5 Franchise Segments on Fire

The only constant in the world of franchising is change, and the modern business world is no exception. From senior care to the brand-new world of U.S. marijuana franchising, the following are five segments that are heating up and only look to get hotter:

Senior care
One in 7 Americans qualifies as a senior citizen. Sound too high? Just wait. One in 5 Americans will be 65 or older by 2029, according to the U.S. Census Bureau.

With longer lives comes a growing population of elderly Americans, as well as greater demand for senior care. It’s for this reason that businesses like Right at Home, a leading in-home elder care franchise, are thriving.

You can’t fight Father Time, and as long as current aging trends stay on course, this segment will have a bright future.

Customized food experiences
If you were to boil down what modern consumers want into one word, it would be “choice.” That explains why franchises such as YourPie, Menchie’s and MOOYAH are grabbing customer attention.

What do a pizza franchise, frozen yogurt chain and burger business have in common? They all offer consumers customized dishes.

These franchises aren’t just impressing hungry consumers with tasty treats, they’re also tapping into the thirst today’s shoppers have for variety. People want options, and these businesses are tickling the psychological pleasure centers consumers have for choice.

Fast-growing food brands
While some franchises are excelling through choice, others are focusing on reach.

Which Wich, Checkers, Beef ‘O’ Brady’s – these brands and others are giving the old guard a run for their money when it comes to omnipresence. With each boasting 100 locations and counting, these are the names to watch in the world of franchising.

The chain of male-centric haircut salons offers consumers a service they require regardless of how the overall economy is performing. While many people may have cut down on eating out in years past, most weren’t rushing to replace their trips to the barber with a home haircut.

And with more people finding extra cash in their wallets these days, franchises like Sport Clips will likely only see more growth.

Unchartered territory
Some franchises are going out on a limb in new business areas, and these trailblazers could see their willingness to try something different pay off big.

The “blaze” in trailblazers is especially appropriate for Palm Beach Vapors, the Tulsa, Oklahoma-based electronic cigarette franchise. The brand is betting on a bright future for marijuana sales with more states looking to follow the examples set by Washington and Colorado when it comes to legalization.

Even in states where recreational marijuana use remains a no-no, medical marijuana may be available.

By getting in on the ground floor with a cannabis oil product that can be incorporated into common e-cigs, Palm Beach Vapors has a business opportunity that isn’t likely to go up in smoke any time soon.