At the end of 2019, very few people had ever heard of a virus called COVID-19. A year later, it had changed the entire world.
To date in the United States, 40 million people contracted the virus. Shutdowns occurred across the nation, and businesses suffered in the wake. Many of those businesses never re-opened, and tens of thousands have been left unemployed, searching for career options.
In a time when job security is at a low, franchising is one opportunity that many of these people can turn to.
Why is owning a franchised business a great idea in a post-pandemic world? More than any other business model available, franchising offers characteristics that allow success through almost any economic climate.
Ease of Opening
Once you choose the franchise of your dreams, the road for purchasing the business is laid out. There is no guessing what you should do next. You know the fees upfront, as well as every step needed.
Low Interest Rates
Right now, interest rates are very attractive, and the Fed has pledged to keep them that way until 2023. Why is this important? In most cases when buying a franchise, you’ll need to acquire a business loan to pay franchise fees and other costs involved in your new endeavor.
If you start a business from scratch, you are, in most cases, on your own. You must weather every “storm” without help or support.
When you invest in a franchised business, you are never alone. The Franchisor gives you full pre-opening and post-launch support. They have systems in place that every one of their franchisees follow to help ensure the best outcomes possible in every scenario.
While some may view these processes as “restrictive”, they are meant to protect the brand, and keep your business on track. After all, your success is the Franchisor’s success.
And speaking of success…
Franchises Have a Track Record of Success
When nearly 50% of independent businesses fail after five years, wouldn’t it be nice to have the full training and ongoing support of a Franchisor?
The Franchisor essentially hands you the map to create a viable and profitable business through the systems and processes that you will follow before and after your franchised business opens.
In a (nearly) post-pandemic world where employment is day-to-day, and we’ve learned that the future is impossible to predict, franchising offers a tempting career option. Being your own boss and running your own business has never seemed more attractive and owning a franchised business has never been more accessible.
Franchise Matchmakers is a team of franchising professionals that are dedicated to helping people explore business ownership as a career path. Contact them at firstname.lastname@example.org to find out more about franchising options that are perfect for you.