Coronavirus saw some challenges in social, political and economic fronts across the globe. As the pandemic continues to thrive and pose new threats, some businesses that follow the franchising model, have seen an unexceptional boom.
It’s very vital that financial independence is there during these tough times and many adopted new ways of generating income. Franchising was one of them. If you ask yourself that is it safe to invest in a franchise during this pandemic phase, the answer is a big YES! Let us explain how.
Franchising opportunities in Ahmedabad are branched out by Franchise Deal in myriad ways. You get to see the results while sitting back at home through the franchise model. With millions of people losing their livelihood, franchising emerged as a lifeline.
Covid-19 made everybody introspect their financial decisions. The need for constant adaptation in this challenging market is essential.
Why Invest in a Franchise?
Many countries are emerging from a nationwide lockdown process, so this is the time to make a move to change the future. Companies not providing essential services are facing the wrath of this pandemic. It’s quite simple, the economy needs commerce and people need jobs to keep on running the smooth cycle of an economy. Franchisors can look for expansion opportunities in this scenario with abundant market resources and manpower that were laid off. There’s no bulletproof guarantee but franchising models see fewer failures.
1. Lower Overheads: As people are mostly working from home, franchising can mean lower overheads. Pandemic has made the market vulnerable. You can get space and manpower for a franchise at lower costs than earlier. That’s good for starting a franchise. Growth and opportunities come along with challenges in a business. Franchising ensures that your business is up and running in a recovering economy.
2. Choose Wisely: No business comes with a no failure policy. Risks are always present. Choosing a business model and a franchise that has less room for shutdown is imperative.
Revenue streams are somewhat different with some of the best franchising opportunities in Ahmedabad like drive-through or India’s biggest smoothie chain Drunken Monkey. It’s something customers are comfortable with and are less apprehensive about. Also, it’s an essential service so it’s assured that people will be inclined to buy.
3. Stronger Sense of Community: Social distance was emphasized during the peak of the Pandemic. With that, a stronger sense of community also came into the picture. With the “Go vocal for Local” campaign, many local businesses got support. Franchising supports this in every step with an integrated supply chain model.
Having said that, owning a business can be beneficial with a newer, stronger and closer community. “We are all in this together” take will help everyone bounce back with a new perspective.
4. Customer Loyalty: Pandemic or no pandemic, customer loyalty is what drives sales in the long run. Agreed? Franchising helps you nourish and flourish the loyal customer base that comes with every brand. It can assure you to have a business safe enough to run without stepping out of the home.
5. Easy Adaptation of Business Models: Franchise brands in Ahmedabad have seen steady growth by altering their business models creating new revenue streams for the future. Online classes, contactless deliveries, live streaming sessions and webinars are the new normal. It’s hard to believe that they are not that difficult to adapt to.
In a nutshell, franchising can be a good safety net for new entrepreneurs, SMEs and local businesses. It’s the right time to exhibit, expand and excel. Contact Franchise Deal today to know more!