What types of franchise franchise businesses are able to thrive in pandemics? We look at 6 options.
Commercial Cleaning franchises. Companies that are offering sanitizing services have seen a huge increase in business, and that trend is likely to continue. We don’t know if and when a vaccine might be available so medical facilities, offices, all need enhanced cleaning and sanitizing services. Post Covid, cleaning is always an essential service, regardless of the economy. Total Investment for a cleaning franchise ranges between $60-$120,000, and owners should have executive or business experience as you are not cleaning, but hiring teams and landing contracts.
Automotive repair. It is no secret that in recessions or depressions, people don’t buy new cars. They fix their old cars. Any type of franchise that provides automotive repair services will be well positioned to benefit from this trend. You can start a new automotive franchise from the low $200,000 and up, and we have dozens of resale garages available across the nation as low as $50,000. Note the low priced resales are usually financially distressed so owners should be willing to work hard to turn things around. Contact us for details on our current resales. There are also specialty franchises like mobile oil changes, or tire changing services available as low as $100,000
Cost reduction franchises. In tough economic times companies need to cut costs. Cost reduction consulting type franchises are very unique, most people haven’t heard of them, and historically have been quite profitable. Owners are trained to identify over payments companies are making and streamline those cost centers. The franchisees then share in the savings rather than taking an upfront fee, so this is done at no upfront cost to the companies. Some recoveries have been in the millions of dollars. Low investment, low overhead, work from home business, all-in costs about $60,000. These franchises are ideal for executives who have existing business relationships, or are willing to develop them. This is a terrible business for anyone who does not have sales or B2B experience as business does not come to you like with a restaurant or retail establishment.
Employment & Staffing. We are seeing unemployment rates rising to historic levels, some suggest it will be possibly worse than the great depression. Companies still need to get work done, but many will choose to hire part time and temp employees, which bodes well for staffing companies. Like the previous example, owners of a staffing business should be sales oriented, this is a very relational business, investment around $120,000 all -in
Disaster recovery. There will still be floods, fires and mold problems regardless of the economy. These businesses go out and help homeowners and businesses get back to normal after these events happen. As you are dealing directly with the insurance companies in most cases, you don’t have to worry about your customer base not having money. Cost to start a disaster recovery business is about $80,000.
Crime scene cleanup. Crime isnt going to stop just because of a recession, in fact it may increase. Another little known franchise model, but one that can be quite lucrative, some cleanups can command over $1000 per hour for specialized cleanups. Owners are usually ex-first responders, and owners need to be comfortable dealing with “”unique working environments. All-in Investment is about $80,000, again low overhead and potential to work from home. Be careful in this space there are some unethical operators, give us a call to find the good ones.
Depending on your market demographics senior care can be a good business, as well as appliance repair, handyman franchises, and other service based options.
If you are starting with zero money – get that online business started! Start a blog, start a YouTube channel, just get started. More buyers making purchases online than ever before. Spending a couple of hours each day will bring enormous changes in just a few months.
It is important to remember that everything has cycles. Booms, busts, pandemics, hyperinflation, recessions, depressions, economic collapses, even civilizational collapses have all happened multiple times throughout history and will happen again. Fighting the cycles is futile. Adapting to the trends is key. If you need expert help finding a franchise our services is always free visit https://www.franchise.city – for details on the cost reduction franchise https://www.franchise.city/cost-reduction-franchise – details on the forgivable loan programs from the SBA click below. thanks for watching.