The 10 Advantages of Buying a Franchise in 2022

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Perhaps you’re considering starting a business in 2022 and asking yourself what the advantages of franchising are? A new year brings new beginnings, and if you’re looking for a fresh challenge, we’re here to help. 

This guide will explore the 10 advantages of buying a franchise in 2022. We’ll outline the trends to look out for, including the rise of online and how you can tap into new and emerging technologies. We’ll explore the benefits of buying a franchise and why 2022 could be the perfect year to get started. 

1. Capitalise on upcoming trends – the rise of online

The pandemic has changed the way we source our goods and services. Businesses have adapted by improving the online customer experience, and E-retail stores have exploded. More and more people have come to embrace online, and the trend is set to continue in 2022. 

A benefit for franchisees is demand has increased for services like web design, coding and tech support. If you have an interest or skill in computers or tech then an online franchise could be for you. You could sell web design services to an up and coming e-commerce retailer or train people who want to improve their IT skills. The opportunities for online franchises are endless. 

2. New and emerging technologies

E-commerce is an ever-changing industry. Each year we see new trends and technologies emerge that help businesses grow and compete in the marketplace. Capitalising on these trends is a big opportunity. 

One trend to watch is the rapid evolution of online food ordering and delivery. Food delivery has become a global market worth more than $150 billion and is poised to remain a permanent fixture in the food sector. 

As a franchisee, you could take a piece of the pie by running your own food ordering business. As an added benefit, these franchises are available with low initial investment and offer fantastic earning potential. 

3. The need for home services 

With more people than ever working remotely, the home has become a focal point. People are investing in home improvements to create better workspaces and to make the most of their homes. This has driven a demand for home services like domestic cleaning and home improvement. 

This sector has a wide range of franchise options meaning you can choose a business that fits your skillset. Opportunities range from running your own cleaning franchise to gutter cleaning and furniture repair. 

4. Focus on health and wellbeing

During the pandemic, people’s focus naturally turned toward health and wellbeing.  From home workout videos to mindfulness, we gained a greater awareness of our physical and mental wellbeing. 

As a result, franchises with a health and wellness focus could see success in 2022. If you enjoy health and fitness, there are lots of franchises that offer you a chance to turn your hobby into a career. Become a personal trainer or open your own yoga business with the support of an established franchise. 

5. Education 

The pandemic has created a shift in learning for students across the globe. Home education franchises are expected to gain and maintain popularity as parents continue to employ the help of online tutors. Adults have also taken to online learning to up-skill or change career direction.

Starting a tutoring franchise could mean home working, more flexibility and the satisfaction of using your skills to help others.  

6. Be your own boss

The biggest benefit of buying a franchise is being your own boss. If you’ve always wanted to run your own business, opening a franchise is a low-risk way without starting from scratch. With the added benefit of receiving support from the franchisor. 

Being your own boss can be hard work, but the benefits can also be extremely rewarding. Creating your own schedule, working towards your own goals and setting your direction. You could even work from home whilst earning more money every month. 

Franchising allows you to go it alone without the associated risks of starting an independent business.

7. Brand Awareness 

A big advantage to opening a franchise is brand awareness and recognition. Building your own brand awareness from scratch can be challenging and takes time as you build your customer base.

Franchisees benefit from buying into a well known, established business that already has a customer base. Working with a recognisable brand makes it easier to win customers because the groundwork has been done for you. 

Read more about the benefits of brand awareness in our blog: The Key Differences Between Buying A Franchise And Starting Your Own Brand

8. Lower Risk

After the pandemic, there is a greater need to mitigate risk. Opening a franchise could be lower risk than starting your own independent business. Franchise brands have shown a great deal of reliance during Covid by continuing to succeed and overcoming challenges. 

Most franchises are operated by large, established corporations that have proven business models for their franchisees to follow. With higher average success rates than new independent businesses, a franchise may experience fewer setbacks making it a lower risk investment. 

9. Low Cost 

You can start a franchise for under £10,000. A low-cost franchise could be an advantage if you have a smaller budget and want to start up with minimal costs. On the other hand, if you have a larger budget, making a higher initial investment could open the door to a larger business operation. 

The benefit here is that you have the choice to choose your investment level, with a great range of opportunities available to suit all budgets. 

10. Flexible Working 

Part-time and home based franchise opportunities offer the benefit of flexible working in contrast to a 9-5 office job. Choosing a franchise that offers you flexible hours increases work-life balance. 

Perhaps you want more time to look after your children or to focus on a hobby that you enjoy. Whatever your reason for seeking more flexibility, buying a part-time franchise could offer you a solution. 

Conclusion

Like most other businesses, buying or starting a franchise will take hard work and dedication. It’s important to thoroughly research opportunities before choosing the right one for you. 

Consider your strengths and which business models match your skill set. Think about your level of experience and the package of support available from the franchisor. Expect long hours and hard graft to get established. 

The great news is that 2022 is predicted to be a good year for franchising. There’s a positive outlook and many advantages to look forward to for both the franchisor and the franchisee.