Franchises for the Summer
I hope everybody had a great 4th of July. We’re now officially two weeks into summer and that means that it’s the perfect time for you to start a summer franchise. Here are five great franchise choices that will position you for success this summer and beyond.
- Kono Pizza - Pizza in a cone is more than just a novelty. With fresh, quality ingredients Kono Pizza offers customers a quick and easy food option. The franchise is looking to expand rapidly in the United States and offers franchisees three great paths to success. You can open a kiosk, a food cart, or a store - whatever setup is best suited for your situation.
- Kumon Math & Reading Centers - The demand for tutoring services for children is continuing to grow at a rapid rate. With school admissions becoming more and more competitive parents are looking for every opportunity for their children to get extra help. Kumon’s extensive experience helping children puts you in a great position for success right away. Whether it’s in the summer, the fall, or the spring the tutoring industry is going strong so you should get started today.
- Menchie’s - The Froyo craze is still going strong and Menchie’s gives you an opportunity to get into the game. With more than 70 rotating flavors you can ensure that your customers are able to get exactly what they want. Summer is the biggest time for this market, but it continues to be successful year-round.
- BodyBrite - The skincare industry thrives in summer months. People are more conscientious about their bodies and are willing to spend a lot of money to work on them. BodyBrite has a proven model to help you get into this industry at a relatively low cost.
- Dickey’s Barbecue Pit - Who doesn’t love some amazing barbecue on a hot summer day? And who doesn’t love running a franchise that has 5 major revenue streams? Put those two together and you have a franchise that is poised for summer success. Dickey’s franchisees can make money on dine-in, retail, take-out, catering, and holiday meals.
Interested in opening a franchise but not sure where to start? Take our free franchise matching quiz & find the perfect franchise for you today.
The Franchisee & Franchisor’s Point of View
Many of the characteristics of the perfect franchisee are shared by both a franchisee and a franchisor, but there are also some slight differences. A franchisor is more concerned with how an individual franchisee will fit into their business as a whole, and not necessarily how the single franchise will operate on a day to day basis (although that’s still important to them). Meanwhile the franchisee cares almost exclusively about the success of that individual.
Banish The Fear of Selling... Forever
Most prospects come with a firm belief in the product or service…but a limited strength in sales and marketing. Yet sales and marketing skills are the very skills they need to sell themselves and their services…the skills they need to keep the business alive! If your potential franchisees and existing franchisees are like most…they are lacking the "selling gene".
Why I Have an Issue with the Forbes Franchise Rankings
The 5-Year Growth Rate and 5-Year Franchise Continuity are both great independent metrics of how a franchise is doing on average. As a potential franchisee both of these statistics are vital for selecting a franchise - you want to select a franchise that will provide you with a high return on investment and which will survive in the long run. I think these are, as FRANdata and Forbes suggested, two of the biggest (if not the two biggest) and most obvious metrics for whether or not a franchise is a “good” opportunity for a franchisee. But how do you use these to determine which franchise is BEST? This is the fundamental difficulty in coming up with a ranking system - it isn’t the difficulty in separating the good from the meh from the bad - it’s separating the great from the good and the best from the great. In the case of these rankings I found it to be pretty difficult to comprehend how they differentiated between the top ranked franchises. For instance, if you look at the difference between Discover Map (Forbes #4), Just Between Friends (Forbes #5), & Seniors Helping Seniors (Forbes #6) they all have extremely close continuity ratings and substantially different growth rates. In fact, in the case of these three, the overall rankings are opposite the growth rate rankings. Seniors Helping Seniors is ranked at the bottom of these three franchises despite having a growth rate that is 31 percentage points higher than Discovery Map and a continuity that is only 2 percentage points lower. This suggested to me that continuity was viewed as the dominant factor. But that logic didn’t hold for the rest on the “Economy Class” Top 10, as BrightStar Care (Forbes #7) had the same growth rate as Pop-a-Lock (Forbes #8) but a continuity rate that was 12 percentage points lower. These comparisons show that these were not the only two factors that went into the rankings, which is understandable, but no other factors that are explicitly listed in their results seem to be major factors.