In January 2020, the United States and the rest of the world were enjoying an economic breeze. Industries are flourishing. Startups are popping everywhere. The technology is on the cusp of more discoveries. Even the unemployment rate in the country is at a low 3.5%. And then, the coronavirus hit us. Millions of people worldwide had to stay at home, stop working, and watch the stock market crash and burn.
Still, with the new normal now set in place in most countries, people are beginning to look for opportunities to improve their income. Those with money to spare get into a franchise business. It’s a great way to dip your toes in the industry of your liking because, with a franchise, you only have to follow the guidelines and system set by the franchiser.
Surprisingly, there are many success stories among franchise businesses, even during the height of the outbreak. These businesses are recession-proof. They survived the coronavirus pandemic, and they will survive the recession that many countries are experiencing right now. These franchise businesses are also designed to thrive in future pandemics and recessions.
During the height of the pandemic, people were trying to stay away from public places like grocery stores, malls, restaurants, and hardware. When they do have to buy something, they usually run to the nearest convenience store. One of the most popular franchises, of course, is 7-Eleven. It hired extensively even during the pandemic, and with 71,000 stores worldwide, that’s no small feat. The company partnered with delivery services to bring products straight to their customers’ doors.
People began working on home improvement projects ranging from changing their kitchen tiles to renovating their basements and attics. That’s why hardware stores had a surge in sales during this time. For example, Ace Hardware saw a renewed interest from franchisees who were previously attracted to coffeehouses, boba tea shops, and food cart businesses.
The pandemic forced people to look at how they clean and maintain their homes and even their places of business. That’s why a commercial cleaning services franchise is one of the most profitable business to get into today. They’re even adding to their list of services. They are now providing sanitation and air purifying services together with their deep-cleaning services.
As kids stay at home and learn virtually, parents need all the help they can get from tutorial centers. These learning centers offer private tutoring in a variety of subjects and topics. Many of these cater to kindergarten to grade-schoolers. Some of them also offer classes beyond the ones in the academic track. Parents want to help their kids not to lose interest in school. They depend on tutorial centers to get their kids involved in a variety of learning activities.
Fast-food chains gained during the pandemic. While many stores have to close down initially, many were able to get back on their feet. They popularized delivery services. They thrive in it. And during the pandemic, many households depended on food delivery services when they want to feel a semblance of a life outside their homes. Popular fried chicken fast-food chain Popeyes reported an increase of about 25% to its already 3,000 locations worldwide.
Health Care Services
The pandemic caused many families to take a look at their health plans. Now more than ever, it is important for them to boost their immune systems and make sure they are not susceptible to falling ill. Even employers are starting to provide better health insurance policies for their employees because of the pandemic.
Sure, a lot of businesses had to close down because of the coronavirus. But when they opened, they needed to print many signs about social distancing, hand washing, and mask-wearing as reminders for their customers. They also had to print their new business hours. And it’s not only businesses that want these signs. Even residential homes want decals on their doors, windows, and walls to remind guests of the house’s minimum health safety protocols.
There are plenty of opportunities right now for people who want to own franchises. However, the trick is to find the right business that will survive today’s pandemic and future ones. Clearly, most food and service-based businesses that had to do something about bringing convenience to customers are the ones that survived and thrived. Look into these kinds of businesses. Their setups, systems, and designs will survive a pandemic and recession.