7 Top Franchises for 2020
We have an awesome guest returning to the show today to chat with us about franchises: Kenny Rose! Last time, Kenny introduced us to the world of franchising and why it can be such a great way to build wealth. In this episode, he’s telling us about 7 of the hottest franchises for 2020 and what to keep in mind if you’re interested in getting into each industry.
Kenny Rose is one of the world's experts when it comes to franchise investing, having been featured on ABC, in an Amazon Best Seller, and is the top writer on franchising on Quora. His company Semfia is a franchise brokerage educating investors on the franchise industry and matching them up to the fastest growing brands available based on their goals, budget, and long term goals.
In this episode, Kenny and I talk about what’s trending in franchises right now and which industries he’s keeping an eye on. We discuss barbershops, fitness classes, food franchises, and even eyelash extensions. And if you have any questions about what you hear today, you can pick up Kenny’s free eBook or reach out to him on LinkedIn for more information.
And if you move forward with Semfia, listeners of The Richer Geek will get $1000 off their franchise fee - so be sure to mention that you’re a fan of the show!
In this episode, we’re discussing…
Why starting a franchise might be a great option for you.
What we mean when we say a franchise is “recession resistant”.
Why fitness franchises are seeing such an explosion in growth and which ones are doing well.
How your project management experience can help you run a successful franchise.
Seven of the hottest industries for franchises right now and what to know about each.
Kenny’s Top Tips:
Franchises can be a good semi-absentee option – if you don’t want to have to show up to work at your franchise every day, make sure you’re in an industry that allows you to be an absentee owner. And be sure to invest in great management!
Do your research before choosing a franchise – don’t just invest in a franchise that popped up in your neighborhood and seems to be doing well. You need to make sure there’s room for you in the market, that the business model works, and that it’s a right fit for your financial goals.
You might be able to run a franchise with 1-2 employees – some business models like The Clothes Bin are simple and streamlined enough that they can balance nicely with your 9-5 job. But be quick - these opportunities won’t last long!
Resources:
Want to know more about how to buy a profitable hotel? Join our upcoming workshop - you can find all the details here!
Check out Kenny’s free eBook: Top 7 Semi-Absentee Franchises to Invest in 2020
TRG 11: Create financial security with a self-directed IRA with Henry Yoshida
TRG 40: Project manage your way to a successful side business with Adolphus Gwynn
Unsure where to start investing your money? Check out our free quiz for guidance and ideas about what to do with your money that’s smarter and can help you generate extra income now.
Like what you’re hearing on The Richer Geek? Have questions you want me to cover? Connect with me on LinkedIn and let me know – I’d love to hear from you!
ABOUT KENNY ROSE
Kenny Rose is one of the world's experts when it comes to franchise investing, having been featured on ABC, in an Amazon Best Seller, and is the top writer on franchising on Quora. His company Semfia is a franchise brokerage educating investors on the franchise industry and matching them up to the fastest growing brands available based on their goals, budget, and long term goals.
Kenny is a big fan of building relationships over time, and you can connect with him on LinkedIn or through the Semfia website at www.semfia.com.
