Top Franchise Industries Poised for Growth in 2011
By Jocelyn Chavez
The economy may be exhibiting mixed messages- as evidenced by rising retail sales and job growth, amid falling consumer confidence and skyrocketing fuel prices- however, despite the uncertainty, experts consistently cite the green, eco-friendly industry as a sector that’s poised for growth. According to the research firm, IBISWorld, environmental consulting is expected to be one of the top performing industries of 2011, with revenue projected to increase by 7.5 percent, and employment to grow by 7.2 percent. Green businesses are being hailed as a bright spot in an otherwise uncertain economic outlook. Fortunately, with numerous environmentally-friendly franchises and business opportunities available, you don’t need to be an eco-activist, or possess previous industry experience, to tap into the growing demand for planet-friendly products and services.
From energy auditing businesses, to home improvement, food and retail concepts, a wide-range of eco-friendly franchise opportunities enable you to become part of the green movement.
Going Green is Spurring Spending Among Homeowners and Businesses
With rising fuel prices putting a renewed focus on the importance of reducing one’s carbon footprint, sustainable solutions are at the top of consumers’ and business owners’ minds. Going green begins at home- and at the office- for the growing number of eco-minded consumers and businesses who are utilizing environmentally-responsible products and adopting sustainable living practices. Reducing energy consumption is a top priority, and often the first step consumers and businesses take in an effort to green their routines. In fact:
- 32% of corporate executive respondents ranked energy costs as their most important sustainability metric, in a recent, fourth annual CoreNet Global/Jones Lang LaSalle Sustainability Survey. And U.S. sustainable business spending is expected to double to $60 billion in 2014, according to a recent report from the independent analyst firm, Verdantix.
- 79% of Americans said they would change their energy consumption habits because most of them (72%) believe that how they generate and use energy could hurt the nation’s economic growth, according to a survey commissioned by GE. And a Rent.com national survey found that 86% of Americans would prefer to live in an eco-friendly space.
While many corporate executives and homeowners are aware of the tremendous environmental and economic benefits associated with reducing their energy consumption, they frequently lack the resources necessary to improve their properties’ energy efficiency. Therefore, many people rely on the services that trusted energy auditing franchises provide. As a result, franchises that offer energy auditing services are experiencing high-demand, and provide owners with the opportunity to become part of the multi-billion dollar energy auditing industry.
Social- and Environmental-Responsibility makes Smart Business Sense
Eco-conscious consumers are also increasingly seeking out like-minded businesses, which makes this an opportune time to own a food or retail franchise that takes a green approach. Consider this:
- 80% of U.S. consumers are willing to pay more to dine at environmentally-friendly restaurants, according to a study from Ohio State University.
- 35% of U.S. consumers say they would pay more for environmentally-friendly products, according to a survey on green living from market research firm, Mintel.
- 83% of U.S. consumers want more of the products and services they use and the retailers they frequent to support causes, with 73% of respondents indicating the environment is a cause they want companies to support, according to the 2010 Cone Cause Evolution Study.
Businesses that Positively Impact the Environment
The green movement continues to gain momentum. And as awareness of the significant benefits that eco-friendly products and services offer grows, more and more consumers and businesses will be seeking sustainable solutions.
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