Entrepreneur Magazine recently released its list of The Hottest Franchise Categories of 2022. According to the article accompanying the list, “most of the categories we chose this year grew in reaction to new, pandemic-fueled needs. . . . But in 2022, we expect a lot of franchise growth to be driven by the need—or at least the desire—to get back to some semblance of ‘normal.’” In this article, franchise lawyer Jeffrey M. Goldstein shares his thoughts on Entrepreneur Magazine’s picks as well as some of his own insights on choosing a category to target as a prospective franchisee.
Entrepreneur Magazine’s “Hot” Franchise Categories for 2022
First of all, it is worth noting that aside from the quote above, the article doesn’t provide any details regarding the selection process. As a result, as with most “top” franchise lists and franchise reviews, it is important to take Entrepreneur Magazine’s recommendations with a grain of salt. With that said, the “hot” franchise categories for 2022 according to Entrepreneur Magazine include the following:
- Children’s Education and Enrichment
- Cleaning and Restoration
- Health and Wellness
- Home Improvement
- Salon and Spa Services
- Senior Care
- Staffing and Recruiting
As you can see, this list covers a broad range of both necessary and non-necessary products and services. While all of the categories on the list can probably be justified in some manner, it is hard to pinpoint exactly what makes each of these a “hot” category for 2022 as opposed to any other year. These are all popular franchise industries in general, and the list encompasses some of the world’s most well-recognized franchised brands.
Insights for Buying a Franchise in 2022
Ultimately, when buying a franchise, it is important for prospective franchisees to make informed decisions based on their own personal interests, capabilities and desires. Even if pet franchises are a “hot” category for 2022, if you don’t like animals, there are probably better options available. Likewise, if you don’t have any experience in staffing or recruiting, then you might find it difficult to succeed as a staffing or recruiting franchise—even if your franchise’s services are in high demand.
We recently published an article titled, 5 Tips for Buying a Franchise in 2022, and these tips are really just the tip of the iceberg. When choosing a franchise opportunity, there are numerous factors to consider, and you need to be very careful when evaluating the Franchise Disclosure Document (FDD) and reviewing the franchise agreement. Our blog provides a wealth of additional free information; and, if you are serious about buying a franchise, we encourage you to read about our fixed-fee franchise business review programs.
Discuss Your Franchise Opportunity with Franchise Lawyer Jeffrey M. Goldstein
If you are interested in one of our fixed-fee franchise business review programs, please contact us to learn more. To discuss your franchise opportunity with franchise lawyer Jeffrey M. Goldstein in confidence, call 202-293-3947 or request a free initial consultation online today.