Burgers are old and pizzas are yesterday’s news. If you’re looking for a hot new type of franchise business, take a look at franchise coffee shops. Not only are they some of the most on-trend, coffee shops are now among the most profitable franchises to own. Beginning with the specialty coffee shops in the Pacific Northwest 30 years ago, artisan coffee has grown into an integral part of daily life for millions of Americans around the country. That means an entire coffee industry that’s been growing progressively stronger every year, and a franchise opportunity for thousands of potential new business owners.
The Best Franchise to Start in 2017
The growing coffee shop industry included more than 22,000 stores across the country last year. This $22 billion business is still growing, and there’s plenty of room for new players. As their disposable income increases, customers are more willing to spend money on treats such as coffee and snacks. By 2021, it’s estimated that the coffee industry will grow to over $46 billion in annual sales.
An American Way of Life
A recent study by a global marketing intelligence agency showed that, while a majority of coffee drinkers still drank it at home, 94 percent of them also drank it at a coffee shop. These consumers also bought beans at coffee shops to use for home consumption. In sum, specialty coffee shops have changed the way American consumers purchase and drink their coffee. It’s the rare drinker who never sets foot in a coffee shop and who only drinks what they make at home. In the eyes of the American coffee drinker, the coffee shops in Dallas or San Francisco are where they go to get their coffee, either in a mug or in a bag of beans.