“Sustainability” in the sense of environmental responsibility has been a buzzword in business long enough that it can fairly be called a trend rather than a fad. Consumers are increasingly concerned about the environment and increasingly willing to pay more for eco-friendly goods and services.
It’s a great time to invest in a green franchise.
Franchises that focus on green business practices are on the ground floor to reap the benefits of changes in laws and regulations as they happen. For instance ProEnergy Consultants is an energy audit businesses that helps customers know where and how their home is leaking energy and what they can do to improve their energy consumption. Many municipalities are changing laws to require home energy audits during the sale of the home, and even requiring homes to meet certain energy consumption maximums to reduce the home’s burden on resources. ProEnergy franchisees who start off in areas that don’t yet have these laws in place can establish themselves and build a relationship with their territory before the laws are passed, and have the advantage when other energy audit companies start flooding the market.
Green franchises may also have unique business models that allow for more income streams than other franchises. Filta franchisees reclaim used frying and cooking oil from businesses, who are more than happy to pay for services to take away used oil and prevent liability and health issues. In most states, restaurants are required to dispose of oil properly, giving Filta franchisee an existing market to start their business. But after the oil is reclaimed, Filta franchisees aren’t stuck with having to find a way to get rid of the oil; instead they sell it to biofuel producers after cleaning. Filta franchisees can rely on a second revenue stream to make even bigger profits than if they were just an oil disposal franchise. Filta isn’t the only franchise that uses this business model, since reduce, reuse and recycle is the motto of green franchising. Rapid Recovery franchises also use the same approach for their refrigerant recovery programs. Their program meets EPA standards, giving instant credibility to new franchisees.
Solar Soleil and USA Insulation franchises both specialize in providing services to homeowners looking for energy savings on electric bills. Emerging technologies are now making it possible to go green and save money at the same time, providing many green franchises with markets outside of the tree-hugging community. In fact, green consumer service jobs are expected to grow faster than any other industry and have already grown faster since 2000 than non-green customer services, according to Think Progress. The opportunities are great for those who want to open franchises in the green industry.
As the examples show, green franchises can run the gamut, with opportunities in both B2B and B2C spaces and in a number of verticals. There are also plenty of franchises that don’t focus specifically on environmental issues but which do pride themselves on their eco-friendly practices. If you care about the environment, investing in an environmentally responsible franchise is a great way to put your money where your mouth is — and make money, too.