The fitness industry continues to be a safe investment. Still, it is crucial to choose one that fits your net worth, the commitment necessary, and your personal preferences for the highest rate of return. When deciding which one is right for you, these are the factors to hone in on.
The consequences of a global pandemic took their toll on many businesses across the nation and around the world. Some industries appeared to fare better than others. Home services are one such sector that has not only seemed to survive but, in some cases, thrived in the pandemic atmosphere. But what are the forecasts for home service franchises as we head into a recovery period? Are they a wise investment for those looking to get their franchise feet wet?
According to recent statistics, home services is a $506 billion-plus dollar industry, equalling the combined exports total of the United Kingdom and Canada. The total estimated in-home emergency spending is around $23.3 billion; home maintenance spending is about $61.9 billion; renovation and home improvement are the top $420 billion. The home services market also employs approximately five million people in the United States, covering the trade industry around 3% of the total workforce. About 16 jobs per second are gained in America. Forecasts show no end in sight, and rapid growth is predicted over the next ten years.(more…)
As we head into the second quarter of 2021 with hopes that a vaccine will help the nation recover and return to normalcy, many who enjoyed flex and remote working are not excited to go back to the status quo. That has workers worldwide considering switching gears and attempting to find more job security and start down the road of accumulating wealth. Business start-ups post-pandemic can be a risky proposition, but not if you do your research and consider franchise ownership. Franchises offer considerable advantages to entrepreneurs, but only if they choose wisely and find the right fit. (more…)
It’s easy to understand why initially someone would find the idea of owning a Chick-fil-A franchise appealing. When it comes to most business metrics for fast food chains, it dominates. QSR magazine found that in 2016, the chain averaged $4.4 million in sales per restaurant, with their locations only being open six days a week. But before you decide to invest, there are three crucial things you need to understand about a Chick-fil-A franchise that may have you rethinking how great they are.
There are several types of restaurant models in the foodservice industry. Full-service restaurant franchises have an estimated output of 76.5 billion in the United States alone. Apart from fast food, full-service businesses offer the consumer a dining experience. Full-service restaurants cater to customers who want to be waited on, aren’t looking to be rushed, and desire the “dining experience,” quality food, and service.
2020 was a very challenging year for many industries, including the full-service restaurant. At the beginning of the pandemic, restaurants across the board saw a decrease in revenue. But with the shutdowns and social distancing regulations, most full-service franchises were forced to take a hiatus or to pivot to meet the challenges of a closed dining room. When you take from the experience that a full-service franchise provides, that leaves them with the need to compete in the arena of fast food, where the industry was already prepared for quick pick-up meals, without the routine already established.
The fast-food industry has encroached on every part of our personal lives, from food courts at malls to fast-food pickup. Although fast food has been a way of life since the 1970s, recent trends have changed over the past several years to introduce more variation and diversity to the industry. Menus are continually updated to cater to underserved demographics and entice a more diverse population. That is leaving many entrepreneurs with options to capture an entirely new and growing demographic.
Mass shutdowns and social distancing significantly impacted many businesses across the nation, and franchises were no exception, although they fared better than the rest. And although the economic impact is still looming as we head into the second quarter of 2021, there are some industries that not only appear to have weathered the storm, they have experienced a surge and appear to be headed into a renaissance for years ahead. The restaurant service industry, specifically the immediate service area, reported a revenue of over $239 billion in 2020, even amidst the pandemic. (more…)
As we move through 2021, many people hope that things will soon return to pre-pandemic normal. Although most of us are patiently looking forward to returning to life as we know it, not all workers are ready to go back to the nine-to-five grind. Things like remote and flexible working, a necessity during COVID, give workers a taste of freedom, which they may not be ready to give up when called back to the office. That has many considering the potential of business ownership.
A business startup’s problem is that it is very risky, especially in the uncertain atmosphere in which we currently live. But a franchise is different. Franchises are not startups; they are take-offs that require a lot less risk and stress. If you are ready to set out on a course to accumulating wealth, franchising can be your golden ticket. But there are three different types of franchise business models - which one is right for you?