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Saturday, October 6, 2007

Hot Franchising Opportunities for 2007

Entrepreneur magazine published a short franchising opportunity article listing the hottest trends for 2007. The top seven categories are:

  1. Senior Care Services - The aging population in the United States makes this category an obvious target for up and coming businesses.
  2. Personal Care Services - The aging baby boomers want to look young and there are numerous franchises that are ready to cater to their wishes.
  3. Enrichment Learning Programs for Kids - The tutoring, assessment, test preparation and supplemental content suppliers markets are growing at 6% annually. Americans obviously take their children's learning very seriously.
  4. eBay Drop-off Stores - Online auction business (led by eBay) is still growing at a rapid pace. I don't find it difficult to sell on eBay, but it seems that many people are ready and willing to pay good money to have other people sell their stuff!
  5. Food - Given the obesity problem in the United States, it shouldn't surprise anyone that food franchises are still growing rapidly. Fortunately, franchises that serve healthy alternatives are growing at a rapid clip.
  6. New and Unique Concepts - Wacky (or unusual) ideas often get a lot of press coverage which helps a small business take off. Franchises like Cereality (hot and cold cereals) and the Miami Rice Pudding Company are expanding fairly rapidly.
  7. Business Consulting/Staffing - Businesses need employees and expertise at certain times which drives this market niche. The Bureau of Labor Statistics predicts that staffing services will grow rapidly over the next ten years.

So if you are looking for a franchise opportunity, you may want to investigate these areas first and see if there is an opportunity that is a match for your skill set and expertise.

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