What are the best franchises in 2021?
After the car crash year that was last year everyone wants to know what will be the best franchises this year. This is a dynamic page that will be updated monthly so please bookmark it and refer back each month. With Brexit and the coronavirus in the past this should be a great year to start a franchise. Now that things have settled down a bit! As 2020 unravelled businesses have adapted and settled into new routines. Some of those businesses are set to be the most profitable franchises of 2021. But how do you decide what might be the best one?
Franchising is robust and profitable
The franchise industry has changed as a result of the general economy changing. As a potential buyer looking for the best franchises 2021 please carefully consider the impact these changes will have. The old adage that past performance is no guarantee of future success has never been more apt! What worked pre-Covid may not work now. Even if it does work now it may well be different to the presented historical facts. Everyone is in a different environment and demand for all business formats is now influenced by the virus to a greater or lesser degree.
Many people are going to Google and typing in “best franchises 2021”
As already mentioned casual dining and quick service outlets will change emphasis on take out and home delivery. Franchises like Full Circle Funerals, Percurra and Wolf Healthcare thrived throughout the virus and are relatively immune from market forces. Brands including National Roof Box hire may well capitalise on the trend to avoid planes and holiday at home. Brand new franchises like Yard Cards are inexpensive, profitable and quick and easy to establish. Yard Cards also thrived during lockdown if that ever happens again!
Which sectors will change?
Casual dining restaurants may never be the same again. Purely as an eat in format they won’t be the most profitable franchises of 2021. However their takeout potential is massive as has been proved by the success of this restaurant franchise. That might actually make some more profitable. So too personal services like medical and beauty will change, they’ll always be in demand but they’ll change.
All face to face business formats similarly will be different. For example, will that sales rep role even be possible? Many franchise networks such as those aimed at children are basically gatherings of people. Mums and Tots all together in a room either for exercise, education or social interaction may not even be possible. There is a limit to the appeal of online substitutes.
What about new franchises in 2021?
Some of the best franchises for 2021 may not be established brands. There is a good chance that it will be a new franchise that takes the crown. New companies looking to franchise will often invite people to join them to road test the franchise. Read this free franchise articlfree franchise article to see how you could acquire the latest new franchise for free!
Many of the best franchises each year are not even advertised. Sometimes they don’t need to push them in the media. Those in the know snap them up before they are widely publicised. To get advance notice of these unique businesses please join our VIP list by contacting us here. Alternatively give us a call on 01274 662001.