There are many franchise industries that are growing rapidly from auto repair to quick service restaurants to financial services. Many resources such as the VR Franchise Showcase offer aspiring and established entrepreneurs with exciting and profitable opportunities with an established brand and business model. Here are three areas, for example that have grown in popularity:
Home Health Care
As part of one of the fastest-growing industries in the country, a home health care business may be appealing to the 10% of baby boomers who say it's "very important" to leave a business to their children, according to the Allianz American Legacies Study. Also, older Americans may have experience caring for their own aging parents, making them sensitive to clients' needs.
Check out the latest health care franchises available on the Franchise Showcase.
Auto Repair and Services
The automotive service industry is worth the look for several reasons. First, the United States lacks an efficient mass transit network. Because of this fact, Americans have come to rely upon their vehicles for daily transportation. The service segment represents nearly $90 billion dollars and is expected to continue to expand further regardless of the total economy. The average vehicle will stay on the road for nearly 10.5 years. Consumers are more likely to maintain their present vehicle rather than buy a new one.
Check out the latest auto repair and service franchises available on the Franchise Showcase.
Health Spas and Fitness Clubs
This industry in the U.S. includes approximately 18,000 facilities with combined annual revenue of more than $10 billion. With spa services, demand is driven by personal income and demographic trends. The profitability of individual businesses depends on efficient resource use and effective marketing.
With the fitness industry, demand is partly linked to income levels and also market demographics. The profitability of individual businesses depends on good marketing. The U.S. fitness centers industry includes approximately 22,000 businesses and nonprofits that operate 30,000 fitness and recreational centers with combined annual revenue of more than $21 billion.