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So often, people dream of becoming an entrepreneur but hesitate because entrepreneurship can feel scary. It can be lonely and overwhelming to try to make decisions in a silo and all alone. That’s why so many people who dream of wearing an entrepreneurial hat but dread stepping away from the role of an employee with a team to rely on choose franchise ownership as a happy medium.
With a franchise, you get the best of both worlds. You’re backed by a franchisor who has proven systems and strategies in place. You receive ongoing training to up your skillset in your industry. And you get support in hiring the right people to help your franchise grow. All the while, you have the autonomy to make the core decisions in your business, set your schedule, and live the entrepreneurial journey.
If you’ve hesitated to step into this role, perhaps feeling the support in making this transition will help you feel like 2024 is your year. In addition, so will the advances this industry has been taking through 2023 and into the New Year.
Make a Sustainable Difference With Your Work
Sustainable franchises have trended upward in recent years, and that momentum isn’t looking to slow down anytime soon. If you’ve wanted to start a franchise that makes a difference in the environment, now’s the time to do so.
But you don’t have to pigeonhole yourself into sustainable franchises alone. Many franchisees have seen an uptick in consumer demand for sustainability and are starting to infuse their green solutions into the mix. From shifting to EV delivery fleets to swapping product packaging for sustainability, you can choose a franchise that’s taking important steps to reduce its environmental impact while also feeling good about the work you’re doing.
More Data. Lower Risk.
Perhaps there’s never been more data available to franchise owners. That data is gold for finding a franchise that will succeed in your area, personalizing your services to attract more business with ease, and monetizing new opportunities with less risk.
With this steep increase in data accessibility, more franchisors are equipping their franchisees with deeper insights to guide their business success. This is especially valuable in niche industries where data hasn’t been as readily available. Now, deep data is getting democratized to the point that everyone can access the information and leverage it for franchise growth, making 2024 a great year to jump into the market with less risk.
A Focus on Customer Experience
With the increase in data accessibility has also come an increase in personalized deliverables and better customer experiences. Many franchisors continue to hone what those experiences look like by using technology to smooth the transactions and ease the burden on franchisees to cater to every whim. There’s an app (or several) that can do that instead.
By having personalized customer experiences more seamlessly infused into the franchise systems and software, franchisees are better equipped to succeed among today’s more demanding customers without adding to their stress load. This heightened focus bodes well for anyone wanting to start a franchise in 2024.
More Flexibility With Work Paired With Less Travel
Remote work became normalized in 2020. Now, with everyone’s comfort on Zoom and other online meeting platforms, teams have seen the benefits of not having to commute locally or across the country. In the franchise space, it’s expected to see that trend continue, requiring less travel for franchisees and more flexibility with who you hire to work in your franchise.
With more franchisors leveraging a remote workforce, you can hire and work better in your new business. This flexibility pays off regarding the lifestyle you aim to build with your new franchise.
From better intelligence and better experiences to a better way of working for you, the franchisee, it’s clear that 2024 is a great year to start your first or next franchise.
Kimberly Crossland is the founder of Roadpreneur and Cruisin' + Campfires, two companies designed to keep families together and living in freedom through travel and entrepreneurship. The goal of both businesses is to inspire meaningful change through the power of a strategic, thoughtful approach to life and business. In her free time, you can find her looking for a new adventure together with her two boys.