• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Submissions
  • About Us
  • Contact Us
  • Jan 24, 2021
  • Startup
    • Creating a Plan
    • Funding a Startup
    • Franchise Center
    • Getting Your Office Ready
    • Making Your Business Official
    • Marketing Your New Business
    • Personal Readiness
  • Run & Grow
    • Customer Service
    • Human Resources
    • Innovation
    • Legal
    • Operations
    • Risk Management
  • Leadership
    • Best Practices
    • Communication
    • Green Initiatives
    • Open Culture
    • Strategic Planning
    • People Skills
  • Sales & Marketing
    • Advertising and Lead Generation
    • Marketing Innovations
    • Marketing Plans
    • Online Marketing
    • Relationships
    • Sales Activities
  • Finance
    • Budgeting and Personal Finance
    • Payments and Collections
    • Tax and Accounting
    • Pricing Strategy
    • Working with Investors
    • Working with Lenders
  • Tech
    • eCommerce
    • Hardware
    • Software
    • Security
    • Tech Reviews
    • Telecom
  • Shop

SmallBizClub

Helping You Succeed

efile4biz banner
Home / Startup / Franchise Center / Why Franchising Will Thrive in 2021
Why Franchising Will Thrive in 2021

Why Franchising Will Thrive in 2021

190 Views

Jan 6, 2021 By Bill Bradley

Businesswoman sitting at her desk

As the world slowly but surely adjusts to our “new normal,” we at America’s Best Franchises are evaluating the franchising industry landscape. From our vantage point, the outlook seems positive. The franchising industry is experienced and resilient; technology has given us new ways to do business; individual franchisees can build their businesses from home; and we’re expecting an influx of young entrepreneurs to step onto the franchising scene.

Industry Resilience

Franchises are not a new concept and the entire franchise industry has survived many economic recessions. This industry has proved itself to be resilient. In fact, some franchises in the restaurant industry are already back at pre-COVID levels of operations. Other experts have predicted that the next year will see big booms in the franchising industry because of three factors: high levels of unemployment, low interest rates, and ten years between major recessions—which means more people have access to savings. This combination could lead to unprecedented franchise industry growth.

New Ways to Do Business

We’ve all become more dependent on technology due to the pandemic whether it’s Zoom calls with colleagues, FaceTime chats with loved ones or the convenience provided by apps that allow us to remotely order everything we need. Technology has also positioned franchises to thrive in 2021 because upgrading tech wasn’t an option in 2020—it was a necessity.

Even legacy franchise concepts have made huge strides in adopting the technologies that will keep them relevant into 2021 and beyond. When you are considering franchise opportunities, be sure to ask your franchise development representative about the ways their franchises use technology to connect with customers and make operations run smoothly.

You Can Franchise From Home

2020 proved that working from home can be a crucial aspect of running a business. As you consider franchising in 2021, be sure to consider franchise opportunities that allow you to build your business from home. America’s Best Franchises has dozens of home-based franchises for you to choose from. Franchising from home is one way to build your own legacy without fear of stay-at-home orders or statewide shutdowns. Thanks to the possibility of franchising from home, the franchise industry is ready to thrive in 2021 making now a great time to start your entrepreneurial journey.

An Influx of Young Entrepreneurs

The job market is tough right now, thanks to the economic recession caused by the COVID-19 pandemic. With job hunting being so difficult, entrepreneurship has become a more attractive option. Young entrepreneurs can turn to franchising to build their own legacy while still having the support of an established brand. With low interest rates, young entrepreneurs also have a better shot at receiving the funding needed to start a franchise business.

The energy provided by young entrepreneurs will not only boost the entire franchise industry, but it will also provide an influx of new ideas that will help franchisors adapt to the modern consumer landscape.

Filed Under: Franchise Center Tagged With: Franchising

Source: Reprinted with permission of America's Best Franchises

Bill Bradley

Bill Bradley

Bill Bradley is founding member and CEO of America’s Best Franchises, LLC.  Bill founded three financial services firms, Ocean Shores Ventures, Denali International and William Bradley Enterprises. In addition, to launching America’s Best Franchises in 2005, Bill orchestrated approximately 20 private equity transactions in excess of $31 million, and launched five specific purpose private equity partnerships.

Related Posts

  • Everything You Need to Know About Food Franchises
  • What Multi-Brand Franchise Ownership Actually Looks Like
  • 2019 Franchising Trends: The State of Franchising

Primary Sidebar

efile4biz banner

Random

How One Car Wash Uses Text Message Marketing—and How to Do It Better

Aug 4, 2016 By Brian Mikes

Is Your Brand Living Someone Else’s Life?

Aug 15, 2014 By Ed Roach

5 Tips for Working from Home with Kids

Aug 12, 2016 By SmallBizClub Contributor

6 Proven Ways To Get Positive Customer Reviews

Dec 16, 2020 By Jenna Cyprus

1 Important Marketing Update to Know NOW

Jun 12, 2018 By Elaine Fogel

efile4biz banner

Footer

About Us

Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.

  • Facebook
  • LinkedIn
  • RSS
  • Twitter

Copyright © 2021 by Tarkenton Institute, Inc. All Rights Reserved | Terms | Privacy