15 Fastest Growing Franchises

In this article we are going to list the 15 fastest growing franchises. Click to skip ahead and jump to the 5 fastest growing franchises. Capitalism is thriving more than ever in today’s day and age.

With the modern advancements that our society is experiencing, Private businesses are booming. Although much of the left side of politics might talk against capitalism, it is hard even for them to ignore its advantages. Milton Friedman, the American economist famously said, “A society that puts equality before freedom will get neither. A society that puts freedom before equality will get a high degree of both.”

According to EconomicsHelp, the core values of a capitalist economic system are lack of government intervention, means of production owned by private firms, and goods and services distributed according to price mechanism (as opposed to government price controls). Capitalism helps generate competition between firms which in turn produces high efficiency rates. Because of the competition, businesses also tend to move towards more innovation to set their brand apart which generally is healthy for a good business environment. The thriving business sphere adds to overall economic growth for the country. Of course too much of anything is bad but a healthy competition only makes for a better business environment. Private ownership thrives under the right conditions and can be very fruitful for the owners. More and more people are moving towards entrepreneurship and opening up successful businesses. But due to the competition, many of these startups don’t do as well as their counterparts. But there is another way where one can become their own boss with a comparatively less risk. This is where franchise ownership comes in.

Investing in a franchise means becoming a part of an already successful business model. Franchise organizations offer a tried and tested structure for launching, operating and growing a business. They usually work with the franchise owners to create operation manuals and programs that cater to all the needs of operations, technology, marketing and accounting amongst other particular areas. The franchise owner will therefore spend less time and effort and have a better chance at success than if they were operating on their own with a business of their own. Becoming a franchise owner also comes with perks that would be hard to come by for otherwise first time business owners. For example, they get access to advertising resources through the parent company. They also get to work with already under the guidance of already successful individuals. There is also a ready market of consumers so getting customers would be relatively easy. The risk of failure or loss is also lower. Another big advantage is the support a franchise owner receives. Because of the system, there is already the support of the franchise owner rooting for the franchise to become successful. Most companies offer training programs that ensure the efficient running of the business which eliminate common mistakes that new business owners generally face.

The franchising business also has a plethora of advantages for the franchisor. It gives them a method to expand rapidly and more easily. It creates an impressive brand awareness network through the franchise owners. It also improves testing and input and promotes innovation because of the diverse samples provided by the expanded network. It enables a steady cash flow for the overall growth of the company. Branching out also helps the brand gain recognition nationally and globally.

Here we have compiled a list for the 15 fastest growing franchises. The date and rankings have been taken from Entrepreneur.com. They are ranked keeping in mind their number of units, and their percentage of growth between the years 2018 and 2019. So let’s take a look at the franchises most likely to appear in your locality, starting with number 15:

15. Kona Ice

Based in the city of Florence in Kentucky, USA, Kona Ice is a mobile, Hawaiian style shaved ice franchise. It has been operational since 2007 when it was founded by Tony Lamb who is also the CEO. Its mascot is a penguin named Kona. The company has more than a thousand franchise locations in 43 states of the United States and across Canada. It is marketed as a slightly healthy alternative to most shaved ice as it has 60 percent less sugar and in some locations, customers also have the option to have it made using 100 percent fruit juice. The initial fee for a franchise is $15,000.

14. Anago Cleaning Systems

A commercial cleaning company, Anago Cleaning Systems has been operational since 30 decades. According to their website, they have provided their services to Healthcare properties, Schools and daycares, Hospitals, Hospitality buildings, Manufacturing facilities and Warehouses. The company offers services that include disinfection, sanitization, deep cleans and terminal cleans. It was founded in 1989 and is headquartered in Pompano Beach, Florida, United States. Anago Cleaning Systems boasts over 40 Master Franchises and over 1,200 Unit Franchisees in the United States and Internationally. The initial fee for a franchise is $32,348.

13. F45 Training

The international fitness community has over 1,750 locations spanning across 45 countries in Asia, Europe, North America, South America, Africa and Australia. It is noted to be one of the fastest growing fitness franchises in the world. It has over 550 franchises in Australia and over 650 in America alone. It was founded about a decade ago in Australia by Adam Gilchrist and Rob Deutsch. The company offers thousands of exercises, customizable workouts and training systems amongst other facilities. The company expanded into Europe in 2017 with opening franchises in Finland, Switzerland, Germany and the Czech Republic. The initial fee for a franchise is $50,000.

12. Jersey Mike’s Subs

Headquartered in Manasquan, New Jersey, Jersey Mike’s Subs is a submarine sandwich chain. It has about 1,742 franchises across the United States as well as in Queensland, Australia and Canada. The CEO Peter Cancro began the company’s journey when he was a mere 14 year old. He bought the shop in 1975 where he worked part time with the help of a teacher. He began franchising the restaurant in 1987 and the company expanded to 750 locations by 2014. The initial fee for a franchise is $18,500.

11. Club Pilates Franchise

Club Pilates was founded by Allison Beardsley in 2007. The club offers members Pilate’s classes with low impact, full body workouts. The club has around 900 franchises across the United States and has also debuted in the Canadian Market. The cost of the membership to the club varies with its All Access Unlimited being worth $ 199 per month. It is headquartered in Irvine, in the state of California. The initial fee for a franchise is $60,000.

10. Goosehead Insurance Agency

Goosehead Insurance Agency (NASDAQ:GSHD) was founded in 2003. It is headquartered in Westlake, Texas, United States. The company was co-founded by Robyn Jones who also acts as its Director and Vice Chairman of the board of directors. It is a specialty insurance. Goosehead offers a range of services including but not limited to life insurance, umbrella policies and landlord insurance. The company has franchises across the United States including California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin. The initial fee for a franchise is between $60,000 and $130,000.

9. Orangetheory Fitness

The boutique fitness studio franchise is based in Boca Raton, Florida. The private company was founded in 2010 by David Long, Jerome Kern and Ellen Latham. It has about 1,200 studios spanning the 50 American states and over 23 countries. According to NBC (NASDAQ:CMCSA) the chain has surpassed a million members. According to a research by Emma Schmidt in Fresh Squeezed Fitness: A Case Study on the Marketing of Orangetheory Fitness, about 75% of its employees are millennial. The initial fee for a franchise is $39,500.

8. Dunkin Donuts

More commonly known as Dunkin’ Donuts (NASDAQ:DNKN), Dunkin’ is an American multinational coffee and doughnut company. It was founded almost 71 years again 1950 in Quincy Massachusetts, USA. Its founder was William Rosenberg. Rosenberg started off by delivering coffees and donuts to hungry workers at workplaces. He opened his first retail store in 1950 which became an overnight success! Today the company has expanded in more than 30 countries with over 6000 stores. Aside from donuts and coffee, their menu has expanded to incorporate a variety of baked goods and beverages. The initial fee for a franchise is between $97,500 and $1,717,103.

7. Stratus Building Solutions

Another commercial cleaning company, Stratus Building solutions started providing its janitorial services in 2006. According to its website, the company “…provides environmentally friendly commercial cleaning services driven by small business owners and regional support centers across North America.” It is currently operating in over 60 major cities with over 2000 franchises. Stratus Building Solutions offers a range of services including Commercial Cleaning, Disinfection, Green Cleaning, Carpet Cleaning, Hard Floor Care, Post-Construction Care, and Medical Grade Cleaning. The initial fee for a franchise is $62,100.

6. Planet Fitness

Founded in 1992 in Dover, New Hampshire, United States, Planet Fitness (NYSE: PLNT) has over 2000 club locations, making it one of the biggest fitness clubs by number of locations and members. The company is spread throughout the United States as well as Canada, Dominican Republic, Panama, Australia and Mexico. Business Insider reports it to be one of the nation’s fastest growing fitness center franchises. The company markets itself as a Judgment Free Zone as it caters to novice and casual gym goers. The initial fee for a franchise is $10,000.

Please continue to see the 5 fastest growing franchises.

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Disclosure: No position. 15 fastest growing franchises is originally published at Insider Monkey.