Guide to Hot Franchise Opportunities

FRANCHISE TREND: Enlist a free consultant to help you find the best franchise opportunity fit.

Working with a franchise consultant is a little like working with a real estate agent to buy a house.

I recommend: FranNet, for example, is the largest network of franchise consultants in the U.S., and their services are free to you. Their consultants help you learn about the many choices available and select and finance the right one for you. iFranchise Group is a consulting firm that can help you evaluate your readiness to buy a franchise and sort through franchise options and potential sources of financing.  

HOT FRANCHISE CONCEPT: Coffee houses.

Believe it or not, the specialty coffee field is still growing. Even in a world where Starbucks is king of coffee, other franchises are reaching for their share of the (coffee) pot.

I recommend: If you think there’s no room left, think again. See the top coffee house franchise opportunities.

HOT FRANCHISE CONCEPT: Staffing and business services

This is one of the fastest growing franchise categories in America. Franchises in this area help small businesses find and recruit talent, and outsource everything they need to grow and operate, from signage to IT services.

I recommend: See the staffing franchise directory at Franchise Gator.

HOT FRANCHISE CONCEPT: Niche gyms

Specialized fitness centers for kids, teens, seniors, women and even 24/7 gyms are big. These gyms do not target the general population.

I recommend: Rather, they focus on one group, like people who prefer to exercise when most gyms are closed, and then build their facility and services around this demographic. Check the directory of health and fitness franchise opportunities.

HOT FRANCHISE CONCEPT: Non-medical healthcare

As everyone knows, the U.S. population is aging. Fast. The percent of population over 65 will jump from under 13 percent today to almost 20 percent by 2030.

I recommend: Many older people want to remain in their home as long as they can, and several franchise concepts help them do this. In-home personal care is in demand, and growing. You can browse hundreds of franchise opportunities online at places like Franchise.com, FranchiseSolutions.com and Bison.com. You’ll also find helpful information and a directory of franchises at the International Franchise Association (IFA).

HOT FRANCHISE CONCEPT: Education and tutoring

This is another franchise concept growing exponentially as schools become more competitive. Whether its online tutoring, subject specific, or even for the youngest crop of pre-schoolers, parents are willing to plunk down big bucks to ensure their kids have an extra edge.

I recommend: Some tutoring franchises are even being hired by established schools to provide tutoring services if their programs don’t meet performance standards. Franchise Advantage lists education and tutoring franchise business opportunities.

Check initial investment requirements by franchising sector

Each industry and sub-sector has a widely different set of initial expenses that make up the investment requirements based on their business model.

I recommend: An International Franchise Association (IFA) “Special Report” on initial investments required to purchase a franchise offers an excellent overview of franchise buy-in costs.  Check a handy comparison chart of initial purchase fees by franchise category. IFA operates an ongoing series of franchise expos for people considering a franchise (check the site for dates and locations).