The covid-19 pandemic has had major implications on our everyday lives as well as the economy at large. Many businesses have faced enormous challenges during these unprecedented times. As a potential franchise investor, you might be thinking that now is not the time to embark on your entrepreneurial dreams.
However, not all businesses have been negatively impacted by the pandemic! Some brands/industries have not only survived, but thrived in the recent economic landscape. Now might just be the perfect opportunity for you to capitalize on the current market if you choose your franchise wisely.
Today, we’re taking a look at 5 attributes shared by brands who have thrived during the pandemic. Let’s get started!
1) They are considered an essential business and have been allowed to remain open
Non-essential businesses such as retail stores, restaurants, and fitness centers have all endured some tough times during this pandemic. On the other hand, essential businesses such as animal daycares, home care services, and moving companies have actually done extremely well.
Choosing to invest in a franchise that is considered an essential business protects you from situations such as this pandemic and will help minimize any anxiety about your investment!
2) They are in Amazon-proof sectors
The pandemic has seemed to play right into the hands of digitally-operated retail giants like Amazon while making life extremely difficult for small businesses. Fortunately, the franchises we’ll be discussing in our next webinar are in highly-specialized service-based industries that cannot be replicated by the likes of Amazon.
Until Amazon comes out with doggy daycares and junk-removal services (which probably won’t happen), you can be confident in these brands having a sustained place in the economy/market.
3) They are technology-proof (cannot be replaced by technology)
“Automation is coming for your job” is a common belief these days, and there is definitely some truth in this statement in various industries. As technology advances, many companies will need decreasing amounts of employees to oversee software/machinery that performs tasks once done by humans.
One of the best attributes of these brands that thrived during the pandemic, is that they provide services that must be completed by humans. These brands use technology to assist their daily operations, but they require human oversight/expertise in order to complete the job.
4) They provide desired & needed services
There are some services that will always be high in demand, and this week’s featured franchises are all perfect examples! Several of these brands are in the home improvement/moving space which has actually seen a huge uptick in recent demand.
The pandemic has provided time for many people to reconsider their housing/location arrangement, and that has created an increased demand for the services provided by these franchises!
5) They are recession-resistant
Recessions tend to minimize the amount of money people are willing to spend on their wants, while the amount spent on their needs remains about the same. Thankfully, this week’s investment opportunities all fulfill consumer/business needs that won’t disappear in a recession.
Set yourself up for success by investing in companies that do well in recessions and even better when the economy is booming!
Conclusion:
After learning about all of these benefits, do you think that investing in a franchise that has thrived during the pandemic might be the perfect way for you to achieve your entrepreneurial dreams? If so, you’ll definitely want to join our webinar this weekend which will be showcasing 5 pandemic-resistant franchises that you can invest in!
Each company will feature a 5-minute overview presented directly by the franchise themselves. We’ll see you there!