As you consider purchasing a franchise, it’s important to stay educated and up-to-date about the market, the economy, and other pertinent information in order to make the most informed decision possible. With that in mind, check out these three trending topics that have been making news in the franchising business as of late.
The stereotypical dream associated with franchise ownership says that you should immediately quit your day job in order to start working as the full time manager of your franchise. This is not necessarily the right move for everyone, though. A growing number of franchise owners are choosing instead to take the CEO seat and focus on big picture aspects, while letting a hired manager run the day-to-day operations. This gives you the option of keeping your regular job until your franchise becomes truly profitable–thus minimizing the risk associated with this career change.
#2: Customized Home Care
It might not be the first industry you associate with franchising, but the truth of the matter is that customized home care is in high demand, and a number of home care chains are looking to expand. The main reason there is so much opportunity in the senior care industry? The population of aging baby boomers is…well, booming. With this generation coming to an age where many are going to need some form of assistance, there is a great need for senior care businesses of all types. Some of these franchise opportunities gain a wider cast of the net by offering customized care from infants all the way to include seniors. Customized home care in particular is booming due to an increased sensitivity to the needs and abilities of aging citizens. There was a time when most seniors who needed assistance in their lifestyles were placed in senior living facilities or had family members near by to help. What is so exciting about the trending market for customized home care is that not only are there great opportunities for profit and growth, there is also a genuine gratification every day that your business is making a difference in the lives of others.
The senior care trend listed above is actually part of a bigger franchising trend away from traditional retail chains. Many new potential franchisees are looking for faster startup times, lower risks, and a more quickly attainable break even points. Many non-retail options can be up and running within 60 to 90 days of approval, making them the ideal option for this crowd.
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If you’re ready to take the next step forward in your journey to franchise ownership, Careyann Golliver and company can be contacted at www.franchise-logic.com or 720.542.3548