Are you consider to buy a franchise in the near future? Many people that I meet upon learning me ask the questions What is the Hot franchise? or What is the Top 3 franchise in the market? While I would like to get them the pick of the week or Host Franchise list it truly depends on the person’s interests, location preference, work-life balance, and financial goals. Entrepreneur Magazine had used its several years’ data to prepare Top Franchises industries for the upcoming year, along with several other industry analysis to prepare Top 3 franchise industries list. As you read through it, keep in mind that it is intended to give any endorsement or tip. If you are considering to buy a franchise you are doing proper due diligence Read the FTC mandated franchise disclosure document, consult with an attorney and an accountant, and talk to as many existing and former franchisees as you can to find out if the opportunity is right for you based on your working style, financial goals, interests, and your local market conditions

2018 was one of the most interesting years for Franchise business. Market deregulations, Tax reforms, and improved consumer confidence fueled significant growth during 2018. This momentum will continue through 2019. In fact, there are industry analysts expecting the Franchising will continue to outpace the other sectors. As unemployment numbers are dropping, it will also create challenges to find workers for small businesses, however, Franchising Brands recognition will help with attracting and retaining employees.

What is the Top 3 Franchise Industry considered for new Franchise buyers or someone expanding their business goals? Millennials are one of the major consumers and they are looking to live a healthy lifestyle, spending more quality time with the family and convenience. The following are the top 3 franchise industries that would support these millennial thought process.

(1) Health & Fitness Franchises

Fitness franchises are like hot cake right now, and rightly so. More Americans are trying to stay fit and healthy than ever before, which is not surprising given that 70% of adults alone are struggling with weight issues like obesity. In the past couple of years, we’ve seen newer, more robust, and innovative fitness startups make a foray into the marketplace, primarily fueled by Americans insatiable thirst for wellness and healthy lifestyle.

With that being said, it’s worth noting that health & fitness is a massive industry that pulls in more than $31 billion in revenue annually. In fact, it’s projected that the industry will experience year-over-year growth of 6% for the next 5-10 years. Currently, there are more than 100 health & fitness franchises, with more expected to start franchising in 2019. And they are as diverse as they come, ranging from yoga-based exercise studios to national gym networks and everything in between.

Growth aside, there are plenty of other reasons why health & fitness is a go-to niche if you want to buy a franchise in 2019:

• Low, flexible entry point – you can buy into a fitness franchise for as little as $15,000, all the way up to $1 million (or even more). What that means is that there’s always a fitness franchise that’ll match your budget and investment needs.
• Great work-life balance – the beauty of a gym or fitness facility is that it’s not too demanding on the franchisee. You’ll have plenty of time to exercise and maybe spend quality time with your loved ones.
• Multiple revenue sources – if you’re creative, you can make money in myriads of ways in a fitness business. Besides traditional membership sales, you can also offer wellness classes, sell branded products, provide weight loss programs, and even coaching services.
• Low franchise fees – most fitness franchises charge an average of 6-7% royalty fee

(2) Grooming/Beauty Services

Beauty/grooming franchises are all the rage right now. And if the boom of grooming/beauty businesses is any indication, pampering oneself is now trendy across the globe, but particularly in the United States. Lash, brow, and nail care services are especially hot and popular. What’s more interesting is that more men are now joining the bandwagon.
If you think 2019 is the year you finally own a franchise and become your own boss, here are 3 beauty & grooming service franchises to check out:

• Cookie Cutters Haircuts for Kids – you’ll need between $135K and $238K to get one unit off the ground.
• Merle Norman Cosmetics – we love that their startup costs are relatively low, starting from $30.7K
• Nikita Hair – With startup costs of $162.3K – $268K depending on your location, Nikita has proven to be quite profitable and resilient to changes in the economic climate

(3) Fast Food Franchises

Technically referred to as QSR (quick serve restaurant), fast food franchise sector is never short of growth opportunities. In fact, it’s the hallmark of the whole franchise model. Fast food franchises like McDonald’s and Subway that have been lighting the way for decades will continue bringing in large turnovers and profits for franchisees in 2019. As a rule of thumb, it’s important to buy into a franchise that serves high-quality, classic foods in the short time possible. That’s quick-serve 101.

If you’re looking for high ROIs, however, you might want to look past obvious franchises like Subway, Burger King or McDonald’s. Asian fast food franchises are now the “it” thing, with restaurants like Teriyaki Madness blazing the way.

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Should consider the following questions while considering House Cleaning or Residential Franchise business.

• What are the top Residential Cleaning Franchises?
• What are the typical startup costs for Residential Cleaning Franchises?
• How much can I make by operating a house cleaning franchise?
• What are the major challenges in operating the house cleaning franchise?

Source: IBIS industry report