Starting a Franchise Business During COVID-19

It’s no secret that COVID-19 has meaningfully changed the business landscape and will likely continue to do so for the foreseeable future. As businesses shifted almost overnight to at-home workforces, needs for facilities management plummeted. Many in commercial real estate also face a bleak future as large companies re-evaluate the need for large corporate complexes. Changes in these areas have displaced workers just as much as those affected by closures of restaurants, bars, entertainment venues and others requiring in-person customers to thrive.

Options for a Displaced Workforce

With the business landscape in constant flux, many displaced workers are looking for realistic options to move forward. Some who have access to sufficient start-up capital are looking to franchise businesses. Franchise businesses offer made-to-order business plans and operating support whilst allowing you control over your own business destiny. Despite the allure of no longer being subject to corporate shifts, those considering it should contact a franchise contract lawyer to ensure you understand all commitments and restrictions, especially during this time of uncertain consumer demand.

Type of Franchise

Some franchise businesses have seen upturns during the COVID-19 pandemic and seem especially enticing. Businesses that have been able to capitalize on the demand for disinfectant and hand sanitizer, mobilization of at-home workforces, at-home or outdoor recreation and virtual learning are seeing banner times. Jumping into these opportunities instead of fighting for another corporate position against a large pool of displaced workers is tantalizing. Be sure to give a good amount of thought to how the demand for these products and services is likely to grow or decline over time.

COVID-19 has disrupted almost everyone’s life at this point, and there is no doubt that many lives have been adversely affected. It is important, however, to capitalize on opportunity where it presents itself to move forward in a positive manner.

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