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As technology and economic shifts drive change, a franchise of the future is one that can adapt, innovate, and consistently outperform the competition. Explore the franchise sectors that are charting a course for a successful future. Franchising has always been a resilient business model, and the future of franchising remains bright. The U.S. franchise industry is forecast to grow 4.2% to $860.1 billion in 2023, according to the International Franchise Association. It offers entrepreneurs the stability and support of an established brand while allowing for individual ownership and growth. The pandemic accelerated certain trends, like the growing preference for takeout and delivery services, making franchising even more relevant. In response to busy schedules, home services franchises started cropping up to handle household tasks typically taken care of by weekend warriors, such as gutter cleaning or window washing. In response to consumer demand, personalized fitness franchises are setting the stage for health and wellness.
If you're considering a franchise of the future, look for brands that are expanding and growing. Expansion is often a sign of a successful and adaptable franchise system. Here are our picks for the top five franchises on the rise:
1. Renewable energy solutions: At least 67% of American consumers think the U.S. should prioritize alternative energy sources, according to the Pew Research Center. With the global shift towards sustainable energy, franchises that offer solar panel installations, wind energy solutions, or electric vehicle charging stations could become highly sought after.
2. Health and wellness: With an increasing focus on health and wellness, franchises that offer fitness centers, wellness coaching, and healthy food options are in high demand. Consumers are becoming more conscious of their well-being, creating a promising future for franchises that support healthy living. The personal services category, which includes health and fitness centers, is expected to jump 6.7% to $42.1 billion this year.
3. Senior care services: The number of people over the age of 65 is set to double by 2060, hitting 95 million, according to the Population Reference Bureau. With an aging population, franchises that cater to senior care and services are on the rise. From in-home care to senior living facilities, this sector offers substantial opportunities for entrepreneurs who want to make a difference in the lives of seniors and their families.
4. Cybersecurity services: The increasing threat of cyber attacks is creating a demand for franchises that provide cybersecurity solutions for businesses and individuals.
5. Technology-driven concepts: Franchises that embrace technology, especially brands offering digital and app-based services, are thriving. The convenience of ordering via a mobile app streamlines the customer experience. Franchises with advanced technological solutions are well-positioned for the future.
Fast food franchises are poised for continued success. Quick-service restaurants offer a winning combination of quality food and speed of service, catering to busy consumers looking for convenient dining options. What sets Starbird apart is its tech-forward approach and commitment to using fresh, high-quality ingredients. What makes Starbird future-proof? Let's explore why our culinary innovation and advanced technology are propelling our fried chicken franchise into the future. Our menu goes beyond traditional fast food offerings. With crispy tenders, hand-chopped salads, sandwiches on house-baked rolls, and a commitment to using fresh ingredients, Starbird elevates the quick-service dining experience. This culinary innovation caters to the evolving tastes of consumers who seek quality and flavor in their meals. In the digital age, technology plays a pivotal role in the success of any business. We’ve integrated advanced technology into our operations. Our Starbird mobile app offers customers a seamless ordering experience, and in-store kiosks further enhance convenience. With approximately 80% of orders made digitally, we’re at the forefront of tech-driven franchising.
The future belongs to entrepreneurs who embrace change and innovation. Whether you're passionate about culinary excellence, cutting-edge technology, or providing exceptional service, Starbird offers a recipe for success for years to come.
Get started to learn more about partnering with Starbird to launch a franchise positioned for the future.
*The sales and investment data that we provide in this letter is taken from our May 23, 2023 franchise disclosure document. The data is an average of our four company-owned restaurants open for all of 2022. Please refer to Item 7 and Item 19 of our FDD for additional details including costs that you will likely incur. These data are not meant to suggest your actual or potential sales and profit levels. Actual results vary and there is no assurance that you will meet or exceed the metrics noted in this letter or related documents. This brochure is not an offer to sell, nor is it the solicitation of an offer to buy, a franchise. Please refer to our FDD for details on our franchise offering.