Posted on Oct 04, 2013
Top 3 Youthful Franchises to Invest in
For those who want to own their own business, but aren’t necessarily ready to strike out by themselves, purchasing a franchise is a worthwhile option, especially a franchise that caters to young people.
Eating out is one of the main things that young people enjoy, but there’s more to them than just their dietary habits. Those between the ages of 18 and 24 make a huge difference in the marketplace, and as a franchise owner, you can use this to your advantage.
Although 57% of young adults eat at fast food establishments weekly, many of them do take their health seriously. Whether it’s an all-hours gym, or a soccer program for children, franchises that encourage healthy eating and exercise habits are aplenty. The list of available franchises are typically chock full of preservatives, but for the health nuts out there, healthier options do exist.
• GNC is the go to place for all your fitness needs. They feature in-house vitamin and mineral supplements, food, drinks and even cosmetics.
• 24 hour gyms such as Anytime Fitness are all the rage these days, and for good reason. They’re always open, they’re inexpensive to join, and for the franchisers, incredibly affordable to start.
• 9Round 30 Min Kickbox Fitness is another inexpensive venture in the franchise world. You’ll need to buy floor mats, punching bags, gym lockers and other supplies, but the price of those is significantly lower than it is to start many other franchises.
The food industry is one of the most fruitful, not to mention lucrative to invest in. If you can afford the initial startup cost, opening a fast food joint can lead to some serious money in your pocket. But, if it’s not burgers and fries you want, there are plenty of healthier options that garner just as much cash flow.
• If you like Subway, then you’ll love Jimmy John’s Gourmet Sandwiches. Locations are open late on the weekends, making them perfect for the college crowd, and the sandwiches are all made with fresh, healthy ingredients.
• Pita Pit is another late night hot spot for young people with a hankering for gyros, Philly cheesesteaks and Chicken souvlaki. The best part is there are vegan options for all the non-carnivores out there.
• Five Guys Burger and Fries may not be open 24 hours, but it is a regular on the Zagat survey’s “Best Burger” list. With over 250 locations in 19 states, Five Guys is the place to go if you need a greasy cure for a night on the town.
For twenty-somethings everywhere, jobs opportunities in retail are aplenty. Whether you’re a soon-to-be or long-time franchise owner, you can utilize this demographic when it comes time to hiring staff. Many young people, whether in high school, college or beyond, need part time jobs to keep up with expenses during the school year, and retail is where a majority of them end up finding a position.
• When it comes to clothes, brand names are incredibly important, and at Plato’s Closet, young people can buy these brands without having to break their banks. Another selling point is that they can sell their lightly used clothes here to make a quick buck, giving them that much more of a reason to come in.
• Everyone knows what Radio Shack is, making it a worthwhile franchise to invest in. Geared toward the tech crowd, the products in these stores have the potential to earn you quite a bit of money.
• Although Palm Beach Tan is a fairly expensive franchise to start, it has excellent earning power over time. Not to mention it’s very popular with the kids.
As you can see, franchises are not only a good way to make some extra money, but also a way to get some practice owning and operating a business. It may be nerve racking to front the initial startup costs, but with some motivation, and maybe a little faith, you’re likely to reel in the dough in no time.
James Anderson has always dreamed of being self-employed. After seeing the success a friend had with opening a franchise, he started looking into doing the same. He's currently presenting his findings on behalf of School Lockers and his own savvy for business.
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