Every fall, Entrepreneur magazine examines the franchising industry — predicting which categories are most likely to boom in the year to come. While including some of the newest trends, their predictions also encompass established industries.
So, what do they see ahead in the new year? Per the publication, here are the top franchising categories for 2019:
1. Beauty & Grooming Services: A look at strip malls around your location will confirm that nail care and lash services are highly popular. And know that the grooming trend isn’t just for women; there are now a number of franchise brands catering specifically to men. Male or female, pampering yourself is in!
2. Childcare Centers: Given that more and more parents are working, it’s no surprise that childcare franchises have experienced impressive growth in recent years. The demand for remains high and well-known childcare franchise brands — especially those that also provide educational services — inspire the greatest trust.
3. Electronics Retailers: Smartphones and other electronic devices are indispensable to the lives of many. Recognizing this, franchise organizations are providing accessories, repair services, resales and more to keep their customers well connected.
4. Entertainment: People are seeking recreation and franchises such as escape rooms, paint-and-sip studios and trampoline parks have boomed in recent years. The newest trend? Do-it-yourself (DIY) studios where people can make craft projects such as rustic wood signs.
5. Fitness Facilities: One of the biggest franchise industries, fitness continues to grow with no sign of slowing. Opportunities here range from boutique studios to big-box gyms and extend to the youth market. A large number of sports and fitness franchises are now aimed at kids.
6. Frozen Desserts: While people like fitness, they also love their sweet treats! Those investigating a frozen dessert business can choose custard, frozen yogurt, ices, ice cream or ice pops. What’s hot in the world of frozen desserts? Novelty concepts like rolled-ice cream and treats made with liquid nitrogen!
7. Mexican Food: Move over pizza! Per CHD Expert, a food service research firm, Mexican cuisine is now the second-most-popular menu type after varied menus. Nearly 60,000 restaurants in the U.S. are meeting the demand. Mexican food franchises are offering everything from traditional dishes to innovative fusions.
8. Pet Care: According to the American Pet Products Association, nearly seven of 10 (68%) American households own a pet. Most consider Rover or Cleo as family — and are willing to spend accordingly. So, it’s no surprise that grooming and boarding franchises for furry family members are enjoying continued success!
9. Staffing Services: A strong economy and the steady need for workers is driving growth in this sector. The American Staffing Association reports that recruiting industry sales increased 4.4% in 2017 to reach $161 billion. The group does not break out how much of those sales come from franchise businesses, but franchise networks offering staffing services continue to perform well.
A final consideration? Be sure to explore all your business ownership opportunities, including those in the graphic communications serving businesses…