Be Your Own Boss By Buying A Franchise

Author: Sarah Kunkle

Be your own boss by buying a franchise

A franchise is a great way to start your own business. They still require the same level of dedication as starting a business from scratch, but owners gain support and name recognition as well as an established business plan.

Fast food remains one of the top categories for franchise companies. Strong brand awareness among the largest franchises, like McDonalds, has helped turn the market for hamburgers into a billion-dollar industry. Name recognition remains one of the main reasons to start a franchise and the national ad campaigns conducted by fast food restaurants offer strong support for any new owner.

It's not just hamburgers and milkshakes anymore - Subway grew to be one of the top franchise opportunities by providing an alternative to burger joints. Dunkin' Donuts is another food service franchise that has pushed for growth in recent years as the company attempts to expand its brand beyond the Northeast.

Beyond food service, many other industries show strong growth. One of the fastest growing sectors among franchises is in-home senior care. Increasing demand for seniors to receive care at home has made it one of the largest franchise categories, according to Entrepreneur. As the baby boomer generation ages, there will be additional demand for senior care. Healthcare services require a high level of specialised training, so franchise would need to offer the right support for you to maintain qualified employees.

Franchises specializing in child services are also expanding. Kumon North America, a tutoring service, has over 2,000 centers helping more than 300,000 elementary students. Fitness companies have also begun to target children as well as adults. These franchises offer customers recreation or sports-themed workouts. There are even companies that aim to get people out of the gym by providing workouts at local soccer fields or parking lots.

No matter what type of business you chose, having a clear and proven business plan make franchises a good way to start your own business. 

In Brief

  • A franchise is a great way to start your own business.

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