Five Franchise sectors that will shine brighter post COVID-19
COVID-19 has caused unprecedented disruption in all sectors. From suspending flights and trains to limiting the movement of people and vehicles, this has had a large-scale effect on the Indian economy. However, some sectors also see this hour of crisis as an opportunity to innovate their existing business models and create solutions. Here too, there are franchise sectors that are growing at a very significant rate, the sectors will also continue to increase after Covid-19.
Here are the five franchise sectors most likely to benefit from the current situation.
With institutes closed and regular classes suspended during the closed period, online learning has become the most viable tool for educators seeking to ensure that the impact of the pandemic on the academic progress of their students. Several platforms offer high discounts on various courses and many classes are even offered free of charge. As a result, virtual courses and online learning have suddenly become the norm instead of the new, even if conventional models are redesigned to make learning more personalized, engaging and interactive. Even before the COVID-19 epidemic, a study predicted that the Indian online education market would reach $ 18 billion by 2022.
The pandemic has only served to accelerate this growth by making it essential for teachers and learners to adopt more efficient digital processes and tools. “Surviving and flourishing” is the new mantra for actors in the education sector in India. As the situation normalizes, the innovations in franchising that emerge during this phase will become key drivers of industry growth in the future.
The foreclosure of Corona caused all the activity to rest, with all the stores stopped, in such a state, most Indian households still depend on their neighborhood stores for groceries, but amid of covid-19, many people have changed the priority for online stores for their basic needs. Online retail platforms like Grofers, Milkbasket and BigBasket have risen to ensure adherence to social distancing. Huge discounts are currently offered on various items while, to ensure that everyone's needs are met, unit caps have been imposed on the purchase of essential items.
With the increase in demand, most players experience a 20-80% increase in their order volume despite challenges such as delays and order cancellations. In a way, foreclosure is gradually changing the mindset of consumers and encouraging them to switch to online grocery shopping. This indicates that online grocery shopping will be a booming sector in the long term and this is good growth for the e- franchise, even after the end of the COVID-19 chapter.
As people adopt better personal hygiene practices in the post-COVID-19 world, the consumption of nutrition and wellness products is expected to increase. This change of mind towards a healthier life opens the door to collaborations between manufacturers of fitness products and healthcare providers, creating a positive impact on the country's GDP in the years to come.
In addition, as people turn towrds online medium, provisions such as online medicine delivery and tele-consultation - which is already growing dramatically due to foreclosure - will increase even more.
We may also see more health care investments in the private and public franchise sectors as the country improves its health care infrastructure in the wake of the current pandemic. This will have a double impact on the Indian economy. First, essential health services will become more accessible, available and affordable for the general public. Second, and just as important, the number of job openings will explode. In a country that has faced some challenges with the high unemployment rate recently, it will be a major shot in the arm. So if you want to increase your finances, plan with the health sector.
There is not a day that goes by without calling the word fitness. There is a craze for this trend, with the increased awareness of the importance of fitness and the ugly side of obesity, people are blowing up the doors of the gym. They join zumba and aerobics, yoga. Fitness franchises are popular. They are in great demand. As with the end of the lockdown, the gym and other fitness centers will be in demand, so plan your future with the fitness industry, they guarantee a faster return on investment.
The demand in the beauty segment is increasing with each passing day, and there is a huge demand, especially in the women's beauty segment. Everyone wants to look perfect and needs personal care. However, it is a difficult time for everyone in the midst of the corona virus. it could therefore be difficult to start a business because the niche is full of competition. A franchise would be a good option to start with a salon without hassles, it yields high returns with profits, so if you're in a hurry to consolidate foreclosure on your business, then this is for you.
Covid-19 is a terrible shockwave to the global economy and to the thousands of people and families it has pretentious. The immediate business must ensure that health and safety comes first. In the longer run, Covid-19 has irreversibly changed the way businesses will compete over the next decade.
Companies that choose to take benefit of these underlying changes will succeed and those that will not be disrupted. Amid all the turmoil caused by the pandemic, there is still a ray of hope for the business world. Yes, there is a solution that not only helps entrepreneurs to stand together, but also to run their business more effectively. It's about taking your business offline online. While it will make your customers' lives easier, you can serve them right at their doorstep.
Admitting all anarchy will also pass and once it does, there will be these fast-paced opportunities, from which the entrepreneur can build his business and grow from scratch.
Written By: Moni Evangilin
Written By: Yukta Palekar
Written By: Shivani Kumari
Written By: Yukta Palekar