Talk on the Street
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Talk on the Street
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Service-Based Franchises Benefit from Baby Boomers
Service-based franchises are showing strong growth in popularity and demand. According to experts All State Franchise Finders, baby boomers are driving this trend.
Service-based franchises, like aged care, child care, pet or home care services, are showing strong growth in popularity and demand and, according to business and franchising experts like All State Franchise Finders, it is the increasing number of baby boomers that is driving this trend.
Baby Boomer Statistics
According to the Pew Research Center in Washington, DC, 2011 saw the oldest of the baby boomers turning 65. From 2011 until 2030, around 10,000 baby boomers will reach 65 years of age each and every day.
Baby boomers make up approximately one quarter of the population of the United States. This huge cohort coming into retirement will dramatically change the composition of the country.
“At present, we are only in the very early stages of this baby boom retirement. Already we have seen an increase in demand for businesses that are service-based,” says Derek Cafferata, CEO of All State Franchise Finders, franchising experts who are based in Fort Worth, TX.
Baby Boomers Mean Business Opportunity
Derek Cafferata believes this is a staggering statistic that shows there will be a huge demand for the need for service-based industries to assist this portion of the U.S. population.
“Business owners are showing keen interest in business opportunities that utilize this target market,” says Derek.
Derek explains that choosing a franchise opportunity that targets this baby boom market as well as other target markets is a smart way to go. “Take a franchise opportunity like Lawn Doctor, for example. The green industry has an annual revenue of $74 billion,” says Derek. “Lawn and garden services are something that the older population can struggle with maintaining, while the younger population often don’t have the time to do themselves.”
A solid franchise business will have strong future growth, despite any economic or recession fluctuations. And service-based franchises are certainly the focus for the future.
This was reflected at the recent International Franchise Expo in Manhattan. Tom Portesy, president of MFV Expositions who hosted the show, confirmed, “Service businesses are pretty hot at the show this year.” He went on to say that, while the service-based industries like aged care, child care and pet care haven’t always been considered typical franchise business opportunities, there is definitely a trend towards these types of services.
The gardening franchise, Lawn Doctor, was started in 1967 and now has over 500 locations. Derek Cafferata believes this type of opportunity is an ideal option for many potential business owners. An 80 percent customer retention rate, proven growth through the recent global financial downturn and an average yearly revenue of almost $600,000 for franchisees, it is easy to understand why All State Franchise Finders are proud to represent such a quality franchise opportunity.
Alongside the Lawn Doctor, All State Franchise Finders, the franchising experts with more than 30 years’ experience in the franchising industry, represent more than 250 of the country’s best franchise opportunities. If you would like more information about the Lawn Doctor, or any other franchise, contact All State Franchise Finders on 1-800-544-2161 or visit their website, allstateff.com today.