We’ve heard about how the pandemic has affected businesses worldwide, and how the past year has been a very difficult year, which forced many businesses to suspend operations or completely shut down in the middle of the year.
However, there are just as many businesses that survived this trying time and most of them are franchise businesses. These businesses have thrived and survived the pandemic. They’re practically pandemic-proof.
One of the reasons franchise businesses survived the lockdowns and the economic impact of the pandemic is because of time-honored business models and systems that support a franchisee.
With a strategic business continuity process in place, a huge percentage of franchised businesses continue to operate despite the challenges in the current climate.
Here’s why this year is the best time to franchise a business and follow the entrepreneurial path:
Self-Employment
Franchising a business offers an opportunity for those who have been furloughed or have lost employment, and have the capacity to start a business. Running a franchise allows one more control of their time and continue to support themselves or provide for their family.
With massive layoffs from the past year and the after-effects of the pandemic, finding new employment won’t be as easy as we knew it. If you have the capacity to start a business, pick a franchise that’s essential and has strong market relevance, no matter what the situation is. For example, franchises that are related to urgent care opportunities will continue to thrive, even in a time like 2020, as the business is related to health care.
This type of business offers a wide range of services designed for wellness and health care. The range of service is what makes a business relevant and essential; as such, you are ensured of income and employment, even in the most challenging times.
Create Opportunities
Aside from gaining your own employment, running a franchise allows you to create opportunities for others, as well. When you open a business, no matter how small you start, you will need a team of people to work with you.
With the rate of unemployment caused by the pandemic, hiring people, no matter how few they may be, is still a way to help others get back on track. You can directly help people and your local community by creating employment opportunities through your business.
Once the business picks up, you’ll need additional people in the workplace. This means more people will get the opportunity to start earning and getting back on their feet again.
Aside from permanent employment, you can also offer part-time employment opportunities to those who need to generate income but are currently unable to devote themselves to full-time employment.
At the same time, when you have more flexibility in your work schedule, you can find time to explore more opportunities to increase your earning potential.
Ability to Reach a Wider Market
2021 cemented the fact that technology is a necessity for any business; not just an option. One of the key reasons franchise businesses survived the past year is because of technology.
Aside from making internal processes and business processes more efficient, technology has helped businesses to widen their market reach. It allowed business owners to offer their products and services beyond their local market, by tapping into the online market.
These days, it’s the consumers that seek out a business online and also do their own research before they make a decision to purchase. The online market is much larger than you think; with the technological equipment provided by franchise companies, you have the ability to establish an online presence and the opportunity to connect with consumers from different locations, domestically and internationally.
Your ability to reach more people through the use of technology makes it possible to scale your business and expand your coverage, come the time you decide to do so.
For those who have always wanted to start a business and have gained enough money and capacity to do so, now is the perfect time to take action and explore the opportunity (and cost) of running a franchise.
With better technology, improved business systems, and strengthened business continuity processes, future plans for business expansion is entirely possible and completely doable.
Running a franchise business presents the perfect opportunity for those who want to become self-employed and be able to have more control over their work and personal schedule.
In conclusion, this year proves to be the right time to franchise a business and get started on your journey to living the kind of life that you’ve always wanted.
