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Should I Buy a Franchise During COVID?

April 14, 2021
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We're well into 2021, and many people are looking forward to starting over this year. For many, this includes taking a big step towards starting and owning their own business.

While the new year certainly provides a fresh outlook on life, we're still dealing with COVID-19 on a worldwide level. One of the biggest worries on everyone's mind is figuring out how to navigate the financial challenges the pandemic has brought upon us. People are looking for ways to secure their financial needs through different sources of income so they can put food on the table for their families and keep a roof over their heads.

Notebook With to-Do List Including Buy a Franchise and Being My Own Boss
Deciding to wait around for the COVID-19 pandemic to go away could have you waiting a very long time. Many people have lost their jobs and are looking to start over and get back on track. One of the biggest things that often prevent people from taking a leap of faith and starting a business is the uncertainty that surrounds starting something new.

If you've been negatively affected by the pandemic financially, now might be a great time to take that leap of faith. Buying a franchise could turn a bad situation into a good one.

Franchise Decision-Making Factors

But how do you know what franchise to buy when there are so many choices? What kind of franchise will be successful, and which one will offer the best return on your investment? These are just some of the things you should consider before you make your decision. All you have to do is analyze and consider your franchise options carefully by looking at some of the key decision-making factors that we've outlined for you.
  1. How much advertising does the franchise do, and what are the costs?
  2. How intensive is the training?
  3. Does the franchisor protect the franchise territory you're operating in?
  4. How available is the franchisor to its franchisees?
  5. What are the key performance indicators of the franchise you're interested in?
  6. What are the costs of growing your business?
Globe and Calendar Showing Months Passing Surrounded By COVID-19 Molecules
One other thing to add to this list, especially in light of the pandemic, is how flexible it is to operate your business. Many businesses that operated primarily online were able to survive the pandemic. Similarly, businesses that provided products and services that were deemed essential versus nonessential also had an easier time surviving the pandemic. When looking at franchise opportunities, consider getting into a business that fits into either one of those qualities.

Pandemic-Proof and Easy to Manage Franchises

If you're unable to be present and put forth a lot of time and money into purchasing a brick and mortar franchise business, then there are plenty of home-based franchises that you can consider. These types of franchises cost less to start, operate with less human resources, and provide a good return on investment. Since you can manage and run your business from home, they're flexible to fit your lifestyle needs. Home-operated franchises can be a good way for you to start a franchise business when you don't have many resources to work with.

Home and property maintenance services are always needed, regardless of the social or economic climate that's happening around us. That makes home-service franchises a great opportunity if you want to start an essential business. Most franchises offer extensive training, so even if you don't have the experience, you can learn how to operate a home-service franchise successfully. Sir Grout has been ranked year after year as one of the best franchising opportunities in the home restoration and hard surface industry. Sir Grout's business model has continued to thrive during the pandemic, with an increase in the number of franchises opening across the country.

Don't Let Your Dreams Be Dreams and Turn Them Into a Reality

The bottom line is clear: Don't let COVID-19 stop you from pursuing your dreams. The Small Business Administration has loans available for those who want to purchase a franchise, and many bank lenders are willing to give out loans to those who want to buy a franchise.

Businesswomen Drinking Coffee With Laptop in Front of Her
The pandemic has hurt some businesses, but there are plenty of industries that have continued to thrive and will continue to do so. By considering the franchise opportunities that have managed to weather the COVID-19 storm, you can choose a franchise that can survive anything. Owning a business can give you the power to take control of your future and build something you can count on.

Let All USA Franchises Be Part of Your Franchise Search

All USA Franchises is the largest FREE franchise directory. We are on a mission to list all of the franchise opportunities in the U.S. We provide detailed franchise information and let you start your franchise search by industry or by investment. That makes it easy for you to narrow your search down to only those franchises that fit your needs.

We also provide you with an informative AUF blog that's full of helpful articles and tips for franchisees. You'll also find the latest franchise news and the latest information about the franchise events you won't want to miss. In addition to the blog and events information, we bring you a valuable resource section that helps you locate franchise advisors, franchise brokers, franchise consultants, franchise financing, franchise developers, franchise lawyers, and franchise training services. These resources will save you time and can provide you with additional franchise help when you need it.

The pandemic has shaken all of us up a bit, but we can rebound and come back stronger than before. If you've always wanted to start a business of your own and be more in control of your financial future, buying a franchise business is a great way to accomplish that goal. All USA Franchises wants to be a part of your search for the ideal franchise.

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