Franchising 101 – Episode Twelve – How Do You Find the Best Franchise to Own?
With franchise opportunities across hundreds of industries, how do you even begin to find the right franchise to own? Check out this week’s […]
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Alternatively, read on to delve into the detailed beauty franchise industry data provided below to help you make a more informed decision.
Stephen Hatley
Michael Long
Cary Shields
Over the past five years, the franchise industry saw an increase in the number of units. However, Entrepreneur’s data indicates that this growth was uneven across different sectors. The Recreation category shows a remarkable 19.8% increase.
Other categories that also experienced more robust expansion are tech businesses, health and wellness, pet services, and home improvement.
With franchise opportunities across hundreds of industries, how do you even begin to find the right franchise to own? Check out this week’s […]
There are two words that our clients will sometimes use once we get to the point in our process we call the Discovery Process. This is the point […]
Do you want to learn more about funding options for franchise ownership? Listen to this week’s franchisor spotlight podcast episode to learn more. Interested […]
The personal service franchise industry has experienced remarkable growth in recent years, driven by an increasing demand for personalized and convenient services. This sector, which encompasses a wide range of businesses including travel, home care, fitness, sports training, tutoring, recreation and beauty services, has attracted entrepreneurs looking to capitalize on the burgeoning market for tailored, one-on-one services.
Advances in technology have further propelled this growth, enabling franchises to offer more efficient and customer-centric solutions. As consumers continue to prioritize quality and personalized experiences, the personal service franchise industry is poised for continued expansion, providing ample opportunities for new and established franchises alike.
A travel franchise specializes in assisting clients with planning and booking their trips, focusing on services connected to travel, tourism, and hospitality. These franchises often encompass businesses such as:
Travel agencies that handle flight reservations, hotel bookings, car rentals, and cruise arrangements.
Tour operators who curate vacation packages, excursions, and guided tours.
Online platforms providing vacation packages, group travel options, or niche travel services (such as luxury, adventure, or corporate travel).
The target audience for a travel franchise includes individuals, families, or businesses looking for comprehensive trip-planning services.
For years, Grand Welcome Franchise has earned a reputation for delivering exceptional service to property owners and travelers alike, offering top-tier vacation rental franchise opportunities. This dedication to excellence is reflected in our impressive growth and high levels of customer satisfaction.
The iTrip franchise was established in 2008 by founders who were dissatisfied with the existing short-term rental property management services. After thorough research, they found a gap in the market for effective solutions. Today, the brand’s multi-million-dollar original territory in Panama City Beach, FL serves as a testing ground for innovative strategies that, once proven successful, are shared across the company’s franchise network.
Less than a decade ago, Experiential Tourism began gaining traction, spurred by millennials who prefer spending on experiences rather than material goods. This sector is on track to surpass $12 billion in revenue by 2023. As the premier North American party bike franchise, Pedal Pub excels in providing exceptional experiences, quality service, efficient systems, and expansive reach. Discover more about joining the Pedal Pub franchise network and request further information.
Cruise Planners is recognized as the leading network of home-based travel consultants in the country. Having a Cruise Planners franchise provides the freedom to run your own travel agency from almost any location. Known for being one of the most affordable franchise opportunities, Cruise Planners is now offering a limited-time reduction in the Franchise Fee.
Owning a senior care franchise allows you to make a meaningful difference in the lives of elderly individuals while building a rewarding business. This type of franchise focuses on delivering essential services such as personal assistance, companionship, and daily household support, which help seniors maintain their independence and improve their quality of life. By stepping into this expanding field, you not only gain a valuable business opportunity but also contribute to the health and happiness of seniors in your local area.
A beauty franchise offers a promising path to capitalize on the dynamic beauty and wellness market. These franchises offer diverse services such as hair styling, skincare treatments, and makeup applications, catering to clients who seek expert beauty care. With an established business framework and strong brand loyalty, a beauty franchise allows you to attract a steady client base and grow consistently within a rapidly evolving industry that places high value on self-care and professional treatment.
Fitness franchises provide an ideal opportunity for those passionate about health and fitness to build a business within a thriving industry. These franchises come with established business plans, comprehensive training, and ongoing support, appealing to both experienced business owners and those new to entrepreneurship. With society’s increasing focus on wellness, fitness franchises serve a wide demographic interested in various fitness services, including personal training, group exercise classes, and specialty workouts like yoga and pilates. Franchisees benefit from brand recognition and a dedicated customer following, enabling them to make a positive impact on their community’s health while working toward financial growth.
A recreational franchise offers diverse opportunities for business owners interested in providing engaging activities for all ages, from fitness facilities and sports complexes to adventure parks and family entertainment centers. As more people prioritize health, wellness, and quality leisure time, these franchises attract a broad audience looking for fun and active ways to stay fit and entertained. With a recreational franchise, you can build a successful business that meets the growing demand for wholesome, enjoyable experiences while promoting a healthy lifestyle.
A common misconception in the franchising industry is that aspiring franchise owners must have hundreds of thousands of dollars in cash and a net worth exceeding $1 million. However, this is far from the truth. There are many franchise opportunities available at a much lower cost.
FranCoach will help you learn what to expect from different types of franchises, including total investment ranges that cover both the Franchise Fee and the initial start-up costs necessary to launch your business.
Investing in a travel franchise offers a promising avenue for entrepreneurs looking to capitalize on the thriving tourism industry. These franchises provide a structured opportunity to enter the competitive travel market with established brand recognition and support.
Key considerations for potential investors include initial investment costs, which can vary widely depending on the franchise’s reputation and scope. Franchisees typically benefit from comprehensive training programs, ongoing marketing support, and access to exclusive travel deals and partnerships, enhancing their competitive edge in the market.
The total initial investment for a travel franchise can range from approximately $50,000 to $250,000 or more, depending on various factors such as the brand’s prestige, location, and scale of operations. Potential franchisees should conduct thorough due diligence, review Franchise Disclosure Documents (FDDs), and consult with financial advisors to assess the feasibility of the investment.
As the travel industry continues to rebound and evolve, investing in a travel franchise presents a strategic opportunity for growth-minded individuals seeking to leverage their passion for travel into a profitable business venture.
This question isn’t just for kids anymore. Many of our clients find themselves at a career crossroads, asking the same question you might be pondering now. You don’t have to navigate this path alone.
At FranCoach, our team of experienced franchise consultants is ready to assist you. With decades of collective experience, we have successfully guided both novice business owners and seasoned entrepreneurs in finding the ideal franchise opportunities that suit their needs.
Discover more about our skilled team and gain insight into the individuals who will be supporting you on your journey to franchise ownership.
Tim is the founder and CEO of FranCoach, and he has been working with clients for over nine years. He […]
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Alison is a seasoned professional with a strong background in the corporate world and a deep understanding of psychology. With an […]
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Jess transitioned into FranCoach after years in the mortgage industry, before which she worked in middle school education. Jess has […]
Read MoreStephen, Arizona“You have nothing to lose by having a conversation with FranCoach. Worst-case scenario, you discover you don’t want to touch this with a ten-foot pole. But best case, you figure out, hey this might be something for me and there are some possibilities here.”
Geoff, Pennsylvania“I remember when I first started exploring the idea of franchises and I found the Franchising 101 Podcast. I just got hooked. There were such good snippets of information and I started eating through them and listening to them all the time.”
Ryan, Alabama“The conversation we had, just on that first call, when you said, ‘Tell more about Ryan, what flips your switch, what gets you out of bed in the morning’… it was really important to me to know those things upfront.”
George, Pennsylvania“One of the lessons that I learned very quickly was to focus on what is driving you as an individual. What makes you get up, and what do you want to get up and do every day?”
Michael, Indiana“If you have questions, if you want answers, or if you’re not sure if it’s for you – there’s no reason not to reach out to FranCoach.”
At FranCoach, we are focused on helping you determine IF franchising is the right path for you – and if it is, we will then guide you to finding the right franchise for you. Many brands seem similar on the surface, but when you peek behind the curtain, you will see stark differences in the roles of owners, the structure of the businesses, the staffing, and so much more.
With our decades of experience in the franchising industry, we can help you sift through this information to find a franchise that aligns with your goals, skills, and values. Your coach will guide you through the Discovery Process to determine your vision for what you would like to do every day and what kind of business you would like to own. Then, we will offer a selection of franchises that match these criteria and help you select the best option for YOU.
There is a big misconception in the world of franchising that you need millions of dollars in the bank in order to start a franchise. Guess what? That’s not true! Many of our clients here at FranCoach have a net worth of far less than $1M. The average single-unit total investment cost of the franchises we work with hovers around $200K, and several of our franchisor partners offer a total investment under $100K.
But even those numbers exceed the actual cash you need to have on hand. There are many funding options available to make franchise ownership accessible for virtually everyone – and at FranCoach, we will help you find the funding option that’s right for YOU.
In stark contrast to the corporate world, franchisors typically do NOT require their owners to have specific industry experience. Franchisors are seeking talented individuals to work ON the business rather than IN the business. They are more focused on transferable skills, the drive to succeed and work hard, and a history of success regardless of your industry. Plus, franchisors offer extensive training and support programs to educate each of their new owners – they want you to succeed just as much as you want success for yourself.
UItimately, finding success as a franchise owner boils down to finding the right fit. At FranCoach, that is exactly what we are focused on. Our role is to match you with a franchisor that shares your goals and values and is looking for an owner with your unique skill set. Industry is one part of the equation, but it is a relatively small consideration.
Great news: There are plenty of funding options that can help you achieve your goal of franchise ownership. From the ROBS (“Retirement Rollover”) Program to SBA Loans to HELOC and Portfolio Loans, there is a smorgasbord of funding possibilities available to you.
At FranCoach, we have relationships with leading franchise funding partners. We will educate you on all of the potential paths available to you to finance your business – and we will help you get connected with the people who can make it happen.
Unlike salaries in the corporate world, your earnings as a franchise owner are completely up to you. Want to make more? You can always keep growing and expanding, stacking multiple brands or adding new territories of the same brand. Comfortable with where you are at? There is no pressure to take on more responsibilities. Both the ceiling and the floor of your earnings are finally in your own hands.
Contrary to popular belief, you CAN keep your job and own a franchise. Many of our franchisor partners can accommodate what is called “semi-absentee ownership,” which typically requires a time commitment of 10-15 hours per week overseeing and managing your business. If you are interested in learning more about franchise opportunities that offer this level of flexibility, get in touch with us today to schedule an introductory call. We would be happy to introduce you to some of our semi-absentee partners.
There is never any fee to work with FranCoach. How is that possible? We are partnered with over 600 franchisors, and we act as talent scouts to find them their next incredible franchise owners. Maybe you are one of them.