Are you a self-appointed computer guru? Perhaps one of those people who doesn’t seem to know enough about the connected world of mobile-based applications, new technologies, games and information services (IT)? If you’ve always had a knack for and an interest in technology, the niche market of technology business franchises may be the perfect way for you to start a business.
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fast growing market
If the world of personal convenience sees another technological leap every time you turn around, you’re certainly not alone. Some of the world’s largest brands have been working to develop technologies designed to improve consumer convenience, value and cost-effectiveness. In response, the category of technology-related business opportunities in the franchise world has flourished. Another bonus? This category includes franchise opportunities for B2B and B2C target audiences. Specific examples of these franchise models include cell phone and equipment repairs, outsourced IT services, mobile computer services businesses, electronics sales and services, wireless setup operations, digital marketing agencies, and even broadband Internet access providers. Rapid innovation is driving this growing franchise category with options that appeal to all levels of technical intelligence. While familiarity with technology is certainly welcome, most of these business models do not require a long-term technical career or even previous industry experience. This is where the training and ongoing support of the franchisor comes into play.
How technology is driving progress in the franchising industry
The technology industry is not just a category that is doing well in the franchising industry, as many new operational products and platforms are now serving franchisors and franchisees alike. Franchise brands are always looking for ways to give their franchisees an edge over the competition and are beginning to experiment with the latest innovations designed to revolutionize their business models. Examples include artificial intelligence (AI), digital payment platforms, mobile delivery applications, gamification, and algorithms that drive loyalty programs based on consumer buying habits. Franchisees have even incorporated technology into their sales development pipelines, algorithmically searching for ideal candidate profiles, and implementing automated SMS text messaging programs. At the heart of these efforts is the franchisor’s determination to streamline operations, reduce overhead and maximize profits within its business model.
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Which tech franchises top the current list?
On this year’s Franchise 500 list, the highest-ranked tech business franchise is CPR Handset Repair, at the top of the top 93.rd Overall spot. Another notable franchise is uBreakiFix, which won 203rd point. The brand began franchising in 2009 and has since expanded to include nearly 700 US locations. Even more impressive is the 64.8% increase in award-winning units in the past three years alone. This growth can be attributed to the brand’s reasonably priced initial franchise fees, ranging from $82K to $354K. Several other notable tech business brands were also ranked, including Batteries Plus, TeamLogic IT and Wireless Zone.See the full list of related concepts and see which tech business franchises entrepreneur Required, just follow this link.
related: entrepreneurial Top Tech Franchises of 2022
