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There are thousands of franchise ideas on the market today, covering hundreds of industries and businesses. For every aspiring entrepreneur, it is a sure bet that there is a business model for every owner – and finding the perfect match is the goal of the investigation process. Each year, approximately 300 or more brands officially enter the franchising arena, hoping to use this strategy to expand their reach. We often refer to this new entity as an “emerging” brand that has been in business for less than five years. Nevertheless, a small percentage of these startup franchises have managed to earn a place on our prestigious franchise 500 list.
Related: 4 helpful tips for emerging franchise brands
Entrepreneur recently released a new list, a subset of the top new and emerging brands that are ranked 150th among the most popular new franchise opportunities. Like all brands we have achieved these emerging ideas on a 150-data point scale for the opportunity to appear on the franchise 500 list. What does the entrepreneur consider when scoring these upstarts? Unit growth, costs, fees, training programs, support strategies, and of course – the overall health of their financial performance.
Related: How Small Brands and Entrepreneurs Can Navigate the New Era of Digital Retail
We were fascinated by the type of entry we received and thanks to our further curiosity, we decided to run personal profile features among the best in our list of best new and emerging franchises. In the next few days, we’ll be launching a new series that shows who these unique brands are, how they work, and what they want to gain by franchising their ideas. As you review the featured brands in previous series, keep in mind that every opportunity in this emerging franchise has given us reason to take a break and take notice.
Perhaps you should do the same.
Related: 2022 Top New and Emerging Franchise Rankings