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Interested In Franchising? Seven Industries To Check In To

For entrepreneurs who want a leg up when starting a business, consider becoming a franchisee of an already successful company. This path ensures a built-in customer base, brand recognition and support from a parent company—benefits you might not get if you started a business from scratch.

There are many profitable franchising models out there across nearly every industry, so aspiring entrepreneurs of all interests and backgrounds have plenty of options to choose from. To help you narrow the list down, seven Young Entrepreneur Council members weighed in on current franchising trends. If you’re looking for a starting point to explore the world of franchising, check out the industries these experts say lend themselves well to the franchising model.

1. Quick-Service Restaurants

The quick-service restaurant (QSR) space is amazing for franchising. If you can align yourself with the right brand(s), not only do you get their organized systems, processes, training and sourcing, but you also save a ton of money and time on marketing and branding. Moreover, an underrated perk is when you are looking for real estate, you have a tremendous advantage and leverage in negotiation, as landlords know bringing in quality brands means they probably have a stable long-term tenant. These franchises are not get-rich-quick schemes, but when done right, they are steady, wealth-building, cash-flowing businesses. With the right hires, founders don’t need to be involved day to day either. – Brandon Harris, Playmaker

2. Mailbox Rental And Pack-And-Ship Stores

You can start an independent brand that services all the major carriers (UPS, FedEx and the United States Postal Service) and eventually franchise it later. Mailboxes are like mini storage units. That is your steady, recurring revenue that keeps the lights on and pays staff. Shipping is ancillary and seasonal. Mailboxes are low-maintenance, low-overhead items that are very easy to switch between old and new customers. This business model has a very low startup cost and can be run by an owner/operator or by one or two staff members. – Lisa Song Sutton, Sin City Cupcakes

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3. Transportation

I believe that the transportation industry lends itself very well to a franchising model. There are a lot of mergers and acquisitions within logistics, with companies looking to totally take over the assets of other companies. However, a creative way to share intellectual property, network connections or other types of assets without totally buying out another company is by using a franchise model. – Kristy Knichel, Knichel Logistics

4. Fitness

The fitness industry is booming right now due to the rapid changes brought about by the pandemic. Virtual training, coaching and home gym equipment, for example, increased drastically as consumers were suddenly in need of a way to continue their fitness at home as gyms across the country went through lockdowns. This has completely transformed the way consumers view fitness. The possibilities of franchising and meeting needs across the country are endless—and experts say this growth will only continue. – Blair Thomas, eMerchantBroker

5. Service Businesses

Industries that lend themselves well to the franchising business model are those that can be quantifiably systematized. Current examples of these types of industries include repetitive and frequent service jobs like lawn mowing, lawn treatments, hair care and house cleaning services. Businesses that offer quantifiable, easily organized service work have the structure necessary to scale quickly and profitably. In contrast, businesses that have fluctuations in demand or too much variability in the scope of work being done are nearly impossible to scale as a franchise. – Richard Fong,

6. Do-It-Yourself Experiences

Franchises that sell experiences have been gaining a lot of traction in recent years. Think “paint-and-sip,” kids’ activities, DIY franchises—anything where people can get together and do something. Look for a franchisor that sets its franchisees up for success with exclusive territories, plenty of advertising and marketing support, group pricing discounts and so on. It’s also important to look for a franchisor that isn’t growing too quickly, which can be a sign that they’re more focused on bringing in big initial franchise fees than ensuring existing franchisees are successful. Review the franchise disclosure document and evaluate how many new franchises have opened in the past few years versus how many have closed, as well as the franchisor’s earnings from franchise fees versus royalties. – Jonathan Prichard,

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7. Personal Wellness

The personal wellness industry is one where the franchising model can work very well. It’s good for franchisees since they can get feedback, procedures, support and more from the franchising company and it’s a great way to provide quality service across different locations. Another benefit of entering into the personal wellness space is that when you’re part of a franchise, it lends authority, which makes it easier to develop trust in your target market. – Syed Balkhi, WPBeginner

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