April 1, 2006
By: James Young
Source: G.I. Jobs
New ideas are always hot – like FiltaFry.
If asked to name a franchise, what would you say? If you’re like most people, you’d probably say McDonald’s, Wendy’s, or Burger King. But there’s more to the world of franchising than fast food and main services.
There are home-based franchises, there are low-cost franchises, and there are franchises that only require “9 to 5” hours in a workday. If you’re looking for a franchise, chances are there’s one out there well-suited to your goals.
The International Franchise Association estimates that franchised small businesses account for more than 40 percent of U.S. retail sales. Estimates put employment in the franchising industry at 18 million, with a new franchise opening in the country every eight minutes. There are thousands of franchise opportunities available, and some are business that you never imagined were franchiseable.
Following are six franchising segments that are expected to be HOT, HOT, HOT in the next two to five years:
The housing market is driving growth in this industry. According to Standard & Poor’s semi-annual survey on the household durables industry, published October 5, 2005, “The demand for household appliances and home furnishings is rising steadily in step with a strong housing market and the trend is likely to continue.” Franchises in this category include Designs of the Interior, CertaPro Painters, My. Handyman, Gotcha Covered Blinds, GarageTek, Great Frame Up, Spring-Green Lawn Care and Outdoor Lighting Perspectives.
Fitness and Weight Loss
The fitness and weight-loss categories experiences significant growth last year and all signs indicate they will continue to do so in the coming year. Issues such as obesity and diabetes are still prevalent and these factors affect the industry. With the new food pyramid released by the government this year, people are realizing the futility of fad diets. More and more, Americans are starting to realize that the age old prescription for regular exercise and a balanced diet will bring the best results. Curves and Slim and Tone offer express work outs just for women. Another related trend, more gyms exclusively for men are expected to become big in 2006. Personal Training Institute, which offers one-on-one personal training and nutritional counseling at a discounted rate, is also expected to muscle a significant market share.
These franchises allow small businesses to outsource their needs for everything from signage to IT services. Since small business play such a big role in our economy, business services franchises continue to grow. Anything a small business owner might need to run his operation, this sector offers, from a company like Metal Supermarkets that sells small quantities of metal in a “supermarket” forma to Signs by Tomorrow, an outdoor media franchise. More traditional business services companies, like PostNet, which handles shipping, copying and printing, and has 950 unites, also expect continued growth. Bringing an eco-friendly twist, Rapid Refill Ink recycles and remanufacturers ink cartridges helping business to save on these typically expensive office supplies.
Basic Consumer Services
Companies that offer the staples of daily life will always be in demand. These include home cleaning services such as Main Brigade and dry cleaners like Martinizing Dry Cleaning. Handyman services have also been a burgeoning segment.
HR Staffing and Consulting
according to the American Staffing Association, contract and temporary staffing services had combined sales of $16.9 billion in the second quarter of 2005. The growing shortage of skilled workers is helping fuel companies in this industry like Express Personnel.
Unique and New Niche Business
new ideas are always hot – like FiltaFry, a company that filters oil and grease for restaurants to prevent bad taste in food and prevent employee burns. FiltaFry, like many other franchise systems, is attractive to veterans who receive special discounts through VetFran Program. And Sweet Beginnings, a wedding planning franchise from Canada, is currently entering the U.S. and looking to attract the growing number of women who want to be in business for themselves.