The Strong Outlook for Franchises in 2015

For the last four years, the rate at which franchises have grown and created new jobs has been faster than the rest of the economy. Based on recently published research, that trend will continue in 2015. Since growing faster than the rest of the economy for five straight years is no small feat, a lot of people want to know what the secret sauce of franchising is that has allowed it to continue performing so well.

Understanding the Basics of Franchising

During the course of 2015, franchising is slated to contribute around 3% to the total GDP of the United States. That marks a projected increase of 5.1% for the franchise sector’s contribution to GDP. Given that franchising includes owners that range from local operators to veterans, it’s easy to understand why franchising is something that’s frequently (and rightfully) touted as an American success story.

Not only does this practice empower people from all walks of life to become business owners, but those owners are also creating new jobs at a very impressive rate. In December 2014 alone, the franchise industry was responsible for creating 38,000 new jobs in the US! Over the course of 2015, projections put the number of new jobs created by this industry at slightly less than 250,000. 65% of the employees working for franchises are in the food and hospitality industry, while 29% are employed by a franchise in the services sector (including commercial and residential services).

Potential Franchise Challenges in 2015

Although the 2015 outlook for franchises is very bright, this sector couldn’t be considered part of the business world if there weren’t at least a few potential challenges that need to be addressed. The first challenge is that franchises have been put on the fast track to increase minimum wage employees’ rate in certain states and cities.

Another challenge is dealing with changing definitions of full-time employees. Specifically, most franchises believe that full-time employment should be defined as 40 hours a week instead of its current definition of 30 hours under the Affordable Care Act.

While these challenges may require creative solutions, there’s nothing so major that it will stand in the way of the franchise sector having another banner year in 2015.

How to Get Involved in This Very Exciting Sector

If you want to be involved in an industry with proven and consistent growth, you should take a long look at what House Doctors has to offer to professionals who decide to become franchise owners. Once you’ve had a chance to learn a little more about House Doctors, please contact us if the franchise opportunity we offer seems like a perfect fit with your skills and goals.

Repair Franchise Outlook for 2015 and Beyond

If you've decided that 2015 is going to be the year when you take control of your profession and financial future by starting your own business, there are a lot of different industries to consider. When it comes to choosing an appealing industry, there are a few different factors to think about. Not only do you want an industry where you will enjoy interacting with customers and other professionals, but you also want one that's going to continue to grow.

Based on the current repair franchise outlook for 2015 and beyond, making the decision to start a home repair and remodeling business will meet both of those criteria. Because homeowners want to make smart investments in their houses, they're very appreciative of home professionals that do a great job and can build long-term relationships with. The other factor that makes this industry so appealing for a new business is the increasing demand for several key services.

5 Areas Where Repair Franchise Service Demand is Growing

Now that the housing and other financial markets have made a strong recovery from 2008, the demand for multiple home repair and improvement services is growing faster than ever. The first of those services is aging in place. Although it's a little mind boggling to think about, ten thousand people are turning 65 every day. Because baby boomers are expected to have a long lifespan, a huge number of them are looking for ways to stay comfortable and safe in their own homes. Aging in place upgrades provide exactly what seniors need to remain independent.

Fixing to stay is the second area seeing major growth. Since moving can be a major hassle and expense, more people are opting to upgrade their existing home so they can continue to enjoy living in it. The third area of growth surrounds busy families. Given the fact that families of all ages have more responsibilities than ever, many are very willing to save time by paying for professional help.

Green energy is the fourth area that's driving the great outlook for repair franchises. Not only do homeowners want to do their part to help the environment, but they realize that going green is a great way to cut monthly costs. Last but certainly not least are general home improvements. Whether it's for personal enjoyment or to add value before selling, a large percentage of homeowners want to make smart investments in their houses.

How to Benefit from This Positive Repair Franchise Outlook

If you're excited by the strong repair franchise outlook for 2015 and beyond, the best way to personally benefit is by starting your own business. Call House Doctors today at 1-888-598-5297 to learn more about how we can help you become a successful franchise owner.