Easing back into life, there are still lingering effects of the pandemic which are evident. That is precisely why investing in a franchise may be just the opportunity for you. For many, the pandemic taught some very important lessons about the benefits of business ownership. You want job security. You want to be in control of your financial stability, especially after seeing unemployment numbers. Lenders are providing great rates, so now may be just the right time. And, most importantly, you may want to start doing something that you really love.
First, franchising is beneficial because it provides growth for established businesses while simultaneously creating business ownership opportunities with proven models of success. Comparatively, starting from scratch with a new business venture is riskier. As a potential franchise owner, you want to be sure to choose a franchise that is doing well and shows great promise. So, let’s help you in your search by examining the hottest markets and the fastest growing franchises right now, and why they are doing so well.
What They Are Doing Well
According to Entrepreneur magazine, the businesses on this year’s fastest growing franchises list are not only markets that survived the pandemic but thrived in a volatile environment. They were able to adapt to the lifestyle changes during the pandemic and are expected to continue prospering as we return to some semblance of normal.
It’s no surprise we find the health industry on the list of hottest markets for franchises, considering safety and well-being was a high priority, worldwide, during the pandemic. Additionally, with many of us relying heavily on streaming and virtual school and work, technology was another industry on the popular list.
Finally, because more folks than ever were staying home, they were loving on their pets and spending more time outdoors. It’s quite understandable that the pet and animal category, which typically trends high, had another banner year as there is a comfort in animals and nature. Lockdowns forced people to stay and work in their homes. That meant more time spent in their yards, which created an increased demand from new and existing outdoor enthusiasts.
How Wild Birds Unlimited Continued Our Growth
Capitalizing on that increased demand and supporting franchisees was key to not only sustaining previous success but elevating our status to become one of the fastest growing franchises in the past year. In fact, WBU stores saw a 22 percent same-store sales increase in 2020 despite the challenges of the pandemic, and applications in the first quarter of 2021 surged by roughly 80 percent compared to the year before.
Wild Birds Unlimited understands the love people have for animals and nature which created growth in backyard enjoyment. People were looking for things to do as a family and bird feeding became one of those hobbies. We were able to pivot and consistently provide bird-feeding and nature products, meaning our customers were able to count on us to have ample supplies to meet the demand and serve them in a safe, efficient manner.
How Do You Know “Fastest Growing” Will Equate to Long-Term Results?
When searching for information about franchise success, many entrepreneurs comb through various lists and publications.
It is best if the list is based on information found on the FDD, or the Franchise Disclosure Document. This document provides potential franchisees with information about the franchisor, the franchise system and the agreements they will need to sign so that they can make an informed decision. It includes 23 items ranging from fees to hiring, training, equipment, trademarks and everything in-between.
It also provides a clear picture of the revenue and support you can expect, allowing you to decide whether the business model and investment are right for your long-term goals.
Franchising with WBU
Being attentive to customer needs, coupled with our successful and nimble business model, has made Wild Birds Unlimited an award-winning franchise for many years. We rank high this year as one of the best franchise opportunities based on owner satisfaction.
We are especially proud to be recognized for our achievements during an unprecedented time, but even more so to see the success of our franchisees and validation in our business model.
Ready to become a part of the original and largest franchise system of backyard bird feeding and nature specialty stores? You will be in good company, as we have more than 350 locations throughout the United States and Canada and are looking for passionate, dedicated owners to continue sharing the joy of backyard bird feeding with a growing customer base.
If you are interested in joining the flock and being a part of this award-winning franchise, fill out our form to get started.