When Franchise Trends Become Franchise Fads Steps to assess whether a franchise is more likely to thrive than fizzle.

Every business category, from technology to fashion to food, goes through its share of trends. Some of those trends gain traction and become successful businesses. Others plod along, slowly fade, or even fizzle. The road to success is littered with empty storefronts and "retail space available" signs.

Franchises are especially vulnerable to the ebb and flow of fads that evolve from culture trends. As you embark on this exciting journey to owning and running your own business, how can you be confident your franchise choice—and future—will outlive the trends and thrive?

Let's get the disclaimer in here, and note that there are no guaranteed yardsticks for success. Myriad factors go into a successful franchise. That said, there are signs you can look for that indicate your franchise will have the foundation and staying power to help you build the career and life you envision.

Consider the origins of the industry.

Does your franchise relate directly to a popular new service or product? While an affirmative answer here shouldn't disqualify that choice, you'll need to dig much deeper to be confident your venture can adapt if tastes change. Catering directly to trends can be an effective way to generate quick revenue, but no one wants instant success if it doesn't last. Without a track record behind you and a reasonable expectation that consumer demand won't wane, it's harder to predict you'll be going strong 20, 10 or even five years from now.

Is your franchise geared to generate a recurring revenue stream?

There's a difference between a franchise that builds loyalty and repeat business by satisfying customers—a desirable attribute—and one that extends that business into significant cash flow and profits over time. The latter helps insulate you not only from fads, but also from competitors in the market. So, assess whether your business model offers a clear path—and a reasonable expectation—for new customers to become long-term revenue-generators. We'll give you an example of this later in the article.

Are you launching your business with the advantages of a well-established brand?

A brand that consumers recognize and trust brings instant credibility, making your initial launch, and ongoing new business prospecting, easier. What's more, brand leaders that have succeeded over time almost always offer solid franchisee support. This can include everything from financial incentives and training to help you get off the ground, to ongoing training opportunities to keep you in-the-know. Obviously, businesses in nascent categories, serving up the newest "it" product or service, can't check these boxes. Does that make them invalid choices? Of course not. Does it make them riskier? That's for you to decide. Some will take off and never look back. But an outsized percentage of franchises described in those terms lack the foundation to help ensure long-term success.

What's an option that checks all those boxes, and then some?

A great example is the leading brand that's never been in greater demand, in a category that's seemingly been around forever. We're talking about the educational franchise, Kumon.

Education is one of those categories that isn't going away. Kids need to be smarter to succeed in today's competitive world. Parents want their kids to gain an edge. And Kumon's never been more important in its 60-year history.

At its core is The Kumon Method, which not only sets the brand apart from competitive offerings, but also promotes customer longevity.

Unlike "quick-fix" tutoring centers burdened with the need to replenish customers more frequently, Kumon's Math and Reading Program is designed to not only fill gaps and bring struggling kids up to speed, but to keep kids advancing through the many levels of the program. There's almost no limit to how much students can learn, potentially progressing from the age of 3, when they're forming letter sounds and recognizing simple numbers, through high school, when they're analyzing Shakespeare and solving complex calculus. Now that's what you call a recurring revenue stream!

As a brand, Kumon is a trusted name in the educational franchise industry across the U.S. and beyond. With franchises on over 50 countries, and over 60 years of experience, Kumon is a great example of a brand that's built to outlive both fads and competitors.

Learn more about Kumon Franchise, or call us at 844.497.6572.