Where will you find the best franchise opportunities in the new normal?
There are thousands of franchises to buy in the United States, but the key to success is to buy the right one. It should be a business that dovetails with your personality, skills, and experience. Our franchise aptitude test is a great starting point to learn what type of franchise will be most compatible with you.
Once you have considered the business style, the next step that many new franchisees take is to think about what franchise to buy. This is often a mistake, and could be an especially costly one in 2021.
Instead of being mesmerized by the most common franchises, we suggest a ‘top-down’ approach – think about the sector first, and then look for businesses within that sector that fit best with your experience and personality.
In alphabetical order, here is our list of 10 sectors to search for franchises to buy in 2021.
1. Shipping services and delivery
The coronavirus pandemic has changed the way that many people shop. Lockdowns have introduced many more people to shopping from home, and accelerated the shift to e-shopping. Look no further than the Amazon share price for evidence – at the time of writing, it has doubled since April 2020.
Goods need to be shipped from distribution centers to customers’ homes and businesses. Consequently, shipping services have grown substantially, and look set to continue to grow in 2021 and beyond.
The servicing of shipping is likely to be in a period of growth going forward, too. Shipping services, like UPS Stores, that offer packaging, printing, shipping and more to small businesses. Shipping services are playing a key role in enabling business to continue, providing essential supplies and a solid earning potential to franchisees.
2. Green companies
With a Democrat in the president’s seat, it’s likely that environmentally friendly policies will become more prominent. This will help to improve people’s understanding of green issues further, and shape behavior and buying patterns. For both environmentally conscious entrepreneurs and consumers, green companies are becoming increasingly big business.
3. Health foods
Will the American people eat more healthily in 2021? If you believe they will, then health food companies should be on your list as potential franchise buys. Whether this is in production or retail, you could buy a franchise that utilizes your skillset and expertise – and build a business that helps people to build healthier lives.
4. Home tutoring
Home tutoring is a large and growing sector. If you’re passionate about education and helping others to improve their own, then this could be a great business to start. It’s not all about being a great educator, either. You’ll be supporting your ‘pupils’ to manage their time better, prioritize tasks, and remain disciplined and focused. Who could your pupils be? Home tutoring services range from tutoring children to coaching entrepreneurs, and everything between.
5. In-home health
Another rapidly growing sector is in-home health. The Bureau of Labor Statistics has estimated that 1.2 million new jobs will be added in homecare by 2029. That’s a growth of 34%, and much faster than forecast for the whole economy.
As the population ages, the need for some form of homecare is increasing. It’s more affordable and convenient than taking an aging parent or grandparent for a medical appointment, too.
6. Takeaway/drive-thru fast-food outlets
Yes, takeaway and drive-thru fast-food outlets will continue to be popular. A coffee on your way to work. A quick meal at lunchtime. A treat for the kids at the weekend. We love our fast food in America, and the pandemic has pushed the demand for takeaway donuts, burgers, coffees, and more. Even many healthy eaters find it hard to resist the occasional sweet treat.
7. Home Remodeling/Repair
We see two distinct trends that make home modeling and repair franchises as good opportunities in 2021.
The first is more people are likely to turn to working from home as their main way of working, and more organizations are likely to encourage this to happen. The second is current high real estate prices and economic uncertainty.
With these factors in place, it’s likely that people will seek to remodel homes for emerging needs or repair and remodel to upgrade existing homes rather than move and take on extra debt.
8. Children’s education
Parents are serious about their children’s education. Supplemental education in the United States is now a multi-billion-dollar business, and it continues to grow. As parents seek to improve the choices that their children will have in the future, children’s education is helping to provide the learning that will help their children stand out.
These franchises are also extremely satisfying to entrepreneurs who want to make a difference in society, while owning a recession-proof business.
9. Pet services
Pet ownership is big in the United States. According to the American Veterinary Medical Association (AVMA), more than 48 million American households own at least one pet – and pet owners are big spenders. It is estimated that pet owners spent $99 billion on their pets in 2020.
Pet services can be profitable, with many opportunities across pet foods, natural pet products, pet insurance, pet grooming, pet photography, pet sitting, veterinary telehealth, and more.
10. Haircare
The haircare industry is estimated to be worth around $75 billion in the United States, and growing at around 8% per year. Hair grows, and people like to be well-groomed. It is one of the industries that benefit from a high level of recession-proofing.
Now it’s time to find the best franchises to buy in 2021
You’ve taken the franchise aptitude test and identified your personality strengths and the franchise business type that will be most compatible with them. You’ve now got a better idea of the sectors that could provide the best franchise opportunities in 2021.
Now it’s time to find the best franchises to buy. A consultation with New Ground Consulting will dig deeper and help you sprint out of the blocks on your journey as a franchisee. We’ll help you find the perfect franchise opportunity to match your skills, personality, and experience, in a sector that maximizes your growth potential, and a location that suits.
To take the first step to becoming a successful franchisee, book a free consultation with New Ground Consulting today.