The future of franchising isn’t clear right now because of the global pandemic that has caused havoc to economies all over the world. There are a few trends that have popped up sense the pandemic started. Here are a few for you know.
1. Surge of Quality Candidate
The reason for a surge in quality candidates is probably because of people looking for opportunities for investment during this time or people that are higher capabilities have lost jobs and looking for something else to do. In any case there are lots of inquiries globally into franchises.
2. Opening of Prime Real Estate
Since many businesses have gone over since the start of the pandemic real estate that was harder to get is now available. It’s not only available but it's becoming cheaper. This means that there are opportunities now to get into franchising.
3. Due Diligence is Happening Online
People are taking the time right now during the pandemic to do due diligence on if they want to get into franchising. Getting a franchise takes time and they are trying to use their time wisely. A lot of the due diligence is happening online.
4. Franchises that Have Contactless Service
A popular trend is people seeking contactless service franchises. As the pandemic continues in most countries around the world, it’s important to run a business that can still operate under these difficult circumstances.
For more thoughts on how the Franchise sector is changing, please click the link below.
Source: qsrmagazine.com