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Full Speed Ahead On The Franchise Bandwagon by Seth Jermyn http://www.franchiseour.com At one time during the mid to late 1990s, the franchise industry hit a stalemate - Entrepreneurs were hesitant to jump in and risk undertaking a business unit during an unstable economy while the parent companies weren't giving up. The parent companies worked hard to keep operating franchise units going and continued to brainstorm ways to make franchising more appealing and their business fit the current market. A win-win setting was created. Now, many franchises are flourishing stronger than ever. For the brave entrepreneurs who had the strength to run with the fast pack in the past couple years, they found great opportunities with incredible potential. Today's franchise market is just as appealing and offers worthwhile opportunities for those ready to get a step ahead. The honors for the top fast-growing franchises in the past several years go mostly to fast food, fitness or investment. According to Entrepreneur, these categories are only going to increase in popularity. In Entrepreneur's Franchise 500 list for 2005, for instance, Subway topped the list for the thirteenth year in a row. Plus, for the second year in a row, Curves has earned second place. What makes these areas so successful? The trend in America to embrace a healthier way of living and eating is a big reason certain franchises are doing better than others. Hence, many Americans want to eat at fast foods that offer healthy food, such as Subway and Quiznos. Even Dunkin' Donuts and Sonic Drive-In - other top franchises on Entrepreneur's list - jumped on the bandwagon to improve their menu to a more healthy way of eating. Also, Americans are looking for ways to spend and invest their income in a smarter way. Thus, investment companies like RE/MAX and Jackson Hewitt Tax Service are among the top fastest-growing franchises. Another push in America is from health insurance companies and employers to get people to manage their medical bills better. Hence, lots of health and fitness centers are immensely popular. In fact, more people now belong to a health club than never before in history. Curves and Jenny Craig, in particular, are benefiting from this and leading the fitness and weight loss industry. Entrepreneur notes that this category has increased from 8 to 17 listing on its Fortune500 list. Americans aren't the only population influencing growth among franchises. Many top franchises are better known overseas than in their American homeland. For instance, Jani King - the number one commercial cleaning franchise company on Entrepreneur's 2005 list and on the top 10 list overall - has 100 regional offices in 16 countries. Another commercial cleaner not far below Jani-King on the list is Coverall Cleaning Concepts, out of Fort Lauderdale, Florida. Both commercial cleaning services are training its franchise owners and workers in anti-terrorism. Are you ready to join the franchise industry during this growth period? Before deciding which franchise is right for you, research each one carefully or consult a franchise service such as FranChoice to find a franchise that matches your needs and desires. To learn more about franchising, visit Entrepreneur.com's Franchise Zone. |