online in real time, absentee owners can have a franchise business that doesn’t tie them down.
- More franchise opportunities are low-cost and low-overhead. You can buy a franchise and run it from home or with relatively few employees or inventory. With nearly 800,000 franchises to choose from, there’s something for everyone.
Enlist a free consultant to help you find the best franchise opportunity fit.Working with a franchise consultant is a little like working with a real estate agent to buy a house.
Pursue your franchise passionIf you are considering a franchise, you'll want to immerse yourself in the franchise world to see if it's a good fit for you.
HOT FRANCHISE CONCEPT: Staffing and business servicesThis is one of the fastest growing franchise categories in America. Franchises in this area help small businesses find and recruit talent, and outsource everything they need to grow and operate, from signage to IT services.
HOT FRANCHISE CONCEPT: Niche gymsSpecialized fitness centers for kids, teens, seniors, women and even 24/7 gyms are big. These gyms do not target the general population.
HOT FRANCHISE CONCEPT: Non-medical healthcareAs everyone knows, the U.S. population is aging. Fast. The percent of population over 65 will jump from under 13 percent today to almost 20 percent by 2030.
HOT FRANCHISE CONCEPT: Education and tutoringThis is another franchise concept growing exponentially as schools become more competitive. Whether its online tutoring, subject specific, or even for the youngest crop of pre-schoolers, parents are willing to plunk down big bucks to ensure their kids have an extra edge.
Check initial investment requirements by franchising sectorEach industry and sub-sector has a widely different set of initial expenses that make up the investment requirements based on their business model.
- Cost estimates usually do not include real estate purchases because most franchises do not require you to own commercial property. Included in the estimates, however, are expenses for unit build-out and construction, as well as initial inventory costs.
- The franchisor may require that your personal net worth meet a minimum requirement and that you have funds available to tap for working capital other than your initial cash investment.
- You may also need to pay for legal services, business and health insurance, employee salaries and benefits, operating licenses, equipment, store fixtures, signs and other items.
- Your ongoing costs will likely include a fee or royalty to the franchisor based on a percent of your revenue - usually in the 3 to 7 percent range.
- You may also be required to pay into an advertising fund. Some of the money may be used to attract business locally for you, but some may also go to national advertising or to attract new franchise owners.