It may be the dog days of summer, but the weather isn’t the only thing heating up. I have new (and not-so-new) franchises that are on the fast track to becoming the hottest new opportunities for entrepreneurs.
As the most recent hot franchise companies settle into a sustainable pace, other companies are just coming to the forefront with new concepts, new ideas or simply new markets. I believe the most exciting franchises understand that consumers are changing. As buyers, we want value for our money. We want to customize everything in our life, from sneakers to cell phones to the food we eat. The old fast food slogan, “have it your way,” is even more relevant today.
We want to experience life, not just watch it from the sidelines. We want to feel the product, live it, breathe it, become emotionally involved…not just use it. We are so busy in our technologically-controlled life, that a moment to ourselves becomes a treasure. We don’t just drink coffee anymore, we have a full Starbucks experience.
This is where the newest, hottest franchises are heading. They are disrupting the way things are typically done and creating raving fans while they do it. Not coincidentally, they are making incredible money in the process. However, these newer, hotter franchises may not be for everyone. The ones who understand the changes upon us and deliver an “experiential” product or service are growing like crazy right now.
For example, you might say fitness continues to be hot, but the heat is shifting from the big box gyms to boutique fitness – such as kickboxing, yoga, Pilates and spinning. Food is a perennial hot category; the concepts that are the hottest right now are the fast casual and fast build-your-own customizable pizza places. The individual pizzas are baked in woodburning ovens at high temperatures for less than two minutes. Combine that with a glass of wine or craft beer and customers keep flocking back.
Spa and beauty services are also outpacing the general marketplace on both the high end and value end, too. Another mainstay, while it’s not exactly “sexy,” continues to be senior care. And at the other end of life’s spectrum, children’s enrichment franchises such as tutoring, babysitting, art and entertainment continue to be high-value products for parents willing to invest in the betterment of their children.
If you’d like more details on the hot franchise opportunities that best match your business skills and goals while setting an achievable schedule for growth, give me a call. With the market in such a dynamic mode, we have a lot to talk about!