There are a lot of pros to starting a franchise business. Here are some of them:
- While franchising will also be hard work, it takes significantly less work since t’s an opportunity to start something potentially lucrative without having to establish a brand from the ground up.
- Starting a franchise business gives you freedom and independence to run your own small venture with the benefit of being led and supported by a bigger network.
- Research suggests that franchises have more chances of success than independent start-ups.
- Established franchises already have a solid reputation, system, and brand identity, which might make it easier for you to find customers.
But even with these advantages, not all franchise opportunities are created equal. If you’re looking to become a franchisee during this pandemic and recession, here are some industries that have a high chance of surviving the COVID-19 crisis:
Since food is an essential service and something that everyone needs and people will pay for regardless of the state of the economy, getting into the fast-food business might be a smart move. The past year has shown that when people are forced to stay home, they will still find ways to consume their favorite casual and takeout food.
The pandemic has also shown that in the absence of open restaurants and dine-in options, delivery apps and platforms will continue to improve their services and more consumers will look towards technology. So even if lockdowns are mandated or if you have to accept customers at a limited capacity, as long as you partner with delivery platforms, you will always find customers. Some franchise restaurants also found creative but safe ways to serve more customers, such as makeshift drive-throughs or the addition of outdoor seating. Just make sure that your local ordinances permit it.
Another industry that will always survive recessions or pandemics is education franchises, especially as remote learning takes its toll on parents and children. Many education franchises remain open even during the pandemic, and while they are not considered daycare, their setting can be similar. This is good news because it has been noted that there are very low infection rates in daycare centers.
If you have a background in education and if you have a passion for unlocking the potential of the members of the next generation, an early childhood education franchise might be for you. Look for a franchise that reflects your values, such as those that use a research-backed curriculum and have a passion for helping kids reach their full potential. Not only is it a potentially lucrative investment, but you will also help shape the future of our nation.
Since the elderly members of our community are considered high-risk and extremely vulnerable during the pandemic, there will continue to be an uptick in the demand for more elderly care providers. This is because families might not always be able to ensure that their homes are a safe place for the senior members of their families, and they might be more inclined to look for a healthier and more secure option for their elderly loved ones.
If you have the heart to help the senior members of your community, consider exploring senior care franchises. It’s a worthwhile way to invest your time and build a career out of, especially since you will be a big part of making life easier and more fun for your future senior clients. There is nothing more rewarding than being someone who provides dignity and joy to people who are in the twilight of their lives.
Another industry that will continue to thrive in the time of a global pandemic is professional cleaning services. The COVID-19 crisis, by nature, has certainly aggravated the germaphobia, agoraphobia, anxiety, paranoia, fear, and worry of people who were already mentally vulnerable to these things, and will continue to do so as long as the virus rages on.
If you have a knack for cleaning and disinfecting, and if you love to give people a sense of peace knowing that their homes are clean, consider getting into the professional cleaning service business. Another option is hauling or junk removal, which is an opportunity to help households take this specific task off their list of things to do.
The prospect of starting a business during a pandemic and a recession may seem daunting, but some opportunities are smarter than others. If you do the research and crunch the numbers, and if you go with something that you’re passionate about, your franchise business might just take off despite overwhelming odds.