In every industry, experts and analysts make predictions as to what innovations and trends will affect business owners in the coming months, or even years. At the beginning of this year, Entrepreneur magazine forecast that financing would improve, real estate opportunities would increase and opportunities to work with local, state and federal governments would rise. Additionally, new franchise concepts would become popular and offer businesspeople alternate choices.

While many investing in a franchise opportunity will take these into consideration, deciding whether to harness these strategies to boost revenues and expand to new audiences can be much more difficult. Before investing in a trendy innovation or franchise idea, there are a few pros and cons any prospective unit owner should keep in mind.

One of the biggest advantages to implementing new franchise trends is that it allows franchisees to tap in to "a larger movement," the website writes. A franchisee often will not have to do any marketing, as the idea already has a significant amount of hype and momentum accompanying it. Yet, this can have its downsides, such as the franchisee him or herself being swept up in the buzz. To avoid this, franchisees should set reasonable expectations and realize that "just because something is trendy does not mean that it is profitable," Mark Leonard told the magazine.

While some experts may argue that coming into a trend late will allow franchisees or any businesspeople to learn from others' mistakes and be more successful, sometimes establishing yourself as a key player early on will help franchisees stay foremost in consumers' minds, the source noted.

However, be warned: Sometimes getting in early on in the game may not always be the most helpful, as competitors flood the market.

"By definition, if you are investing in a trendy product, you are entering into a high-risk, high-reward environment, so you do not need any other factors increasing your risk profile, like taking chances with an inexperienced management team," Bill Chinn, a multi-unit franchisee, explained to the source.

Lastly, franchisees should consider their customer base. Will consumers embrace this new offering? Does it fit their needs and preferences? While something may work with one group of individuals in one location, it may fall flat with a different demographic. To see success, choices most be consumer-focused.

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