The whole world has changed how it behaves this past year. We’ve had to physically distance ourselves and curtain social interactions. I haven’t seen my daughter for almost two years, and it is only the promise of vaccines that makes us hopeful about a reunion this fall.
Businesses have felt the impact, too, of course. Some, like those in the entertainment industry, have changed the way we view plays and concerts, and it will be a while before we are holding our glowing phones at a sold-out live show.
We have discovered ways to speed up FDA approvals, and technological advances were amazingly swift to support work-from-home and educational needs. Nothing was completely smooth or perfect before, and last year brought permanent shifts in business operations―many of them are guiding change in the year ahead for franchises.
Home Castles Need Princely Investments.
Franchise opportunities in home remodeling and improvements have already seen a boom because more people were stuck at home. Work-from-home options will become permanent for many, making a home services franchise an attractive option. Building a real office, installing energy-efficient solar, and enhancing outdoor spaces will continue long-term as many companies choose to eliminate or limit office use.
Education Assistance Will Be in Demand.
At-home schooling has been a challenge on all fronts. Nearly 3 million students received little to no education services for a whole year. Once schools are fully reopened, the learning gaps will be glaring, and the demand for assistance will soar. From learning centers to extra-curricular interaction, franchises catering to children’s needs are a good bet for future franchisees.
Contactless Services Seem Safe.
The virulent flu has changed the meaning of “stranger danger.” We ardently avoided having people in our homes, and we could not go into certain businesses. Yet, many franchises operated with little or no in-person interaction. Most home-based franchises limit contact, and skilled services like computer repair or vending machine franchises require very little people-to-people time.
Being Essential is an Advantage.
In the old days, we never seriously thought that we’d be forced to close our doors, but health orders and government influence unduly affected non-essential businesses. On the bright side, franchises whose brands support life and economic needs thrived. Mailing and courier services, computer assistance, senior assistance, food, emergency repair skills, pet and child care are all in demand and needed. We must communicate (via technology), we must eat and repair leaky faucets, and our fur babies (and real babies) need care. Franchises that offer essential services saw gains this past year, and they will be a future force, too.
Food Can Do Well, Too.
While the restaurant industry had severe economic pains, drive-through service and delivery services exploded. Even high-end dining rooms discovered the greater profit of take-out and delivery services. If food is your passion, this past year’s difficulties suggest that food franchises need various delivery systems as an essential service to weather the storm of limited operations.
Franchises succeed because they have proven brands and methods. During the pandemic, franchises that offered safe and essential services thrived. This year’s new, successful franchises will be those that continue to maneuver deftly through pandemic limitations and focus on essential services.
Source: Franchise Direct