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.
Running a Franchise While Keeping Your Career!
Something that is possible with franchise ownership that may not always work with a start-up business is the ability to maintain your career while you run your business. Although many franchisees rely on their business unit as the basis of their revenue stream, there are more people interested in buying a franchise to generate a second source of income. A flexible franchise option makes this a possibility and can afford some opportunities that other franchises cannot.
Minority, Women Entrepreneurs Find More Opportunity in Franchise World
While there are many risks and hurdles involved in starting a new business, there are also many rewards. If you’re ready to start it up, but aren’t in the position (financially or otherwise) to risk it all in starting something new, you may consider franchising. Franchising offers many benefits to aspiring entrepreneurs, especially to minorities and women, who are seeing more opportunities in the franchise world in recent years.
Social Media Will Sell Your Next Franchise. Just ask the Former VP of Marketing at the IFA
Franchisors need to have guidelines for franchisees when it comes to using social media, but to date, most have not put together formalized play books for franchisees to follow. There are plenty of things you can do so your franchisees can create innovative marketing strategies using Twitter, Facebook, location based networks, blogging, etc., as long as they understand the guidelines of the franchisor first.