Franchising in 2021: What Industries are Great to Invest in Right Now?
While the world has been trying to adapt to a “new normal”, many industries have pivoted to rely heavily on technology to ensure continuity of their business. As a result, millions of employees are now working from home, using services such as Zoom, online delivery such as Uber Eats and DoorDash, and e-commerce. This has helped some industries thrive, enabling entrepreneurs to start or continue managing and growing their business from their home.
Franchising in 2021 and Beyond
According to the Buyer Sentiment survey conducted in March 2020, over 55% of aspiring franchise owners agree that “now is a good time” to start a business. So, let’s take a look at some of the best franchise investment opportunities for 2021 and beyond.
Unique Franchise Opportunities for 2021
It’s encouraging to know that businesses are still growing despite COVID-19 restrictions. However, knowing the right options to invest in can help guarantee your business’s success.
Here are some ideal franchise opportunities for 2021:
• The UPS Store
We’re sure you’re one of many people who have recently relied on online shopping. Whether it’s to order groceries, new clothes, or just household items, e-commerce and online shopping have thrived during this pandemic.
According to the Statista Research Department, “Over 20 percent of Americans stated that their frequency of purchasing goods online increased in March 2020, and even those who had never used e-commerce services in the past felt motivated to do so in the wake of the crisis.”
With the growth of e-commerce and the flexibility to easily adapt to a customer’s needs, UPS is an ideal franchise opportunity for 2021.
• Tread Connection:
Another great franchising opportunity in 2021, is Tread Connection. A leader in the mobile wheel and tire services, Tread connection offers an unmatched service for customers in the automotive industry.
Instead of losing a day of work at the tire shop and interrupting your daily activities, Tread Connection will deliver and install your tire at any location.
The convenience of this service as well as the growing need for it, makes this franchise a great investment opportunity in 2021.
• Drive Kindness:
With the current pandemic restrictions and restaurants being closed until further notice, the food industry has no choice but to partner with delivery apps. In fact, the Covid-19 delivery boom proves this point. The top 4 food-delivery apps (DoorDash, UberEats, Postmates and GrubHub) saw revenue rise $3 billion collectively in the second and third quarters due to COVID-19 restrictions.
Drive Kindness is the perfect franchise to invest in, since customers nowadays want safety and convenience.
Take a look at how much it costs to invest in these hot franchises, and consider doing research to help find a franchise that works for you.
If you’re wondering how to open a franchise, My Franchise CPAs has got you covered. Our team will help guide you through the steps of becoming a franchise owner and will make sure you’re on the right track.
Essential Service Franchises
Seth Lederman states in this article from the Franchise Journal that “due to having time at home, a lot of people have focused on things like remodeling and home improvement. Franchises focused on home needs like HVAC, landscaping, tree trimming and essential businesses that are recession-proof are not only holding their own, some are soaring in the face of the COVID adversity.”
Here are some essential service franchise you should consider investing in this year:
• The Grounds Guys
This is a great business opportunity in a familiar and stable industry. A leader in the landscaping industry, The Grounds Guys provides both commercial and residential landscaping services.
Landscaping will always be an essential service, whether you’re a home, or business owner. It is important to consider this franchise as an investment opportunity.
• Nurse Next Door
Nurse Next Door is one of North America’s fastest growing home care franchise systems and provides both medical and non-medical care to seniors. This type of business is in high demand and will continue to grow. It is safer and more convenient to choose Nurse Next Door when in need of medical help for seniors, especially during this pandemic.
• Aire Serv
With more people working and spending time at home, it is important to keep their HVAC system running smoothly. From air duct cleaning to heater repair and air conditioning replacement, Aire Serv provides both commercial and residential services. And the best part is that they provide a 24/7 service for their customers.
Franchising in the Future
If you thought that franchising is dead in 2021, you thought wrong. While the pandemic has definitely impacted all industries, some of them have proven to be resilient and have adapted to new technology. Businesses found no other option but to cope and to learn new ways to grow.
If you’re considering franchising in 2021, it is wise to do so in an industry that is thriving regardless of all challenges and limitations caused by COVID. It is better to invest in a business that is convenient or in high demand, as well as essential service franchises.
People will always be in need of essential businesses (like landscaping, health, auto repair, HVAC). Which is why they are a better investment opportunity than more risky franchises.
If you’re ready to become a franchise owner, My Franchise CPAs is here for you. Our team is dedicated to helping you own and run a successful business. Reach out to us today and let’s discuss the next steps for your future.
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