Joel Libava
(Retail stores)
When you think about retail franchise opportunities, what brick and mortar stores come to mind?
Better yet, what types of brick and mortar stores do you think of?
FYI: This retail store is not a franchise. (Unfortunately)
But this packing and shipping franchise is.
If you need help naming retail franchises, you’ll see dozens of them on the Franchise Direct website.
Of course you don’t have to look at brick and mortar franchises. There are plenty of other categories.
But if you’re interested in owning more than one franchise unit, retail is worth a look.
Keep reading.
Brick And Mortar Facts
Get ready to be surprised.
Most pet franchise opportunities aren't worth your time. This one is different — and most people never even hear about it. Low investment. Serious support. Real upside.
Check Out This Opportunity Today
According to a study done by A.T. Kearney…
“The physical store is the channel of choice across all ages (from Millennial to senior citizens) and household income levels (from less than $25,000 per year to more than $100,000 per year).”
And…
“40% of customers spend more money than planned during in-store visits, vs. 25% of online shoppers.”
Those two items are good news if you’re thinking about going the retail route in franchising. But, I have more.
Two Retail Trends To Watch
According to McKinsey, there are two areas of growth to watch.
1. Millennials (population between ages 13 and 30) which constitute 15% of the US consumers, are going to account for almost 33% of total spending by 2020.
2. Baby boomers will still drive the major retail categories such as food* (92%), housewares (73%), and apparel (56%)
*McKinsey included food as retail. I don’t.
Can you think of any specific franchise opportunities that cater to the demographics mentioned above?
Finally, here’s one more statistic-and it’s a biggie.
87% of shoppers go to a store when they are ready to purchase a particular product.
That’s right. A store.
Shoppers, get in their vehicles, and drive to a brick and mortar store to buy.
Would you like to be a part of that?
A New Retail Franchising Report Is Out
My friends at Franchise Direct have put together a detailed report on retail franchising.
Here are a few things that are included in the report:
- Combating the “Amazon Effect”
- Factors for Retail Franchise Success
- Costs of Buying a Retail Franchise
If you like the idea of owning and operating a retail franchise, or know someone who’s been talking about buying a retail franchise business, the Franchise Direct 2017 Retail Franchise Industry Report is a must-read.
About the Author
Joel Libava is The Franchise King® — an independent franchise advisor with 25+ years in the industry, two published books on franchising, and his writing has been featured in The New York Times, Forbes, CNBC, Entrepreneur® Magazine and others. In addition, he wrote exclusively for the U.S. Small Business Administration blog for eight years. He doesn't sell franchises. Instead, Joel helps you figure out if franchise ownership is actually right for you — and if it is, teaches you his powerful, proven-to-work franchise research techniques, so you can make a smart, informed decision on a franchise to own and be your own boss.
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