One franchise sector that’s really taken off over the past few years is the green franchise industry. When you factor in the cost of investment and the risks involved with starting your own business, green franchises emerge as such as an exciting venture because they are clearly positioned to do well in the future.
Green franchises take the innovation of the green sector and match it with the tried-and-true business model of the franchising industry. The relative success of this business marriage has been chronicled in a recent story by Gwen Moran in Entrepreneur. The piece profiles California couple Mike and Deborah Parisi. The Parisi’s were ready to buy their own business, but they wanted to be sure that they were proud of their product and that their franchise helped the community. They settled on a green pizza franchise, Pizza Fusion, and have done so well, they’re considering opening up a second unit. Best of all, they're delighted with what their success is built upon.
Everyone agrees that green franchises are rising. As Alisa Harrison from the IFA says, “We’re seeing it across the board, from existing franchises that are becoming greener to those who are building their whole concept around being environmentally conscious. The green trend has been growing for about 25 years now, but it has only recently become mainstream.”
The Entrepreneur story rightly points out that potential green franchisees should be wary of franchises that change their colors over night – that is, those that fabricate their green credentials.
Moran concludes: “The key to success in green franchises is to look for verifiable data that a market exists, either through a track record of sector sales or--especially for newer businesses--substantial market research that indicates both a strong customer base and strong demand. Franchisees who protect themselves through such due diligence could very well find themselves with businesses that provide both monetary and socially responsible rewards.”
Take this advice on board and you should find the green franchise for you.