These 5 Franchises are Rising in Popularity
If reading the market were easy, there would be far more billionaires. Unfortunately, it’s hard to know which companies will continue to do well and which are starting to trend downward. If you’re one of the many investors thinking about jumping into the world of franchises, you want to make sure you’re not boarding a sinking ship. While you do your research to find the right company, consider these categories that are currently on the rise.
This one seems too obvious, but pizza continues to be a goldmine. The giant companies are doing well and expanding while smaller pizza joints are also managing to take hold in all states. You can serve fancy pies or stick with the standard dough, sauce, cheese, and meat; people will come to buy it as long as it starts with a “piz” and ends with a “za.”
People don’t just join gyms in January to make good on a resolution. Fitness centers are one of the fastest-growing franchises and yet the market shows no signs of becoming oversaturated. As more and more clubs offer yoga and other classes as part of the membership, consumers are able to get more and pay less by joining the larger, more prominent gyms.
They aren’t just for Iowans anymore. Trendy restaurants have spent years trying to put new spins on old favorites and it really paid off with spuds. While some eateries are getting famous for the different fries you can pair with your meal, others are serving nothing but fully loaded baked potatoes. The product is cheap, the options are many and these businesses are currently a pretty hot ticket.
As parents try to find more ways to set their kids apart and help them succeed, various youth enrichment franchises have started to make an impression on the market. Whether the focus is arts, sports or academics, these programs are catching on with parents in urban and rural areas.
Spas have come a long way in the last 10 years. Product development has increased the number of services available and that trend doesn’t look to be slowing anytime soon. Once a company gets recognized for helping clients beautify, there’s usually no shortage of people willing to pay for that service.
Franchises have allowed many people to make a lot of money. If you’re able to find the right business in the right industry and at the right time, you can start earning well and impressing friends with your market knowledge.