what types of businesses are franchises?

What types of businesses are franchises?

The great Ray Kroc left several indelible marks on the franchising industry. The mastermind behind the franchising empire, McDonald’s, showed America what was possible when he took the small burger joint to unthinkable heights as one of the strongest business models in franchising history.

Unfortunately, the legacy of McDonald’s also gave many aspiring entrepreneurs the wrong idea about franchising. Meaning most people think that buying a franchise means they’re going to be flipping burgers for the rest of their lives.

Wrong!

Today, there are more than 783,000 franchise businesses out there and McDonald’s, while incredibly impressive, makes up less than 2 percent of them. And while quick-service restaurants are a popular franchise sector, they rarely rank as the most popular growth segment in a given year.

Here are the two most important things for you to know on this topic:

First, franchising exists in practically any sector you can imagine. Beyond the restaurant industry, industry categories include services like home repair and remodeling, home furnishings, home cleaning and maintenance services. There are business support services like shipping, accounting, and printing services. Automotive repairs exist in franchising. Hair salons are franchises. Boutique fitness studios are franchises. With more than 3,000 franchise brands available today, you can bet there’s an industry that suits practically anyone’s interest.

Second, if you’re basing your franchise exploration on the goods or services the franchise provides, you’re focused on the wrong thing. Successful franchise owners know that their key to success was matching their skills with a franchise system built to optimize those skills. Happy franchise owners thought about the lifestyle design they wanted the franchise to support, then went and found the franchise that fit that dream. Smart franchise owners got some help from an expert to find that perfect fit.

So if you’re excited to learn how you can be a successful and happy franchise owner, make the smart decision and give me a call. As a franchise consultant of more than two decades, I’ve helped thousands of franchise candidates determine if a franchise business was a good fit for them. Best of all, my services never cost aspiring franchise owners anything.

I can be reached at 919.846.7111, by email at jjudy@franchoice.com or click the button below to schedule an appointment.

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