We love our seafood in the United States. From shrimp and catfish to tilapia and salmon, American plates are incomplete without fantastic fish or a selection of tantalizing crustacea from the sea.
The global seafood market was worth a staggering $159.31 billion back in 2019 and is expected to reach approximately $194bn by 2027.
Indeed, Americans are now eating more seafood than ever before, with shrimp as the ultimate favorite. In fact, a rather substantial 4.6 pounds of shrimp are consumed on average by Americans every year.
70% of the seafood purchased in the US is consumed in restaurants, creating a super-healthy trading environment for caterers specializing in foods from the sea.
Seafood is considered a healthier protein than red meat, offering lower fat and cholesterol. Seafood is a brilliant source of omega-3 fatty acids, associated with a lower risk of cardiovascular diseases.
Whether it's supplying seafood to supermarkets and restaurants or preparing specialties in your own branded franchise chain, seafood franchises can help transform your working life for daily job satisfaction.
Franchising
The food industry is enormous in the USA. And that's a great thing for anyone considering seafood as a means of meaningful income. But big isn't always better when you're trying to start up a business in a saturated marketplace.
Americans love their food. And we know what we like and trust - and we're often a little hesitant to try something new or unknown when there are so many brands we already love. This is what makes franchising a safer way into the seafood industry.
Brand awareness is everything in modern marketing, and the most prominent brands have the financial clout to get noticed above the noise of the competition. So, going it alone with an independent seafood brand is a particularly challenging and risky way of going into business.
When you invest in a seafood franchise, you gain a raft of priceless benefits that help put you ahead of the race in competition with little independent companies. Your seafood franchise will offer you:
- Instantly recognizable branding, offering immediate curb appeal
- An existing client base who knows and loves your product line
- Access to an existing supply chain, providing the best deals because you’re buying as part of a collective
- A market-tested product line and brand identity.
When you go into business independently, you have to start from the ground up. That means you don’t know yet which of your products most resonate with your client base. It also means that you might struggle to pitch your wares in the right way to the right people.
But when you invest in a seafood franchise, you buy into an operational ecosystem. You inherit the branding that your customers already know, and you offer products they already love. In short, you gain a ready-made reputation for excellence and customer satisfaction.
For this reason, most parent companies offer comprehensive training to ensure that you're able to maintain their hard-earned reputation. This makes franchising perfect for somebody who hasn't run a business before.
On top of training, most parent companies offer a range of HR functions to help ensure you run your business in line with financial-, employee-, and trading regulations. That's the type of thing that keeps most business owners awake at night, so having experts who can help with this aspect of company ownership is literally priceless.
Facts About Seafood Franchises
Seafood is one of the most versatile proteins but has a relatively short shelf-life - you definitely do not want to eat out-of-date fish! For this reason, canned fish and seafood is a massively popular way to preserve this valuable food resource.
Fish and seafood are high in Vitamin D (for the immune system) and selenium (for a healthy reproductive system) while offering high-quality protein on the plate.
Fish and poultry are considered the best animal proteins for a healthy diet. So, if you're thinking about a change of career direction, seafood franchises offer an excellent opportunity to benefit from the ocean's riches.
The US's average consumption of canned fish products is around 3.9 pounds per person per year - a 0.2% increase from 2018. Indeed, canned fish is often more affordable than fresh seafood, making it a food of choice when the economy experiences a slump.
The commercial fishing and seafood industries support the livelihoods of over 1.2 million Americans, with a staggering 39,000 commercial fishermen bringing in the catch of the day.
The Food Marketing Institute discovered that 56% of the American population eat seafood at least twice a month, while 20% eat it twice a week or more.
American seafood is harvested from oceans and freshwater lakes and rivers, as well as farmed in ponds and recirculating tanks.
Franchising Vs. Independent
Catering and seafood franchises tend to demand relatively high initial investments in the US, starting at around $100k, upward of $300k. And while those figures sound high, consider the raft of benefits that come with buying into an existing and fully operational business.
Of course, most of us don't have a couple hundred thousand dollars tucked into our back pockets. This means that most of us need to seek funding to help us get our seafood franchise venture off the ground.
Regardless of whether you're buying into a seafood franchise or considering entering the marketplace independently, there will always be startup costs. It's just that being associated with a franchise is a pretty beneficial situation.
Most banks and moneylenders favor franchises because the business model has been tried and tested and proven sustainable, profitable, and capable of growth. Seafood franchises are considered lower-risk propositions than completely independent companies that have no track record of market penetration.
For this reason, many indies struggle to achieve their startup collateral, and when they do, they often experience higher interest rates than franchises.
Almost half of all independent companies go into receivership within the first five years of trading after failing to recoup their initial startup costs.
On the other hand, seafood franchises often hit the ground running because you're opening a business with an existing client base and a product line that's already been proven successful.
Seafood Franchises
Check out Franchise Direct's excellent choice of seafood franchise opportunities, and help Americans maintain a healthy diet and their love for the bounty of the sea!
You can also check out many more Food Franchises here on Franchise Direct, such as: