We live in one of the most difficult and complicated periods of history the current generation has ever experienced. From health to business, the COVID-19 pandemic has affected nearly every aspect of life. Markets around the world have plunged into recession, rising unemployment rates to record highs. Over 36 million Americans have registered for unemployment since March, representing a frightening 22.4 percent of the country’s labor force.
Many people have turned to more conservative strategies when it comes to their finances, and understandably so. Survival is important, but now more than ever, it is crucial to make smart financial decisions. One of the smartest possible financial decisions you could make is franchise ownership.
Here are the benefits of franchise ownership in 2020:
With over 36 million Americans without jobs, you would be helping the lives of so many people and their families by providing gainful employment. Having a job matters to people, given the state of the economy. You would be flush with talented and skilled applicants who would be eager and thankful to work for you.
While real estate is generally one of the most stable investments you can make in most market conditions, rental rates have recently dropped across the country. This has made property rentals more accessible for smaller businesses with lower budgets to acquire and rent brick-and-mortar establishments for their enterprises.
Competition all across nearly every industry has also slowed down, giving possible franchisees a competitive chance at carving out a piece of the market. Right now, you can set yourself up at just the right time to catch the recovery of the economy. Now is a good time to invest in a franchise, as the costs of nearly everything are at all-time lows.
Given the state of the market, franchisors are more inclined to offer better deals to possible franchisees. You can find that royalties might be waived for the first six months, in addition to heavily discounted rates and more flexible payment programs. You could find yourself needing a smaller initial investment overall.
The internet is now the driving factor of profit. It is no longer a viable tactic to rely on foot traffic for your income. Luckily, one good thing about the pandemic is that it has accelerated the innovation of online business solutions, such as deliveries, booking, and so on. With the right online business strategy in place, you can create a steady following of loyal customers even during the pandemic.
If you are your own employer, then the only way you could possibly end up “unemployed” is if you stop working. One of the most amazing ways you can do this is by franchising. With a franchise, you can set up a steady stream of income that relies on your effort and passion alone.
It might seem like a terrible time in the economy to think about franchising, but the current situation is actually a prime season to get ready. The costs of nearly everything are low. You would be setting yourself up for stability both during the pandemic and the recovery period after, and you would be helping other people and businesses find gainful income during this difficult time.
If you’re looking for a franchise to invest in, send us a message at Optamark. We have fantastic investment opportunities available, with great terms if you’re interested.
We were ranked #198 and #223 on Inc Magazine’s list of “America’s Fastest-Growing Private Companies’ for 2 consecutive years through our 1906% growth rate and haven’t stopped since!
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