5 Franchises You Want to Invest In
The secret to The Dwyer Group's success, Dina Dwyer says, is in its ability to centralize each company's infrastructure, such as accounting, IT, marketing and legal, to support multiple brands without adding a lot of overhead or personnel.
Segreto likes that there are many opportunities for a franchisee to expand, both within geographic markets and with other services under The Dwyer Group umbrella. "It gives people a lot of different opportunities," he says.
He also points out that the company's code of ethics is strong.
"You have a lot of two-income families. They need something local in the market. They want one source they can turn to," he says. "The wrapping of the brands, their processes and values of cleanliness and communication with customers ... consumers are clamoring for that type of customer experience."
2. BrightStar Care
BrightStar Care provides in-home adult and elder care staffing service as well as child care and medical staffing services for individuals, families and healthcare facilities, the company says.
J.D. and Shelly Sun founded BrightStar in 2002 after their own poor experience with caregivers. The company started franchising in 2005 and became the first franchised company in the U.S. to specialize in both medical and nonmedical care and healthcare staffing. BrightStar expects to have 300 locations by the end of 2012.
The company is looking to move toward becoming a multi-brand franchisor. In the next few years, the company plans to add at least five brands that complement BrightStar Care's mission of making more possible, according to the website.
BrightStar has received lots of press, most notably on Undercover Boss. Shelly Sun is very active in the franchise industry (she is on the board of directors of the International Franchise Association) and speaks publicly about her experiences in franchising and how to be a successful business owner.
"It comes back to the values and the vision of the organization," Olson says, "and so when somebody's looking at an organization if it's in the area of senior care, BrightStar is definitely one to look at."
As baby boomers begin to retire and seniors are living well into their 80s and 90s, there is strong demand for services that can help keep elders in their homes for as long as possible.