When stepping into a new year as we recently have, we often wonder what trends we will see in the year ahead. In franchising – just like in any other sector – trends come and go. Some of those trends however, have the power to change the way we do business. In 2016 we predict a number of trends that will directly impact Canadian franchises.
Here are a few of those trends.
The rise of the entrepreneur
The market downturn that occurred in 2008 reminded us that the economy is an uncertain place and jobs are not as secure as we had been led to believe. Over the last eight years, this has resulted in more and more people striking out on their own to start their own businesses.
For first-time entrepreneurs, franchising is especially attractive because it employs an existing network and a proven system. We believe that the rise of the entrepreneur is by no means complete and that this trend will only grow stronger in 2016.
Digital media and content marketing
The popularity of digital media and social platforms like Twitter and Facebook has caused a shift in the way that companies interact with the public. It’s no longer always those businesses with the biggest advertising budgets that get the best exposure – but more and more it is those companies that make the best use of content marketing that will be able to catch the attention of current and potential customers.
For many Canadian franchisees, this may mean learning a new skillset or employing the services of someone who can help them in this area. Franchisors of course will first have to decide whether it will be more beneficial for digital media strategies to be centralized with the head office or if it makes more sense for local branches to provide local content.
Corporate social responsibility
The world has never been more connected than it is now. No longer can companies focus merely on themselves and on generating profit. It is almost expected these days that businesses engage in a certain level of corporate social responsibility whether it is in their environmental practices, supporting local charities or offering programs for their employees.
While many franchises are already actively engaged in corporate social responsibility, we expect this trend to accelerate in 2016.
More work-life balance
Perhaps in conjunction with corporate social responsibility, many employees of companies are valuing a balanced life over large paychecks. When they seek out employment, they are looking for organizations that can offer other non-financial incentives such as telecommuting and flexible work schedules.
Many companies both within and outside the franchise world are looking at creative ways of attracting and retaining the best talent. Employers are offering everything from gym memberships to hot meals on the job and foosball tables in the staff break rooms.
These are a few of the trends that we see helping to make the Canadian franchising world in 2016 an exciting place to be. We look forward to seeing what the year ahead has to offer.
About FranNet Canada
FranNet is a 27-year-old company with roots in the U.S. Its purpose being to nurture every entrepreneur’s dream of business ownership. We actively employ a specific profiling and consultation method. This method is geared to each investor with a specific business model and based on franchise trends typically found in Toronto, Ontario, Vancouver, British Columbia, or Calgary, Alberta. The most lucrative Canadian franchise opportunities are waiting for you. For more details visit – http://frannet.ca/