3 Basic Types of Franchises

3 Basic Types of Franchises

Most people think about fast food when they hear the word “franchise,” but that’s just one kind of franchise out there.

Depending on who you talk to or read, there are two or three different kinds of franchises. Some of them may well be top franchises for 2016. We’re going with three since this approach gives you more details about each type and to consider what education and training are good matches for your military experience.

1. Food Franchises: The King of Franchising

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Not all food franchises are fast food.

We might as well begin with what people are most familiar with: food franchising.

Notice we didn’t say fast food. That’s because more franchises have opened up in recent years that emphasize homemade and “artisanal” meals. These franchises differentiate themselves from the usual suspects, including that well-known “Scottish” chain as one retired USAF light bird of our acquaintance likes to call it.

Pizza franchises make Enterpreneur’s list of types of franchises to watch, not necessarily because they are the franchises with the highest success rates but let’s face it: America is not about to give up on pizza. Think about the brands you’ve noticed popping up in the past few years and what they feature:

  • Buffets with healthy options like salad
  • Brick-oven baked which frankly, tastes better
  • A renewed emphasis on New York or Chicago style
  • Fresh, wholesome ingredients delivered every day

 

2. Retail Franchises: Name Recognition Works!

Retail franchises have a small-shop feel with great name recognition. They may sell pretty specific items like mobile phones or batteries (and now, light bulbs). Others sell a lot of products within a specific, targeted market like spices (cooks) and pet products (pet owners)

What helps, of course, is the name recognition. The other element is that these retail stores are actually a lot of fun to visit. Part of these franchises are affiliated services like dog training and cooking, craft, woodworking classes. Others feature special classes for kids. These kind of services help boost the community appeal of the franchise.

3. Service Franchises: Hottest Franchises for Veterans?

Service franchises are a third kind of franchise. Think about auto repair franchises, postal services, and the growing number of senior care franchises. Other options that may be good matches for the skills and education you can offer include:

  • Accounting and tax preparation
  • Education and tutoring
  • Employment
  • Real estate

Entrepreneur puts fitness front and center for emerging service franchises. Certainly, it’s a good fit since most vets, particularly those who recently left the service and are probably still in pretty good shape.

What could be better than owning your own gym? Plus, many of these franchises offer a nice retail arm where your customers can buy apparel advertising your business and purchase a smoothie or some other nourishing drink.

Most of the fitness franchises out there are for adults and insurance rules pretty much restrict admittance to kids under 14 or even 16. Not surprisingly, there are franchises that cater to younger kids. We aren’t talking about baby gyms that are intended to help with socializing the rugrats (and get parents out of the house before they go crazy), but real age-appropriate exercise centers.

A lot of these kid gyms operate under a “child enrichment” focus and blend exercising with stuff kids like: music, art, building toys. Others are geared for older elementary to middle school age kids are are real fitness centers adapted for kids’ needs and capabilities.

 

 

 

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