Choose A Franchise In An Industry With Growing Demand
The success of any business rests inherently on how much demand there is for it long term. Every industry will have trends that come and go but there are a few industries that will always have customers regardless of a fluctuating economy. But how do you choose a franchise in a sector with growing demand?
When choosing a Franchise to invest in, it’s worth considering the past, present and future of the product/service of the Franchise, a term I offer use is… ‘has it got legs’! In other words, what’s the longevity of it and has the Franchise been created out of a trend that’s quickly dwindling!
Episode 10 of the Apprentice 2012 provided a great example of a short term trend that may already be in decline…the fish pedicure! A treatment that exploded with popularity due to the latest celebrity beauty fad may continue to do well but perhaps not so great long term as a Franchise opportunity.
So what market sectors are the most likely to do well long term?
Here are 3 great ones…
Children They are the adults of the future and every parent wants the best for their child. Creative Education Sports Play/Fitness
Weight Loss The majority of the population will choose between 1 – 4 methods of losing weight during their lifetime! Weight management Weight/fitness combined Non surgical treatments Fitness
Care With the increase in life expectancy comes the greater need for care in senior years. The choice is growing for how people receive their care, which increases the opportunities in this sector. Home care Health plans Residential Home care related services
Extend your due diligence to what the future demand is likely to be for the Franchise you’re considering. To find out more about Care franchises click here. For more information on Children’s franchise opportunities click here if a franchise within the thriving weight loss sector is of interest click here for further options.