What are the Best Franchise 2020 Categories
Take a Macro Trend View of what is going on in the world and business.
Trying to figure out what are the Best Franchise 2020 Categories to own is all in all very straightforward. When you make your living in the Franchise world as we do, eventually you’ll be asked which Franchise concept is the best one to buy? This is a tricky question that we often think about. Frequently we’re asked which is the Best Franchise to own. And the answer and concept often change. Let’s dig into how we came up with the Best Franchise Categories and then we can drill down further from there.
In prior years, Food Franchise concepts typically ranked in the top 10 Franchises by my list and most other listing organizations. With the recent global pandemic of 2020 and what’s been happening with social distancing and restaurants in general here in the United States, starting a Food Franchise concept now is a very, very tough choice. Food concepts are evolving to deal with the new “normal” world that we’re being thrust into. Does your the Food Franchise concept you are reviewing have a Plan B for if we go through another shutdown? Is there a drive-thru available? How about the ability to adjust to a “ghost kitchen” type model? See how we try to use Macro Trend thinking in coming up with our Best Franchise to own in 2020.
Ok, here’s five Macro Trends and the related Franchise categories that we fee are the Best Franchises to own in 2020.
- Pet Related Franchises
- Home Service Franchises
- Air Quality Franchises
- Health and Fitness Franchises
- Home-Based Franchises
Are you surprised at our list? Hopefully, you are not. If you are paying attention to what’s happening in the world and more specifically the business landscape, you’ve probably understood why we are leaning on these five categories.
Our Best Franchise Category
Pet-related Franchise concepts were hot prior to the 2020 Pandemic. Now the nation has added more pets, spends more time daily with their pets, and is spending a ton of money on their pets! That’s a great recipe for a successful franchise. That’s why we rank Pet-related Franchises as our number 1 category for 2020.
Next, we selected Home Service Franchises. The real estate market is also completely on fire. With the shortage of real-estate inventory, people are staying in their homes longer and spending money to fix up their “castles”! Many of the home-service, repair, and improvement franchises are doing quite well now. Whether it’s adding a new deck, putting that cool epoxy garage floor in, or updating your closets. Home remodeling, repair, and improvement franchises are booming in 2020.
For many years the remodeling and remediation franchise industry has been thriving. A new focus has been put on changing the environment of a home or business. Protecting and improving air quality is an exciting business to be part of in 2020.
Health and Fitness Franchises might be more important than in 2020 than ever before. Being healthy might be the difference between life and death during this pandemic. Covid 19 virus is harder for people with underlying health conditions. Being in shape and healthy is your best defense from this virus and a multitude of other health risks. We’re seeing members of these health and fitness franchises staying very loyal to their businesses and eagerly awaiting the re-opening of their favorite fitness franchises.
Home-based franchise categories are in high demand now that our country has moved to working from home. This allows more access to add additional revenue streams to one’s life. Many people are buying home-based franchises as a “side-hustle” to protect themselves in case of a future furlough or permanent loss of their job.
How you can learn more
By studying the “Macro trends” of what’s happening in the business world and economy, it’s easier to confirm that you are taking the right direction with your franchise concept choice. Your Best Franchise 2020 choice, will probably be different than someone else. If you follow the Macro trends you’ll be ahead of the game in making your Best Franchise choice! If you’d like to schedule a Free Consultation with a Certified Franchise Consultant then please fill out the contact form.
