Franchise Opportunities: In a time of global change – when the normal of all has been flipped, turned, adjusted, and made almost unrecognizable – it can be difficult to know what to grasp about. You want (and need) to protect your mark as a business owner. But from behind the scenes how does that look? How do you know what moves that business to make and how to protect it? We’re all learning as we go, after all; this unprecedented shift to modern life. Nobody is prepared as a franchisor and advice is a situation type of guess and check. There is no previous experience from which to call and look to. This makes franchise consultancy quite important.
As franchisees, however, we can also look at how each industry weathered this storm and use that feedback for the best moves forward.
Franchise Opportunities – Industries which grew during COVID-19
One of the pandemic’s greatest takeaways is looking at which industries thrive aka leading franchise opportunities. Furthermore, what new franchise opportunity is out there now. Grocery stores, health care facilities, vehicle repair shops, outdoor home services (pest control, lawn care), and more, all witnessed incredible business upswings. Some of this is due to customer needs, and with others, it’s because customers have time to schedule vehicle or home care services.
You can look at who’s thriving in either scenario and why. Use this insight with our franchise to alter what you are serving or providing. Or, remember what industries are still drawing in funds in a time of need when you open a future franchise location. Franchising consultancy is also a valid option. But finding franchising consultants is not always easy.
This is excellent research material that can help you select a successful brand and adjust your franchise to need-based growth potential. Follow trends, keep track of industry data, and stay up-to-date with business news for the best info on how to help your franchise grow.
What brands are finding success?
Apart from obvious franchises, which are 1) classified as essential and 2) fulfilling a need, there are brands that have grown by adapting to the status quo themselves. This can best be seen in restaurants that provided an incentive for eaters to order their food (such as a discount or free delivery), as well as those that have adapted to create delivery at the curbside. Yes, restaurants have also opted for pickup only, allowing customers to enter the lobby one or two at a time-but this isolates customers who don’t feel comfortable entering, who don’t want to bring their children inside, etc. Even the subtlest differences, through the pandemic, allowed franchise locations to draw in more funds.
Delivery options have been expanded enormously, with heavy safety measures in place. These include no contact drop-offs, online tipping, or box deliveries where customers take from a single box their items.
Other franchises have still created orders online or pick-up the same day. This is also a safer alternative for employees who still have a purpose in order fulfillment but who are kept at a distance from more of the population. This applies to retail outlets, parts stores, pet shops, grocery chains, and more.
Home improvement stores such as Lowe’s, meanwhile, have limited how many customers can enter their store at a time. This includes separate entrances for entrances to the main and garden; meaning a shopper could potentially stand in two lines. Patrons are reminded to wear masks while waiting to enter and stand at a distance of six feet from each other. Shoppers can still order online, however, ordering complete paint kits that will be delivered.
Something as simple as signage which reminds us of safe practices has also helped franchises to thrive. Although it may sound fairly simple, it is an easy way to keep customers feeling safe. That security alone suffices to keep them back for more, even in a time of global chaos.
Capitalize on times changing with your franchise
There is no denying that, in recent weeks, business owners have had to become creative. It is the way they choose to do so, though, that makes all the difference. Even non-essential companies have found ways to draw in dollars and ways that do not conflict with social distance guidelines by protecting their shoppers and employees and finding safer ways to still provide services.
Be sure to follow these changing trends and incorporate them into your business ideals to help your franchise thrive through the pandemic – and into the future.