There are more opportunities to own a franchise today than there were even just five years ago. With so many brands expanding into the franchise world, there’s a number of sectors to choose from if you want to build your own franchise empire.
What’s Sparking the Rise in Franchises?
Millennials are driving growth when it comes to franchise ownership. Educated, entrepreneurial-driven and tech-savvy millennials have been pushing away from traditional work models and leaning more towards the gig economy and self-employed work. With a desire to have their own business but with a lack of equity or a nest egg to start one from scratch, owning a franchise has become a popular alternative for this age bracket.
Women, in particular, have also been buying more franchises over the past few years than in the past few decades. With more women working, and with the wage disparity gap gradually closing in, the low startup fees of franchises are no longer a challenge. Greater independence, better work-life balance and more wealth have enabled women to take on the risk of starting their own business. And with franchises offering a lower risk profile than starting a business from scratch, as well as lower start-up fees and fewer responsibilities, it makes the perfect choice for those with an active lifestyle.
Trends in Canadian Franchises
Fitness
Do you have a passion to help Canadians lead a more active lifestyle? If so, a fitness franchise might be just the opportunity you need to live a more fulfilling life. Popular fitness franchises, such as Anytime Fitness and Planet Fitness, are among the most recognized opportunities today. But there are smaller fitness options as well that can be launched with affordable startup fees.
Franchise Resales
Another popular Canadian franchise trend is resales, which is basically the practice of buying an already existing franchise that is currently in operation. Why would someone want to do this? Well because it’s an excellent way to purchase an already established business with steady cash flow, customers, and staff. With a number of baby boomers retiring across Canada, it’s the perfect time to snatch up an already successful operation that you can start making money from immediately.
Work From Home
If you’ve ever dreamed of working from home, now you can. Brick and mortar businesses aren’t the only option when it comes to owning a franchise. There are a number of home-based franchise opportunities that will allow you to work right from home. Not only do you get to work from the comfort of your own couch or office, but you can also enjoy fewer expenses.
Wellness and Spa
If you live in one of Canada’s major cities, you’re likely aware of the many popular spa or wellness franchises like Hand & Stone Massage, Medicine Shoppe or Massage Addict. With locations coast to coast, many of these franchises are quickly expanding and building a solid reputation for themselves. What’s in it for you? Unique business models that offer exceptional training, marketing support and predictable, recurring revenue potential. Plus, many of them have low investment and startup costs, making it an easy choice over starting an operation on your own.
Mobile Services
Mobile services are becoming one of the most popular franchising opportunities today. And not just junk removal. We’re talking power and pressure washing services as well. Mobile, residential, and commercial industrial power washing and clean up services are on the rise and growing fast. With low overhead, no storefront costs, and high earning potential, you can easily maximize earnings in as little as a few months.
Eager to start your own franchise? Get in touch with us at H2GO Mobile Wash to learn more today!
