Franchising is full of decades-old brands that have proven themselves—so why would someone consider buying a franchise from a brand-new franchisor instead? There are many reasons: Although newer franchise concepts may come with higher risk, you can usually have more influence over how the brand develops, you may get in at a lower price than future franchisees will, and you have more available territories to choose from. If that sounds appealing, there are plenty of new franchise brands to consider: An estimated 300 companies begin franchising every year, and of the 1,389 franchisors that applied for our 2024 Franchise 500 ranking, nearly 17% had started franchising in the past five years.
So which are the strongest new and emerging franchise concepts? That’s what we assessed in this ranking, which is based on the scores that these companies received during the Franchise 500 evaluation process. We looked at more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability. Only brands that started franchising in 2019 or later were considered.
Getting in on the ground floor with the next hot concept can be an exciting prospect, but keep in mind that this list is not intended as an endorsement of any particular franchise, rather just as a starting point for your own research. Before investing in any franchise, make sure you carefully read the company’s legal documents, consult with an attorney and an accountant, and talk to existing franchisees.
WE ASKED TOP NEW AND EMERGING FRANCHISORS/
Why did you choose to franchise your business?
THREE ANSWERS/
“Franchising was a great way to scale our business quickly. We knew we were onto something with the amazing success of our corporate stores and wanted to spread it nationwide as quickly as possible. Franchising was the clear path for our business model.”
—JUSTIN CROWELL, cofounder, QC Kinetix (No. 9)
“I built this concept to be franchised from the start. I had always loved the franchise model and knew that I wanted to connect with individuals who had that entrepreneurial spark. In addition, the consistency and high
