Every year yields more franchise opportunities as consumers learn new fads and market shifts to adopt new services or technologies. This year is far from an exception. In fact, franchises are one of the fastest growing portions of the economy, a trend that is expected to continue thanks to more investment and rising consumer income. Here are some niche markets that are likely to see lots of growth in 2015, and why so many customers are starting to turn toward them.
Health Food Restaurants
There’s a big different between "health food" and health food restaurants. Health food restaurants appeal to those looking for a quality meal but also interested in nutrition, organic foods, locally-sourced ingredients, and similar benefits. The demand for healthy food in restaurants and food carts is high, but the demand is busy catching up. This is one case where being the new guy can really help a business stand out and succeed, even as the big brands try to catch up with new menus.
Tech Services and Support
Businesses of all kinds are increasingly turning to tech solutions. Some want to incorporate apps and mobile services into their business model. Many want to start using more Big Data to make decisions. Others are investing more in cloud computing or online services. But all these companies share one thing: Inexperience. Who is going to help them out? The right business consultation and service franchises, in the right place, waiting for the right time. This field is especially broad, encapsulating a variety of tech trends and needs that go far beyond traditional IT.
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The hospitality industry suffered a bit through the recession and various travel-related changes in consumer behavior, but now things are back on track in a big way. Franchises like Hampton have developed very brand-strong, franchising models that stand as an example to other industries, and these models are rapidly expanding internationally. Hospitality franchises, especially those that embrace modern technology as part of their amenities, have a bright new future.
Smart Fitness Services
Smart fitness services go far beyond the traditional gym franchise market, which is suffering from a bit of oversaturation these days (at least in the United States). Instead, the most promising fitness services of today offer new, unique ways to lose weight, stay fit, monitor eating habits, learn about healthy nutrition, and other valuable services. These services can be located in one spot or mobile, providing a whole new series of options for consumers. Fitness goes far beyond weights and gym memberships, and the demand is high. For innovative fitness franchises, check out the options available at Franchise Expo.
A lot of effort is being put into recycling materials and electronics, but many companies are unsure where to start. As a result, recycling franchises face a sea of new opportunities to help other companies out in their sustainable endeavors.
Craft Food and Drink
Craft food and drink franchises tend to specialize, and that specialization is reaping major profits thanks to high consumer interest levels. Some franchises are specializing in drinks like whiskey or craft beers to attract the crowds. Others are focusing on craft bagels, craft teas, craft sandwiches…you name it, there’s a business model for it. It’s a niche market that is rapidly becoming more than a niche, and franchises are benefiting.