According to Forbes, times are changing for franchise industries – but which franchise sectors are worthy of your top dollars and efforts in the 2019 and beyond? Read on to get the lowdown.
Let’s get something straight right out of the gate; while 2018 has been a relatively busy year for most franchises, there’s little to call home about the industry as a whole. Yes, we have seen newer and more ambitious startup franchises enter the fray. But everything else has been ordinary. Some franchises have thrived in the course of the year, while others have seen better days.
However, with increased efficiency and transparency across the entire franchise spectrum, there’s a lot to look forward to in 2019. More importantly, some franchise sectors are poised for groundbreaking growth in the next few months or so. In this article, however, we shall focus on 3 high-growth franchise industries you should pay your attention to in 2019.
Fitness
Fitness franchises are all the rage right now – and they should be. Considering that nearly two-thirds of adult Americans are struggling with weight issues, the industry was born out of necessity. More specifically, it’s the healthy lifestyle and wellness craze sweeping across the globe that’s fueling the massive growth of fitness franchises.
The fitness industry itself is a mammoth that’s raking in over $25 billion in revenue each year. What’s more, the yearly revenue for fitness & health facilities is expected to exceed $30 billion by 2022. Today, there are over 100 diverse fitness-related franchises. They run the gamut from nationwide gym networks to franchises that focus on trance yoga.
Why Buy Into Fitness Franchise in 2019?
- There’s something for every budget – the entry point of a fitness franchise ranges from as little as $15,000 (or even lower) to a whopping $1 million, with the average investment being around $245,000.
- You can keep your current job – It’s always prudent to have some source of income to tide you over especially during the first year of the business. The good news is that several fitness franchises will allow you to keep your job until your new business really gets off the ground.
- Better work/life balance – unlike sectors like QSR franchises, fitness franchises are not as demanding because you can squeeze in a quality family or social time.
- Diverse sources of revenue – A gym, for instance, can generate revenue from membership fees as well as creative ways like personal training, weight loss products, branded items, classes, etc.
So, if you feel that 2019 will be the year you finally become your own boss, fitness is the franchise sector that you need to check out.
QSR (Quick-Serve-Restaurants)
Food franchises are the hallmark of the entire industry. In fact, QSR franchises like McDonald’s are almost synonymous with the concept of franchising. They have been trail-blazers for so long, and they will certainly be popular franchise industries in 2019 and beyond.
With the US economy expected to remain strong and unemployment numbers low, Americans are busier than ever, implying one thing: they want their food fast. So, as long as the economy thrives, QSRs will continue to pull in big sales and enjoy large turnovers. The trick is to go for QSR franchises that serve high-quality, healthy food in the shortest time possible.
Why Buy Into QSR Franchise in 2019?
- QSR’s are evolving – quick-serve-restaurants are getting creative. They are now offering healthier drink options, veggie foods, snappier breakfasts, and much more.
- Greater Choice – you can now look beyond McDonald’s, Burger King or Subway and still make bank. Think about franchises like Dickey’s Barbecue Restaurant, Teriyaki Madness, Zoup, etc.
- Strong Brand at your Disposal – if you want to reap from a big brand, buying into QSR franchises like Domino’s or Subway is your best shot.
Home Services
With interest rates falling, home sales are finally up. This is a trend we’ll see in the next 12 months or so. That’s good news to home service franchises because more homes on sale are 20+ years old.
If you know where to look, you could be on your way to owning a franchise that offers sought-after home services such as:
- Handyman services
- Plumbing
- Residential/commercial painting
- Kitchen/bathroom renovation and remodel
- Window services
Other perennial home service sectors to look into include:
- Pet-sitting
- Land care services
- House cleaning
- Maid services
- Pest control
What ultimately makes home service franchise industry so attractive is the low price entry point. You can buy into a pest control franchise, for instance, with as low as $15,000 in cash investment.
There you go – 3 high-performing franchise sectors poised for major growth in 2019. Maybe one of the above franchise industries could be right for you. Start the journey to become your own boss today.
