Recent Trends in Franchising

 

 

We’ve covered the semi-absentee model before, but recall that this franchise business model means you’ll own the business—and hire a qualified manager to run it in your absence. This business model has allowed many franchise entrepreneurs to invest in their own future while, at the same time, allowed them to keep on the career track they already maintain. “Managing the Manager” is a popular trend in franchising, especially when the available talent pool for qualified retail prospects are ready to “mind the store” in your absence. One great listed example in the industry is hair care salons. Already known as a recession proof business, the amount of training and support available to franchisees is complemented nicely with the advent of a qualified salon manager—of which there seems to be no shortage.

 

 

Of the more than 3,100 franchise concepts available today, some require a substantial financial commitment to get up and running, while others do not. The more well-known franchise brands may command a higher pricing structure because of the brand name and recognition. Other franchise concepts may fit better into your budget and provide an excellent return on your investment. Low-cost doesn’t mean low return. There are many brands that return a very healthy margin regardless of their initial costs. Don’t let the misperception of franchising’s “high costs” become a barrier to your entrepreneurial dream. There are many low-cost franchise options on the table as well that need not be overlooked.

 

 

Talk about keeping it in the family. The Dads and Grads concept is the teaming up of a seasoned business professional (the parent) and a recent college graduate (the child). For all intents and purposes, we can call this category Moms and Proms, too! It’s an interesting take for franchising because it opens up an entirely new prospective franchisee category. The job market for recent college graduates has been anything but stellar in recent years and the Dads and Grads trend is making a positive difference in people’s lives. Take a look at this one excellent success story built on a home health care franchise platform.

 

That’s all for this week, but take our advice to heart. We scour all our sources to find prospective franchisees the best news and noteworthy information to help them make informed decisions about the entrepreneurial world. If it helps just one additional candidate cross the threshold, we’re satisfied!