The new year is here, as is the excitement about what it will bring for business. If you’re an existing franchise, it’s important to know what the upcoming months will bring. In contrast, if you’re an aspiring franchise owner, you will want to know what’s ahead to best plan your franchise business.
Take a look at these predicted trends for franchise businesses and learn how they may affect you as a business owner in months to come. Knowing what to expect can help you plan for the future and find more success along the way.
Check out these trending franchise examples predicted to take off in 2022:
The world saw many trends after the onset of COVID-19, and while most of them are a result of a last-minute need, they will stay for the long haul. As a result, consumers have become accustomed to new amenities, like curbside delivery or pickup, the ability to preorder online, and no-contact shopping.
Germs or otherwise, it’s a new way of doing business, and it’s not going anywhere if consumers have something to say about it. Other trends that are likely to stick around include online booking/scheduling, paying in advance, sales that change by the day, and employees who work in the back without ever coming in contact with customers.
Not having contact with customers might seem strange to old-school business owners, but the truth is that they offer more ways to bring in funds -all with employees who can stay busy and make the most of their time.
Another pandemic trend that may stay is the inability to eat in restaurants or limited seating. While buffets may be something of the past permanently, franchise owners have made their own decisions when it comes to these trends. Even if states have allowed it, certain business owners have decided not to allow them to return.
While consumers may have reacted harshly if these options were pulled out of the blue, with the global norms changing, this was a simple and painless way to change business models.
Hybrid Options for Franchise Businesses
Another trend that is here to stay is that of flexibility. Franchise brands are more open to co-branding, varied styles of buildings, etc. While rules may have been cut and dried in the past, businesses find it more worthwhile to remain flexible for a good franchisee. Weed out the bad and remain flexible for those you want to stick around is the trend that’s here to stay.
Lax or Adjusted Building Laws
We’re not saying franchise locations are allowing dangerous things. But they are allowing more to remodel vs. build; they require more options for seating and tables than they would have in the past, etc. This is due to national shortages that all but make building a franchise location impossible. So rather than not allowing franchisees to open because they can’t get their hands on the right gear, they are opening the rules and allowing more variation on what goes.
Fewer Options for Consumers
Another side effect of the national shortage is supply issues. Business owners can’t always get what they want when they want it. Therefore, consumers have had to adjust their expectations. These shortages have caused some franchise locations to tighten their selection permanently. Others notify customers when they don’t have X on hand.
In any case, this is another example of what goes in the status quo; consumers are used to folks not being able to get certain things. Therefore there has been a little backlash to said supply issues. If it’s affecting everyone, consumers are less likely to become angry.
Acceptance of shortages also means that it’s the ideal time for franchise owners to adjust their menu or service offerings. Of course, doing so in any other market could be a catastrophe, but if you want to tone down, now is the time to do so without upsetting your customer base.
Franchise Take-Aways for 2022
Much has changed for businesses in the last year, and franchises are no exception. The trends will continue to carry over into the upcoming year and are likely to stick around well into the future.
Take a look at how these trends are likely to affect your business and how you can best plan for success with your franchise business.
To learn more about opening a franchise location of your own, get in touch with us today.