Ready For a B2C Business Opportunity? It's All Here In Retail Franchising. The B2C business models you've been waiting for.
By Jeff Cheatham •
Opinions expressed by Entrepreneur contributors are their own.
Retail franchising involves purchasing a license to expand a business opportunity that distributes goods and services. It's also an industry sector that happens to be thriving. Retail is a broad market, so it's no surprise that some of the most recognizable franchises fall in the category of retail — such as 7-Eleven, Circle K, Mac Tools, Rent-A-Center and other brand titans.
There are franchise concepts in the retail category at all price points and levels. Candidates need only to do their due diligence in determining the right retail franchise for their respective territory.
Related: Considering franchise ownership? Get started now and take this quiz to find your personalized list of franchises that match your lifestyle, interests and budget.
Retail franchise opportunities
All franchises offer owners a proven business model to follow, extensive training and a high degree of ongoing support to ensure success of the franchisees in their systems. Although many of the retail franchising brands are familiar big names, the category itself is diverse. Convenience stores are possibly the most recognizable concept, but there are franchised retail outlets that sell common goods such as clothing, mobile phone supplies, food and beverages, electronics, mattresses and other household items. There's even a franchise business opportunity that sells caskets and coffins — and the options don't stop there.
A thriving B2C marketplace
This year's Franchising Economic Outlook report from the International Franchise Association (IFA) gave retail franchising some pretty high marks. As far as the predictions go for 2022, the number of retail franchises is expected to jump from 162,579 to 165,955, a 2.1% increase. A similar 2.4% jump is expected in the number of those employed in retail franchising establishments. When it comes to output by franchise sector, retail franchising is expected to top $130 billion, a 2.5% increase over 2021 numbers. What's driving this marketplace? Consumer confidence and spending. The IFA report goes on to say that it's an exciting time for retailers, as consumer behavior and delivery models are rapidly changing, providing new ways of offering consumers convenient access to goods and services.
Related: Retail Will Never Go Back to Normal. That's a Good Thing.
Which retail franchises top the current list?
The top-ranked retail franchise in this year's Franchise 500 is 7-Eleven, ranked at No. 12 overall. Coming in right on their heels is Ace Hardware, at No. 12. Other notables with a top-50 overall spot include Snap-on Tools and Matco Tools. Buddy's Home Furnishings is also a big mover, with an 11.6% jump in awarded units over the past three years, now totaling over 325 locations. To view the full list and see which retail franchises earned a spot on Entrepreneur's prestigious Franchise 500 list, simply follow this link.
