Retail Franchises

The retail industry is easy to define at the highest level - it is the selling of consumer goods or services to the end buyer. However the enormous size of the industry and the breadth of the types of goods and services that are being sold are a little harder to guesstimate - it’s estimated that 2/3rd of the U.S GDP comes from the retail industry! And while trends may wax and wane and changing economic circumstances will drive profitability, we live in a consumer society and people keep on buying. The interested entrepreneur with a discerning eye can find incredible opportunity in the retail industry. Consumer goods are any tangible product sold to a buyer. Typically products are divided between durable and nondurable goods. Durable goods consist of things that last a long time and don’t need to be consumed immediately. Examples include electronics, books, appliances, jewelry, and toys. Nondurable goods typically need to be consumed immediately or within 3 years. Examples include food, medicine, clothing, beer and paper goods. Consumer services generally support the production and selling of consumer goods – manufacturing, marketing, selling, and post-sale support, for example. Until relatively recently retail franchises and stores have been found primarily on the street - neighborhood stores, warehouse stores, variety stores, and convenience stores, to name a few. Whether in malls or big-box outlets or even vending machines, consumer goods were typically purchased on site with some sort of in-person shopping experience. And to be fair, the retail industry is still dominated by brick-and-mortar stores. Increasingly, though, e-commerce is gaining market share. While Amazon is reported to own 26% of all internet retail sales, most retail operations are developing an online presence, and many are going far beyond that. Smart retailers are working to integrate their online and physical shopping experience, making it seamless for consumers to shop however they’re most comfortable. The increasing strength of online sales is a major driver in the retail industry. Retailers that have only online sales or an efficient physical and online sales process can keep overhead costs low and are poised to continue to gain. In the brick-and-mortar retail stores, mobile payment options are becoming increasingly important to younger shoppers, as are in-store mobile devices such as mounted iPads helping consumers find what they’re looking for. Above all, retailers are focusing on a frictionless shopping experience – whether it’s ordering online and picking up in store, easy payment options, a top-notch customer service experience or any number of other strategies. Now is the time to cash in and capitalize on a strong economy. There are numerous retail franchise opportunities in the retail industry. Search our extensive list and find your niche on Franchise Clique.