Want to Run a Hot New Brand? Here Are the 9 Youngest Franchises on the Franchise 500 - Josh Loe

Want to Run a Hot New Brand? Here Are the 9 Youngest Franchises on the Franchise 500


These franchise companies ranked among the best in 2020 despite only franchising for a few years.


4 min read

Opinions expressed by Entrepreneur contributors are their own.


Nine companies in the 2020 Franchise 500 have shown that being a rookie to the game doesn’t mean you can’t play in the big leagues. With only a few years of franchising experience under their belts, these companies went up against the more than 1,100 other franchisors that applied — including many that have been franchising for decades — and managed to claim a spot in our annual ranking.

Scroll down to see which brands are making their mark on the industry.

 

RELATED: The Top 11 Companies in the Franchise 500, Ranked From Cheapest to Most Expensive

Conserva Irrigation

  • Franchise 500 Rank: 296
  • Founded: 2012
  • Franchising since: 2017
  • Initial investment: $81,800 to $102,250

Conserva Irrigation is the newest brand under parent company Outdoor Living Brands, which also franchises Archadeck and Outdoor Lighting Perspectives. Conserva specializes in environmentally conscious lawn irrigation repair, maintenance and upgrades. The company began franchising in 2017 and had more than 80 franchise units open in the U.S. as of last July.

RELATED: Basics of Buying a Franchise Business for Entrepreneurs

Board & Brush Creative Studio

  • Franchise 500 Rank: 381
  • Founded: 2015
  • Franchising since: 2017
  • Initial investment: $62,289 to $89,406

Five years ago, Julie Selby took her neighborhood wine and craft night to a whole new level with the founding of Board & Brush. Franchising since 2017, Board & Brush Creative Studio had already grown to 231 U.S. franchises by mid-2019. Franchises offer DIY workshops where friends and family can create custom wood signs while sipping wine.

RELATED: The Top 100 Franchises for Less Than $150,000 in 2020

Lendio

  • Franchise 500 Rank: 272
  • Founded: 2011
  • Franchising since: 2016
  • Initial investment: $30,150 to $117,100

Lendio is a small-business-loan marketplace founded by Brock Blake and Trent Miskin in 2011. The company began franchising five years later, and despite its youth, this is Lendio’s third consecutive year ranking in the Franchise 500. Franchisees help entrepreneurs complete a single application that is submitted to more than 75 lenders to get the right loan for their needs.

RELATED: The Hottest Franchise Categories of 2020

SmartStyle

  • Franchise 500 Rank: 325
  • Founded: 1996
  • Franchising since: 2016
  • Initial investment: $149,430 to $305,200

SmartStyle is a full-service hair salon brand with more than 500 locations inside of Walmarts across the U.S. and Canada. The business was founded in 1996, but franchises did not become available until 20 years later. Parent company Regis Corporation also franchises Supercuts, Cost Cutters, First Choice Haircutters and Roosters Men’s Grooming Centers.

RELATED: What You Need To Know Before Starting A Franchise Business

My Eyelab

  • Franchise 500 Rank: 343
  • Founded: 2006
  • Franchising since: 2016
  • Initial investment: $407,477 to $585,543

My Eyelab’s 60-plus locations offer eye exams and eyewear sales, with more than 2,000 frames for men, women and children to choose from. The retailer utilizes telehealth technology to provide quick and affordable eye care services to customers and reduce costs and inefficiencies for franchisees.

RELATED: 8 Things You Need to Know to Turn Your Business Into a Franchise

The Camp Transformation Center

  • Franchise 500 Rank: 387
  • Founded: 2010
  • Franchising since: 2016
  • Initial investment: $167,000 to $326,500

In 2010, bodybuilders and personal trainers Dr. Saman Bakhtiar and Alejandra Font made it their mission to reinvent the personal training and gym experience into one that was goal- and group-oriented. On this principle, they founded The Camp Transformation Center, a gym specializing in group bootcamps, community support and educated nutritional guidance. They began franchising in 2016.

RELATED: Expensive Mistakes to Avoid as a New Franchisee

Motto Mortgage

  • Franchise 500 Rank: 395
  • Founded: 2016
  • Franchising since: 2016
  • Initial investment: $47,800 to $68,100

Motto Mortgage is a mortgage brokerage franchise that was founded in 2016 under its parent company — and real estate industry giant — RE/MAX. Motto Mortgage franchises can be added onto existing real estate businesses to create a “one-stop shop” experience for home buyers and refinancers. Motto’s franchisees have already closed more than $1 billion in loan volume.

RELATED: 6 Risk Factors You Need to Consider Before Purchasing a Franchise

Take 5 Oil Change

  • Franchise 500 Rank: 426
  • Founded: 1984
  • Franchising since: 2016
  • Initial investment: $637,004 to $850,488

Take 5 Oil Change has been providing quick oil changes since 1984, but just began franchising in 2016 after being acquired by Driven Brands, franchisor of Meineke, Maaco and Carstar. Each location offers a drive-thr- style oil change service, allowing customers to remain inside their vehicle while Take 5’s staff handle the rest.

RELATED: Travel Agencies Aren’t Dying. They’re Thriving!

Deka Lash

  • Franchise 500 Rank: 470
  • Founded: 2013
  • Franchising since: 2016
  • Initial investment: $179,251 to $426,491

Inspired to make eyelash extension services accessible to a wider range of beauty consumers, Jennifer Blair and her husband, Mike, founded Deka Lash in 2013, and then began franchising in 2016. Franchisees offer lash services through a membership program, and sell related beauty products, at more than 80 locations across the U.S.



Source link