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Franchise trends

Be wary of new fads, they might not last

Here are some trends outlined by franchise expert Joel Libava from an article published last week at Small Business Trends (http://www.smallbiztrends.com):

• Semi-absentee ownership

More people are looking for franchises that will allow them to keep their current jobs while the new business ramps up. Opportunities that offer a semi-absentee owner model are Great Clips, Fantastic Sam's and Hollywood Tans.

• Low investment opportunities

For those who can spend a lot of time marketing, the direct mail industry offers low-cost franchises. It includes Money Mailer and Adventures In Advertising.

• Women focused franchises

Some concepts that could appeal to women are the Glove Lady, Showhomes (showcasing vacant homes) and Sweet Beginnings (wedding planners).
GROWING
CATEGORIES

Here are some growing franchise categories:

• Residential cleaning services

Dual-income families are still looking for time-saving relief. Bigger franchise names include Molly Maid, Merry Maids, the Maids, and Maid Brigade.

• Child Related Services

These include education providers (Sylvan, Huntington
Learning Centers, Chyten and Children's Lighthouse), day care (Kiddie Academy), party providers (Pump It Up) and activity centers (JW Tumbles).

• Green food franchises

Boloco, a burrito franchise, is exchanging its Styrofoam cups for ones made of corn starch and Pizza Fusion features organic ingredients.

• Technology related franchises

True Presence helps businesses establish themselves on the Web. Concerto Networks and TeamLogic IT offer tech help after things are up and running. Meanwhile EyesThere and Monitor Closely are catching a share of the home and business security sector.

 

Staffing franchises

There's a growing need for placement services, such as Express Personnel, and 10 til 2.

• Senior Care

As baby boomers begin to retire, the need for nonmedical home care will benefit franchises like Spectrum Home Services, and Seniors Helping Seniors. BrightStar Healthcare provides nursing home-type services in the home. SarahCare is an adult day care center.
BE CAREFUL

Avoid the following when looking at franchise opportunities:

• Fads

They might not be sustainable in the long run.

• Franchise concepts that are hard to understand

Sometimes simple is best.

• Inexpensive franchise concepts

Don't buy a franchise for less than a $40,000 investment unless you talk to a lot of current franchise owners.

• Franchises that are growing fast

As a franchisor grows, the infrastructure must grow along with it.

 


Joel Libava is president of Franchise Selection Specialists (www.thefranchiseking.com.)

 

Here are some trends outlined by franchise expert Joel Libava from an article published last week at Small Business Trends (http://www.smallbiztrends.com):

Get the full article here.


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