Entrepreneur Features Emerging Brands New series profiles the best up-and-coming franchise concepts.
Opinions expressed by Entrepreneur contributors are their own.
There are thousands of franchise concepts on the market today, covering hundreds of industries and business sectors. For each aspiring entrepreneur, it's a sure bet that there's a business model out there for every owner – and finding the perfect match is the goal of the investigative process. Each year, an estimated 300 or so brands formally enter the franchising arena, all in hopes of using this strategy to expand their reach. We often refer to these new entities as "emerging" brands, those who have been in business for less than five years. Even so, a small percentage of these startup franchises managed to earn a spot on our prestigious Franchise 500 list.
Related: 4 Helpful Tips for Emerging Franchise Brands
Entrepreneur has recently released a new list, a subset of top new and emerging brands that ranks 150 of the hottest new franchise opportunities. Just like with all brands who vie for the opportunity to appear on the Franchise 500 list, we also scored these emerging concepts on a 150-data point scale. What does Entrepreneur take into account when scoring these upstarts? Unit growth, cost, fees, training programs, support strategies, and of course – the overall health of their financial performance.
Related: How Small Brands and Entrepreneurs Can Navigate the New Era of Digital Retail
We were quite impressed with the variety of entries we received and, thanks to our further curiosity, we decided to run individual profile features on the best of the best who earned a spot on our top new and emerging franchises list. Over the next few days, we'll be debuting a new series that showcases who these individual brands are, how they operate, and what they hope to gain through franchising their concepts. As you review the brands featured in the preceding series, note that each of these emerging franchise opportunities gave us a reason to pause and take notice.
Perhaps you should do the same.
