We have learnt from historic global events like the 2008 financial meltdown that while many businesses suffer during economic downturn, some still perform well and continue “business as usual”. The Covid-19 pandemic has impacted us all as, while we may not all get the virus, it is taking its toll on our economy. We are already seeing massive temporary business closures and employee layoffs as a result of the need for social distancing to prevent further spread of the virus.
So why is it still “business as usual” for some? Essentially it is because these businesses provide services based on consumer needs rather than consumer wants, so they cannot be “switched off” during hard times. In fact, in some cases their business is elevated. Look at what is happening in the cleaning service industry right now – many of these businesses cannot keep up with the increase in demand.
If you, like me, are thinking about how you can be one of those for whom it is “business as usual” during the next recession or pandemic and avoid the potential of being laid off from your job or having to close down your business, then you should consider looking at getting into a business that is based on consumer needs. Imagine for a moment that you could also start such a business and immediately be part of an established and successful business model along with incredible business support.
Well the reality is you can do this by buying into a successful franchise business, where you can be in business for yourself, but NOT by yourself and where your services are based on consumer needs.
At FranAlign, as your franchise consultant and coach, we represent many franchise companies that provide services based on consumer needs, making them resilient to the effects of a pandemic, economic downturns and recession. A large number these business models are home-based, low investment, high margin businesses with a quick return on investment (ROI). So not only can they continue “business as usual” during times of crisis, they can also be started up during a time of crisis, like the crisis we are having right now.
Home-based franchise businesses continue to grow! Now more than ever, clients are wanting to explore franchise businesses that can be home-based. A home-based franchise tends to be more affordable since you don’t have the expensive real estate build out. Additionally, the home-based options keep increasing.
If you want to explore what industries are available, their requirements, and what it takes to qualify, text or email me and I will be happy to share the opportunities available to you.
