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.
What is a Franchise Consultant
Seriously? What is that supposed to mean?
The Co-branding Franchise Trend
Borrowed from the brand management term “Co-branding,” this technique has been used for numerous brands to complement each other.
Know Before you Go – Non-Compete Provisions in Franchise Agreements
In general, non-compete provisions state that the franchisee will not, during the term of the franchise agreement and for a reasonable period thereafter (typically two or three years), own or be involved in any “competitive business.” What constitutes a “competitive business” will vary from franchise system to franchise system, but most franchisees can generally expect to be prohibited from taking part in any business that offers goods/services that are either identical to or competitive with the goods/services offered under the franchise system. Non-compete provisions must be limited in geographic scope, and generally cover a set radius (usually somewhere around 5 to 25 miles) around the former franchised outlet, and possibly also the outlets of other existing franchisees.