FRANdata In The Press
If you want to find a great opportunity in franchising, it’s worth asking two questions: What categories are booming (or about to boom)? And why?
We can certainly answer the first one. At the end of each year, Entrepreneur looks across the franchising space and the world at large, and analyzes industry trends and year-over-year unit growth. Then we produce a list of franchise categories that we expect to thrive next year. You can see that full list of predictions, along with the brands inside each category, here.
As the population of seniors continues to grow along with increasing life expectancy rates and chronic disease diagnoses, so does the immense need for senior care services.
There are more than 166 active franchise brands in the children services industry, representing more than 10,100 units across the United States.
If you want to understand the franchise industry today, this stat is a great place to start: More than half of all franchise units operating in the U.S. last year — to be exact, 53.2% of those units — were owned by multi-unit owners. That’s according to franchise research and advisory firm FRANdata.
Continuing the trend experience in years before the COVID-19 pandemic and building on the growing consumer focus on mental well-being, the health and wellness segment continues to dominate the franchise marketplace. FRANData’s most current New Concept Report, which tracks new franchise brands entering the market, showed more than 25 percent of brands that started franchising in Q3 and Q4 of 2022 were associated with offering health and wellness services.
If you’re looking to buy a franchise, you can easily drown yourself in data. Just pick up a company’s franchise disclosure document (FDD), and you’ll see granular breakdowns of every brand’s health. That’s important stuff. Look closely!
2022 has been a banner year for the International Franchise Association, and more specifically for you – our members. We have launched a number of new initiatives to better serve you and support the entire franchising community, strengthening the sector as we look to the future.
The same playbook that has notched high returns acquiring things like foreclosed homes and highway rest stops is being tested by a family-oriented franchise.
The franchise directory established just a few years ago by the U.S. Small Business Administration may be a thing of the past in the near future.
In October the SBA announced its intention for a rule change that would eliminate the directory. Launched in 2018, the directory is a running list of franchise brands and business models that meet eligibility standards when it comes to financing.