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22nd February 53/365

Maybe you should find a unique franchise niche.

(This post may contain affiliate links. Please read my disclosure policy).

A recent article in Kiplinger Personal Finance magazine discussed franchise research.

Part of the article featured a would-be franchise owner’s search for the right franchise.

From Kiplinger:

Rowley Mayo said that his analysis of the Minneapolis area found that the appliance-repair business was dominated by giant retailer Sears and independent repairmen who worked out of their pickup trucks. Mayo believed that there was a niche between those two extremes that Mr. Appliance could fill. So far, his bet has paid off: Sales have grown from $143,000 in 2011 to $325,000 last year. He employs three technicians and is hoping to add a fourth this spring.”

Read more here.

Mayo found a niche. His niche.

Can you?

 

Pizza Pizza

Pizza_052
Here’s an idea; instead of poking around every pizza franchise that’s currently being offered in North America (to find the perfect one) take some time to sharpen whatever instrument it is that you’re using to do the poking, and do what I’m about to suggest; find a niche in pizza.

Now, assuming you’ve sharpened it, you now have a sharper instrument with which to poke; let’s see if you can find a business that focuses on only one segment of the vast pizza market.

Let’s do it together.

 

Start From The Top Of The Mountain

What can be served with Pizza?

  • Appetizers
  • Salad
  • Chicken Wings
  • Beverages
  • Dessert

Is there anything that jumps out at you from that list? Are any of those products (by themselves) being addressed by the pizza market-or any part of the food-service franchise segment?

Go to a franchise portal or franchise directory and find out!

 

From The Middle Of The Mountain

Now, let’s look at what types of pizza pies are currently being served.

Like:

  • Traditional pizza
  • Healthy pizza
  • Gourmet pizza
  • Deep dish pizza
  • Thin crust pizza

Are there any niches there? Are there any pizza franchises that specialize in those pizza types?

And, if so, are they doing a bang-up job? Should you look into any of them? Is there room for you?

 



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From The Base Of the Mountain

Are you starting to look at pizza in a different light?

Let’s poke the pizza franchise segment a little more.

How are pizzas being sold? How are they being served?

For example, there are pizza franchises that serve things like single-serving pizzas.

If you want a guaranteed hot pizza-you can order one half-baked, and finish it off at home.

We’re getting closer now, aren’t we?

 

Not Pizza

I used the pizza franchise segment as an example because it’s an easy one to visualize.

But, there’s a lot more to franchising than pizza.

You can do this exercise with any segment of franchising.

If you’re truly looking for a franchise business opportunity that is different, consider looking for a franchise niche.

Or, create one.

 

Images courtesy of 1. fifikins and 2. rob_rob2001 on Flickr

 

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joel libava

I'm The Franchise King®, Joel Libava. I help prospective franchise owners avoid bank account emptying mistakes.
For 23 years, I’ve been showing people how to make smart, informed decisions on franchises to buy, and I can help you, too!
P.S. I'm not a franchise consultant/broker.

Straightforward Advice
Joel, thank you for taking the time to speak with me yesterday. It was refreshing to finally speak with someone in franchising who dishes out straightforward, candid advice. You provided me with some insightful ideas that I'm giving a good deal of thought and consideration to. I look forward to speaking with you on our next consultation call."
- John Timmins, Columbia, South Carolina
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