• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
Menu
  • Home
  • About
    • About Franchise Chatter
    • Contact
    • Privacy Policy
    • Terms of Service
    • Affiliate Disclosures
  • Subscribers Only
    • Login
    • New to Franchise Chatter? Start Here
    • America’s Most Lucrative Franchises
    • Franchises Ranked by Average Revenues
    • Franchises Ranked by Average Profits
    • Franchise Winners, Survivors and Losers Last Year
    • FDD Talk
    • Search by Name
  • Top Franchises
  • Franchise Earnings
  • Costs
  • Fees
  • Quiz
  • Search

Lesson #33: How Your Local Community Should Affect Your Franchise Choice

Published on January 11, 2022 by Franchise Chatter Leave a Comment
in Franchise 101: Lessons in Franchising



Learn Which Franchises Can Make You Rich

This lesson is part of our free Franchise 101 course.

Capitalism teaches us to think in selfish terms, about our own needs and desires. But running a business is also a chance to connect with other people, to contribute to our communities. The most successful businesses tap into an unrecognized need in the communities they serve, so it’s worth considering these needs when investing in a franchise.

America's Most Lucrative Franchises of the Year

What’s Already Here?

Your local community is your potential market for any franchise, so it’s important to look at that community when deciding what business to set up.

Start by looking at the establishments that are currently in your area. What services are already well provided? Seeing gyms everywhere might make you think about gyms as a business model, but it also means that there are enough of those to go around, and local people don’t need more.

If you’ve already got a list of franchise types that you’re considering, then compare them with what’s available locally. Walk around town or do an internet search to see what needs are being fulfilled. Sure, there are plenty of gyms, but are there accounting and tax services in your area? Has anybody set up a donut shop or a trampoline park? Are there enough coffee shops to meet the needs of the morning rush?

What Can I Add?

Think about what you could add that would have real value for people around you.

There might be some clues toward this in online groups for local communities. What services are people struggling to find? Are there things that they keep saying they’d like to see? Perhaps there are lots of artistic types but no opportunities for them to meet up, and a paint and sip group could fill that gap.


🎯Find GOOD Franchises in Your Target Industries That Are STILL Available in Your Area (Free Tool)



💰How Much Franchise Can You Afford? Use Our Free Financial Calculator


There might also be unmet needs that people haven’t noticed, but that you can spot by comparison with other places. Perhaps the next town over has a popular sushi bar, but your town is all Mexican and French restaurants – this could be your chance to widen people’s horizons. Consider which specific niches are filled, which are empty, and whether they would be valuable to the people around you.

This is your chance to start your business on a sound footing while contributing to the area you live in. Take your time, consider your surroundings, and pick a franchise that suits your community as well as you: it’s the surest way to find your local customers.


🎯Find GOOD Franchises in Your Target Industries That Are STILL Available in Your Area (Free Tool)



💰How Much Franchise Can You Afford? Use Our Free Financial Calculator





Franchise Winners and Losers Last Year

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Previous post: V's Barbershop's Initial Franchise Fee, Royalty Fee + 31 Other Fees

Next post: FDD Talk: How Much Does a School of Rock Franchise Make (Average Revenues and/or Profits)?

Primary Sidebar

🎯Find GOOD Franchises in Your Target Industries That Are STILL Available in Your Area (Free Tool)

💰How Much Franchise Can You Afford? Use Our Free Financial Calculator

As seen in:  New York Times, Bloomberg Businessweek, and CNBC

Login

Remember Me
Register | Lost your Password?
Reminder: Your username and password are case-sensitive.

Need help? Email franchisechatterblog@gmail.com

🚀 Daily FDD Talk Posts

College HUNKS Hauling Junk & Moving Franchise

Sport Clips Franchise

QC Kinetix Franchise

Annex Brands Franchise

Steak ‘n Shake Franchise

Garage Force Franchise

Pet Butler Franchise

Kilwins Chocolates Franchise

Matco Tools Franchise

Firehouse Subs Franchise

Mr. Handyman Franchise

GarageExperts Franchise

Tropical Smoothie Cafe Franchise

Moe’s Southwest Grill Franchise

Tim Hortons Franchise

Toppers Pizza Franchise

Sonic Drive-In Franchise

Elements Massage Franchise

Wild Birds Unlimited Franchise

Qdoba Mexican Eats Franchise

Great Harvest Franchise

Snap-On Franchise

Mathnasium Franchise

Beef Jerky Experience Franchise

Ellie Mental Health Franchise

Miracle Method Franchise

LearningRx Franchise

Ellianos Coffee Franchise

The Patch Boys Franchise

Grasons Estate Sales Franchise

Style Encore Franchise

Music Go Round Franchise

Play It Again Sports Franchise

Plato’s Closet Franchise

Once Upon A Child Franchise

Jeremiah’s Italian Ice Franchise

🏆 Best Franchises by Industry

Best Franchises by Industry (All Lists)

Best Laundromat Franchises

Best Storage Unit Franchises

Best Car Wash Service Franchises

Best Gym and Fitness Franchises

Best Pizza Franchises

Best Sandwich Franchises

Best Childcare Franchises

Best Ice Cream Franchises

Best Coffee Franchises

Best Hamburger Franchises

Best Salon and Beauty Franchises

Best Chicken Franchises

Best Smoothie and Juice Franchises

Best Maid Service Franchises

Best Mexican Restaurant Franchises

Best Massage Service Franchises

Best Tutoring Franchises

Best Auto Repair Franchises

Best Auto Oil Change Franchises

Best Asian Restaurant Franchises

Best Pet Franchises

Best Commercial Cleaning Franchises

Best Sports Bar Franchises

Best Baked Goods Franchises

Best Moving/Junk Removal Franchises

Best Mailbox Franchises

Best Apparel Retail Franchises

Best Senior Care Franchises

Best Restoration Franchises

Best Tech Franchises

Best Travel Agency Franchises

Best Trampoline Park Franchises

Best Tools Distribution Franchises

Best Salon Suites Franchises

Best Property Management Franchises

Best Laboratory Services Franchises

Best Staffing/Recruiting Franchises

Best Real Estate Franchises

Most Profitable Franchises

Top Low Cost Franchises

Franchise Chatter uses affiliate links for Franchise Help and Franchise Brokers Association.

Franchise Chatter © 2022