In all my years of franchising, I have seen times of strong economies and weak economies; however, this is my first pandemic and I find the businesses that are growing interesting.
I am learning that “Recession-Resistant” and “Pandemic-Resistant” industries are not the same. When I think of recession-resistant businesses, need-based franchises come to mind. For example, fire/water restoration, plumbing, car maintenance, and maximizing your enjoyment on a tight budget.
However, pandemic-strong franchises are a bit different.
Here are the trends/industries that are growing during the pandemic. Some of these may surprise you!
- Puppy adoption
Many people are adopting pets right now. This creates a strong need for dog training, dog sitting and walking; especially as some people are going back to work.
- Home entertaining while social distancing
People are not traveling right now; however, they still need social interaction. Being outdoors is a common solution to having time with friends or family, while social distancing. Businesses that appeal to outside entertainment are growing: firepits, pavers, landscaping, and even pest control to enjoy the outside while staying safe & healthy.
- Pool ownership
Pool ownership is at an all-time high right now. This is a great way for families to enjoy time together, be outside, exercise and get their dose of Vitamin D. Pool contractors can’t keep up, so any kind of pool maintenance or cleaning is a perfect pandemic-resistant franchise!
- Home repair
2020 is the time to work on your honey-do list! With so much time at home, people are working on their home and the projects that they have been putting off the last few years. Think of painting, window treatments, flooring, & furniture; especially services that create a big change for a smaller budget.
- Children’s education
This is one of the most uncertain years for parents and teachers. And while we want to keep our children and our teachers safe, we also know that our kids are probably falling behind in their education. Tutoring services, especially virtual services, are experiencing incredible growth as parents will always prioritize their children’s education.
- Working from home
Personally, I am updating my home office right now and the demand is insane! Companies are even developing modular offices to keep up with demand and be able to install them quicker. Many people who were commuting to offices are now at home and many are stuck on the kitchen table trying to work. Some companies have decided to close their office and have all employees work virtual for the foreseeable future.
There are great franchises that are experiencing crazy growth and demand in all of these industries.
What I find most interesting about these industries is that their growth and demand is not going to go away when life returns to ‘normal’. If you install a pool, buy a dog, or have children in virtual school right now, you will continue to need solutions in the future. The pandemic may be highlighting these industries right now, but they will continue and thrive into the future.
While many franchises are growing this year, even despite the pandemic, these are my top picks for “Pandemic-Friendly” franchises.
Want to learn more? Give me a call and let’s discuss!
