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Overview

As we head into a post-pandemic economy, tensions about social distancing are starting to ease. Whether it will be a thing of the past or develop some hybrid of how it used to be combined with social space awareness remains to be seen. One industry hit hard by the pandemic is the food and hospitality sector. Some restaurants were forced to close their doors, while those who pivoted to alter their offerings and processes could stay afloat. Some even thrived in a new age of entertainment and dining.

Statistics about Restaurant Franchise Outlooks

According to leading forecasters, 2022 will be marked with numerous economic challenges, including the restaurant industry. Issues such as supply chain difficulties, frequent COVID infections still taking people from work, and the overall labor shortage and "Great Resignation" are all taking their toll on society as a whole and are being felt in the hospitality industry. 

There are also concerns that the shortage of available goods will drive inflation, leading to a downturn in the economy, and will likely plague the U.S. at least through 2023. In turn, inflation will make grain and beef products cost approximately 60% more than last year. The consumer will eventually absorb those increased costs, which will likely cut back and choose to prepare meals at home.

For restaurants to remain profitable, they must find new menu offerings with fewer choices and higher prices. Currently, consumer prices are already up an estimated 4%, which is an increase that we have not witnessed in nearly a decade.

The good news is that although costs are climbing, consumers are so happy to return to engagement with the outside world that they are willing to shoulder the increased costs. Despite the new COVID variant issues and other economic uncertainties that plague the U.S. and the world, consumer spending is beginning to rebound. 

The biggest hurdle at the moment is the labor shortage. Some workers laid off during the pandemic enjoy the Pandemic Unemployment Assistance that allows them to stay comfortably at home without returning to work. Many restaurants have offered incentive programs like higher pay and more considerable perks to get workers to return. However, those costs will eventually come down the pipeline and fall on the consumer. Labor costs currently are at a 20-year high. Combining that with the inflation rate equals higher menu costs, and how consumers respond is uncertain. 

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Remote and flexible working options during the pandemic have made many employees around the country think about the potential of starting down a new path. Franchise ownership is just one opportunity that has many excited about the prospect of accumulating wealth and enjoying more work/life balance. But how do you know what type of franchise matches your goals, strengths, and weaknesses? 

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Coming out of the pandemic, we have all developed a different perspective on what life is about and what makes us “happy.” As we delve into the ways that COVID has forever altered our vision of mental health and what makes us feel fulfilled, a lot of focus has turned to the issue of entrepreneurship and mental health. It would be intuitive to expect that starting a business comes with a whole lot of risk and stress. 

The first couple of years can be grueling and intense, which you might think could be the road to misery. But the research about entrepreneurship and positive mental health shows the exact opposite. Although there will always be some people who suffer from mental illness regardless of their career path or chosen work position, according to research, entrepreneurs enjoy more health and happiness on average than employees.

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A2021 rages on, many who found themselves having to get creative with working restrictions due to the pandemic are anxious to return to life as we knew it. But not all are excited about going back to the daily grind. That has workers around the nation considering the potential of becoming a business owner. Business ownership is a risky proposition. Luckily, opportunities like franchise ownership can help reduce the risk of going at it alone. However, with every new opportunity comes inherent risk. If you are ready to start down the path to franchise ownership, these are the best ways to mitigate your risk.

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Donuts have been around as long as apple pie and baseball, and Americans can’t seem to get enough. Donut stores' market share in the food industry is over $7 billion, with nearly 14,000 various businesses, and will continue to grow 5.47% in 2021. As we head into a post-pandemic economy, sales of donuts are forecasted to grow. If you are looking for a franchise opportunity, the Donut Experiment might be your ticket to financial freedom and wealth accumulation. Unlike other donut giants in the industry, there is still plenty of uncharted territory for owners to claim!

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Staying fit never goes out of style, and Americans are particularly drawn to group-based workout opportunities. One such activity that has gotten a lot of attention in recent years is pilates, thanks primarily to the interest of a whole host of public figures. Entertainers and athletes swear by the exercise, with everyone from Madonna to Jennifer Aniston, to soccer player Cristiano Ronaldo and Pittsburgh Steelers wide receiver Antonio Brown, touting pilates’ benefit. Created in 1926 by Joseph Pilates, the popularity of Pilates among fitness enthusiasts has skyrocketed in recent years, with spin-offs and adaptations popping up to the original 34 exercises. Today, the market for pilates studios continues to grow. Today’s market is worth $12.8 billion, and it is projected to have an annual growth rate of 11.7% through 2025. 

If that isn’t reason enough to consider a future as a pilates franchise owner, think about this: Currently, about 9 million Americans practice pilates. A BODYBAR pilates franchise can help you capitalize on that potential with a business that offers an anticipated return on your investment in less than three years, in addition to a predicted profit margin of 30%. And most studios achieve profitability in as little as three to six months.

Best of all, a BODYBAR pilates franchise doesn’t require you to have any fitness industry experience. All that is needed is a passion for fitness and a desire for a flexible, empowering career. Whether you are an existing business owner or have always dreamed of owning your own business, investing in a BODYBAR pilates franchise may be the answer you have been looking for to achieve your financial and business goals.

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Remodeling a home’s kitchen is at the top of many homeowner’s wish lists. According to research conducted by Statistica, the most popular reason given by 37% of homeowners for why they are finally embarking on this type of renovation is having the funds to do so, according to research conducted by Statistica. But this is not an inexpensive update. Houzz.com reported that the median amount homeowners spent in 2020 remained stable at $35,000.

With home improvement booming in general in 2020—spending grew by nearly 3% to $420 billion in 2020, per a recent study by Harvard University's Joint Center for Housing Studies (JCHS)—the time is now to get in on this lucrative franchise opportunity. Especially since researchers involved in that study expect the numbers to climb an additional 4% in 2021.

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By 2025, the worldwide market for all things beautifying will increase even more, to an estimated $758 billion.

According to a recent report, there are significant opportunities in this rapidly growing market for lash extensions. Lash extensions appear to impact mascara’s sale, with several major makeup collections not even including the once-beloved product in their initial offerings. CNN.com reported that between 2016 and 2019, sales of false lashes and related products (kits, glue, and applicators) increased by more than 80% to $313 million in annual sales. What’s more, lash extensions are excellent repeat business. According to The New York Beauty Institute (NYBI), the average lash extension customer will return to their preferred salon every four to six weeks for a new application. 

Savvy entrepreneurs understand the importance of seizing an opportunity of this magnitude. Now is the time to invest in a franchise with a premier position in this burgeoning industry, The Lash Lounge. 

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As we head into a recovery phase after the pandemic, many are considering the prospects of switching gears and trying something new. The only real way to start accumulating wealth is by going into business for yourself - but start-ups can be risky. A franchise like FocalPoint Business Coaching might be your ticket to financial stability and personal fulfillment.

According to statistics, business coaching has been an $11.6B industry just in 2021. The annualized market growth is somewhere around 1.2%, which means it is accelerating faster than the overall economy. The business coaching industry is the 9th ranked Educational Services industry and the 474th largest industry in the nation by market size. Factors driving the industry are a growing life cycle stage and an increasing number of households in the US making more than $100k.

Life coaching is currently the second-fastest growing industry around the globe and increasing annually 6.7%, with an estimate of nearly 8 million coaches presently practicing in the United States. And the demand for life coaches is anticipated to climb at a rate of almost 5.5%. The market value will reach $1.34 billion by the year 2022. 25% to 40% of Fortune 500 companies insist on executive coaching as part of their promotional opportunities for best performers and top earners.

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The average person is living much longer than they did just a decade ago - which is fantastic, but it is also putting some strain on families caring for their aging parents and loved ones. According to statistics, In-Home Senior Care Franchises totaled $12.4B in 2021, with a market growth of 6.5%. That means that the total market size of In-Home Care Franchises grew faster than any other business franchise overall. 

Another factor driving the need for In-Home Senior Care is an advanced push to move more patients from a hospital to home healthcare. The number of adults older than 65 will continue to grow steadily over the next decade due to advances in medical care and living standards. Senior care began its sector growth as far back as the 1960s and has grown substantially. As the government’s assistance with Medicare and a health campaign focused on awareness from the National Institute on Aging began to increase, so did the life expectancy of those living past 65 years old. 

Home healthcare is currently the most significant opportunity for the senior care franchise industry, be it medical care or non-medical care services. Non-medical assistance involves helping seniors with everyday living skills, chores, taking medication, and being a companion. ComForCare is one of the leading franchises for both medical and non-medical home-based senior care. Overall, the United States home care market is anticipated to grow to $225B by 2024, meaning there will be endless opportunities for those looking to enter the in-home care services market. AARP reports that the total senior population will increase by over 21% by 2050, which will only further increase the need for senior home care. 

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Ask most people if they would like to have a cleaning service handle the scrubbing, dusting, and vacuuming around their homes, and the odds are strong that you will get an enthusiastic “Yes!” People’s interest in hiring someone to handle their housework is a big reason why the residential cleaning business is doing so well. IBISWorld reports that the U.S. market size for residential cleaning service franchises will hit $899.9 million in 2021.

The growth potential in this industry is on an upward trajectory, with an anticipated 10% increase in business by 2026. Currently, about 1.7 million people are employed by the industry. Still, unlike some businesses, turnover is very low—only about 2%—with an anticipated 6.6% job rate growth every year for the next five years. What all these numbers translate to is a great franchise opportunity.

What’s more, the number of households interested in a residential cleaning service is expanding. Residential cleaning services are no longer viewed as a luxury by many Americans but as a necessity. You can capitalize on this and realize your dreams of owning your own business when you invest in a Molly Maid franchise.

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Across the U.S., employees are not looking forward to returning to the same daily grind, and the good news is, they don’t have to. For many, business ownership is a feasible option to secure their financial future. A franchise is a better way to build wealth than trading time to make someone else’s fortune. If you are looking for an excellent franchise opportunity, then owning a Grease Monkey franchise might just be your ticket to financial security. 

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Address: 3400 N US 75-Central Expy 1000 Ste #110, Richardson, TX 75080
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