For many people, buying a franchise means joining a brand that's been around for decades. But if you're more interested in getting in on the ground floor of the latest thing, there's plenty of opportunity in the franchise world for you too. In fact, almost a quarter of the companies that applied for this year's Franchise 500 ranking have been franchising for five years or less. And you'll find the top 150 of those new and emerging franchises here.

This ranking of companies that started franchising in 2020 or later is based on the same data and same formula that we used to determine our 2025 Franchise 500 ranking. That formula evaluates and scores franchise brands based on more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability.

If you're interested in checking out the hottest new franchise concepts, this list is a great jumping-off point, but it should not be taken as a recommendation of any particular franchise. New and emerging franchises like these can offer some great advantages for the right franchisee — but figuring out if that's you requires doing your own careful research. Always read the company's legal documents, consult with an attorney and an accountant, and talk to other franchisees before investing.

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