If you’ve landed on this franchising video because you’re dreaming of a franchise for 2022, the good news is the franchising weather forecast is sunshine and success. Years ago, one of my first mentors in franchising taught me that in good times and bad, the franchise industry grows. What people invest in and their motivations for investing change, but at the end of the day, people still invest. What franchising trends should we be looking out for in 2022?
Trend #1: One big shift was to the home services space because people were not only sleeping and living in their homes but now working from their homes and going to school from their homes. The home became a huge point of attraction—think pools, home repairs, painting, and so on.
In the home services category, sometimes these aren’t businesses that people naturally flock to, mainly because they might have the preconceived notion that they have to have experience as a handyman or a plumber or a painter to own a business in that space. They’re not looking for you to be the one working in the business. They’re looking for you to be the CEO who works on the business.
Trend #2: Reoccurring-service businesses, like lawn care, pool cleaning, cleaning companies, etc., thrived in 2020 and 2021. “Sell me one time and then keep coming back and servicing my home again and again and again.” My assumption is they will continue to thrive into 2022 and beyond because a lot of those services are basic, essential services that people will continue to pay for, no matter what’s going on in their world.
Trend #3: Basic services businesses, like automotive, moving, storage, and junk services, will always thrive. No matter what’s happening in the world, people are always going to be moving and still driving their cars.
Trend #4: The health, wellness, fitness, and beauty industries did well in 2020. Don’t make the assumption that this is not a good time to invest in a health, wellness, and fitness brand if that is a passion of yours or an interest of yours because there is now more focus than ever before on people getting healthy and staying healthy, and there’s going to be an emergence of new franchisors in this space. Many women spend money to look good. We might color our hair, paint our nails, do our eyelashes. Any brand that helps women look better and feel better, makes us feel more confident, likely exploded in 2020. It works in good times and bad because I don’t care who you are, if you color your hair, you’re coloring your hair—pandemic or no pandemic.
Trend #5: Baby Boomers are aging, and the care industry will always be around because people are always going to be aging.
Trend #6: Opposite of seniors is children—products and services that cater to our kids and our growing families will never be out of fashion. There’s always going to be a growing demand to help our kids, whether it be through tutoring or extracurricular activities, like karate or fitness, to even life-saving skills like teaching swimming lessons. Some of these franchises have had absolute record-breaking years in 2020 and 2021, and I know with my help are going to continue to see growth in 2022.
The point of this post is to help you understand that franchising is so much more than food and retail, that the forecast for franchising is positive. In good times and bad, there will be opportunity. The question is, will you see the opportunity? Can you stand up for your dreams in this moment, where some people may say you are totally crazy, and step forward to ask questions, to explore some opportunities to just see what the answers are? If you’re not willing to ask the questions, the answers will almost certainly be no. If you’re not willing to stand up for your dreams, nobody else ever will.
If you are ready to explore your future in business ownership, I’d love to meet you. My franchise consultant services are free to you! Please contact me directly using the form below.