Looking to buy a franchise soon? Paul Dodgshon of Business Partnership shares which sectors are good investments
With companies still getting to grips with Brexit and the pandemic having a huge impact on businesses globally, it is easy to understand why most UK businesses have struggled in recent times. However, some sectors have boomed post-pandemic.
Over the past few years, many franchise businesses have proven themselves as secure career paths despite the world’s events. However, it is important to note that some sectors are certainly outperforming others. So, here are the five sectors that are set to – or already are – booming post-pandemic.
As the country emerges from the pandemic, the engineering sector can certainly hold its head high. During the pandemic, engineers played pivotal roles in keeping industries up and running behind the scenes. Now they play a vital role in creating a more resilient future through building and maintaining national infrastructures and innovating, designing and creating new products that will profoundly improve quality of life.
Franchises in the engineering sector have played a critical role in allowing the engineering sector to thrive during the pandemic. For example, the franchise Snap-on Tools manufactured and distributed quality tools to the automotive, marine, railroad and engineering technicians ensuring businesses continued to operate.
It should come as no surprise that the e-commerce sector features on this list. E-commerce not only enabled businesses to survive the rampage of the pandemic but has also unlocked vast opportunities and possibilities for entrepreneurs post-pandemic. The sector has proven that it will not only survive in the coming years but will continue to thrive in the post-pandemic world as customers are now comfortable with shopping and transacting online.
Only 17.8 per cent of sales were made from online purchases two years ago. However, the pandemic has disrupted the status quo. According to Shopify, the global e-commerce market is expected to total £5.55tr in 2022. That figure is estimated to grow over the next few years, showing that borderless e-commerce is becoming a profitable option for online retailers. Normality may have resumed, but 38 per cent of consumers expressed their desire to continue online shopping and visit physical stores simultaneously. Naturally, franchises that enable businesses to use e-commerce are set to perform exceptionally well. Whether you are a web design franchise like It’seeze or a genuine e-commerce franchise like Smart FBA, these investments promise to be sound opportunities.
An infrastructure that supported life in lockdown, technology has proven indispensable over the past two years. Working from home increased reliance on videoconferencing and virtual project management and communication, which has created an opportunity for technology franchises to take advantage of.
In a progressively digital world, embracing a new technological era starts with educating the younger generation. As the need to be tech-savvy grows, parents seek suitable ways to encourage their children to enhance their knowledge outside of the traditional school curriculum. People also turn to coding franchises to get ahead of the curve and embrace a new technological era. A great example of a coding franchise taking off in the UK is Code Ninjas, a kids’ coding franchise offering problem-solving, critical thinking, and STEM skills to children five to 14.
4. HR and recruitment
With the pandemic forcing us to reassess our priorities, personally and professionally, the Great Resignation has seen employees switch careers en masse due to burnout and greater job opportunities. HR and recruitment franchises are now busier than ever before. Employees adjusted to new ways of working, increased flexibility and had time to reflect on what they want from an employer. For businesses, retaining their top talent and ensuring their staff are happy became vital. Outsourcing to HR franchises has been fundamental in ensuring employees’ needs are met and reducing the risk of losing people.
Employers looking to snap up the new talent on the block have also invested heavily in recruitment teams. Hiring staff is considered one of the most challenging aspects of running a business, and companies regularly waste thousands of pounds and months of time just to interview people who are nowhere near fit for either the role or the company culture. Outsourcing to a recruiter can alleviate these problems, resulting in a more robust recruitment process that saves both time and resources.
The HR and recruitment industry has massively benefitted from the accelerated digital transformation, with a record number of job vacancies and significant changes in candidate expectations, all of which will ultimately shape businesses’ strategies as they look to plan for the next 12 months and beyond.
With regular cleaning playing a vital role in limiting the transmission of COVID-19, every business had hygiene as their number one priority during the pandemic. Social distancing rules and regulations meant that cleaning companies were increasingly called upon to remove the grime and harmful bacteria in sectors like retail, education, and healthcare, to name just a few. Commercial cleaning services like The Kleaning Company, JAN-PRO and Poppies played a crucial role in ensuring these key services were delivered.
Post-pandemic, it has remained essential for businesses to make sure employees are safe on an ongoing basis. Therefore, the professional corporate buyer has needed to invest in cleaning contracts for the long term. Commercial cleaning franchises are one of the big winners post-pandemic.
Paul Dodgshon is sales director at Business Partnership. With over 15 years of experience helping businesses sell quickly at maximum value, Paul understands the practical and personal issues involved in selling a business.