Industries That Have Increased Business in the Pandemic: Franchise Successes
In a time of global change – when everyone's normal has been flipped, turned, adjusted, and made unrecognizable – it can be hard to know what to grasp onto. As a business owner, you want (and need) to protect your brand. But how does that look from behind the scenes? How do you know what moves to make and how to protect said business? After all, we are all learning as we go; this unprecedented change to modern life. No one is prepared as a franchisee and advice is a guess and check type of situation. There's no previous experience to call from and look upon.
However, as franchisees, we can also look at how each industry is weathering this storm and use that feedback for best moves in going forward.
Industries that Are GROWING During COVID-19
One of the biggest take-aways from the pandemic is looking at which industries are thriving. Grocery stores, healthcare facilities, vehicle repair shops, outdoor home services (pest control, lawn care), and more have all seen incredible upswings in business. Some of this is due to customer need, and with others it's because customers have time to schedule vehicles services or home care.
In either scenario, you can look at who's thriving and why. Use this insight with our own franchise by altering what you serve or provide. Or, when opening a future franchise location, remember what industries are still drawing in funds in a time of need. This is excellent research material and can help you to choose a successful brand, and to potentially adjust your franchise toward need-based growth. Follow trends, keep industry data in mind, and stay up to date on business news for the best info on how to help your franchise thrive.
What Brands Are Finding Success?
Aside from obvious franchises that are 1) classified as essential and 2) fulfilling a need, there are brands who have made growth for themselves by adapting to the status quo. This can best be seen in restaurants who have provided an incentive for eaters to order their food (like a discount or free delivery), as well as those who have adapted to create curbside delivery. Yes, restaurants have also opted for pickup only, allowing customers to come into the lobby ones or twos at a time – but this notably isolates customers who don't feel comfortable entering, who don't want to bring their kids inside, etc. Even the most subtle differences have allowed franchise locations to draw in more funds through the pandemic.
Delivery options have been massively expanded, with heavy safety measures in place. These include no contact drop offs, online tipping, or box deliveries wherein customers take their own items from a single box.
Other franchises still have created online ordering or same-day pickup. This is a safer alternative for employees, too, who still have a purpose in fulfilling orders, but are kept at a distance from more of the population. This is true of retail locations, parts stores, pet shops, grocery store chains, and more.
Meanwhile, home improvement stores like Lowe's have limited how many customers can enter their store at a time (this includes separate entrances for the main and garden entrances; meaning a shopper could potentially stand in two lines). Patrons are reminded to wear masks and stand at a distance of six feet from one another when waiting to enter. However, shoppers can still order online, ordering entire painting kits that are delivered.
Something as simple as signage that reminds safe practices have helped franchises thrive, too. Though it may sound simple enough, it's an easy way to keep customers feeling safe. That safety alone is enough to keep them coming back for more, even in a time of global chaos.
Capitalizing on Changing Times With Your Franchise
There's no denying that business owners have had to get creative in recent weeks. However, it's the way in which they choose to do so that makes all the difference. By protecting their shoppers and employees, and finding safer ways to still provide services, even non-essential companies have found ways to draw in dollars, and in ways that don't conflict with social distancing guidelines.
To help your franchise thrive through the pandemic – and into the future – be sure to follow these changing trends and incorporate them into your business ideals.
For more insight on opening a franchise location, contact us today.
By Bethaney Wallace | Apr 17, 2020 | General Franchise Information