With the increase in entrepreneurship opportunities, many individuals are considering franchising as a lucrative option to run their own business. Franchises offer the advantage of an established brand and proven business model, reducing risks associated with starting a new venture from scratch. However, not all franchises are created equal – some are experiencing exponential growth and have become the top choices for aspiring entrepreneurs. In this blog post, we will explore the fastest growing franchises in various industries, highlighting the reasons behind their success and the potential they hold for future growth. Whether you are looking for investment opportunities or simply interested in the business world, this list will provide valuable insights into the rapidly expanding franchise market. Discover the key players and trends reshaping the franchise industry and gain a deeper understanding of the factors driving their remarkable growth.
The Latest Fastest Growing Franchises Explained
The fastest-growing franchise in 2021 is Planet Fitness, according to the number of franchises opened.
The statistic indicates that in the year 2021, the franchise that experienced the most considerable growth in terms of the number of new franchises opened was Planet Fitness. This suggests that Planet Fitness was able to expand its presence and attract new business owners or investors to open franchises of their brand at a faster pace compared to other franchises. This growth can be seen as a positive sign for the company, indicating its popularity and potential profitability in the fitness industry.
Another rapidly growing franchise is H&D Spa. They opened 135 units, contributing to an overall growth of 22%.
The statistic states that H&D Spa, a franchise, experienced rapid growth with the opening of 135 new units. This growth contributed to an overall increase in the franchise’s size by 22%. It indicates that H&D Spa is expanding at a significant rate, suggesting that their business model or services are in high demand. This growth rate is noteworthy and indicates a positive trend for the franchise.
Chick-fil-A is among the fastest-growing franchises with a 16.7% increase in sales, reaching $11.3 billion in 2020.
The statistic states that Chick-fil-A, a franchise chain, has experienced significant growth compared to its competitors. In 2020, the company’s sales increased by 16.7%, amounting to a total of $11.3 billion. This growth rate indicates that Chick-fil-A has been successful in expanding its customer base and generating higher revenue. It portrays the franchise as one of the most rapidly expanding businesses in the industry, suggesting its popularity among consumers and potentially highlighting effective marketing and operational strategies employed by the company.
Minuteman Press is a fastest-growing franchise in the print industry with 950 locations in 27 countries in 2021.
The statistic highlights that Minuteman Press, a franchise in the print industry, has experienced significant growth and expansion. In 2021, the company has achieved the status of being the fastest-growing franchise in the print industry. This growth is evident in the fact that Minuteman Press now has a presence in 27 countries, with a total of 950 locations worldwide. The statistic indicates the success and popularity of the franchise, as well as its ability to attract and serve customers in various regions around the globe.
Little Caesars experienced a 12.8% increase in revenue in 2020, indicating a fast growth rate.
The statistic indicates that Little Caesars, a pizza chain, saw a significant increase of 12.8% in their revenue in the year 2020. This implies that the company experienced a fast growth rate within that period. The increase in revenue suggests that Little Caesars was able to attract more customers, generate higher sales, or implement effective strategies to boost their profitability. This growth rate is noteworthy as it demonstrates the company’s ability to adapt to changing market conditions, meet customer demands, and compete successfully in the competitive food industry.
Panera Bread was one of the quickest growing franchises in 2020, with system-wide sales growing by more than 4%.
The statistic shows that Panera Bread had experienced significant growth in 2020 as a franchise. Specifically, the system-wide sales of Panera Bread increased by over 4% during that year, indicating a positive trend in terms of revenue generation for the company. This growth rate qualifies Panera Bread as one of the fastest-growing franchises in the market during 2020, showcasing its success relative to other similar chains.
Great Clips is the largest and fastest-growing haircare brand in the world, with more than 4,400 salons across North America.
The statistic states that Great Clips is currently the leading haircare brand globally in terms of size and growth rate. With a presence of over 4,400 salons across North America, Great Clips has established its dominance in the haircare industry. This statistic indicates that the brand has a significant market share and is witnessing rapid expansion, highlighting its success and popularity among customers.
Coverall has seen a growth of 7.23% in terms of franchise locations in 2021.
The statistic “Coverall has seen a growth of 7.23% in terms of franchise locations in 2021” indicates that the number of franchise locations for the company, Coverall, has increased by 7.23% compared to the previous year. This growth suggests that more individuals or businesses have chosen to become franchisees of Coverall, resulting in a larger network of locations. This statistic highlights positive expansion and may be indicative of the company’s success and increasing popularity among entrepreneurs or investors seeking franchise opportunities.
Taco Bell is ranked among the fastest-growing franchises, with a net growth of 102 new units in 2020.
The statistic ‘Taco Bell is ranked among the fastest-growing franchises, with a net growth of 102 new units in 2020’ indicates that Taco Bell, a fast-food chain, has experienced significant expansion in terms of the number of its franchise locations. Specifically, in 2020, Taco Bell has added a total of 102 new units to its franchise network. This statistic reflects the growth and success of the Taco Bell franchise, positioning it as one of the rapidly expanding franchises in the industry.
Check-Ups, a low-cost mobile medical franchise, grew from one location in 2018 to 144 franchises two years later.
The statistic states that Check-Ups, a mobile medical franchise, experienced significant growth over a two-year period. In 2018, there was only one location. However, by the end of two years, the franchise had expanded to 144 franchises in total. This growth highlights the success and popularity of the Check-Ups franchise, which likely attracted a large customer base due to its low-cost medical services provided through a mobile platform.
HomeVestors of America, also known as We Buy Ugly Houses, grew their system sales by 6% in 2020.
The statistic indicates that HomeVestors of America, a company commonly referred to as We Buy Ugly Houses, experienced a 6% increase in their system sales during the year 2020. System sales refer to the total revenue generated by the company’s franchise system. This growth suggests that HomeVestors of America was able to expand its business and attract more customers, resulting in higher sales compared to the previous year.
In 2020, Kumon, a global after-school tutoring franchise, grew its footprint by more than 5%.
This statistic indicates that in the year 2020, the after-school tutoring franchise called Kumon experienced a growth in its presence around the world. Specifically, their footprint, which refers to the number of centers or locations they have, increased by more than 5%. This suggests that Kumon expanded their operations and established new tutoring centers in various locations during that year.
Subway is among the fastest-growing franchises and increased its locations by 2.6% in 2020.
The statistic indicates that Subway, a franchise restaurant, has experienced significant growth in terms of its number of locations. In 2020, Subway expanded its network of franchises by 2.6%, indicating a steady increase in its presence. This growth rate suggests that Subway is one of the fastest-growing franchises in the market, as it continues to establish and open new locations at a notable pace.
7-Eleven holds the record for the most franchises in the world, with over 71,000 stores across 17 countries.
The statistic highlights that 7-Eleven, a well-known convenience store chain, holds the impressive distinction of having the most franchises in the world. With an extensive presence spanning across 17 different countries, 7-Eleven operates a remarkable network of over 71,000 stores. This statistic showcases the brand’s global reach and popularity, illustrating its successful business model and ability to establish and maintain an extensive franchise system.
Ace Hardware had an impressive year in 2020, with retail revenues increasing by nearly 30%, making it one of the fastest-growing franchises.
The given statistic states that Ace Hardware, a retail franchise, experienced significant growth in the year 2020. Their retail revenues increased by almost 30%, a substantial figure. This growth signifies that Ace Hardware is one of the fastest-growing franchises, implying that it is expanding rapidly compared to other franchises in the market.
Smoothie King grew by more than 7.8% in 2020, marking its eighth consecutive year of positive sales growth.
The statistic indicates that Smoothie King, a company specializing in selling smoothies, experienced a growth rate of over 7.8% in 2020. This growth signifies the eighth consecutive year in which the company achieved positive sales growth. The figure suggests that Smoothie King’s business is thriving and that its revenue increased at a healthy pace during the specified year. This statistic highlights the company’s sustained success and demonstrates its ability to consistently attract customers and generate sales growth over an extended period.
Jan-Pro Cleaning Systems is considered a fastest-growing franchise, with 1.5% more units in 2021 than in 2020.
The statistic suggests that Jan-Pro Cleaning Systems, a franchise business specializing in cleaning services, experienced significant growth between 2020 and 2021. Specifically, the number of units associated with the franchise increased by 1.5% during this time period. This growth rate indicates that Jan-Pro Cleaning Systems is expanding at a relatively fast pace, which is a positive indicator of the franchise’s success and market demand for their services.
In the pet industry, Pet Supplies Plus is one of the fastest growing franchises with a 6% increase in number of locations in 2020.
The statistic states that Pet Supplies Plus, a franchise in the pet industry, experienced significant growth in the number of their locations in 2020. Specifically, the franchise expanded by 6% during this year. This reflects the company’s success and popularity within the industry, as it indicates an increasing demand for their products and services. The growth rate suggests that Pet Supplies Plus is one of the fastest growing franchises in the pet industry, positioning them as a key competitor in the market.
Conclusion
In conclusion, the world of franchising offers immense opportunities for entrepreneurs seeking quick growth and success. From the data and analysis presented in this blog post, it is clear that there are several franchises that have experienced exponential growth in recent years. These franchises have proven to be resilient even in challenging economic times, offering innovative business models and strong support systems.
However, it is important to recognize that while the fastest growing franchises may be appealing, success is not guaranteed. Factors such as market saturation, competition, and changing consumer preferences can all impact the growth potential of a franchise. Therefore, thorough research and careful consideration are crucial before investing in any franchise opportunity.
Ultimately, the key to succeeding in a fast-growing franchise lies in understanding the industry, assessing market demand, and finding a franchise that aligns with your skills, interests, and financial goals. By conducting due diligence and seeking professional advice, aspiring franchisees can position themselves for success in this dynamic and ever-evolving business sector.
Remember, the fastest growing franchises may provide an exciting opportunity, but success ultimately depends on factors such as effective management, strong leadership, and a willingness to adapt to changing market dynamics. With the right approach and careful planning, aspiring entrepreneurs can turn their dreams of owning a thriving franchise into a reality.
References
0. – https://www.www.franchisechatter.com
1. – https://www.www.acehardware.com
2. – https://www.www.petsuppliesplus.com
3. – https://www.www.franchisehelp.com
4. – https://www.www.franchisedirect.com
5. – https://www.www.qsrmagazine.com
6. – https://www.www.franchising.com
7. – https://www.www.entrepreneur.com
8. – https://www.www.businesswire.com
9. – https://www.www.kumonfranchise.com
10. – https://www.www.nrn.com
