Top Profitable Franchises to Own in Australia
When it comes to gaining ownership of a business in Australia, many can get easily discouraged. It is not surprising, considering the fact that about 10% of small businesses which open at the beginning of a financial year close by the end of that year. That’s why many first-time business owners want to acquire a profitable franchise. It offers the advantage of a business model with low risks, proven success rate, and strong operational framework. If you are looking to invest in a lucrative franchise in Australia, continue reading to learn more about our top recommendations for you.
This franchise has become especially popular following the COVID-19 pandemic. Lockdowns and restrictions on movement have increased the demand for delivery and take-away food options. Branded food trailers experienced high demand among food lovers who wanted to taste their favorite takeaway meals during lockdowns.
Such trailers have expanded the owners’ mobility since they can be placed at strategic locations which would be most beneficial for sales. Food trailers and trucks have a fully loaded kitchen and experience high weekly takings. If you are interested in entering the food and dining sector in Australia, consider a take-away food franchise.
Remote working has become the new way of operating following the pandemic. This transition has caused many entrepreneurs to search for home-based entrepreneurial opportunities. It allows the franchisee the comfort of working at their own hours from their homes without being disturbed by anyone else. Many home-oriented franchises can be acquired at affordable costs and require minimal training such as online tutoring, vlogging, social media marketing, etc.
These services experienced a high surge in growth in the social distancing period and will continue to be in demand. Most of these are recession-proof businesses that can assist other people or entrepreneurs to live a successful life.
The cleaning industry in Australia earns about $4 billion each year. A cleaning business can be started for as low as $3,000 but may fluctuate depending on the kinds of services you provide and the type of equipment you need. This is a growing industry which has a very low starting price and requires almost little to no experience to enter.
Home renovations market in Australia is a $31 billion industry currently and is growing at a steady rate of 2.2% each year. Many Aussies find themselves having less and less time to do home maintenance due to which they require help in this area. Consequently, this industry has grown in the last few decades and its demand is expected to keep increasing in the future.
A handyman franchise is a profitable investment offering plenty of opportunities for growth and investment. Some of the services offered and sought after are repair work, carpentry, electrical work, and plumbing. There are also franchises which offer simpler maintenance services which are appropriate for any person with minimal experience in this field.
Health and fitness
Fitness is a priority for most Aussies. Running, swimming, and jogging are commonly practised by locals. This is why fitness studios and gymnasiums have become flourishing businesses and presently hold a market share of $2 billion.
There are various categories of health and fitness businesses which you can operate. Yoga studio, aerobics classes, dance workshops, and so forth are some non-sport businesses which have a large popularity among women. You can also have a sports business consisting of a cricket playground, a basketball court, or a swimming pool. State-of-the-art fitness facilities are much sought after by the public.
Gardening and lawn mowing
Everybody loves to spend some quality time in their gardens. This is why gardening and landscaping businesses are booming. Currently, it is a $3 billion industry in Australia and has been growing at 2% for the last five years. In their homes, people are investing in gardens to create a peaceful living space while increasing their property’s value.
At the same time, commercial properties are increasingly investing in professional gardening and lawn mowing services. Lawn mowing franchises provide cutting-edge equipment and branded vehicles which can be driven anywhere around large territories. The comfort of choosing how long you want to work and how much work you want to take is available for every owner of this franchise.
Though online shopping has gained momentum in Australia, retail businesses have also grown. Branded retail places are highly sought after by customers as they can locate reliable products and assess their quality prior to making a purchase. There are a variety of retail stores that you can choose from including corporate branding stores, printing cartridges, technology franchise, etc.
In addition to choosing a particular type of franchise, consider obtaining business insurance for safeguarding your franchise from unexpected risks. Learn more about business insurance by visiting this website.