Franchise Gator recently released its 2021 Top Franchises List. Its list is somewhat unique from other franchise reviews in that it includes not only the site’s top-ranked franchises but also its three “Top Franchise Categories of the Year.”
The site provides a brief overview of its selection criteria, stating that, “[r]ankings are mostly based on a formula created from various pieces of the Franchise Disclosure Document (FDD) that focus on financial stability, growth, transparency, engagement, continuity and sustainability.” It also notes that the list focuses primarily on franchises with initial investments on the lower end, and that, “if you are looking for some of the more high ticket, recognizable names in franchising and don’t see them . . . [i]t simply means they were not part of our evaluation process.”
The Top Franchises for 2021 According to Franchise Gator
The franchises at the top of Franchise Gator’s 2021 franchise review are all relatively well-known brands—though certainly not the biggest names in franchising. The top five franchises are:
- Sola Salon Studios
- The Joint Chiropractic
Rounding out the top 10 are Two Men and A Truck, TeamLogic, British Swim School, Sport Clips, and Tropical Smoothie Café. Looking further down the list, there are restaurant franchises (Captain D’s, Checkers and Rally’s), home service franchises (Budget Blinds and Lawn Doctor), and children’s franchises (Bach to Rock Music School and Kiddie Academy)—among many others.
The Top Franchise Categories for 2021 According to Franchise Gator
In addition to its individual franchise reviews, Franchise Gator’s 2021 Top Franchises List also includes a ranking of the site’s top three franchise categories. The rankings, and the explanations for those rankings, are as follows:
1. Automobile Repair Services
“On average, people keep their automobiles for almost 12 years. This number is expected to increase due to rising car prices and longer lasting automobiles. . . . Another key factor is that cars are becoming so technologically sophisticated that repairing your vehicle yourself is becoming almost impossible.”
2. Cleaning Services
“Even as things get back to normal, there’s going to be an increased emphasis on proactive cleanliness as a way of preventing viruses and other pathogens from invading the sanctity of people’s living and working spaces.”
3. Tech Services
“During the pandemic, tech that made it easier to connect with others—such as tablets, smartphones, and computers—became essential for people’s psychological survival. Now, as we move to a “new normal,” technology will continue to be an integral part of people’s lives as they discover that they prefer to continue to work remotely.”
This is an interesting list; and, although it isn’t clear whether the rankings are based on any objective criteria, these are all certainly tried-and-true franchise categories that have stood the test of time. With that said, like all franchise opportunities, if you are thinking about buying a franchise in one of these categories, it is important to thoroughly evaluate your options; and, once you choose an option, you should hire a franchise lawyer to conduct a franchise business review.
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Are you considering a franchise on the 2021 Top Franchises List? If so, we encourage you to contact us to learn about our fixed-fee franchise business review programs for prospective franchisees. For a free, no-obligation consultation, call 202-293-3947 or tell us how we can reach you online now.