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Healthcare Franchises May Be Just What the Doctor Ordered http://ift.tt/2svU0EB People have been asking me what the big trends in franchising are shaping up to be “the next big thing” for the near future. I have been keeping an eye on the various categories within franchising for over two decades and have seen many business models come and go. The first thing that I like to point out is the difference between a fad and a sustainable trend. Unfortunately, some franchise models have been built on fads and did not succeed long-term. The Bad News of FadsA fad is a temporary popular phenomenon that spikes for a period of time and then disappears, sometimes as fast as it arrived on the scene. Fads can make financial sense for business models like products that can be mass marketed while the fad is hot, but it is not a good fit for franchising due to the long-term growth model that franchising depends on. The Value in Sustainable TrendsA sustainable trend, on the other hand, is a shift in the marketplace that happens for a variety of reasons that creates a new reality. This also usually creates opportunities for those that can read the trend and jump in at the right time. We have all heard the term “The Right Place and The Right Time” and have seen a lot of people get rich by taking advantage of trends that have upward growth potential. One of the exciting trends that I have seen develop over recent years is the merging of healthcare and franchising. Much like the Real Estate industry in the early 1970’s, the healthcare industry is beginning to embrace the franchise model to organize owner/operators and expand. Opportunity in Healthcare FranchiseI have interviewed many doctors, clinicians and franchise entrepreneurs and have narrowed down a few of the top reasons the healthcare category is exploding.
We are seeing huge growth in this category due to these and other reasons. Senior care, urgent care centers, chiropractic, dental and orthodontic, sleep centers, med spas, and many other healthcare related, medical and dental franchise opportunities are taking off. This appears to be a very sustainable trend for the franchise industry and can be an exciting way for franchise entrepreneurs such as multi-unit franchise owners to diversify. Related: Business via Entrepreneur: Latest Articles http://ift.tt/1V7CpeP June 22, 2017 at 05:03PM
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