The Best 5 Franchise Opportunities To Invest in 2016
The franchise business model provides first-time owners with guidance and support they can rely on. A proven business will give you the blueprint for success. But with all the franchise opportunities around, how do you decide which one is right for you? it’s not just about the brand name, you must consider price, potential, and your passion for the industry you are entering. Here are what we consider to be the top 5 franchise type business that you should consider investing in for 2016.
1. Health Club Franchises
Few industries see continuous year over year growth, but the health club industry consistently accomplishes this. Trends come and go, but the importance of being healthy and fit is something that doesn’t fade. There are up and coming fitness franchise concepts that focus on a particular niche segment and have proven to be very successful within their market. This is a big pie and there are enough pieces for everyone, but the earlier you bite in, the better. One of the reasons we rank health club franchises as #1, is because if you speak to owners they truly enjoy their day-to-day lives and the work life balance that owning a health club offers. Job satisfaction is perhaps one of the most important factors.
2. Senior Care
In the past 20 years we have begun seeing a rise in senior care, adult living support. These type of business provide facilities or caregivers to assist the elderly with their last days. Services span from companionship to medical support and care for those diagnosed with a disease. The initial startup investment in this type of business could be between $100k and $200k. It is very important that those that invest get satisfaction from serving others.
3. Food Trucks
The popularity of food trucks has grown in the past 10 years. No longer are food trucks driving around town considered sub par meals on wheels. They are now considered cool and some of the best chefs in the world are investing in this concept. Needless to say overhead is significantly less than that of a restaurant and you are able to serve food in a variety of markets. Programs on Food Network and movies such as “Chef” all contribute to the rise of food trucks. Who knows how long this trend will last, but you may want to strike while the iron is hot.
4. Concrete Cutting
Now here is a franchise opportunity that you probably have never even heard of. Changes in the American with a Disability Act (ADA) require sidewalks across the country to be completely smooth and even. The need for smooth sidewalks is huge and few companies provide this type of service. The startup is about $130K but the annual sales could be great. Some of the advantages of this franchise opportunity are: federally mandated demand through ADA, Proprietary techniques, technology, and patents, and recurring revenue model.
5. Proven Quick Serve Restaurants (Fast Food Chains)
Some franchises never go old. Fast food restaurants continue to grow yearly with new concepts on the horizon. The McDonald’s, Burger Kings, and Wendy’s of the world are doing quite well. That being said, this could be a very expensive but less risky investment. However, be careful with investing with a new concept that may not stand the test of time. The majority of all restaurants go out of business within the first 24 months. Also, make sure you enjoy the environment of working in a fast food environment. profitable franchises in this industry are owner operators that do not mind jumping in the kitchen, putting on an apron, and flipping a burger if necessary.
Whatever the opportunity you decide to pursue. Make sure you have passion for the business you invest in. This is something you won’t see on paper but could be one of the most important factors to your success and overall happiness.