Here are few franchise business opportunities which are considered as recession-proof and can be highly lucrative during this economic crisis.
There’s no denying the fact that India’s Economic slowdown is serious after reduced GDP estimates came forward. It is visible in almost every sector of the Indian economy. The fear of recession-like conditions is looming over the country’s economy.
With such financial downfall, the business world faces the major impact of it. However, a slowing down economy does reduce the customer’s confidence but this does not necessarily reduce the customers spending power.
A franchise can beat the economic recession. What protects a franchise business at a time of economic recession is the fact that you have a well-run business that focuses on high levels of customer satisfaction. This will increase repeat business and word of mouth recommendations. This helps any business grow. Here are few franchise business opportunities which are considered as recession-proof and can be highly lucrative during this economic crisis.
An education franchise is a major part of the franchise business with tremendous growth potential. With the economic crisis looming in, education industry will flourish owing to the demand for highly skilled and educated employees. There are various kinds of education & training franchises such as school, pre-schools, a learning centre, a training institute, grooming centre, animation school, coaching classes, aviation academy, language centre, etc. Investing in any kind of education franchise can be highly valuable.
Healthcare business will never cease to be in demand. The most simple and easy way to venture in the healthcare industry is, to begin with, taking a pharmacy franchise. It is one of the most flourishing and productive franchises in the healthcare industry today. Brand name & trust are an important factor for success in the healthcare industry, taking up a pharmacy franchise offers both. Thus, it is one of the thriving and profitable businesses opportunities which never go out of demand as these stores have daily use products with them as well.
The beauty sector is an ever-growing industry and is often referred to as a recession-proof industry. It’s a billion-dollar industry and is rapidly growing at 15-20% annually. As known, women are the major contributors to this industry. With the rising income level, working women population & changes in lifestyle have provided the necessary boost to the industry
As long as there are human beings, everybody needs to go to the salon. Everyone wants to be well-groomed and look good. Thus, the industry has a great future.
Repair and Maintenance Franchise
During a recession, people tend to spend their money on repairs, as opposed to splurging on buying new things and trashing their broken items. Thus, offering a great opportunity for repair & maintenance franchise. Also, franchises that offer a wide range of services tend to be more successful during recessions than companies that specialize in one area.
You must be thinking, why people will indulge themselves in having desserts while there’s an economic crisis? However, believe it or not, sweet consumption increased dramatically during the recent recession. In fact, the famous confectionery brand, Cadbury’s profits increased by 30% and many other candy, chocolate & dessert brands were invented during the period of recession. Apparently, many people used a burst of sugar to comfort themselves during times of financial crisis. Thus, making this industry a sound investment for your potential franchise. Moreover, dessert franchise requires less investment and requires less area.
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