The companies that ranked in Entrepreneur’s 35th annual Franchise 500 added a total of 8,725 U.S. franchise units between 2012 and 2013 – a 51% increase over the previous year’s growth. And that growth is not just contained to the U.S. They are expanding their influence overseas as well, adding 8,332 new international units.
The franchise industries that are driving growth are:
Children: Child-centered franchises have seen wild success over the past several years. And thanks to franchising, parents have lots of options, from early-learning childcare to traditional tutoring.
Food: Food franchises make up half of the Top 10 Franchise 500 list, and more than a quarter of all ranked companies. This category consists of mainstays such as sandwiches, burgers and pizza – but other smaller franchises are making their mark. New vending concepts such as HUMAN Healthy Vending, Fresh Healthy Vending and IceBorn made the rankings this year and maybe other vending franchises will follow in their footsteps.
Fitness: Fitness franchises took 20 spots on 2013’s rankings, up from just 13 in 2012 – and almost half have only been franchising for less than five years.
Seniors: With 21 companies making the ranking this year, and even more waiting to take their places, senior care has become one of the biggest categories in the Franchise 500 – with growth showing no signs of stopping.
Personal Electronics: While the popularity of tech franchises has dwindled in recent years, the rise of the smartphone and tablet has given life to a new breed of businesses in this category. Franchises offering sales, repairs and accessories for personal electronics are growing fast and climbing in the rankings.
Want to accelerate your franchise growth in 2014? Contact Us. Or if you are attending the upcoming 2014 International Franchise Association Annual Convention at the New Orleans Convention Center, talk with one of our franchise experts about how using analytics can optimize your franchise growth.