5 Hot Franchises for 2014
Contributed by Franchise Financing Partner Guidant Financial Group.
Looking ahead to 2014, quick service food and cleaning services are perennially popular and lucrative franchise opportunities. Here are five white-hot franchises that may surprise you.
Painting with a Twist
Art, friends, and wine. Painting with a Twist is burning up our Facebook feeds and growing at a tremendous rate. Cathy Deano and Renee Maloney began franchising their Corks N Canvas business as “Painting with a Twist” in 2009 and there are now 106 locations to enjoy social art instruction.
School of Rock
Good times or bad, people will always spend money on their children, making kid-centric businesses virtually recession-proof. School of Rock combines music education and rock n roll with the added benefit of an unofficial tie-in movie (2003’s The School of Rock starring Jack Black). Franchising since 2005, there are over 100 schools worldwide with more than 10,000 little rockers enrolled.
Liberty Tax Service
Taxes may not be sexy, but they’re unavoidable. What makes Liberty hot? It’s on both the Entrepreneur list of Fastest Growing Franchises (#5) and the Forbes list of Top Ten Franchises for the Buck (#7). There are over 4,000 franchise locations in the U.S.
The company was founded in 2000 in Richmond, Va. and began franchising in 2008. Currently there are 123 franchise units in the U.S. ShelfGenie franchisees design and install custom shelving featuring the trademarked Glide-Out shelves. This business can be run from home and is an Entrepreneur Top 10 New Franchise for 2013.
HUMAN Healthy Vending
Everyone from the media to educators to the First Lady of the United States are waging a war against fatty, nutrient-poor food. There’s never been a better time to jump into the health food business, and this company does it in an innovative way: through vending machines. Founded in 2008, HUMAN Healthy Vending has been lauded in the press as one of “America’s Most Promising Companies” (Forbes) and Entrepreneur Magazine’s “100 Brilliant Companies” of 2011.
MinorityFran Changing the Game for Minorities in Franchising
As far as the incentives go, there are three main categories that franchisors tend to work with when they're looking to increase access to their systems for minorities. The most popular method used, by far, is to offer discounts on initial franchise fees. The second most popular incentive offered to minorities by franchisors is financing assistance and other discounts to help pay off the sizable franchising fees that new franchisees incur. Finally, in rare instances, franchisors offer minority franchisees administrative and development support above and beyond what they provide to the non-minority franchisees in the system. Here is a list of franchises that have gone the extra mile to reach out to minorities looking to get involved in franchising.
Big Sandwiches Equal Big Profits at Potbelly's Sandwich Works
The Potbelly’s train is firing on all cylinders and has successfully penetrated the uber-competitive fast casual sandwich sector. Potbelly sells a basic sub (PBJ, Pizza, etc) with relevant options (health, supremes) and offers an awesome dining experience. Their main target demographic is the lunch market, and their lunch lines are often out the door. Their menu includes soups, shakes and salads in addition to subs and the old-wood decor and live music make for a warm, neighborhood feel. Atmosphere is only the beginning though. Their products are well-crafted and satisfying. The quality of their ingredients is a cut above, yet price remains similar to that of their competition.
2015 Top 5 Restaurant Franchises
Without a doubt, the industry most tied to franchising in Americans' minds is food. Some of the most popular restaurants out there, including McDonalds, Subway, Chik-Fil-A, and many more, can credit theirmeteoric growth to the skill of theirfranchisees.