5 Fast Growing Franchises in 2015
Which franchise should you open? There are a lot of factors that go into that decision, but one criterion that you absolutely have to consider is how quickly that franchise is growing. You can imagine what it would have been like to open a McDonald’s way back in the 60’s or 70’s, seeing that it has turned into one of the most successful franchises of all time.
If you’re interested in opening up a franchise that’s fast growing in 2015, we recommend checking out one of the following franchises:
1. Jimmy John’s
With over 2,000 locations already, Jimmy John’s can’t open fast enough! While the sandwiches they produce are simple, customers absolutely love their quality, consistency, and speed. The average annual sales for 2013 was $1,470,812, which leads to unbelievable profits for franchisees. Jimmy John’s is only getting bigger, and fast!
2. Big Cat
Ever heard of an electric bike? No? That’s because they aren’t as big in the U.S. as they are all over the world. In Europe in 2014, there were an estimate of 1.4 Million electric bicycles sold, and Big Cat is leading the charge in bringing electric bikes to the U.S. If you want to be on the cutting edge of transportation in the U.S., you have to check out Big Cat.
3. Cruise One
Americans absolutely love going on cruises. This is a fact. Cruise One is a fast growing franchise that’s taking advantage of this fact, where franchisees help customers plan the cruise of their dreams. With over 900 franchises already around, the current franchisees can tell you how popular their product really is! As the economy continues to recover and Americans have more money to travel, Cruise One is poised to take advantage!
4. Fleet Services International
I bet you didn’t know that the automotive aftermarket is the second largest franchise category, only to the food franchise business. Corporations and the government are in desperate need of organized and qualified maintenance, and Fleet Services as at the forefront of the industry. Having partnered with Richard Petty, the brand recognition is off the charts!
5. Doc Popcorn
It may have flown under the radar, but the Doc Popcorn franchise was actually acquired by the Dippin’ Dots franchisor in 2014. That means that it now has the full force of the Dippin Dots franchise behind it driving their growth. Snack food is exploding! As Americans are out and about more frequently, Doc Popcorn brings a tasty treat right to them. You may see a Doc Popcorn in every shopping mall you visit by the end of the year!
Picking the right franchise for you is a very important process. We recommend checking out a number of different options before settling on two or three to explore very deeply.
If you’re interested in any of the franchises above, click on their name and read even more about them.
If you’re thinking about opening a franchise and want to be matched to opportunities looking to open in your local area, click here and take our brief quiz and we’ll help figure out which franchises are rigt for you!
How Franchisees Can Grow Their Sales
However, once the ribbons come down and time passes, franchisees begin to recognize the challenge ahead and that, in many ways, they're on their own: regardless of the amount of support their franchisor provides, the franchisee is ultimately responsible for generating sales for his or her new business.
Should Franchisors Consider Private Equity Investments?
How can you be sure it’s the right choice for you? We asked Glen Kaufman, Managing Director at American Securities, a private equity firm with a consistent track record in the industry. The middle-market firm invests in companies with revenues ranging from $100 million to $1 billion.
What is an Area Representative?
The reason why anyone would choose being an Area Representative is that they are paid a certain portion of the initial franchise fee of each new franchisee they solicit as compensation. Aside from the sales commission the area representative may get paid by the franchisor a portion of the royalties received for servicing franchisees. In some cases, franchisors will pay the area representatives a portion of the fee received from new franchisees in the reps’ territory even though the area representative may have had nothing to do with the screening or recommending that particular franchisee. However, all these and other contingencies- such as compensation for furnishing many of the pre-opening and on-going services to the franchisee- should be covered in the area representation agreement.
