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Top Five Business Ideas for 2015

One of the things that makes Americans unique is that all of us have a bit of entrepreneurial spirit. Our country was built by people like yourself, who were ready to open their own business and become the economic leaders of tomorrow.

Restaurant Owner

Even if you’ve decided you want to start thinking about being your own boss, you need an idea of what type of business is right for you. Businesses come in all shapes and sizes and figuring out what works is vital to running a successful and profitable operation.

So here are the top five business ideas for you to consider opening in 2015:

  1. Restaurant Everybody has to eat, right! Americans absolutely love dining out, so running a restaurant can be incredibly profitable. Plus, opening a restaurant is one of the most fun things you’ll ever do in your life.
  2. Senior Care Americans are getting older, fast. As the Baby Boomers retire, the demand for qualified senior care is skyrocketing. Senior care businesses usually work by providing in-home care to people as they age. An owner of a senior care business focuses on finding new clients and usually hires others to actually provide the care.
  3. Business ServicesBusinesses spend billions and billions dollars a year that the general public never knows anything about. Services such as staffing, handyman work, cleaning, painting, marketing, billing, and consulting of all different sorts all make money by servicing business customers. Depending on what your skills are, you may find that you can easily fit into one of these businesses.
  4. Fitness As the health and fitness revolution continues, the demand for excellent fitness training is clearly outstripping supply. People are demanding quality gyms as well as in-home trainers to help them achieve their goals of living a healthier lifestyle.
  5. Home Based BusinessAlthough this isn’t a type of business specifically, working from home and owning your own business has never been easier. With technology making our world smaller and smaller every day, you should definitely consider running a business from home. It will allow you to balance your life in ways that you can’t imagine.

With any of these business ideas, starting a franchise is the easiest way to become an entrepreneur. Rather than having to deal with the stresses of doing everything from scratch, you can rely on established franchise systems to provide you with a turn-key business model.

If you’re interested in any of the business types above, click on the name to see franchises that are looking for new owners in your area.

If you’d like some help being matched with franchises that fit you best, click here to take our brief franchise matching quiz. A few simple questions will allow us to understand which type of businesses will work for you.

A Break Down of Franchise Royalty Fees

When you first start your franchise you typically pay a franchise fee upfront. This will cover a variety of things that depend on the franchise you're dealing with, but often it will go towards initial training, marketing, and the rights to use the franchises logos, names, systems, and products. But that's not the only fee that franchisees will pay to a franchise. In addition to the initial franchise fees, the vast majority of franchises will charge their franchisees royalties that can come in one form or another. These royalties will often go towards ongoing training, sales of goods directly from franchisor to franchisee, and advertising and marketing efforts. The exact terms for these royalties are set out in your franchise agreement, but they come in a few common forms.

Steps to Select and Protect a Valuable Trademark

The first thing to keep in mind when selecting a trademark is that not all words and names are capable of being protected as trademarks. No one business owner can claim exclusive rights in generic terms and logos, because all business owners need to be able to use these in order to identify their goods or services. Thus, a residential painting franchise likely could not claim exclusive rights in the name “Painting Pros”, because this is simply a generic description of the services that the business offers.

5 Hot Franchises for 2014

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.