5 Franchise Sectors That Will Continue to Thrive In 2021
The global economy took a hit in 2020 after the COVID-19 pandemic wreaked havoc in the world. Businesses in Australia recorded huge losses, with sales plummeting and buyers staying inside for a few months. However, with solid control over the contagion and businesses coming up with contactless deliveries and curbside pickups, it was easy for many entities to make a quick comeback. The confidence of the investors has improved, and they are now looking for recession-proof entities to take the plunge and become entrepreneurs. Naturally, franchises for sale in Australia are witnessing a higher demand because of their low-risk business model and proven policies and processes.
However, while acquiring, it has become significant to look for the industries that will not go out of business under any circumstances. The last year has helped us to identify these sectors that will continue to thrive in 2021. These are the industries that have stood the test of time and will always find customers even in tricky economic conditions. So, here is a list of the five domains that can be picked up for a high return on investment.
1. Food and Beverage Industry
The basic requirement of every human being is food, and the craving for delicious and exotic fare is not new. The pandemic did put some of the dine-in restaurants out of business. However, the takeaway and food delivery services continued to satiate the taste buds of Australians. There was a marked rise in online food ordering and takeaway in the past year and several restaurants started the service to continue to serve their loyal customer base and survive the pandemic. From food trucks and trailers to fast-food chains, all the food and beverage franchises are following the workplace safety norms and delivering gastronomic delights to connoisseurs.
Although consumers may not like to splurge on expensive dine-in during an economic downturn, they do not mind spending a part of the food budget on takeaway and drinks. These are not the basic necessities but have become a part of lifestyle and culture, and it is hard to take it out of the ethos. Thus, it makes perfect sense to invest in the well-known franchise brands that will grow and prosper in the future without a doubt. Here is a link that will help you find all the promising food franchises for sale.
2. Restoration and Repair Services
Whether the economy is thriving or is in the doldrums, the need for repair work in homes and offices will not cease to exist. Most buildings face the problem of seepage, leakage, burst pipes, dirt-filled gutters, overgrown grass in the lawns, cracks in the walls, damaged wiring, etc. Thus, franchises operating in restoration and repair services will always be needed.
Another advantage of buying this type of franchise is that they do not require a physical office set-up and can be run from home. They have minimal overheads and high margins, and in most cases, the equipment comes along with the vehicle and uniform. The remote working trend started by the pandemic has also increased the demand for home improvement services since people are spending more time at home. Many have spent the saved-up cash during the lockdown on renovations to add more amenities to their abodes. Thus, it is the best time to invest in this sector.
3. Senior Home Care
A significant part of the Australian population is ageing. In 2017, 3.8 million people were above the age of 65, and the percentage is steadily increasing. Naturally, they need assistance with their daily chores and shopping and trips to the doctor. Assisted living also helps the elderly to find companionship as the non-medical staff provides at-home care. The senior care franchises are a low investment opportunity for buyers as they do not have to purchase any equipment or pay for the office lease.
The industry has grown by leaps and bounds in the past few decades as more and more older people are availing the services to run errands, maintain the house and prepare their meals. Also, it is a downturn-resistant business that will always be in demand because of the growing population of seniors. Here are a few opportunities available across the country, which can be leveraged by the right buyer for growth.
4. Health and Fitness
Today people are more concerned about their well-being than ever before. The lockdown showcased the willingness to maintain physical agility when scores of people could be seen jogging, walking, and cycling while undertaking all the safety precautions. Besides sanitation, people are putting a lot of thought into improving their immunity to stay healthy and avoid catching any viruses.
The health crisis has soared the demand for medical centres and facilities across the country and the need for better infrastructure for the sector. The industry is expected to grow through 2020-25 and currently has a market size of $150 billion. The demand is also driving changes in the sector and the industry is becoming more patient-centric without being impacted by the geography or socio-economic background of the patient. The new approach has opened up a plethora of opportunities for investors and this is the best time to make an investment.
The pandemic forced children and students to stay at home and continue with their online classes. With the classrooms coming into households, parents have understood the importance of one-to-one tutoring, which is gaining momentum in the country. Also, the population of young children is rising in Australia, which has led to the demand for more schools, and government funding will ensure that the sector keeps thriving in the coming years.
The industry expansion is expected to improve employment in the sector and give an impetus to the domain, which currently owns a market size of over $134 billion. Technology has also helped in the growth of education and training, which is a recession-proof segment that will always be in demand. Here are the best franchise opportunities in the education sector that can be acquired by savvy investors.
If you have been waiting for the right franchise for sale in Australia, make sure that you choose an opportunity from the sectors mentioned above. These industries will continue to boom in 2021 and bring the desired value to the owner.
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