Many people across the US are looking for viable alternatives to a diet reliant on industrial farming and animal-based products.
While the number of vegetarians and vegans in the US is currently in the minority, there are plenty of signs to indicate that the tide is turning. The movement away from animal cuisine is definitely increasing in popularity.
For Millennials and the generations that follow, a plant-based diet has become an attractive, fashionable, and health-conscious lifestyle choice. Just look at the proliferation of vegetarian hashtags on Instagram, and you'll recognize an industry set to boom.
Franchising
Franchising offers entry into profitable businesses with proven financial histories.
Franchising allows you to adopt established, well-known brands while providing plenty of scope for expansion, business development, and access to an existing client base.
Although the US has experienced some significant financial crises over the past decade, franchise businesses have prospered where independent companies have struggled. The combination of familiar branding and popular services make franchising a viable way to go into business on your own terms.
Reduce the risks faced by independent start-ups by adopting recognizable brands with established reputations.
Banks Lend To Franchises
Banks and lenders tend to consider franchise businesses a lower financial risk than independent start-ups. This is mostly down to the fact that franchises come with proven business models with a history of turning over a profit; offering lenders a good return on their investment.
Independent businesses, on the other hand, are finding it more and more difficult to convince traditional funding bodies to lend them the start-up collateral they need to get off the ground.
The lower financial risks associated with franchising means that you can raise the capital you need to begin your franchising journey.
The dream of working for yourself has never been more accessible.
The US Franchise Market
There are nearly 750K franchise businesses in the United States, around 30% of which are food- and service-related organizations.
The franchise sector brings in over $713 billion each year, supporting the US economy while proving that franchising is both lucrative and a realistic aspiration for all hopeful franchisees.
Over 7.88 million workers in the US make their living as a result of franchises, identifying the sector as one of America’s most stable environments for financial prosperity; supporting families all over the US.
The franchise model has been proven time and time again, a safer way to start up a business for yourself.
Other stats:
- The most recognizable food franchise in the US is McDonald's, which makes over $91 billion each year in sales.
- According to the 2012 national census, limited-service restaurants controlled nearly 40% of the franchise market. Full-service restaurants were the third-largest in the franchise sector.
How Many Vegetarians and Vegans are there in the US?
Vegetarianism and veganism are growing in the US. In 1971, just 1% of the population identified as vegetarians. That tripled over the following thirty years, with 3.2% of vegetarians and 0.5% of vegans recognized in 2008.
In 2020, 5% of Americans identify as vegetarian.
The UK-based Veganuary campaign is becoming increasingly popular among the younger generations, and this is slowly spreading to the US. Since it began in 2014, the number of people officially signing up to take part in a plant-based January has doubled each year, with 250K signups from 193 countries in 2019.
While Veganism is very much in its infancy, plant-based food services are finding definite traction in the foodservice industry.
Franchise vs. Independent
Starting any new business poses a variety of financial risks. Franchises are widely recognized to be more stable, while 50% of independent companies go bust within the first two years.
Franchises are built on sound financial foundations, offering existing business models with a legacy of successful expansion.
Ready?
Explore our vegetarian and vegan franchise opportunities. Become your own boss today, with the support of a franchise system.
You can also check out many more Food Franchises here on Franchise Direct, such as: