Top Franchise Models to Invest in During Pandemic Times

Top Franchise Models to Invest in During Pandemic Times

 

Top Franchise Models to Invest in During Pandemic Times

 

The business landscape has changed in significant ways here in Canada thanks to COVID. Frankly, in the franchise industry, business couldn’t be better as people race to find new paths to income or seek new ways to sink their roots into solid, recession-resistant industries. Franchise sales numbers still soar to record-breaking heights as innovation and convenience becomes the cornerstone of every business strategy. Upon examination of the most successful franchises we’ve worked with this year and throughout 2020, common threads emerge demonstrating what makes for the most resistant business ripe for growth.    

Service-Focused as the Heavy Hitter 
 

Service based businesses have always been an excellent choice from a financial standpoint. These offer low-overhead models and often require a lower-than-average up front investment. These types of franchise models are typically scalable as a franchisee’s resources are built — only equipment, a vehicle, and staffing need to be added as the demand increases. Not as a rule, but generally speaking, service based businesses may also be home-based, so our following two examples straddle the two.    
Home-focused services have proven recession-proof as people have more time at home and are getting an up close and personal look at their houses’ needs. Wet Paint, a service concept that resurfaces old outdated kitchen and bathroom cabinets with a professional painting process, is seeing incredible demand. This concept focuses on renewing the old, ultimately providing a much needed facelift to the abode without the added time and money that comes with new cabinetry. Another great example of a service-based business that has continued to do well is Royal Coating and Supply. This company performs a vast array of concrete and coating services. Such a service can make the entire outdoors area feel completely new!
   

Clean Sweep 
 

The hot topic of today is sanitization and cleaning. Almost all cleaning, sanitization, or disinfection businesses have seen soaring demand. This is both a B2B and B2C concept. There is no type of business that is barred from needing such services, making all markets an opportunity. More often than not, clients of such cleaning companies are recurring revenue for the franchisee. Once they have established a trusted, working relationship, clients will continue to utilize the services. Motivated House Cleaning is one such company that has greatly benefited during these unprecedented times. Cleaning companies allow for low upfront investment — cleaning supplies, a working vehicle, and a customer list are all that’s needed to begin. COVID has permanently shifted the cleaning services industry for the better, marking it as essential for many companies and facilities forevermore.    

Home Sweet Home 
 

There’s nothing quite like the convenience of working from home! Lower overhead costs and minimal staff are all a common vein that run through home-based businesses. BBQ Party in a Box is an amazing example of these convenient models. Everything is arranged at home and then the event takes place at a given event space. Since most of the preparation takes place away from the clients, social distancing is made easier.   Smiles on Wheels leverages a powerful high-demand concept in a convenient mobile model. This business travels by appointment to the customer — which can be their house, their workplace, or a parking lot — and expertly whitens teeth using a specialized whitening gel. As with BBQ Party in a Box, this concept only needs a vehicle and home office space to thrive. One more steady segment worth mentioning is our pets. Pets have become a part of our families and nothing has changed during COVID. Good Sniff Spaw, a concierge pet grooming service, is growing. Pet owners consider their pet’s grooming essential and have shown to lean heavier on brands that are convenient and limit person-to-person interaction. All of these are prime examples of home-based businesses that do not need a brick-and-mortar space to launch and will be a flexible addition to your schedule.    

The Age of Digital 
 

Reaching your clients in the virtual world was once optional — but not anymore. Patrons no longer pop over to a shop to make a quick purchase. Instead they search, scroll, and venture out seeking business models who can meet their personal needs quickly or their consumers’ expectations. More than ever, the advertising space is competitive and ads must be innovative to stay top-of-mind and get noticed. SMART TEK has been Canada’s leading interactive technology and media solutions since 2010. They provide digital signage in a suite of displays, keeping ahead of the times and perpetuating the economy through solidified informational communication and advertisements. NetPrintShip falls into this category as well as a one-stop shop for printing, shipping, and promotional needs. Using state-of-the-art equipment, both of these businesses are relevant and directly contribute to economic growth and sustainability through important B2B logistical and promotional solutions.
The unprecedented Coronavirus pandemic has significantly affected the franchise market for the better. Home based businesses, service-driven concepts, cleaning and disinfection companies, and technology-driven models are all viable options for your next franchise venture. Are you seeking an affordable franchise here in Canada? We can help! Do you want to franchise your business in Canada? Our team can do it!  

Contact FMS Canada for more information at www.fmsfranchise.ca or email Scott at scott.mccarthy@fmsfranchise.com.

 

Diversity and Entrepreneurship in Canada

Diversity and Entrepreneurship in Canada 

Toronto is generally considered the business hub of the Canadian economy and it presents on the most significant market opportunities for franchising in all of North America.  Some of the franchise expositions our firm has taken part in held in Toronto have consistently been some of the most well-attended expos.  What makes Ontario in particular so special and so different from the rest of the Canadian market is the advent of multi-culturalism and the incredible global population that makes up Toronto today. 

 

As of 2016, more than half of Toronto’s population identified themselves as being “visible minorities” having come to Canada from foreign lands.  With a statistical population number around 6 million people and being the 4th largest metro in North America, this is an incredible scenario.  The development of what has become Toronto has been driven largely by proactive global immigration policies and a government that reached throughout the world into communities and supported those that in most cases no one else wanted such as Syrian refugees.

 

Toronto has also been at the leading edge for much of North America when it comes to income growth, employment, innovation and wealth creation.  Wealth creation has been driven by all factors mentioned, but mostly by the ever-increasing real estate values of both commercial and residential properties in Toronto.  In February 2018, that average price per home reached $736,783.     

 

From a franchise industry perspective, this unique combination of factors creates great potential for franchising in the market.  First, due to the large concentration of immigrants, entrepreneurship is widely accepted.  People who immigrate many times either have no other option or just understand small business and effectively are comfortable taking action to start a new business or franchise.  Second, with growing global inputs, the Toronto market is an incredible representation of a wide range of cultures, business practices and global personalities.  The market bustles with unique brands, incredible foods and skills that come from around the world. 

 

We like the future of franchising in Toronto and suggest to any brand, if you aren’t here, you need to figure out how you can be. 

 

For more information on franchising in Toronto, contact us:

http://fmsfranchise.ca/contact-us/