Franchise

Which Franchise Markets Are Most Profitable?

Given the current economy, when looking into buying a franchise, which franchise industries are the hottest for buying into right now? Which markets would you avoid? Why? What other advice can you share for choosing the right franchise to buy?
min read
Opinions expressed by Entrepreneur contributors are their own.
The most profitable markets or industries in franchising are the ones least affected by the lousy economy that has marked the past few years.

In terms of industries, you want to steer toward those that deliver products or services that are considered necessary rather than optional. As times remain tough, many people avoid optional spending to preserve their resources and maintain more financial "safety."

Services that are usually considered necessities include things like haircuts, senior or child care, and restoration services. Products that usually remain in strong demand include fast food and pet products.

In terms of markets, most people are stuck building their business right where they are currently located -- especially if they would have to sell their house in order to move. If you have the flexibility of moving anywhere then I'd suggest you go to someplace where the housing market is strongest because that's where you'll find more confident consumers.

Related: How to Find Hot Franchises in a Cold Market
Related: Five Questions to Ask Franchisees Before You Become One

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

5 Steps You Need to Take Before You Buy a Franchise