You may be wondering, who would commit to starting a business in the midst of a pandemic and economic volatility?
Our mission at FranNet is to provide you with an uplifting and realistic look at the future of business ownership. By providing you with helpful insights and real-time information, we hope to mitigate any risk or fear when it comes to franchise ownership. It’s important to note that even in the most trying of economic times, there may be situations where you can seize a unique opportunity!
These FranNet clients (many in career transition) are looking beyond the current state of uncertainty and have said “YES” to franchise ownership in July 2020:
1. Health-Focused Cafe
Client Background: A former finance executive in the health and beauty sector.
Why Now? This client spent over 25 years climbing the corporate ladder only to be laid off after the pandemic and economic crisis hit. He wanted to take control of his career and become his own boss!
After a health scare a few months ago, this client’s eyes were opened to healthier eating, which perfectly fell in line with this brand’s mission to provide nutritious food options in the community.
2. Boutique Fitness Club
Client Background: Both clients are full-time practicing medical physicians looking to diversify their portfolio with franchise ownership.
Why Now? They felt they had time to dedicate towards developing a business of their own while maintaining their physician commitments, but would need the help of a simple model and thorough support from a partner franchisor. Their goal was to run a model with low fixed costs, strong ROI, scalability, semi-absentee ownership flexibility, and a great exit strategy for the long term aspect.
3. Quick-Service Restaurant
Client Background: This client profiles as an Achiever/Belonger and has experience in hospitality, having worked with the Ministry of Culture and Tourism in her native country of Iraq.
Why Now? This client wanted the opportunity to diversify her portfolio with a semi-absentee franchise that had a low initial investment. She chose this brand because of their simple business model, strong franchisee validation, and their solid support systems in place.
4. Children’s Swim School
Client Background: A former customer service executive for several high-profile brands based in New York City and San Francisco.
Why Now? This client was at a crossroads in his career and wanted to fulfill his dream of owning my own business, but didn’t want one that required a brick and mortar storefront. This particular brand’s offering piqued his interest since he loves aquatic activities and believes in swimming as a survival skill.
5. In-home Personal Training
Client Background: Operations Executive for an NBA team and a corporate banking executive.
Why Now? The clients were attracted to this brand because their franchisees have been able to remain mostly operational throughout the pandemic and quarantine. With a large influx in demand for in-home exercise, the clients liked that this franchise gave consumers in their community a safe option for working out at home.
6. Childhood Education
Client Background: A successful Financial Advisor in the corporate world, but she was looking for more opportunity and wanting something that she could be proud to own.
Why Now? This client is passionate about making a difference in the lives of children while creating a better quality of life for herself. Her transferable skills translate well to this type of business and franchise model.
7. Home Insulation Services
Client Background: The husband has spent most of his career in banking and leading teams, while the wife had more of a focus on numbers and is a CPA.
Why Now? Over the last 25 years, the husband has worked in various financial roles for fortune 100 companies and would constantly find himself getting bored so he would switch industries. After a brief hiatus, he did some self-reflecting and came to the realization, he did not like working from a desk. He explored business ownership as an opportunity to control his career, income, and time.
He also loved seeing this franchise continue to thrive, even during the COVID pandemic as 100% of locations have been deemed essential business. He saw this as an opportunity to scale the concept and took on two territories!
8. Commercial Cleaning Service
Clients’ Background: This couple is comprised of a former Senior Director of IT for Hewlett Packard and a retired senior Navy officer after 24 years of service.
Why Now? These clients said, “We spent our entire lives working for someone else, building wealth for them. It’s time for us to work hard and reap the benefits. We love this franchise’s model and it checked all of our boxes.”
Their criteria for choosing a business included:
- Setting themselves up for retirement in 5-10 years
- Flexible schedule
- Few employees
- Something they believe in
- Take advantage of the growth occurring throughout their city
- Like commercial services
- Desire to build a community
9. Home Cleaning Services
Client Background: This couple is comprised of two engineers who are heavily involved in their community and church.
Why Now? They loved the entirely green, eco-friendly, and sustainable, science-based cleaning model. The increase in demand since COVID also played a huge factor in this couple’s decision. The other important attributes were that they wanted a business with credibility, sustainability, easy to replicate, and morally acceptable with market potential. This brand checked all those boxes!
10. Home Restoration Services
Client Background: A marketer for many fortune 500 companies and a top real estate agent in the Southeast region of the US.
Why Now? After years and years of the corporate grind, this seasoned marketer decided it was time to retire but wanted another challenge to build a legacy for his family. This couple explored business ownership as an opportunity to control their career, income, and time. They loved the simplicity, scalability, and low start-up cost of this franchise model, but was most impressed with how this brand has thrived during the pandemic.
Let us know when you’d like to have a conversation about the next steps to identify a stable and growing business opportunity that’s right for you. Connect with your local consultant online!