One trend is social media and marketing. Consumers have information at their fingertips. They expect quick answers, and they are not interested in "being sold" on a product anymore. The franchises who adapt to this new environment should prosper.
Also, the franchise industry has been capitalizing on baby boomers that are living longer. One trend is franchising concepts which allow retired folks to enjoy themselves longer. Examples include: cruises, fitness centers, and golf-related franchises. Senior medical and non-medical care is also a rapidly growing segment.
Other sectors that should continue to grow in 2010 include:
- Children's education franchises and parent outsourcing is still expanding
- Green continues to grow
- Home-based franchises are popular due to convenience and low investment
- Food sectors with new concepts are constantly popping up
- Discount retail and resale shops are increasing since consumer spending is down
- Local businesses that support locally grown produce
- Alcohol that is affordable
- Pet spending is up according to the American Pet Products Association
