08 Sep, 2017

Examples Of Franchises

Franchising is undoubtedly an excellent way which enables potential entrepreneurs to become part of an established business. Starting your own business from scratch is usually quite involving and it normally carries a higher risk. Franchises provide you with a ready client base and a business model that has been proven to work effectively. There are numerous examples of franchises which a budding franchisee can choose from and they can be found in almost all the industries. The most common and profitable franchise is the food industry according to the Entrepreneur’s Franchise 500 since the top 10 franchises in the U.S belong to this niche industry. The most common franchises which belong to this category include: Dunkin’ Donuts, 7-Eleven, McDonalds, Subway, and am pm Mini Market. Other examples of franchises that are lucrative as well include: Cleaning services, financial services, and hotels. The cleaning services are on high demand because offices, apartments, hospitals, etc all require professional assistance so that they may be able to get their premises squeaky clean. Franchises that deal with providing financial services on the other hand are quite lucrative because they are normally recession resistant. In other words, while other industries usually suffer during the tough economic times, the financial consultants thrive because it is during such times that their services are needed most. Looking at the examples of franchises is mandatory for anyone who is contemplating on venturing into a franchise. There are numerous other examples of franchises such as car & auto, printing & postal services, senior care, pets and health & fitness which are also lucrative as well. All of these franchises are profitable and you should choose the one that you have a passion for because this will give you the opportunity of capitalizing hence making more profits. According to a census that was released recently, the industry which involves senior care has the potential of raking in $490 billion annually by the year 2030. This is because of the fact that the generation of the baby boomers is entering the elderly category hence providing opportunities for house keeping, health care, meal planning, etc for the business people who are providing these services. Environment conservation and pet keeping services are also other examples of franchises that are gaining popularity as people become more aware on their relevance in the society. The need to ‘go green’ has lead to the emergence of opportunities for franchises in that industry.