Generally when you think about starting a franchise business, most people think about iconic brands like: McDonalds, KFC, and Subway. However, I want you to know that franchising is highly successful in many more industries than just fast food. The reason for the success of franchising lies in the overwhelming power of a brand. In fragmented industries where there is no clear industry leader, franchise opportunities thrive and often dominate their respective industries because the collective power of the franchise system sets quality & performance standards that builds a positive customer experience with a popular brand. Today I want you to consider looking at franchise businesses outside of the food industry. While a fast food franchise can certainly be an excellent investment, I want you to be aware of the wide variety of franchise opportunities that are available to you and why these opportunities can prove to be a savvy investment.
One reason to consider franchises outside of the highly competitive and mature fast food industry is that you may achieve higher profit margins due to the less-competitive nature of these industries. A practical way of thinking about this is: if there are many competitors and well-established companies within an industry then the profit margins will be lower because of the fierce competition. While this results in an excellent value for the consumer, as the business owner you may need to work harder and run a better organization for a lower return on your investment.
Today there are franchise opportunities available in almost every industry imaginable. And rather than shying away from these less familiar brands and industries, I recommend looking into the opportunity and the growth prospects for the industry you are about to get in to. In fact, some of the less sexy business models are great businesses to own and run because of their outsized profits and less competitive nature. Additionally, if you can get in on the ground floor of a franchise system in a growth industry it can prove to be a wise move that will pay you dividends for years to come.
Take a look around BizQuest.com and FindaFranchise.com; you will see great opportunities that range from the travel industry to the furniture repair industry. With such an endless variety of opportunities available I highly encourage you to cast a wide net and have an open mind about what type of business you will be starting up. After all, at the end of the day you are only starting a franchise business for one purpose and that is to make money. Get started right now, there are some real hidden gems out there
To your success,