CONCEPTS APPEAL TO FRANCHISE INVESTORS’ UNIQUE NEEDS
The franchise industry is diverse enough that investors can find concepts fitting nearly any need. From lifestyle businesses that blend entrepreneurship with personal fulfillment to high- growth businesses with enough challenge and excitement for the most ambitious individual, today’s franchises have something for almost everyone. Prospects for Dream Vacations are initially attracted to the travel franchise because of their personal passion for travel coupled with low startup cost and the chance to be home- based, says Debbie Fiorino, senior vice president of the Fort Lauderdale- based franchiser. “In addition, we are one of the few franchises that give owners the option to work their franchise either full- time or part- time,” Fiorino notes. “Plus, being in the travel industry, they can take advantage of travel perks.” More than 1,200 Dream Vacations franchises operate in all 50 states. Over the next year, Fiorino says, the company anticipates growing its network by 15 percent. The balance of efficiency and curb appeal of the My Place Hotels of America lodging franchise is one of its main attractions, says Ryan Rivett, president and chief executive officer of the Aberdeen, South Dakota- based company. “From the footprint of our engineered prototypes to the ease of operation of our platform, franchisee feedback affirms our position as a leader in efficiency. Doing that better than most has resulted in an exceptional franchise experience for guests, operators, and owners,” Rivett says. My Place has 44 locations up and running across 21 states. Over the next year, the franchise is expected to open more than 70 locations. After early expansion near its Midwest roots, My Place locations are popping up farther afield. “We’ve been very busy seeking new relationships beyond the Midwest— east and west, coast to coast,” Rivett says.