Having an understanding of today’s thriving franchise industries is useful for a number of reasons. Are you an entrepreneur looking to start a new franchise brand in a growing industry? Do you happen to own a business in one of these sectors that would make a great franchise? If so, Accurate Franchising, Inc. can help you take a strong franchise concept and bring it to life. Do you already own a franchise in one of these spaces that’s underperforming? Our team can help you to see better results.
Take a look at some of today’s fastest-growing industries that have great potential to be thriving franchises!
1. Sustainability
There’s no question that consumers and businesses alike are especially interested in sustainability. Utilizing renewable resources isn’t just prudent practice for the planet; it can also help save money. That’s likely why investing in opportunities in the environmental, social, and governance segments has increased so much. It’s estimated that the value of these assets has increased from US$22.9 trillion in 2016 to more than $40 trillion in 2020.
Franchises that leverage green industry trends have a unique opportunity for growth in 2021.
2. Pharmaceuticals & Healthcare
The pharmaceutical industry and related manufacturing are also growing at a rapid rate. It’s estimated that the industry grew by 4.2% between 2019-2020. As the aging population increases, the demand for medication is growing with it.
The advent of technology has caused lots of disruption in the healthcare industry, and there’s room here for franchises to capitalize. Franchises that make it easier and more affordable for patients to access their medication and other healthcare necessities will potentially find themselves in high demand. That’s why we predict pharmaceuticals and healthcare will be robust franchise industries for years to come.
3. Senior Home Care
It’s estimated that the home healthcare industry will add nearly 350K new jobs over the next five years – that’s an increase of 24%. In our estimation, a good deal of this growth will be in the senior home care sector. The COVID-19 pandemic had devastating consequences for retirement home residents, leading many families to reevaluate the benefits of senior home care. Clients have the opportunity to live in their homes and manage their routines, with care provided by experts who come in as often as needed.
These are just a few of the franchise industries we predict will be growing throughout 2021 and beyond. Whether you already have a franchise in one of these industries or are interested in starting one, Accurate Franchising, Inc. can help. We provide franchise consulting services to franchisors at every stage. Our team knows how to help with:
- Creating or refining Franchise Disclosure Documents
- Implementing new marketing programs to find leads
- Developing training and support programs
- Building operational systems
When you contact us, we’ll create a customized plan to help you achieve your franchising goals.
Contact Accurate Franchising, Inc. today to learn more about these and other growing franchise industries.
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