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What’s so unique about today’s franchise sector is that with a bit of ingenuity, dedication, and insight, you can be part of a franchise industry where you have control over your economic and personal destiny, having the flexibility and freedom to pursue business opportunities that best fit your needs and expectations. Among the thousands of franchise opportunities available today, the most popular and fastest growing franchises fall within the following business sectors:
- Maintenance Franchises: residential & commercial cleaning, restoration
- Quick Service Restaurants: fast-food and casual dining
- Personal Care: gyms, fitness studios, senior care
- Children & Education: preschool care and supplemental education
- Retail Franchises: consumer good, products
With so many different franchise sectors and franchise opportunities available today, how do you choose which industry will best suit your growth, creativity, and daily needs? When searching through the various companies you can own a franchise with, it’s important that you find an industry that you enjoy and are passionate about. Also, think about what you’re good at, how much and what type of risk you can shoulder, how involved you plan on being, and what you are expecting from the franchise. For example, will this venture be just a hobby, full-time job, primary source of income, or are you building equity and planning to grow with the franchise? To help narrow down the numerous decisions surrounding which franchise opportunities best suit your lifestyle, let’s take a look at the two most popular and fastest growing franchise opportunities available today, restaurant franchises and restoration franchises.
The Benefits of the Disaster Restoration Franchise Industry
With global warming becoming more severe, resulting in longer and more intense storms and natural disasters worldwide, restoration professionals are needed now more than ever before throughout the U.S. to help minimize the negative effects and damages resulting from these disasters. No matter where in the country you’re located, you’re susceptible to frequent natural disasters including wildfires, hurricanes, severe storms, hurricanes, blizzards, tornadoes, freezing temperatures, and flooding.
For some perspective, last year was the most expensive year for natural disasters on record for the United States, totaling $306 billion. On average, homeowners report approximately $40 million in damages and commercial property owners declare $170 million per year. Of the numerous natural disasters Americans can face daily, the following are the most damaging:
- Hurricanes: Global warming has a direct impact on the frequency of hurricanes and the growing hurricane season. There are currently 4.2 million homes along the coasts at risk for experiencing hurricane damage and flooding caused by storm surge. Of the $306 billion in damages reported in 2017, $265 billion was from hurricanes alone.
- Wildfires: Throughout the country, 13 western states are prone to extensive and damaging wildfires, with 900,000 properties being at risk. In 2017, California alone reported $9 billion in damages related to wildfires.
- Flooding: Every day, 14,000 people report water damages and 37% of those declare significant losses. Flooding and water damage are a common occurrence throughout many areas of the country including the Midwest, Southeast, and Northeast. To best treat the effects of water damage, the property must be treated within 48 hours to prevent extensive structural damages and mold growth.
From the facts and figures above, it’s easy to see why the restoration industry is considered recession proof at a current value of $210 billion and growing. With so many natural disasters hitting every coast of the country, the need for empathetic and trained disaster restoration professionals is growing as well. Additionally, when you join a restoration franchise you can benefit from the following: unmatched franchise industry growth, an easy transition and supportive industry, franchise expansion opportunities, and personal pride from helping residents and business owners throughout your local community.
The Costs and Benefits of a Restaurant Franchise
Think about the last time you ate at a fast-food or casual dining establishment — was it today, this week, or within the past month? If you’ve eaten at a restaurant recently, then you can understand why so many entrepreneurs find restaurant franchises so appealing. Many available restaurants deliver fast, tasty food, convenience, and healthy dining options for families needing nutritious and easy dinners, professionals needing inexpensive, reliable dining options, and individuals who want to focus more on leisure than cooking.
Of the fast-food and casual dining restaurants you’ve eaten at recently, was one or more of them a McDonald’s, Dunkin’ Donuts, Taco Bell, Jimmy John’s, or Papa John’s? It’s very likely that you did enjoy a breakfast, lunch, or dinner in at least one of these restaurants because they’re actually the five fasting growing restaurant franchises this year, according to Entrepreneur. But what makes these restaurants so appealing for those seeking franchise opportunities? Well, when you join a restaurant franchise you can benefit from:
- Immediate Brand Recognition: By having one of these restaurant franchises as your brand, customers immediately understand what type of restaurant you are and instinctively know your product. For many customers, having an established brand with a certain quality level and consistency throughout each visit no matter which location they visit is important to their dining experience. They also appreciate having reliable operations no matter which location they’re visiting.
- In-depth Training Processes: Part of having widespread consistency between each restaurant franchise location is that each new franchisee undergoes extensive, in-depth training procedures including history, goals, food preparation, operational processes, accounting, customer service, and personnel structuring.
- Turnkey Ready Operations: Most restaurant franchises are turnkey, meaning they’re ready to go once the franchisee receives the keys. This is much simpler and less stressful than starting an individual business where you’ll need to scout and lease a location, begin construction, and redesign the interiors.
- Widespread Support System: Franchising companies want their franchisees to be successful and sustainable, so they give them all of the tools and guides they need including advertising, operations, brand standards, and more.
Obviously, due to their fast growth and popularity, restaurant franchise opportunities are appealing to many individuals looking for a potentially successful and exciting new career. However, it’s important to note that while having several benefits, there are also important drawbacks to consider with restaurant franchises that may affect how pleased you are with the overall business opportunity. Anyone who’s worked in the restaurant industry knows it’s grueling, and often unrewarding work. Additionally, when you buy a restaurant franchise you can expect limited independence, high upfront costs, limited franchise growth, non-negotiable renewals and termination, long hours, and high employee turnover.
How Restoration and Restaurant Franchises are Similar & Different
Even though the restoration franchise industry and restaurant franchise industry offer very different products and services, both franchise opportunities offer several similarities including the ability to be your own boss, continual industry growth and built-in demand, as well as proven track-records of success. However, even with their similarities, these two franchise industries are quite different so when deciding which franchise opportunity best suits your expectations you should consider these key differences:
- The restoration industry directly and positively impacts people throughout communities, rebuilding lives and offering peace of mind after a life-changing storm or event.
- By opening a restoration franchise you’ll be part of one of the fastest growing industries with unlimited growth opportunity. The restaurant franchising industry, while valued at $782 billion, has limited growth possibilities because of territorial growth limits. Just think, how many McDonald’s, Dunkin Donuts or Subways are in your town?
- When you control your own destiny with a restoration franchise opportunity, you’ll have an overall better quality of life. You’ll have more opportunity to control the structure of your business and can be innovative and creative. Those that are part of the restaurant industry have among the lowest measures of happiness due to limited innovation, long operating hours, high turnover, and few personal rewards.
Learn More about 911 Restoration Franchise Opportunities
With all of the lucrative restoration franchise opportunities available at 911 Restoration, you can experience personal growth and unmatched satisfaction, be part of a growing and innovative industry, and improve the quality of your local community. We happily serve communities throughout the United States and Canada and are always looking to expand to new markets. Call us today at (877) 412-5549 to speak to a franchise specialist who will discuss with you the best franchise opportunities near you or download our FREE starter kit to get started now!