There are two areas to focus on.
1: “Need” vs. “Want” franchises
Think home improvement/maintenance + repair services.
More people than ever work from home and study from home.
With the real estate market tight and the cost of mortgages going up, people are fixing up and staying put.
People need their houses to accommodate their work, school, and family style.
2: Affordable luxury franchises – health, fitness, and beauty services.
This may seem to contradict what I said about need-based businesses but it doesn’t.
Examples include haircuts, therapeutic massages, and fitness center memberships.
In an uncertain economy, people might not be able to take a nice vacation.
Yet, they can afford – and don’t want to do without – getting their hair cut or going to the gym.
Connect with me on LinkedIn and send me a message if you have questions or desire to learn more about HOT franchises!
