Look Who’s Saying ‘Yes’ to Franchising – April 2020

You may be wondering, who would commit to starting a business in the midst of a pandemic and economic volatility?

These FranNet clients (many in career transition) are looking beyond the current state of uncertainty and have said “YES” to franchise ownership in April 2020:

1. Pool Care Service

Client Background: A banking executive who works for a prominent financial services company

Why Now? These clients did not want to invest in a brick and mortar business. They preferred a service-based business that was simple, scalable, inexpensive, and builds recurring income. In the wake of the COVID-19 virus, they felt confident in this franchisor’s efforts to adapt their standard operating procedures to include safeguarding their customers and technicians across the system.

2. Quick Service Restaurant

Client Background: Community Leader and Coach who had a background in sales and building systems

Why Now? This client was looking for a solid food investment for a new Sports Complex opening Fall 2020. He looked at a few businesses outside of the FranNet process but found this concept to fit his ideal business model.

3. Consignment Boutique

Client Background: Accounting Executive 

Why Now? This client was attracted to the recession-resistant nature of the business and were looking for a business that benefits from the slow economy. Combining that with a model that is simple to run, scalable, with flexible hours and strong systems and support, made this a perfect match. This client was even able to secure a location despite the COVID-19 pandemic.

4. Coin Laundry

Client Background: Executive in the Computer Software industry

Why Now? In the wake of COVID-19, laundry was been deemed an essential service in areas that are under shelter in place orders. But even before the pandemic, this franchise was booming and resonated well with the client because it is a true semi-absentee concept.

5. Home Cleaning

Client Background: Former Medical Director of Pulmonology

Why Now? This client was recently downsized by his company and he wanted to find a business that was recession-resistant with significant growth potential. He felt that this franchisor was an especially great fit due to their eco-friendly practices and the need for improved sanitation with the COVID-19 virus.

6. Pet Grooming

Client Background: Chief Information Technology Officer; 13 years in the Navy

Why Now? This client really wanted a business that allowed them to give back and wanted a business that people will need for a long time. They knew that pet care would always be a need in their community and thought now would be a good time to provide that kind of service.

7. Childhood Education

Client Background: Finance industry professional

Why Now? This client has a passion for education and wanted to make a difference in the lives of children. She knew that the need for tutoring and education services will always be a need – even if it means doing them virtually.

8. Martial Arts Center

Client Background: Technology Solutions Sales to large enterprise clients

Why Now? As the stock market began to sink in early March, this client reduced his plan to purchase 3 locations down to 1 location but was insistent that he had missed great opportunities in prior soft economic markets and wasn’t going to miss again. He was determined to move forward. His definitive goal is to expand to more locations as soon as he can.  

9. Tree & Lawn Service

Client Background: U.S. Army service member who worked in IT, Operations and Engineering

Why Now? This client was let go as the COVID-19 pandemic ramped up. He chose this franchise because it is recession-resistant, has fragmented competition, and the overall scalable nature of the business.

10. Waste Management Service

Client Background: Director of Quality at a multinational company specializing in high-performance engineered materials

Why Now? The client chose this concept because of the niche industry it is in. He also predicts that after this pandemic American corporations will see the urgency to bring back some of the Chinese manufacturing to North America. In order to compete, those in manufacturing will be very open to any cost-saving opportunities. This is just one more reason this concept is a great business no matter the state of the economy.

Shark Tank’s Mark Cuban says now is a great time to be starting a business. Forbes agrees – “10 Reasons to Start a Business in a Down Economy.”

Let us know when you’d like to have a conversation about next steps to identify a stable and growing business opportunity that’s right for you. Connect with your local consultant online or call 1-855-979-7633.

May 4, 2020