Our industry is a resilient one—because franchising remains an on-brand choice in any economic climate. In times of business growth, which the U.S. undoubtedly experienced pre-Covid, the fear of missing out on a booming economy produced a surge in franchising interest. Conversely, when times are more c
hallenging, downsizing and instability continue to drive demand for franchise ownership. In this edition of our “Thriving through Covid” series, we’re going to explore a few industries who’ve maintained their recession-resistant reputations. Presented for your review, the top industries to franchise right now…
As we’re all well aware, a key factor in defeating Coronavirus is the cleaning and sanitizing of the areas where we work and reside. And residential and commercial cleaning franchises are reaping the benefits. The level and frequency of disinfecting our environment have now become a necessity and it’s allowing this franchise sector to clean up—literally.
As the pandemic spread, unemployment plunged from 3.5% to double-digit losses within one quarter. Downsizing, layoffs, and business disruption left over 30 million Americans seeking alternate employment. Many individuals are desperate to line up a quick alternative. At the same time, businesses began outsourcing recruitment to shore up costs. At the center are staffing agencies that are designed to help both sides find a fit.
While restaurants and bars have had to shutter a percentage of in-person dining, demand for curbside pickup and contactless delivery continued unabated. In some cases, it even increased. Food franchises offering quick meals at a convenient price have maintained their value proposition among consumers.
Repair-based franchises that serve the residential market will always be recession-resistant. When the fridge breaks, consumers need an immediate fix. But it also turns out that more time at home has spiked demand for home renovation and remodeling. Fueled by cash not spent on fancy vacations is producing rapid growth for this franchise sector—with no signs of slowing down.
The demand for senior care businesses was quite steady before the Covid-era began, but opportunities in the franchising sector are only expected to increase. The quest to help families find a qualified and trusted senior care partner for their loved ones has become an even more important consideration that isn’t expected to go away anytime soon.
The five examples above are but a few of the industries driving franchise demand. The uncertain economic climate, coupled with an increasing number of individuals willing to consider a career transition, has created a fertile environment for franchise consulting. The interest in finding a sustainable business ownership opportunity in this new normal of times is on the rise. And FranNet is there to help guide you through the process. A no-cost, no-obligation appointment is all you need to get started. Navigating your way to business ownership through franchising is our one and only specialty. And we know the top industries where you should be looking.
“Thriving through Covid” is FranNet’s new series of inspirational articles featuring positive news, business owner profiles, success stories, and educational updates—all of which demonstrate the resilience of the franchising industry. We want you to know that even during this uncertain time, franchising can offer you an alternative path forward—and a new opportunity to achieve success through business ownership.
Check back with FranNet twice weekly for new articles and let us know when you’d like to begin an entrepreneurial journey of your own!