What is more exciting than big hopes for franchising in the year ahead? Success can beget success and trends this year indicate likely shifts for tomorrow as we look forward to what’s ahead.
Order Anything Where You Need It Convenience
Customers are ever more looking for convenient ways to order and connect with favored brands. Franchise concepts continue to see loyal customers take advantage of convenience, in the various ways that it is offered. Whether it’s take and bake meals, delivery options, catering where customers need it, the list of convenient ways to serve is getting longer. Online, mobile device, telephone and vending ordering solutions make convenience king. Digital ordering solutions continue to grow alongside franchise systems that implement convenience-focused ordering solutions.
Healthcare Franchising to Serve the Nation
Healthcare franchises increasingly take up care for individuals facing a variety of challenges, whether it be needs related to illness, childrearing or aging. As aging populations expand, care provided to seniors will increase and the need has been expanding in recent years and will continue to expand with time. More working mothers and families living independently increase the variety of at-home care situations. The need for assisted living support from home and medical care provided by professionals continues to grow.
Expansion of Global Franchises in the US
The constant demand for more diversity within the US and more adventurous customers means the market for different concepts in 2014 and beyond is wide open. This is particularly true of food franchises coming into the US with fresh and interesting food concepts from various countries. A nation made up of individuals and families both native and non-native to North America, the US features food from around the world as the most diverse proof of a rich multicultural heritage. Palates and meals from various countries stand to expand as franchising offers a particularly inviting way to do business in new territories.
In 2013 the importance of the franchise industry’s weight was made clear with substantially higher rates of new jobs and establishments introduced when compared to the overall growth of the US economy. Meanwhile the impact of healthcare costs, credit access hurdles, and concerns about minimum wage strikes will continue on the minds of franchisors and franchisees. The resiliency and creativity of franchising continues to shine even through the continuing value conscious mindset of consumers as industry leaders look for ways to innovate.