Lucrative Niches + Established Marketplaces = Better Chances for Franchise Success
To succeed, a franchise must identify a need in the marketplace, and fill that need. Particularly in today's economy, finding a niche can mean the difference between downsizing, maintaining, or growing your business.
Franchises that find that niche can be successful even in otherwise languishing industries. Here is sampling of a few franchises that have found their niche:
1) The dry cleaning business has been around for decades without seeing any franchises experiencing significant growth. However, Certified Resotration Dry Cleaning Network has found its niche by focusing on dry cleaning clothing and household items damaged by smoke for insurance companies.
2) Rescuecom's niche is providing onsite emergency computer repair 24 hours a day 7 days a week.
3) Finally, many fitness centers are now transitioning away from the do-it-all exercise and work out centers to smaller specialized fitness centers targeting specific clientele such as women or men only or specific workouts like aerobics or weightlifting.
The great thing about finding a niche is that it does not cost money; it just takes a little instinct and a lot of thought. If your business is struggling in these hard times, see if there is a niche you have been missing that could open the doors to some additional revenue.
