But all is not lost (pun intended). Keep in mind that losing weight is still a priority for healthier living - it’s just recognized now as being part of a bigger picture. That ⅔ of Americans are still overweight, weight loss franchises still have proven business models and there is still a major portion of the population that remains an untouched opportunity (more on that below).
If you answered “neither,” you’re in the minority. Most people either want to get a taste of that chocolate goodness, or just finished having one. Particularly in the western world and increasingly in the eastern, it is a hugely popular ingredient or main event for desserts and even meals.
Gyms used to be big box stores - lots of equipment for cardio and weight training, with personal training available, racquetball maybe, and a pool. And those are still around - but this is an industry that has seen variety become the spice of life. Traditional exercises are being transformed into specialties and new programs are being developed at a breakneck pace.
Thanks to the baby boomer generation born in the late 1940s and 1950s, the number of American senior citizens is growing. As the boomer population reaches age 65, the senior population is projected to reach 83.7 million – almost double the estimated number in 2012 and approximately twenty percent of the total US population. Roughly 10,000 people will turn 65 every day for the next 20 years! This increasing elderly population has and will necessitate more senior healthcare. In fact, one market research provider estimates that the global home health care sector, just one part of the overall industry, should see revenues grow to $300Bn in 2020 from $180Bn in 2014 - a compound annual growth rate of 8%.
As of the 2012 US Census, 2.5 million businesses were veteran-owned, out of 27.6 million US businesses in total. The 21.8 million veterans in the United States make up approximately 9% of all business owners!
Franchising outside of the United States presents a different set of opportunities and challenges from franchising domestically, including different franchise structures and distinct cultural and legal frameworks. Careful research and consideration must be taken before considering opening a business in an unfamiliar country.
When it comes to restaurants, fast casual has been the growth darling of the industry for almost 20 years. While it still accounts for less than 10% of the total market, the number and diversity of fast casual restaurants has been exploding across the country, with an astounding growth of over 500% since 1999!
Tax preparation is BIG business – there were 300k people employed at 109k firms in 2012 - generating $9 billion in revenue in 2012. The industry grew over 2% from 2010-2015, and is expected to speed up the pace of growth. Revenues of $11 billion are forecast for 2018. Tax preparation is unusual in that it provides a service to assist with a process that legally every American is required to do: submit an income tax return. Because it is required, tax preparation tends to be recession resistant.
Going green is becoming increasingly attractive as a business strategy. As scientists and politicians debate the truth of global warming and dwindling natural resources, green industry practices not only enjoy favorable public sentiment and the psychic income of a lower carbon footprint, but increased cost savings, supportive government policies, and ever-increasing profitability as well. Trends in consumption, government policy, and costs all point towards even more green industry business opportunities in the years ahead.