Joel Libava
(Image of Valvoline®, a potential pandemic-proof franchise to own, comes courtesy of jeepersmedia on Flickr)
I know what you’re asking yourself.
“Should I really be looking for a franchise to own right now? In the middle of the pandemic?” A “pandemic-proof” franchise?
Guess what? If I was thinking about becoming my own boss I’d be asking myself the same thing. And I probably wouldn’t be sharing that thought with others because they would think I was nuts.
It’s clearly a crazy idea to invest in a franchise during the pandemic, right? Too risky.
Seriously? You’re going to buy a franchise right now?
During the End Times?
(It’s not the End Times. This will pass.)
So, stay with me. The things I’m going to share with you about how to find pandemic-proof franchises to own will make sense. I promise.
The Pandemic: I Have Good News And Bad News
First, the good news: pandemics like Covid-19 don’t last forever. The latest prediction is that this one may last anywhere from 18 to 24 months. And believe it or not, that is good news. It is going to pass.
The bad news: the world economy is being hit hard. And no one knows when things will return back to normal.
In light of that, you should probably hunker down. Wait things out for a bit. It’s the safer thing to do. And I can’t blame you.
Except playing it safe won’t get you very far.
“We really only have two choices. Play it safe or take a chance. For me, pulling back because of fear has always made me feel worse.”
– Gail Sheehy
Now, in a moment, I’m going to get to the heart of the matter…how to find Coronavirus-proof franchise opportunities to own.
Royal Hint: Every franchise can be grouped into one very, very, very, very specific business sector. One.
But before I reveal what it is, you first need to look inside yourself a bit, because going into business is a big step. Let’s make sure you’re ready.
Look At Your Life
This is a great time for you to evaluate your life up to now. Especially if you’re thinking of going into a franchise business now.
This 3-minute video may help you get in the mood to do it.
Great song. Anyway…
I encourage you to take some “me time.”
That means taking stock of your life.
Are you happy where you’re at, or do you have more to do?
And remember…
“If you don’t design your own life plan, chances are you’ll fall into someone else’s plan. And guess what they have planned for you? Not much.”
– Jim Rohn
Finally, it’s not as if you’re alone in this. A lot of your fellow travelers are at a crossroads. But I only want to talk about you now. About a road you can take. One that’s proven.
Franchising
When it comes to going into business for yourself, there are 3 ways to do it. You can:
- Come up with an idea for a business and launch it
- Purchase someone else’s existing business
- Buy a franchise
I’m going with the last one.
Because when you own a franchise, you get:
- A proven business model
- A business system that’s been tested
- Support
- Technology that helps drive revenue
- Turnkey marketing programs
- Name recognition
- Vetted suppliers
- A built-in network of fellow franchisees to talk to
That’s good stuff, right? And I’ve only scratched the surface. Now for the easy part.
Choosing the right franchise opportunity to own.
Picking one franchise.
One out of 4500.
In fact, there are currently over 4000 different franchise opportunities being offered in the U.S. But don’t let that number worry you, because I’m going to show you how to quickly narrow your search down to only a few.
Pandemic-Proof Franchises: Franchises To Own During The Pandemic
This pandemic has rocked the franchise world.
Every franchise business has been affected one way or another.
However, some have fared better than others. I’m referring to them as “pandemic-proof” businesses. Franchises that are pandemic-proof. And those are the ones I want you to focus on.
Sounds pretty simple, right? Well, it’s not.
Case in point: fast food franchises.
To be sure, you don’t need to be a rocket scientist to figure out that fast food franchises that offer drive-thru service, curbside pickup, and delivery are doing pretty well. They’re pandemic-proof businesses.
(Pictured: NASA rocket scientists.)
It’s as if fast food restaurants were designed for pandemics.
Maybe McDonald’s entrepreneur, Ray Kroc, more of a visionary than previously thought.
With that in mind, it would behoove you to take a look at the fast food segment of franchising. It’s a segment that can be a very profitable venture (as long as you choose the right concept).
Of course you need to have adequate capital, a lot of energy, and good management skills to qualify for today’s food franchise opportunities.
But what if you don’t see yourself working 14 hours a day in a hectic, fast-paced environment? (Not that there’s anything wrong with it.)
In other words, what if you’re not at all interested in owning a food franchise?
What if you want to find other types of franchises to learn more about?
I’m referring to other franchises that can do well in times like these.
If that’s the case, give me a second. I need to get out of my chair and peel back the curtain.
There we go.
Pandemic-Proof Franchises To Own
This is the moment you’ve been waiting for.
If you want to find franchises to pursue during the Coronavirus, I’m talking about bulletproof franchises, you need to focus on these two words: essential businesses.
Now, I’m not going to jump into a debate about what businesses are deemed “essential” and which ones are not. It’s a waste of time. But you need to key in on essential businesses.
That said, I have been able to identify essential businesses within the franchise industry. Like:
Of course, there are other Covid-19 proof franchise opportunities you need to know about. Essential ones.
As a matter of fact, I accidentally created a list of pandemic-proof franchise opportunities you can start learning about right now.“Accidentally,” because the list I created began as a “List of Essential Franchise Businesses,” which I quickly realized were actually “pandemic-proof.” The reason? They’ve been able to remain open during the Coronavirus.
With this in mind, I encourage you to check out myList Of Essential Franchise Businesses, so you can get some ideas on franchise businesses you can start.
Just make sure you head back here after you look at the list.
But only do that if you want to learn how to make a smart choice in a franchise to buy.
What To Do When You Find A Franchise That May Makes Sense To Buy In Times Like These
Finding franchises you think have potential is one thing. Doing the work needed to make sure they’re winners is quite another.
The best thing you can do (right now) is to read and bookmark my step-by-step guide on how to buy a franchise. Everything you need to know about buying a franchise in a really smart way is included in it.
Next, if you’ve found a couple of franchises that look promising, you need to grab “The Definitive Guide To Franchise Research.” Click the link to see why you need my all-encompassing guide.
Third, if you start getting close to buying a specific franchise, hire a competent franchise attorney to go over the FDD and the franchise agreement. That way you’ll be able to sleep at night.
To conclude, the hot, new way to search for a decent franchise to buy is pretty simple.
Only look at pandemic-proof franchises to buy. The ones that must stay open during a pandemic, or that can adapt (with proof) their business model to the current conditions.
FAQ’s About How To Invest In A Franchise During A Pandemic
Franchises that are considered essential businesses are the best ones to own during a pandemic. Food franchises that offer curbside, delivery and/or take-out, along with in-home senior care businesses are two franchise types that remain open during a pandemic.
Retail franchises and dine-in restaurants tend to be affected the most. That’s because these businesses need to remain closed until the number of new cases of the disease are on a serious downward trend.
An economy that’s temporarily shaped and directly affected by a pandemic.
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