The current college graduates and young entrepreneurs, who aim to step into the business world, are looking for new-age opportunities that fit their pockets and also meet the needs of the market. Due to the COVID-19 outbreak, the unemployment rate has escalated and students searching for potential job openings have reached the threshold. In these times of uncertainty, it is favorable for students to explore new territories and break free from the adage of settling down with a secure job position. With time, the young entrepreneurs are navigating the franchise business path and ultimately targeting to reach the destination of success.
Let’s dive into a few of the best options available:
- Music Industry
Music is a major part of everyone’s lives. For every age and stage of life, there is music defining the various moods and depths of time. During the teens, music becomes an expression as it easily expresses enthusiasm and also escapism from reality. Hence, this is an ideal choice for franchise business as the music industry is worth billions, and the opportunities here are exceptional. As the various music genres like pop, rock, hip-hop, and more have been here for decades, several modern genres are becoming sensational overnight. With social media platforms marketing music at its best, this industry should be a win-win situation for a young entrepreneur.
- Pet Babysitter and Grooming Industry
This industry is a lucrative choice for zealous entrepreneurs as pet-related franchises are performing excellently in the past few years. Be it dogs, cats, birds, or any animal, they all need to be groomed to lead a healthy and happy lifestyle. Hence, every pet owner looks for trustworthy brands, which provide suitable services and products to keep their pet nourished and safe. The Pet Care Market size was over $223 billion in 2019 and is estimated to grow 5.9% CAGR in the next five years.
- Personal Fitness Training Industry
The fitness industry is a game-changer for franchise businesses as it has grown with leaps and bounds in the succeeding years. Going to the gym, following a diet, and waiting for results is what every ordinary person does. However, one major concern to notice here is that fitness is a long-term journey and short-term results don’t benefit in the longer run. Hence, opting for a personal trainer has become common these days and many young professionals are looking at this as a potential career option.
- Tutor Services
The blend of education and technology has never failed to impress, the EdTech industry has instilled a way of learning that is contemporary, futuristic, and driven by ambitions. Tutoring may seem like a tedious process, but with the hi-tech types of equipment and models available currently, this is a thriving business idea. Many professionals are experts and their expertise can be combined with academics to fit the role of an educator. Hence, if this business idea is executed accurately, it can become a global chain worth millions.
- Recruiting Industry
This one will outperform all of the above as the COVID-19 situation has given this franchise business momentum for this upcoming year. Last year has been difficult for all the job seekers and as the crisis worsens, individuals are applying for every position available. Hence, a recruiting application has become a priority at this moment and if the demands of the customers are fulfilled, the profits from this business model will be massive.
These are the top five business franchise opportunities for the entrepreneurial-minded young individuals looking to start their new venture while encountering the challenging roadblocks, strategies, investments, marketing, and finding more efficient adequate resources to kick-start their dream project.