Getting Fit: Fastest Growing Franchises Show That Health and Fitness Top the List

Biz.Yahoo:

MINNEAPOLIS, March 2 /PRNewswire/ — You may think of a quarter-pound burger with a side of fries, or perhaps two large tacos and a Pepsi, when you hear the word “franchise.” But one ranking in the franchise community tells us that franchising ain’t just for burgers and fried chicken anymore.Enter this year’s Fast 55, the ranking of the fastest growing, young franchises in the nation. This is the third year Franchise Times, a magazine that covers the franchise community, has published the Fast 55. The list, compiled by FRANdata, a research company that analyzes information and data about franchising, concentrates on companies that have only been franchising in the last five years, and while at the same time, their growth rate is off the charts. The list was sponsored by Snell & Wilmer, a law firm that provides services to franchise companies.

From hypnosis centers to noodle houses, a variety of industries are represented in the Fast 55, said Darrell Johnson, CEO of FRANdata. According to Johnson, franchise growth is coming from a wide range of franchises and industries.

“The companies included in the Fast 55 reveal some interesting insights about trends in franchising,” he reported. For instance, maintenance services, such as minor home repairs and HVAC maintenance, topped the list of industries. Two income families, busier lifestyles and a greater desire for personal amenities are driving the demand for more services to make life less hectic and improve mental as well as physical health. Franchising companies are fulfilling that demand.

“Franchising has moved beyond restaurants,” added Mary Jo Larson, publisher of Franchise Times. She noted that in direct contrast to fast food, one of the industries topping the list was health and fitness. So much for upsizing your fries and Coke.

And while the companies that made the list are smaller, because they are relatively new, the Fast 55 franchisors together represent 3,517 franchised locations in 2004. And their projected growth includes another 2,597 locations by last year’s end.