Downing Barber, founder & CEO of Barberitos, gives us five reasons why now is better than ever to invest in a franchise. If you were thinking about buying a franchise or still feel undecided about investing in a franchise business, this could be your moment for action. Like any prudent business person, he suggests to buy when the price drops due to fear. Thus allowing you to enjoy the benefits when the economy bounces back to normal in 2021.
Listed below are few reasons that might help you understand why now is better than ever to invest in a franchise.
There is a plethora of key properties available in the market for occupancy. This means, there are many landlords who are willing to negotiate prices to secure good tenants. As a result, not only do you increase your chance of finding an amazing property at a key locality but also at an unbelievable price. This is seen by an increase in the number of current franchisees that are looking to expand their footprint.
Are you short on funds? Now is also a good time to borrow as the interest rates are at an all time low. Moreover, Small Business Administration is keen to work with entrepreneurs who want to open business now.
We have all noticed that the gas price is now low. This means transporting goods is cheaper. As a result, there is a more disposable income in the hands of the consumer.
The closing of borders has resulted in high food supply locally. This means, the cost of food is cheap. In other words, the margin for profit is high with lower operational and food costs.
What do you do when the traditional methods of sales drops. For instance when dine in options were limited, most of the successful restaurants jumped at the opportunity to innovate and explore new and diverse sales opportunities. For example, there has been a significant increase in the contactless delivery, curbside pick up, online and mobile orders.
Source: Fast Casuals
Get to know who are the industry key players, visit our Interview of the Week page.
To stay updated, visit our Franchise News section.
To learn more, visit our Franchising Tips section.
Subscribe to our email list to get the updates to your inbox:
Franchise Feasibility Studies: “This is used to check if a company can be a good franchise.”
The Franchise Talk is more than just an online platform … it is a Community.
A Community to connect franchisors and brands with franchisee and investors from the Middle-East.
A Community to share latest trends, rules, regulations, and most recent product launches in the world of franchising in the Middle East.
A Community to get inspired, explore success stories and enable new experiences.
The Franchise Talk is not just an information provider. The Franchise Talk Connects, Informs, Inspires, and Educates investors, franchisees, and future start-ups and entrepreneurs.