If you are looking to start a business in the United States, there are many opportunities for entrepreneurs to start a franchise. However, some franchises are more popular and well-known than others. Here are six underrated franchise opportunities that are profitable and yet often overlooked.
6 Underrated Franchise Opportunities in the US
Pet Related Franchise
Starting a pet-related franchise can be a great way to tap into a growing industry. According to the American Pet Products Association, 68% of households in the United States own a pet, equating to about 84 million homes. This shows that there is a huge potential customer base for pet-related businesses. The pet industry is expected to reach $99 billion by 2025, so there is plenty of room for growth. Plus, people love their pets and are willing to spend money on them.
Home Improvement Franchise
Another option is a home improvement franchise. The home improvement industry is booming, and it is projected to reach $300 billion by 2025. This presents a great opportunity for those who are interested in this field. This type of business is always in demand because something needs to be fixed or updated in someone’s home. Home improvement franchises have low start-up costs and can be profitable quickly.
Food Truck Franchise
A food truck franchise is a great option for those who love to cook. Food trucks are becoming increasingly popular, offering a unique dining experience. Plus, they are operational from almost any location. According to Forbes, the food truck industry will reach $30 billion by 2024.
Senior Care Franchise
Senior care franchises are a rapidly growing industry, as the baby boomer generation is starting to retire. According to the National Institute on Aging, there are currently over 46 million Americans over 65. Senior care franchises provide non-medical services to seniors, such as transportation, housekeeping, and companionship.
Another green option is a recycling franchise. Recycling is a growing industry, as more people are becoming aware of reducing waste and protecting the environment. According to the EPA, Americans generated about 262 million tons of waste in 2015, and recycling and composting prevented about 167 million tons of that waste from going into landfills. Recycling franchises have low start-up costs and can be profitable quickly.
Finally, a childcare franchise is a great option for those who love working with children. Childcare franchises provide quality care for children while their parents are at work or school. Plus, they offer flexible hours and can be operated from almost any location. It is estimated that by 2025, there will be a need for over 300,000 new child care spaces to keep up with population growth and increased demand from working parents.
Conclusion: Underrated Franchises
These are just a few of the many franchise opportunities available in the United States. If you’re looking for a business opportunity that is both profitable and rewarding, consider one of these underrated options. You might be surprised at how successful you can be.
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